AUSTRALIA: Revised profit warning for George Weston
Australian baker and biscuit maker George Weston Foods Ltd has warned of a worse-than-expected full-year profit of A$37m (US$18.9m) for 2000-2001. CEO Marvin Weinman revealed late last Friday that deteriorating trading conditions and increased competition have meant that operating profit for the full year to 30 June is now likely to be down 24% on last year's figure of A$49.3m after-tax.
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