Thousands of dollars lost as The New Zealand Wine Company finds itself in a 'perfect storm'.

The New Zealand Wine Company has made a $46,000 loss.

It's blaming it on what the company describes as a perfect storm, created by an over supply of wine, market distortion created by bulk wine sales and the strength of the New Zealand dollar against the pound and the greenback.

The company says branded wine sales declined 27% impacted by the sheer volume of bulk wine sales.

There won't be any final dividend payment.