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Winemaker expects brighter future
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Winemaker Australian Vintage expects profit to grow now it has terminated the lease of the Del Rios vineyard in Victoria. The owner of the McGuigan, Tempus Two, Nepenthe, Miranda and Passion Pop brands says onerous grape contracts and vineyard leases have been its biggest issue over the last 10 years. The early termination of the Del Rios lease at Kenley in Victoria at the end of 2015 is expected to cut the company's annual grape payments by up to $6 million.