Terra Vitae, Craggy Range post stronger full-year profits on rising wine prices, bountiful harvest

Mon, 19 Dec 2016

By Rebecca Howard Dec. 19 (BusinessDesk) - New Zealand’s Terra Vitae Vineyards and Craggy Range Vineyards both reported a rise in full-year profit on the back of a solid harvest and improving prices as wine remains one of the Pacific Nation’s fastest growing exports. Terra Vitae Vineyards reported total gross income from grape sales at $8.9 million in the year to June 30, up from $7.1 million in 2015. After expenses, its operating profit of $3.4 million was more than twice the $1.4 million reported in the prior year. The company, which...

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