Australian Vintage Limited Announces Consolidated Earnings Results for the First Six Months Ended December 31, 2017; Provides Earnings Guidance for the Year 2018
February 21, 2018 at 07:40 am IST
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Australian Vintage Limited announced consolidated earnings results for the first six months ended December 31, 2017. For the six months, the company announced revenue of AUD 140,941,000 compared to AUD 119,332,000 for the same period a year ago. Profit before income tax was AUD 6,410,000 compared to AUD 2,325,000 for the same period a year ago. Net profit for the period was AUD 4,433,000 compared to AUD 1,598,000 for the same period a year ago. Earnings per diluted share were 1.5 cents compared to 0.7 cents a year ago. Net cash provided by operating activities was AUD 11,037,000 compared to AUD 7,786,000 a year ago. Payment for property, plant and equipment was AUD 9,616,000 compared to AUD 5,391,000 a year ago. EBIT was AUD 9,299,000 compared to AUD 4,945,000 a year ago.
For 2018, the company expects the cash flow from operating activities continues to improve with operating cash flow up 42% over the prior period. Even though company is committed to a significant capital spend of AUD 19 million this year the company expects operating cash flow to fully fund this capital expenditure. Based on the exchange rate remaining at around the current level and a normal 2018 vintage, the company expects 2018 result to be at least 60% up on the 2017 result. This forecast comparison to the prior year takes into account the large 2017 vintage which resulted in a higher than expected SGARA in the second half of the 2017 financial year.
Australian Vintage Ltd is an Australia-based wine and drinks company. The Companyâs principal activities include wine making, wine marketing, and vineyard management. Its segments include Australia / New Zealand, UK, Europe & Americas, and Asia. Australia / New Zealand segment is engaged in the growing of grapes, manufacturing, sales and marketing of alcoholic wine, non-alcoholic wine and other beverages in Australia, New Zealand and the Pacific through wholesale and retail channels. In addition, the Australia / New Zealand segment sells concentrate and other commercial products to customers globally. UK, Europe & Americas segment is engaged in the packaging, sales and marketing of alcoholic wine, non-alcoholic wine and other beverages in the United Kingdom, Europe & the Americas through wholesale, distributor and retail channels. Asia segment is engaged in the sales and marketing of alcoholic wine, non-alcoholic wine and other beverages in Asia through wholesale channels.
Australian Vintage Limited Announces Consolidated Earnings Results for the First Six Months Ended December 31, 2017; Provides Earnings Guidance for the Year 2018