LONDON (Thomson Financial) - Radicle Projects Plc. reported a wider
first-half pretax loss as it said it has
bought a vineyard in South Australia for A$6 million.
Radicle blamed the the wider loss on an increase in farming operating
expenses, the cost of buying the AHP8 project's operations and interest payments
of 600,000 pounds on a convertible loan note.
Radicle, which invests in Australian agribusiness projects, posted a pretax
loss of about 1.077 million pounds for the six months to December 31 compared
with a 563,869 pounds loss the previous year.
The company said it is not declaring an interim dividend but expects to pay
a final dividend at the year end.
In a separate statement, Radicle said it has acquired the assets of
Gumeracha Vineyards in the Adelaide Hills for A$6 million cash.
TFN.newsdesk@thomson.com
kal/wj
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