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BRIEF-Marlborough Wine Estates Group updates on wine supply agreement between unit and Great Esprit
April 18, 2017 / 8:53 PM / in 6 months

BRIEF-Marlborough Wine Estates Group updates on wine supply agreement between unit and Great Esprit

April 19 (Reuters) - Marlborough Wine Estates Group Ltd -

* Advised it is unlikely Great Esprit will be able to meet minimum annual commitment to purchase bottled wine for FY ended June 30, 2017

* Advised it is unlikely Great Esprit will be able to meet its minimum annual commitment to purchase bottled wine for year ended june under agreement

* Commitment was for $3 million of bottled wine and mwe was advised that expected performance against this commitment is likely to be $1.3 million

* Inability to meet annual commitment will adversely affect co’s operating milestone target of international bottled wine sales revenue by more than 10% Source text for Eikon: Further company coverage:

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