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Article: AUSTRALIAN GRAIN GROWER TANDOU RETURNS TO PROFIT ON WATER SALE.
- Article from:
- AsiaPulse News
- Article date:
- February 10, 2009
CopyrightCOPYRIGHT 2009 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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SYDNEY, Feb 10 Asia Pulse - Tandou Ltd (ASX:TAN) is expecting its full year result to rebound to a A$11.5 million (US$7.8039 million) profit, as the cotton, grain and fruit producer benefits from selling some water rights.
Its shares jumped two cents, or 11.43 per cent, to close at 19.5 cents on Tuesday after the announcement.
The revised forecast, from a previous estimate of a A$5 million to A$6 million loss given at the half year report, will mean an early recovery from the loss of A$9.3 million during calendar 2007, Mildura-based Tandou said in a statement.
Chief executive Guy Kingwill saidthe profit followed the successful said of ...