AUSTRALIA: Cranswick profits halved as Aussie producers report mixed results
By Tony Baker | 12 September 2001
A group of smaller publicly listed Australian wineries reported mixed fortunes and forecasts to shareholders yesterday. Cranswick Wine Estate saw its net profits halved to A$3m (US$1.54m), following the loss of a contract to produce Cinzano and asset sales. The profit downturn was despite a 9% increase in revenue to A$60.382m, mainly from continuing success in the UK and other European markets.
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A group of smaller publicly listed Australian wineries reported mixed fortunes and forecasts to shareholders yesterday. Cranswick Wine Estate saw its net profits halved to A$3m (US$1.54m), following the loss of a contract to produce Cinzano and asset sales. The profit downturn was despite a 9% increase in revenue to A$60.382m, mainly from continuing success in the UK and other European markets.
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