AUSTRALIA: Tandou to sell another winery? – report

By just-drinks.com editorial team | 4 September 2006

Tandou Limited has put one of its wineries up for sale, according to local reports.

The Australian Broadcasting Corporation said today (4 September) that the agricultural firm is looking to divest its Riverland winery.

While the news service gave no further details on the move, ABC noted that the winery has a crush capacity of 21,000 tonnes.

Last week Tandou reported a loss in the six months to 30 June of A$6.1m (US$4.7m). Sales for the period rose, however, to A$13.46m from A$10.4m in the corresponding period a year earlier. The company blamed its losses on its ability to plant cotton, and also on the downturn in wine industry trading conditions.

In February, the company sold its Millewa vineyard to Great Southern Vineyards Holdings for A$9m.

Sectors: Wine