The cash was used to pay down debt.
"The recent capital raising of $39.5 million (net) has reduced our gearing to a comfortable 38% compared to 58%"
Of more concern to me are the coded statements on the crop. They say crop levels are down but quality good. As they produce quaffing wine, the quality may not offset the volume loss. Having said that, from memory they were overstocked at one stage, so perhaps a lower crop is a good thing?
Anyone else any thoughts?
Ann: Half-Year Report - 31/12/13 , page-3
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