Excellent announcement in these uncertain times. NPAT estimated to be up 8.8% if you exclude the extra-ordinary item of a $3.2m charge for a bad debt against the Timbercorp subsidiary, Almond Management Pty Ltd.
Rainfall has been good as I've previously noted. Almond prices trending up and due to low/no plantings is expected to increase in coming years.
SHV expects TIM orchards will continue even in the event of a wind up of TIM. Given the farm/production equipment SHV owns they are in a good position to retain the work of managing the orchards regardless of who ends up owning the TIM orchards.
Debt facilities rolled over, now due to expire at the end of June 2010.
Ann: Select Harvests Update , page-2
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