Come to papa... Sydney - Friday - December 8: (RWE Aust Business...

Come to papa...

Sydney - Friday - December 8: (RWE Aust Business News) - Evans &
Tate (ASX:ETW) anticipates that the recent combination of adverse weather
conditions in the Yarra Valley will not have a material affect on revenue
or its financial position but it has significantly reduced expected crop
sizes for the upcoming 2007 vintage.
Crop levels in the Oakridge vineyard and several of the third
party vineyards from which grapes are purchased for Oakridge product have
been affected.
Current estimates are that the overall intake and wine production
at Oakridge will be diminished in vintage 2007, but it is working on
sourcing alternate Yarra Valley fruit to minimise the impact of the bad
weather.
Following the announcement by Foster's Group (ASX:FGL) regarding
an outbreak of phylloxera in the Yarra Valley, Victoria, Evans & Tate
expects the impact on its estate should be minimal.
The Oakridge Winery in the Yarra Valley is located
within the 5km zone of the Foster's winery at which the phylloxera
outbreak was earlier identified.
Preliminary investigations at Oakridge have not revealed any
similar infestation.
Growers, producers and other wine industry participants in the
area are meeting with the Victorian Department of Primary Industry to
determine a plan for minimising the impact and spread of the phylloxera.
This is likely to involve some removal of vines at the
affected site, however to date there is no indication this will be
required at Oakridge.