Wine and brandy lift KWV earnings

Wine and brandy sellers KWV lifted headline earnings from continuing operations by 40% in the year up to June in its 90th anniversary year.

The total volume of its wine and spirits increased by nearly 20%, indicating that consumer slowdowns have not stopped people drinking.

The Roodeberg, KWV Lifestyle and KWV 10 Year Old brandy were the main growth drivers .

Local volume sales were up 12% despite prevailing conditions, and sales in Scandinavia, the UK and Canada were particularly good.

KWV CEO, Thys Loubser, said KWV management simplified its group structure and implemented a transformation strategy .

It embarked on several sales, including those of German subsidiary Eggers & Franke, NMK Premium Global Brands in South Africa and Vititec, previously KWV’s grape vine improvement division.