NZ wine company has challenging year
The New Zealand Wine Company Ltd has reported a loss in what it describes as the most challenging year in two decades in the wine industry.
The New Zealand Wine Company Ltd has reported a loss in what it describes as the most challenging year in two decades in the wine industry.
The loss of $1.898 million in the year to June 30 compared with a profit of $1.283 million last year. The company said there were non-cash items in the result attributed to accounting rules, including a $626,000 increase in the deferred tax liability due to government budget measures and also mark-to-market foreign exchange transactions.
Revenue of $13m was up from $12.5m last year. The company is not paying a final dividend.
Shareholders' equity reduced by $3.3m to $18.63 as at 30 June 2010. The market valuations of vineyard and winery assets reduced by 13 percent to $16.9m.
NZPA
Thu, 26 Aug 2010
Thu, 26 Aug 2010
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NZ wine company has challenging year
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