News

AUSTRALIA: Southcorp suspends share trading

Most popular

Remy Cointreau Performance Trends 2016-2020

Why COVID-19 has restored plastic's popularity

COVID-19 a double-edged sword for CBD

Campari and Cuervo - The next big spirits buy?

How drinks companies can trump the water fountain

MORE
Leading Australian wine group, Southcorp, has suspended trading in its shares after a sharp fall which followed downgraded earnings forecasts for the company by analysts. The company is due to make an announcement to the Australian Stock Exchange but has requested a halt in trading until next Tuesday.

Shares in Southcorp fell to A$5.82, their lowest value in more than a year, after several analysts downgraded their forecasts following briefings from the company. Analysts said Southcorp, producer of the Penfolds and Wynn brands, advised them to reduce their earnings forecasts for 2002/03 by A$30m to allow for the impact of a poor 2002 vintage for premium wines.

Bad weather resulted in the worst vintage in 10 years causing a lack of quality fruit for the company's super premium red wines.


Related Content

Cost-cutting looms for Carlsberg as 2020 forecasts abandoned - trading update

Cost-cutting looms for Carlsberg as 2020 forecasts abandoned - trading update...

just the Answer - Wine Australia market development manager, James Gosper

just the Answer - Wine Australia market development manager, James Gosper...

AUS: Australian Vintage may quit Wine Australia

AUS: Australian Vintage may quit Wine Australia...

Silk Road Distillers changes name to Offbeat

Silk Road Distillers changes name to Offbeat...

Oops! This article is copy protected.

Why can’t I copy the text on this page?

The ability to copy articles is specially reserved for people who are part of a group membership.

How do I become a group member?

To find out how you and your team can copy and share articles and save money as part of a group membership call Sean Clinton on
+44 (0)1527 573 736 or complete this form..



Forgot your password?