Foley Wines Limited Analysis

Overview

Founded as Grove Mill Wine Company Limited, the company was established in 1988 when a group of Marlborough grape growers and business people recognised the potential of Marlborough as a premier wine-growing region. The early vintages achieved many wine awards to national and international acclaim. The Company changed its name from Grove Mill Wine Company Limited to The New Zealand Wine Company Limited in June 2002, it was listed on NZX since November 2003 under the symbol of NWC.

Foley Family Wines Limited, who operates wineries located in California and Washington State, completed a merger deal with NWC in September 2012. The company's name changed from The New Zealand Wine Company to Foley Family Wines Limited, and the ticker code was changed to FFW. In 2014 FFW purchased Martinborough Vineyard Estates.

On 3rd December 2018, Foley Family Wines Limited migrated the NZX Main Board and changed their name to Foley Wines Limited and their ticker code to FWL.

Performance

The following information was extracted from Foley Wines Limited's Half Year results, released on 27 February 2026

Performance Overview:

Bottled sales revenue $32,490,000 (up 0.5%)

Case sales 290,000 (down 2%)

Operating earnings $2,649,000 (up 30.2%)

Reported profit after tax $2,300,000 (up 112%)

Operating EBITDA $7,607,000 (down 3.8%)

Foley Wines has announced growth in sales revenue and operating earnings in the Company’s half yearly report, published today.

CEO Mike Higgins said, “It has been a very challenging period for the broader industry both domestically and globally, but we have worked very hard to develop and protect our strong export markets for our premium bottled wines.”

Our strong distribution partnerships in the UK and Asia have delivered growth, and our regional diversity continues to be a competitive advantage for the Company.

Profit for the period net of tax was $2,300,000, compared with $1,085,000 the previous year. Profitability remains a key priority but has been affected by significant investment in sales promotional support to our key customers to combat the discounting of New Zealand wines, to protect distribution and critically, maintain stock balance.