Oyster Bay Marlborough Vineyards lost $600,000 in the six months to the end of December.
This compares to $830,000 lost in the same period last year.
The listed grape grower says that because of the seasonality of the business its profitability is determined in the second half, but the smaller loss was largely due to cost-cutting and lower taxes.
Overall revenues for the period were up 3% to $3.9 million.
