Not posted here before but thought, since the New Year is nearly upon us, I would give it a go!!!
My choice is Palandri, an Australian AIM listed company who's epic code is PRI. Their business is wine making
Basically this company is planning to lift its annual production to 500,000 cases of premium wine by 2010, which would see an expansion of its current winery capacity from its existing 4,500 tonnes to 7,500 tonnes.
The company is also seeking to control over 600 hectares of Western Australian vineyards. It currently controls 350 hectares.
In a trading update dated 26 October it said that it was to target major UK supermarkets to the extent they will represent 80 pct of sales by 2010. In addition Palandri expect to be paying dividends in the near future
Palandri wine can be purchased currently in both the Co-op and Somerfields.
Key points for the results to 30 June 2005 were:
* 83.5% increase in pre-tax profits to A$3.1m
* 44% increase in post tax profits to A$2.16m
* Net assets of the Group increase by 5% to A$46.6m
* Revenues A$26.0m (down 26%)
* Operating expenses A$22.9m (down 32%)
