KOM target reset at lower level

Marlborough Wine Estates Group (MWE), which was formed in March 2015 to acquire vineyard assets comprising the Otuwhero Estate from Min (James) Jia, is targeting the development of premium New Zealand white wine brands in China. MWE notified the market in April 2017 that it expected to fall short of its key operating milestone (KOM) target for international bottled wine sales revenue by more than 10% for the year to June 2017. It is now resetting the target at NZ$1.3m, down from NZ$3.2m.