News: MRG Murray River Organics announces acquisition of more than 7,700 acres of farmland in...

May 4 (Reuters) - Murray River Organics Ltd (MRG) :

• Trading update and acquisition announcement
• FY17 bulk dried vine fruit revenue is expected to be up more than 30 per cent on FY16
• FY17 cluster revenue is expected to be up by more than 100 per cent on FY16
• Announces acquisition of more than 7,700 acres of farmland in Sunraysia, adjacent to MRG's Colignan Vineyard, for cash consideration of $7.5 million
• FY17 bulk dried vine fruit revenue is expected to be up more than 30 per cent on FY16
• Deal earnings accretive in FY18
• Acquisition is earnings accretive in year one and will be funded via existing banking facilities