Marlborough Wine Estates margins squeezed

Thu, 11 Feb 2021

Listed winemaking minnow Marlborough Wine Estates narrowed its first-half loss due largely to an insurance payment on destroyed inventory, offsetting the fact that its margins were squeezed.The OTU winemaker reported a loss of $481,000 in the six months ended Dec. 31, smaller than the $651,000 loss reported a year earlier. While revenue rose 19 percent to $2.4 million, gross profit was largely flat at $216,000 on a rising cost of growing grapes and producing wine. A $300,000 insurance payment bolstered the bottom line. Marlborough Wine sai...

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