Have a read of the outlook comments in regards to wine supply contracts paying over the odd prices..... interesting I saw in the financial review that Brian Mcguigan is selling one one those vinyards that supplies AVG with grapes...
This is costing AVG shareholders $6.5 million a year in paying overs... this seems to me to be a conflict as he is a director, brother is CEO and he is stepping down as a director whilst selling his vineyard with 2 years to run on that over priced supply contract to sell best price with a yield...
This is a joke and I have sold out, cannot trust this management team at all as they are fleecing shareholders and profiting for themselves....
Not even sure if this is legal what they are doing but costing $6.5 million a year for the next 2 years is a lot of missed profit... this has been going on for years id imagine...
anyone feel the same way?
With AUD dropping, debt dropping AVG should be in a great position apart from these contracts paying over the odds for grapes...
This should be raised
AVG Price at posting:
44.0¢ Sentiment: Sell Disclosure: Not Held
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