AUSTRALIA: Petulama's future plans temper results
Petaluma's EBIT of $A10.7m was only $A0.4m more than in 1998-99, revenues increased by 15.9% to $A41.4m with post-tax profit 9.5% greater at $A6.5m.
"We could have continued with at least double digit growth but we bit the bullet, maintaining our prices and taking over our own distribution which is having an effect on sales," Croser said.
The strategies were aimed at allowing Petaluma to develop in its
niche as a pure premium wine supplier to the global market during the next decade.
He said the results were consistent with expectations, given global and domestic competitive pressures and increased market support costs.
Growth of 4% in branded case sales and revenue growth did not take into account benefits of Petaluma's joint venture with Stimson Lane of the US, or the purchase of Oregon-based Argyle Winery, which had been settled yesterday.
- Scotch's Slipping Crown: Convenient for Diageo?
- Can Beer Learn from Keurig and Nespresso?
- C&C Group 'puzzled' by Spirit Pub Co rejection
- English Gin Breaks Away From its Core Markets
- just The Preview - Anheuser-Busch InBev's Q3 & YTD
- Diageo partner Beckham turned down Beck's deal
- Whisky downturn slows Diageo's Scotch spend
- Mast-Jägermeister targets UK off-trade boost
- EXCLUSIVE - Mast-Jaegermeister, TWE join watchdog
- SABMiller announces management reshuffle
- Global Cognac insights - market forecasts, product innovation and consumer trends research
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends research
- The IWSR Global Trends Report 2014
- Diageo plc (DGE) - Financial and Strategic SWOT Analysis Review
- Wine in the United Kingdom