Less discounting boosts Southcorp

From The Publican

Start a new thread19-Aug-2004

Related topics: Company & City News

Australian winemaker Southcorp has seen the benefits of a focus on profitable sales rather than getting drawn into discounting in the UK market.

 

Reporting full year results, the owner of brands including Lindemans Rosemount Estate said that less discounting in the UK, as well of sales growth elsewhere in Europe, has seen its business in the region return to profitability ahead of expectations.

 

In the year to June 30, Southcorp's earnings before interest, tax, amortisation and significant items were AU$176.3 million, up nearly 50 per cent from 2003, and at the top end of market expectations.

 

After a year of 'bedding down internal issues', Southcorp chief executive John Ballard said the outlook was positive.
"While market conditions remain competitive in all our regions, the business is expected to deliver modest profit growth in 2005, underpinned by an increased investment in advertising and promotion."

Find us on Facebook

Spotlight

National Minimum Wage - what you need to know

National Minimum Wage - what you need to know

HMRC is naming and shaming pubs, hotels and restaurants that pay below the national minimum wage. The...

Craft Cider Trends

Craft Cider Trends

As the craft-cider movement follows the craft-beer movement, we begin to see parallels in its development. Here,...

The Big Interview: Mike Benner, SIBA

The Big Interview: Mike Benner, SIBA

In June Mike Benner left the Campaign for Real Ale (CAMRA) after 20 years of campaigning, to...

PMA's Most Mentioned 2014

PMA's Most Mentioned 2014

The Publican's Morning Advertiser has carried out its own research to uncover the 20 pubcos that have...

Follow us on