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).