The New Zealand Wine Company

High Dollar Affects The New Zealand Wine Company Limited 2007 Result

The New Zealand Wine Company announces an audited net tax paid surplus for the June year ended 2007 of $961,000, 6.3% lower than the prior year.  Total revenue reported was a record at $10.716 million – an increase of 13.8% over 2006. The comprehensive income of $1.903 million – after independent revaluation of the Company’s fixed assets – was up by 12.9% on 2006 lifting the per share asset backing from $2.31 to $2.46.
Chairman Mark Peters said that “The unexpectedly strong, and continually increasing, value of the $NZ throughout the past financial year has turned what would have been a record result into an average year for earnings.”  “A pleasing aspect of the year is that sales volumes were right on target with the growth strategy implemented by the Company in recent years. One definite factor in sales growth has been the formal accreditation of CarboNZero® status for the winery in 2006.” he said.
The final dividend of 4 cents per share fully imputed will be paid to shareholders in September 2007.
The Annual General Meeting will be held in Blenheim on Tuesday 25 September 2007.
Authorised for public release.
For further information please contact:
Mark Peters
Chairman, The New Zealand Wine Company Limited
PO Box 67, Renwick, Marlborough
Tel: +64 3 578 7159             Fax: +64 3 578 8968