New Southcorp chief executive Keith Lambert today rejected speculation that the wine company was to sell some of its brands.

Earlier this week Foster's CEO Ted Kunkel said his company would be interested in any brands Southcorp put on the market, prompting rumours that Southcorp was putting Wynns and Seaview up for sale.

But Lambert said: "We do not have any brands for sale."

Lambert was speaking at his first presentation to the press as CEO of Southcorp, which recently merged with fellow Oz winemaker Rosemount.

During the presentation Lambert assured analysts and the press that Australian wine sales were recovering from a downturn in early 2001.

He said: "March and April were a bit soft but May and June were much better and I think we're finding trading has picked up in the final quarter ending June."

Lambert said Southcorp brands had experienced a slight softening of sales in the UK, following price increase, but the US was doing well.