AUSTRALIA: Cranswick on track for $A50m sales

Listed Australian producer Cranswick Premium Wines is 'on track' to report sales of $A50m in the 1999-2000 financial year.Managing director, Graham Cranswick-Smith, said today that he saw no reason to amend earlier forecasts, given continuing strong exports.He said that despite the shortfalls of many companies in the 2000 vintage, the company's 36,800 tonnes was 11% more than last year's combined total of Cranswick Wines and Australian Premium Wines, which was acquired during the year.Cranswick was well-placed to continue its export growth by building on its strong position in the UK market.Its recent success in placing an order with a German supermarket chain for 1.5m bottles of Chardonnay was being followed by a test quantity of red wines.A one-off order of 15,000 cases of wine consigned to Japan for Golden Week, had sold out.Other sales in Japan were growing steadily with per capita consumption now at 3 litres and predicted to double within five years. Chris Snow