A strong Australian dollar has made Foster’s Group half-year wine figures look worse than they are.
Make no mistake, the Australian firm’s wine division remains in a pickle. Cash-strapped consumers are buying cheaper wine in the Americas, while tax, recession and retailer margins have made it pretty tough to earn a crust in the UK.
Closer to home, Australians are drinking more foreign wine, neighbouring New Zealand has its own economic problems and emerging markets in Asia (read: China) are not yet supping enough to make up the shortfall.
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