For the first time, wine revenues, at A$1.93 billion, were ahead of beer revenues which stood at A$1.74 billion. Foster’s said that wine was also on track to overtake beer as the major profit contributor.
AUSTRALIA: Wine sales boost Foster’s
The Australian wine and beer company, Foster's Group, reported a 21% rise in annual net profit to A$560.9m ($303m). The company attributed the profit growth to stong international wine sales and said that it expected its strong international wine business to underpin further double-digit profit growth.