“Revenue to the end of August 2002 exceeded budget by A$1.6m,” the company said. “With a number of key operational issues resolved and a solid financial structure in place, the board considers the company is well placed to significantly improve its performance in the current year.”
AUSTRALIA: Cranswick confirms $23m loss
Following its statement last week that it was set to report a A$23m loss, Cranswick Premium Wines Ltd duly posted a net loss for the 2002 fiscal year of A$23.4m, against a net profit of $3.02m for the previous year. However, the company said that it had begun the 2002/2003 fiscal year with strong sales.