Great comments. Nice to see. I need this to keep from being too...

Great comments. Nice to see. I need this to keep from being too "anchored".

What I've found is that even a 30% reduction of income in one year would apprimately reduce epu by half so
on an operating cash basis, profit would take a hit of about 50%, so rough calcs give a potential epu of around 4 cents per annum. I can live with that at current share prices.

Another positive is the increasing interest rates should significantly reduce the outstanding hedge liability , improving NAV even more by mid 2010.
Admittedly, further reduction in portfolio value will reduce NAV however.

Are there any comments on the wine industry in general at the moment? Signs of improvement yet?
Major tenant, AVG seems to be looking brighter. Or should I put down my rose coloured glasses.