NZ Wine Company forecasts drop in full-year earnings
High New Zealand dollar and oversupply of local wine cuts into wine company's margins.
NZAX-listed New Zealand Wine Company expects revenue to fall 14% when its full-year result is revealed in September.
The drop was due to a 7% fall in wine sales, to 174,000 cases, compared to the same time last year, the company said in a market update today.
Revenue for the year to June was now likely to be $11.3 million as the high New Zealand dollar and oversupply of local wine had cut into margins.
The company’s full-year result will be released to the NZX on September 1.
Shares in NZ Wine Company (NWC) last traded at $1.19.
NBR staff
Fri, 22 Jul 2011
Fri, 22 Jul 2011
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NZ Wine Company forecasts drop in full-year earnings
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