Forestry shares regenerate after from ATO Date: 24/7/2003...

Forestry shares regenerate after from ATO

Date: 24/7/2003
Author: Martin Pretty
Source: The Australian Financial Review --- Page: 25

Australia's listed agribusiness investment companies have performed well during 2003. The share price of Timbercorp has gained around 89 per cent in the year to date, while Gunns Limited has gained around 36 per cent. Willmott Forests' stock has risen by 160 per cent during the same period. Most of these companies are currently trading at low price-earnings ratios, while most are also enjoying healthy earnings. The renewed investor confidence in the sector follows a period of uncertainty following the Australian Taxation Office's crackdown on tax-effective agribusiness investment schemes.