Judging from reaction market not happy, I'm basicaly a chart trader, and SRP is at a zone where it has held before, whether it will or not this time I dont know? Only time will tell, HO you need to investigate for yourself whether SRP is worthy of being held by you, not relying on the opinions of others as we can oft be wrong. I will hold SRP till end of day and re assess, but that may be a bad descission,.....
WINEMAKER Southcorp Ltd today unveiled a blueprint for its Australian operations that will cost 190 jobs and writedowns of $73 million for this financial year.
The blueprint will move much of Southcorp's packaging and distribution activities to two centres: Nuriootpa in the Barossa Valley and Karadoc in Victoria's Sunraysia district, which will be significantly expanded at a cost of $58 million.
Redundancy and other costs will total $20 million in this financial year.
Two wineries will be closed.
However, the program is expected to deliver additional cash flow of $28 million a year and additional earnings before interest and tax (EBIT) of $27 million a year by the 2008 financial year, mainly due to savings on fixed and freight costs.
