Included in the result was a goodwill writedown of A$59.1m resulting from the directors’ assessment of the acquired goodwill from the merger with Simeon Wines Ltd. Net profit before the goodwill writedown was A$11.45m, up 32% from A$8.65m.
AUSTRALIA: McGuigan Simeon posts A$47.4m net loss
Australian wine group, McGuigan Simeon Wines Ltd, posted a net loss of A$47.68m for the 12 months to the end of June, against a net profit of A$8.65m for the previous year. Revenues rose by 18% from A$86.03m to A$101.34m.
September 10, 2002