Australian Vintage swung to a net loss in the half year ended December 31 as revenue declined across its major markets.
The company’s net loss amounted to $473,000 as revenue fell 7.4 per cent to $126.1 million.
Australia and New Zealand revenue dipped 11.5 per cent to $56.7 million, while sales in the UK, Europe, and the Americas decreased 3.9 per cent to $65.7 million. Asia revenue slid 0.2 per cent to $3.8 million.
During the period, the company named Craig Garvin as CEO.
“Since returning to the business in October, I have made it a priority to visit our key markets twice and meet with all key partners to ensure our commitment and connection at the highest level,” said Garvin.
“We continue to pursue partnership, consolidation and acquisition opportunities to premiumise our portfolio, which will be fully funded through non-core asset sales.”
Garvin noted that the company expects pre-orders for Poco Vino, which adopts the ‘make where sold’ wine sourcing model’ to exceed $8 million for FY26.
Australian Vintage also expects shipment to Asia to increase by double digits for the full year with its partnership with Cofco and Oceanus.
