BRL HARDY ANNOUNCES RECORD RESULTS

Published: 23 July, 2008

BRL Hardy Limited has announced its ninth successive record performance in the year to 31 December 2001, based on strong sales growth in European and Australasian markets'. BRL Hardy's global operations generated sales revenue of A$758 million last year, a 20.7% improvement on 2000's figure. Net operating profit rose by 21.1% to a record A$72.2 million, compared with A$59.5 million (after excluding the effect of a tax rate change on deferred tax balances) in 2000. The company's annual sales revenue has increased by an average of 21.4% during the past five years. The 2001 figures were achieved after allowing A$1.8 million in after-tax costs associated with the company's failed bid for the Kendall-Jackson wine group and in establishing US-based Pacific Wine Partners as a joint-venture with Constellation Brands. Without those operating costs,' according to a company statement, BRL Hardy's net operating profit after tax would have been A$74 million, up 24.3%.' Stephen Millar, BRL Hardy's managing director, said: This is an outstanding result, particularly as it has been achieved in highly competitive market conditions in all areas. The earnings before interest and tax (EBIT) contribution from our Australasian business rose by 10% and the international business EBIT by 29%.' Christopher Carson, CEO, BRL Hardy (Europe) Ltd, told Harpers that the strong growth in European business was achieved thanks to significant inroads into several European markets, while the UK continues to go from strength to strength'.

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