An oversupply of New Zealand wine blended with high levels of bulk wine sales, a strong dollar and tough competition has hit the NZ Wine Company's bottom line. The company said it expects an underlying loss before revaluations and income tax for the June 2011 year of up to $1.3 million. NZWC chairman Alton Jamieson said the company was now focussed on a restructuring and recovery plan for the 2012 year.