KWV Ltd has serious ambitions to double its share value in the next three years, despite tough domestic and international competition and a worldwide wine glut.

Group managing director Dr Willem Barnard said the planning had been completed and that it was no pipe dream, though he warned that it was going to take a great deal of hard work.

Diversification into the broader liquor industry, through its subsidiaries in Germany and in South Africa, was part of the new strategy the company has embarked on.

Traditionally KWV concentrated on products of the vine, but would now also look at rum, whisky, vodka, beer and even non-alcoholic drinks.

Chairman Danie de Wet also announced that Barnard, who has been managing director for 12 years would retire next June.

 A short list of possible successors has been drawn up and the new MD would be appointed early in the new year to ensure a smooth transition.