AUSTRALIA: Cranswick reports drop in earnings but remains positive

For the first time since it became a public company in 1997, Cranswick Estate reported a fall in earnings and admitted it failed to meet its budget. The Australian wine company reported sales for the six months to 31 December 2000 of $A27.3m ($13.79m) compared to $A27.7m ($14m) for the same period in 1999. Earnings before depreciation interest and tax were down to $A5.3m ($2.68m) from $A6.7m ($3.39m).

May 1, 2001

The Australian wine company reported sales for the six months to 31 December
2000 of $A27.3m ($13.79m) compared to $A27.7m ($14m) for the same period in
1999. Earnings before depreciation interest and tax were down to $A5.3m ($2.68m)
from $A6.7m ($3.39m).

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