AUS: Dromana Estate loses CFO
The CFO of Australian wine producer Dromana Estate has resigned.
The company, which cancelled its listing on London's AIM at the beginning of this year, told the Australian Stock Exchange yesterday (1 February) that Chris Ritchie has quit the post. Ritchie also held the position of company secretary and relinquished this position as well.
Garry Bell has been appointed company secretary, but no replacement CFO has been announced yet. Further details were not forthcoming.
In September last year, Dromana posted a trebling of full-year losses as it struggled with its mid-table position in the Australian wine sector.
For the year to 30 June, losses leapt by 194% to A$2.35m (US$1.77m). Revenues dipped by only 7%, however, to A$2.7m.
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