Australian Vintage Ltd Faces Profit Plunge

Australian Vintage Ltd (AU:AVG) has released an update.

Australian Vintage Ltd has reported a slight 1% increase in total operating revenue for the fiscal year ended 30 June 2024, with a significant boost in underlying earnings before interest, tax, and SGARA by 25%. However, the company faced a sharp drop in statutory net profit, plunging 2421% compared to the previous year. The net tangible assets per security also decreased from $0.90 to $0.60, and no dividends were paid or declared during this period.

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