Ann: MV Ocean Outback Update, page-7

It is not looking good. Most of the cow/beef related company made money in 2015 FY, but Wellard was lossing lots of money $56m according to their 2015 annual report. The beef price was up and oil price was down (lower oil price benefit QAN and logistic company) in 2015 FY, but WLD was surprisingly making loss. The management was not doing a good job. Can they pay dividend in 2016 FY? They have retained loss of $120m as at 30 June 2015 on the account. Most of their assets are plant and equipment, which are the ships, if the ship sink, it is a disaster to the company. Lots of debt. Hope they would not ask for another capital injection like 1St available, the company who asked their shareholders for futher SPP, capital injection within half year of listing.