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Article: AUSTRALIA'S CRANSWICK PREMIUM WINES PREDICTS 15-20% SALES GROWTH.
- Article from:
- AsiaPulse News
- Article date:
- November 28, 2000
CopyrightCOPYRIGHT 2000 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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MELBOURNE, Nov 28 Asia Pulse - Australia's Cranswick Premium Wines is predicting sales growth of between 15 and 20 percent this year, but have warned shareholders that profits probably won't grow at the same rate at first.
Managing director Graham Cranswick-Smith told shareholders at the annual general meeting in Melbourne the company needed to continue ploughing funds back in for further growth.
"Don't expect profits to roar ahead, because we are still very much in the business of brand building and market opening," he said.
"What we're aiming to do is achieve a balance of fair returns to shareholders... and still provide the capital finance ...