Pernod Ricard's Millstream unit turns to loss on goodwill impairment

Wed, 03 Jan 2018

By Sophie Boot Jan. 4 (BusinessDesk) - Pernod Ricard’s New Zealand unit turned to a loss in 2017 after it booked a $150 million goodwill impairment. The liquor group's Millstream Equities posted a $136.2 million loss in the year to June 30, 2017, from a $7.4 million profit a year earlier. Revenue rose to $248 million from $241 million a year earlier, while cost of sales increased to $178 million from $160 million the prior year. Millstream Equities owns a number of New Zealand wine brands including Church Road, Brancott Estate and Ston...

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