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Xanadu watch

Xanadu Wines, which last October traded around A$0.45, has forecast a A$2 million loss for the 2003 year, but has suggested that next year it will record a A$2.4 million net profit. An underlying net profit for 2003 was offset by an inventory writedown of A$2 million, plus ‘extraordinary’ costs of A$1.2 million. The company’s managing director, Andrew Moore, remains buoyant, and says that orders for the Xanadu and Normans brands are increasing.

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