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Absa's Top 10 Pinotage finalists

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The Absa Top 10 Pinotage Awards is one of South Africa’s premier wine industry contests. This year’s competition marks the 19th consecutive year of collaboration between Absa Bank Ltd, member of Barclays Africa Group Ltd (Barclays Africa,) and the SA Pinotage Association in recognising wineries from throughout South Africa for their interpretation of the country’s famous indigenous grape variety.

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KWV turnaround watered down by rand hedge

Were it not for a decision to hedge a portion of its international sales, Paarl-based liquor group might have achieved a much more spirited profit performance in the year to end March 2014. KWV managed to fortify its gross profit margin from 29,8% to 31,5% thanks to the 20% weakening in the rand, increased volumes and an improved sales mix with regard to wine sales and increased bulk spirit sales. Unfortunately KWV’s 47% increase in gross profits to R350m was whittled down to an operating loss of around R2m.

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