Australian Vintage Ltd (AU:AVG) has released an update.
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Australian Vintage Ltd has reported a 1% revenue increase to $261 million and a 25% surge in underlying EBITS to $13 million, owing to brand growth, innovation, and cost reduction efforts. Despite a challenging industry environment, the company has achieved market share gains and significant revenue growth in their no-and-low alcohol segment, as well as in North America and China. However, they reported a statutory net loss of $86 million after a strategic shift, resulting in no final dividend being declared.
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