AUSTRALIA: Xanadu profits exceed expectations

Xanadu Wines of Western Australia has reported an annual profit of A$758,000, more than A$200,000 above prospectus forecasts. Strong export of its wines from the Margaret River district helped double sales. Meanwhile, a US distribution deal with William Grant & Sons was set spearhead sales of 155,000 cases a year by 2003, the company said.

September 17, 2001

Xanadu Wines of Western Australia has reported an annual profit of A$758,000,
more than A$200,000 above prospectus forecasts.

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