Ann: Wellard Market Update, page-9

My goodness me!   Not pleasant to read.

"...losses for the second half of the financial year are likely to be significantly higher than the A$16M loss reported in the Company’s first half."

“Wellard is disappointed to be in this position. Our previous expectations of market improvement at this point in the season have not materialised, with conditions remaining extremely difficult..."

Looks like Wellard have very little control over the situation and have under estimated the market turnaround.   Whilst Wellard indicates a positive cash position for now, the future does look concerning for its survival.

I sold out in April with a loss of $280,000 but hoped to re-enter with more convincing signs of recovery.  Not sure when, if at all, it will happen.  I will continue to monitor.