The future looks bright for McGuigan Simeon Wines, according to its managing director. At the annual meeting on Wednesday, Brian McGuigan told shareholders that the company is on course for another year of double-digit growth.
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McGuigan said that the 2004 vintage looked like being an “excellent” one, while export sales of Australian wine are still booming. The company is now Australia’s fifth-largest wine producer, and McGuigan feels it is well placed to build its market share. The only concern McGuigan has for the future, he said, the higher Australian dollar.
In 2002-2003 McGuigan Simeon recorded a rise in net profit of 27% to A$32.2m, based on sales of A$293m.
