In and out of agriculture

Generally, the reporting season has been positive for us, with the overall value of our equity investments continuing to increase. However, agricultural inestments have not been doing well, partly due to lower prices and partly due the usual problems with weather, water prices etc etc.

We sold all our shares in Select Harvest (ASX: SHV) after another disappointing annual result announcement. Meanwhile, having started to purchase shares in recently listed Murray River Organics (ASX: MRG) we are also disappointed that their result is way below the profit predicted in the prospectus – its actually a loss. Only consolation is that we purchased at an average price of 38c, compared to the listing price of $1.20. We will continue to hold to see how they progress over the next twelve months.