McGuigan wines owner Australian Vintage expects its full year profit to drop about 10 per cent because the winemaker has not produced as many grapes as expected.
The company says grape yields from its vineyards have been disappointing.
"Yields from owned vineyards are below expectations due to the effects of the previous year's frost on our own vineyards," Australian Vintage said on Wednesday.
The winemaker also processed fewer tonnes of grapes for other customers.
The amount of grapes crushed for the 2015 vintage dropped by more than 10,000 tonnes.
Australian Vintage crushed 113,771 tonnes of grapes from the 2015 vintage compared to 124,215 tonnes last year.
Nonetheless, the 2015 vintage had produced some outstanding wines.
Australian Vintages' brands include McGuigan, Tempus Two, Nepenthe, Miranda and Passion Pop.
The winemaker grows and sources grapes from the Hunter Valley in NSW, the Sunraysia and Riverland regions of NSW and South Australia, through to the South Australian regions of the Barossa Valley, Adelaide Hills, Coonawarra, Eden and Clare Valleys, McLaren Vale and Padthaway.
The winemaker expects its net profit for 2014/15 will be 10 per cent below the $10.5 million it made last financial year.
Australian Vintage said its total sales to the end of April 2015 were up six per cent on last year due to improved sales in Australasia, North America, the UK and Europe.
Packaged sales, which include branded bottles and casks, in Australasia and North America were up 10 per cent.
Sales in the UK and Europe were up 11 per cent.
The McGuigan brand was now the number four brand in the UK market.
But bulk wine sales were making losses in the first half of the financial year.
Shares in Australian Vintage closed two cents, or five per cent weaker, at 38 cents.
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