Foley Wines Limited

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 Full Year results, released on 28 August 2026

PREMIUMISATION STRATEGY CONTINUES TO DELIVER RESULTS

28 AUGUST 2026 – Foley Wines reports a year of progress and an improved financial result on last year in the Company’s annual report to June 2026, published to the New Zealand Stock Exchange today.

Performance Overview:

Bottled sales revenue $62,800,000 (down 5.4%)

Bottled case sales 552,000 (down 9.5%)

Operating earnings $5,878,000 (up 323.5%)

Profit after tax $2,937,000 (up 258.2%)

Operating EBITDA $15,502,000 (up 22.9%)

CEO Mike Higgins said, “It’s been a year of progress in a very challenging economy. Operating EBITDA is up 22.8%, while bottled case sales were down 9.5% on the previous year’s record sales. A bumper 2025 harvest and a well-documented oversupply of New Zealand wine resulted in a very competitive marketplace and deep discounting, but our premiumisation strategy and strong distribution partnerships continue to create opportunities for the Company”.

Remaining focused on selling premium packaged wine through established channels had paid off, said the Company. “We worked closely with our distribution partners to protect margin and sell higher quality, more valuable wines. Investing in targeted promotional funding to keep the brands in the forefront of consumers’ minds has meant the Company is already shipping the 2026 vintage to many markets and our inventory is generally in balance,” said Higgins.