Aus Vintage expects H1 profit dip

Company News

Australian Vintage Limited (ASX:AVG) concedes it expects first half sales and profits for the current financial year to be lower amid tough conditions in the wine industry.
The wine maker expects sales to be down six per cent on the same period last year, with declines being experienced mainly in lower margin products such as casks. 
Chairman Ian Ferrier says the tough conditions faced by the wine industry continue and recovery is expected to be protracted as big retail chains continue to put downward pressure on prices.
Despite the hardships, Australian Vintage remains confident its full year profits will be in line with last year.
Australian Vintage booked a net profit of $7.1 million for fiscal 2012.

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.