McGuigan confident of Australian industry's future
The Australian wine industry is showing signs of recovery, according to the chief executive of McGuigan Simeon Wines.
David Clarke said that the industry is "returning to balance", and also predicted a turnaround for his own company, which has endured tough trading conditions over the past few years.
He said: "The overhang of wine stocks is clearing and we are seeing improvement in margins at McGuigan Simeon. Additionally, we are capturing higher margins in Australia, although there is still very aggressive pricing from some winemakers, particularly at lower price points."
Clarke estimated that the 2008 vintage would be between 800,000 and 1.3 million tonnes.
He added: "We remain confident of our export growth, particularly with new distributors in place in the UK and Europe."
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