Slightly disappointed with market reaction - and slightly disappointed with management on one issue...the high carry over inventory, which caused an impairment of $27m - would have expected they had contracted more of that when prices were high july/august 2015.
When/if almond prices recover the coming months, then this impairment will be reversed again, so just temporary movement.
Believe the balance sheet and cash position (including leasing/bank lines) are very strong, why the base for growth is in place - would not be surprised to see acquisitions in near future.
Historically, SHV has been conservative with estimates and believe they still are - would not be surprised in final crop levels last year and prices have already recovered since December 2015, why $9.00kg is very likely in the low-low range.
Please see link below for input on AASB 141
http://www.apv.net/wp-content/uploads/2011/11/Agriculture 14 July 2008.pdf
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