Australian Vintage, one of Australia's largest wine producers, has stated that "the continued growth" of its three key brands McGuigan Wines, Tempus Two and Nepenthe is "very encouraging".
McGuigan Wines is the fifth largest wine brand in the UK.
Australian Vintage recently released its half-year results, reporting a net profit of AUD $4.4million for the six months to December 31, 2014, with its chief executive Neil McGuigan commenting that the branded business continues to grow.
McGuigan Wines, Tempus Two and Nepenthe increased sales by 19 per cent and now make up 60 per cent of AV's total wine sales. Overal revenue increased by 16 per cent for the period - mainly due to increased branded sales in Europe, Australia, Asia and North America.
European sales increased by 20 per cent on the previous period due to increased sales of the McGuigan brand, which was up 28 per cent.
However, due to the higher cost of its 2014 vintage and some large-bulk wine sales, the improved sales "did not directly translate into improved margin dollars", the company explained. "Our branded business continues to grow and what is really pleasing is the continued growth of all our three key brands".
Late last year, the founder of McGuigan Wines, Brian McGuigan, announced he was stepping down from the board of Australian Vintage, a position he had held since the establishment of McGuigan Wines in 1992.
Australian Vintage chairman Ian Ferrier said that the board renewal process could take up to 12 months.
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