CANADA: Earnings improvement for Magnotta
Net earnings at Canadian wine producer, Magnotta Winery, rose from C$1.55m to C$1.81m for its 2002 fiscal year. The company attributed the growth in profitability to continued improvements in operating efficiency and reduced litigation costs resulting from the mediated settlement with the Liquor Control Board of Ontario. Net revenues rose from C$23.25m to C$24.76m.