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AUSTRALIA: Analysts cautious approval to BRL's JV with Constellation

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Australian financial analysts have given cautious approval to BRL Hardy's new joint venture with the American liquor group Constellation Brands forecasting profits of A$71-72m (US$37.1m - US$37.6m) for calendar 2001. Brokers ABN Amro said the deal was mildly positive and more comfortable than the earlier projected acquisition of the California based Kendall-Jackson. It forecast a net profit of A$72m rising to A$88m in 2002.


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