Terra Vitae says poor harvest to hit sales, earnings

Sun, 19 May 2019

By Gavin Evans May 20 (BusinessDesk) - Grape grower Terra Vitae has warned earnings will be reduced by a poor harvest. The company, which has vineyards in Marlborough and Hawke’s Bay, says that subject to final pricing, including extra payments for reserve grade wines, it will miss its harvest sales target by about 16 percent. “This result is largely due to cold, wet conditions during flowering in Marlborough in December, followed by incredibly hot, dry conditions over the summer period, which resulted in lower volumes of approximately...

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