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AFC GROUP HOLDINGS LIMITED ( Listed on the NZX : AFC ) 1/245 Ti Rakau Drive Burswood Auckland Ph : +64 ( 09 ) 930-0245 AFC Group Holdings Limited ( AFC ) Releases Interim Results AFC Group Holdings Limited ( AFC Group ) reports its financial results for the six months ended 30 September 2021. The interim financial statements for the period have not been audited . 2021 Half Year Summary The net assets of AFC Group were NZ $ 840 thousand , with a 63 % down from the half- year position as at 30 September 2020. The decrease was mainly due to the impairment of stock and fixed assets resulting from COVID - 19 . Property , plant , and equipment were NZ $ 1,463 thousand . Investment in PPE was on hold considering significant economic uncertainty . Total revenue was NZ $ 111 thousand for the six months ended 30 September 2021 , a decline of 61 % compared to the previous corresponding period due to the lockdown from August 2021. Ongoing pressure from COVID - 19 containment measures impacted the results , and the net loss for the period was NZ $ 451 thousand . Outlook In the first half of the financial year 2022 , AFC encountered continuous challenges due to COVID - 19 spread , NZ border closure and the slow recovery of overseas sales . However , AFC has developed a list of actions to get through the current difficult situation , to enable future revenue growth and return value to our shareholders : AFC Longview Limited ( " AFCLV " and " Longview Estate " ) 1. With an updated pricing strategy on the core product ( White Diamond wine ) and marketing campaigns were launching , AFCLV intends to allow more customers to gain access to our products . In Oct 2021 , a new sales contract of $ 180,000 of wine was signed , and other sales contracts are under negotiation . 2. Longview Estate will continue to participate in different wine exhibitions , such as Winetopia and NZWINE Roadshows , to increase brand awareness and promote sales . 3. AFCLV has significant unencumbered property at Longview Vineyard , including three residential housing units to back up debt raised at the low - interest rate if liquidity requires it . It is not forecast that this will be necessary for the foreseeable future .