NZ Wine Co profit rises

Friday 9th August 2002

The New Zealand Wine Company, formerly Grove Mill Wines, posted a 43% higher, $1 million, June-year profit on revenue of $6.8 million and said its 1227 tonne 2002 harvest was up 48%.

It announced a one-for-eight rights issue at $2 to fund expanded winery capacity, working capital and vineyard development.

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