"The results for the first four months of this financial year are ahead of budget," the company's chairman, David Clarke, told the annual general meeting. "We have budgeted for a full year net profit of A$37m, pre-goodwill amortisation, for this current year."
Clarke added that profit after goodwill associated with the merger would be closer to A$34.5m. The merger between Simeon Wines and Brian McGuigan Wines was completed on June 20.