A second listed Australian wine company has cut its profit forecasts.

Melbourne-based Cheviot Bridge said today (17 May) that it expects its profit for the seven months to 30 June to be between A$400,000 and A$450,000 down from last year's prospectus forecast of A$98,000.

The company blamed a downturn in the domestic market and lower than expected exports.

Last month, McGuigan Simeon Wines also downgraded its projections.