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McGuigan Simeon profit downgrade

McGuigan Simeon Wines Ltd, which has become Australia’s second-largest publicly traded specialist wine maker, has seen its share price fall around 5% on the news that its 2003 crush came in 13% below expectations. Managing director Brian McGuigan expects the full year result to drop by around 6% from the forecasted profit of A$34.2 million in a regulatory filing in April last year.

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