Pernod Ricard NZ falls deeper into the red on $119M write-down, dwindling sales

Tue, 08 Jan 2013

By Paul McBeth Jan. 9 (BusinessDesk) - French liquor giant Pernod Ricard's local unit widened its annual loss after writing down the value of assets and investments by some $119 million and as falling sales and higher costs flattened its margins. The New Zealand holding company, Millstream Equities, reported a loss of $182.4 million in the 12 months ended June 30, according to financial statements lodged with the Companies Office. That's up from a loss of $105.3 million a year earlier when it booked a $99 million loss on the sale of local as...

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