Australian Agribusiness Group - Agribusiness Australia

AAG Agri-Index » FYTD breakdown

An overview of the Financial Year to Date (FYTD) monthly performance of the AAG Agri-Index in comparison to the All Ordinaries.

In the financial year to date, the AAG Agri-Index has added an impressive 15% to its total value, while the AllOrds performed marginally better, rising 22% as markets continued to rebound.
 
Last updated 8 December 2009.

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Chart. 1 July - 30 November 2009

   

Performances from the three sub-sectors has been diverse with the producer and diversified sectors having fallen 13% and 45% respectively, while the manufacturer sector gained 21%.

Dromana estate has leaped its way up the ranks of the Agri-Index, finishing an impressive 131% stronger for the FYTD. The catalyst being agreements for investment by Hong Kong based companies and an agreement to distribute wine in China, both outlined in the monthly review. Furthermore sound results were released in its quarterly report for the period ended September 2009.

Australian Vintage has risen 93% for the FYTD thanks to strong cash flows and reduced debt therefore allowing new longer term financing arrangements to be secured. The reduced debt and lower costs has seen a $29 million positive operating cash flow for the second half of FY09. AVG chairman, Ian Ferrier, told investors “that AVG had outperformed the industry in the 2009 year with good sales growth in a falling market for Australian wine,” with sales up 9%.

Prince Hill Wines has added 75% over the financial year with speculation and the fact payments were received in full for the sale of the vineyard, winery, function centre and cellar door located in Mudgee, NSW.

Select Harvests has risen 68% since July, thanks to an announcement in September that saw a sale contract that was executed for Timbercorp’s almond orchards in which SHV will continue to manage on behalf of the purchaser until completion of the original contract. This will provide valuable orchard management revenue for SHV.

The top 5 Increases- 1 July 2009 to 30 November 2009

Code	Company	1/07/2009	30/11/2009	Change
DMY	Dromana Estate	$ 0.016	$ 0.037	+131.3%
AVG	Australian Vintage	$ 0.145	$ 0.280	+93.1%
PHW	Prince Hill Wines	$ 0.008	$ 0.014	+75.0%
SHV	Select Harvests	$ 2.160	$ 3.630	+68.1%
GSF	GSF Corporation	$ 0.003	$ 0.005	+66.7%

Clean Seas Tuna has remained as the worst performers, closing 49% weaker since the start of July. CSS fell sharply after the announcement in October of the placement of 168 million new shares to raise gross proceeds of $42 million, diluting existing shareholders and signalling to the market of its weakening cash position.

Marine Produce Australia has finished 44% weaker since 1 July with sales having slowed during the colder winter months in line with the seasonal nature of fish sales.

Forest Enterprises Australia is 42% weaker for the financial year to date, having suffered through its involvement within the MIS industry and has been further punished by the market as a result of its capital raising for $39.5 million which was at a significant discount to market.

Elders continued to fall throughout the financial year, finishing 42% weaker with the recent $150 million capital raising. More recently, Elders announced agreement on terms for the sale of the ITC Timber business to Gunns with the exclusion of the 50% stake in the SmartFibre woodchip joint venture.

Cervantes Corporation round out the list of worst performers, closing 39% lower for the FYTD.

The top 5 Decreases- 1 July 2009 to 30 November 2009

Code	Company	1/07/2009	30/11/2009	Change
CSS	Clean Seas Tuna	$ 0.615	$ 0.315	-48.8%
MPA	Marine Produce Australia	$ 0.068	$ 0.038	-44.1%
FEA	Forest Enterprises Australia	$ 0.125	$ 0.072	-42.4%
ELD	Elders	$ 0.240	$ 0.150	-42.3%
CVS	Cervantes Corporation	$ 0.049	$ 0.030	-38.8%