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Returns from wine assets 'not acceptable', says Foster's chairman

Published:  29 July, 2008

Returns from the Foster's Group wine portfolio are "not acceptable", the company's chairman has said.

Writing in an open letter to shareholders, David Crawford looked to confirm that Foster's remained in a "robust financial position".

However, he admitted there was more to be done with wine sales.

Crawford said: "We own a great company. The beer division is delivering consistently strong financial returns and, while financial returns from our wine assets are not acceptable, we own leading international brands with excellent potential."

Earlier this year, Foster's said a slower US wine market had affected company sales.