Cosentino Signature Wines, the California wine maker, maintained it was on track to meet expectations for the full year even as it reported a 34 per cent increase in first-half pre-tax losses.

The group, which had sales of about 850,000 bottles last year, said revenues were down 14 per cent to $4.49m (£2.43m) in the six months to June 30 mainly as a result of delays in shipping stock. Pre-tax losses widened to $354,983, compared with $264,593 the year before.