Marlborough Wine Estates Group has reported a net loss of $740,000 for the six months ended Dec 31 2023, an increase of $500,000 compared to the same period the previous year.
The company attributed this to a 12% decrease in total sales revenue, which amounted to $3.7 million.
The decline in sales was driven by lower-than-expected bulk wine sales.
Despite the challenging global macro-economic conditions, MWE saw a 19% increase in domestic branded sales revenue, while international case sales were down 10%.
MWE's focus for growth includes the expansion of its distribution networks and the pursuit of branded premium wine sales.
The New Zealand market remains the largest market for the company's branded wine sales, while the UK and USA are its two largest international markets.
MWE said it will continue to invest in developing its global distribution footprint.
See more
