NZ: Australian growth a priority for 42 Below

By just-drinks.com editorial team | 30 May 2006

Super-premium New Zealand vodka 42 Below is aiming to double sales in neighbouring Australia as its international expansion strategy continues.

The company, which also makes Stil vodka and South Gin, posted a loss of NZ$3.3m (US$2.1m) in the year to 31 March, down from a NZ$5.2m loss the year below and in line with company expectations.

Revenue was up 40% to NZ$17m, while the company's assets of NZ$22m should help grow revenue further in 2006/7.

Chief executive Geoff Ross said the Australian market would be a priority over the next 12 months, receiving the highest share of investment. The aim was to double sales and increase the brand's dominance in the super-premium sector.

He said the company's international expansion strategy was beginning to bear fruit, with revenues likely to grow further as the business becomes more efficient.

Sectors: Spirits