Casella Wines sells 12 million nine-litre cases of Yellow Tail annually.
Advertising and foreign-exchange hedging costs pulled the bottom line down in 2017-18.
MD John Casella says the business is performing solidly this financial year.
The boss of Casella Wines, the maker of one of Australia's biggest-selling wine brands, Yellow Tail, says there will be no cutbacks in investment on brand-building despite a sharp drop in profits in its latest financial year.
John Casella, managing director of the Griffith-based business that built up the biggest-selling wine brand imported into the United States after setting it up in 2000, said on Friday there had been ''healthy growth'' of the Yellow Tail brand globally.
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Simon Evans writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide. Connect with Simon on Twitter. Email Simon at simon.evans@afr.com
