Pernod Ricard NZ posts smallest loss since 2009 as write downs slow

Mon, 06 Jan 2014

By Paul McBeth Jan. 6 (BusinessDesk) - Pernod Ricard’s New Zealand unit posted its smallest annual loss since 2009 after ending three years of substantial writedowns. The New Zealand holding company, Millstream Equities, narrowed its loss to $9.6 million in the 12 months ended June 30, from $182.3 million, making it the smallest deficit in four years. The Pernod Ricard unit wrote off about $270 million of goodwill and wore a $99 million loss on the sale of local brands in the past three years, and has racked up retained losses of $879 millio...

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