NZ wine shows signs of turnaround
NZ wine shows signs of turnaround
Nov 27, 2012 6
(NZHerald) - New Zealand's wine sector is showing signs of a profit turnaround but is still not producing financial returns which would be acceptable to investors, according to a survey.
Kiwi wineries have struggled in recent years because of the Global Financial Crisis, supply imbalances, high external debt levels and decreased land and vineyard values.
Vintage 2012, released today by Deloitte and New Zealand Winegrowers, shows the industry is gradually recovering but still faces significant challenges.
All but the smallest wineries - those making $0-$1.25 million in revenue - turned a profit this year with that category recording a loss of 5.5 per cent compared to 2011.
Comments