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TWH, TW HOLDINGS LIMITED
ShareScene.com
post Posted: Dec 15 2011, 11:58 AM
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Name updated by request.

From: CRW HOLDINGS LIMITED (CRW)
To: TW HOLDINGS LIMITED (TWH)

Regards,
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ShareScene.com
post Posted: Jun 27 2011, 02:24 PM
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FROM: COCKATOO RIDGE WINES LIMITED (CKR)

TO: CRW HOLDINGS LIMITED (CRW)

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Share Scene Admin

 
dr_dazmo
post Posted: Dec 10 2009, 08:25 AM
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In Reply To: dr_dazmo's post @ Jul 23 2009, 08:10 AM

Another one bites the dust??

Dr_Dazmo



--------------------
Always remember the Golden Rule - Those with the Gold make the Rules!
 
dr_dazmo
post Posted: Jul 23 2009, 08:10 AM
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In Reply To: Austravel's post @ Jul 22 2009, 08:38 PM

Hi Austravel,
Anything is possible, but I'm not overly confident!

I have seen recently that a large winery in Sunraysia has gone into receivership, and are looking to sell about 8 million litres of wine into the bulk wine market.
As Rooster has pointed out the majors already have large volumes of wine on the bulk market hoping to find a home.
All of this supply is driving prices even lower, and (IMO) is likely to force further inventory write downs at some stage (not just CKR).

Also, if the Board are pinning their hopes on selling wineries, I think they are off in dream land.
Who in their right mind is going to buy a winery, when you can buy bulk wine for a pittance??
Plus, how secure would a lease back to CKR be??

As I say, anything is possible, but I think we have a fair way to go before this cycle turns.

Dr_Dazmo



--------------------
Always remember the Golden Rule - Those with the Gold make the Rules!

Said 'Thanks' for this post: Austravel  
 
the rooster
post Posted: Jul 22 2009, 10:06 PM
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In Reply To: dr_dazmo's post @ Jul 22 2009, 11:40 AM

A long time since I posted on CKR.

Like most wine companies, the going is extremely tough. With some new capital, selling most of the bulk carryover, voiding of supply contracts and cost cutting, they are trying their best.

What is not helping is companies like Fosters dropping their ranges ridiculously into CKR's market. Similarly NZ Sav Blanc is now under $10 and I have even seen it in 2L casks.

The risks are obvious but the reward is much more difficult to determine. If you are an optimist, they can't get much cheaper! I hold.

Cheers



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"Wishing all of you, the best of good buys" - Paul Kangas, NBR.

Said 'Thanks' for this post: Austravel  
 
jons
post Posted: Jul 22 2009, 10:03 PM
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In Reply To: dr_dazmo's post @ Jul 22 2009, 11:40 AM

I don't partake of Cockatoo Ridge, it's not my style.

There is some good news though:

WINEMAKER Cockatoo Ridge has been given a reprieve as a result of the collapse of managed investment scheme company Great Southern Group.

Cockatoo Ridge's onerous grape contracts with Great Southern formed ``the significant element'' of all onerous contracts - part of which formed a $45.5 million writedown for the winemaker in February.

But Great Southern's collapse made those contracts void, Cockatoo Ridge told the Australian Securities Exchange yesterday.

Its ASX update said 95 per cent of a previously cancelled bulk wine contract had been sold to domestic and international customers and annual costs had been reduced by $2 million.

The company had also completed a $2.2 million share placement which had been put towards reducing debt.

"Permanent cost reductions saw the group generate positive earnings before interest, tax, depreciation and amortisation results in both May and June, 2009, as Cockatoo Ridge focuses efforts on developing the branded sale business,'' the company said.

Cockatoo Ridge posted a 48 per cent fall in first-half revenue to $9.5 million on the way to a $53 million loss at December 31, due to the writedown on its grape contracts, brand names and bulk wine remaining in its tanks.




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Austravel
post Posted: Jul 22 2009, 08:38 PM
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In Reply To: dr_dazmo's post @ Jul 22 2009, 11:40 AM

dr_dazmo thanks for the reply. So you don't think they can dig their way out of the situation they are in?

 
dr_dazmo
post Posted: Jul 22 2009, 11:40 AM
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In Reply To: Austravel's post @ Jul 21 2009, 11:27 PM

Good question!
I'd be expecting more asset write downs, and with $18m of debt, I doubt they will survive (although I'm no expert).

Oh, when was the last time you had a bottle of Cockatoo Ridge??

Dr_Dazmo









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Always remember the Golden Rule - Those with the Gold make the Rules!

Said 'Thanks' for this post: Austravel  
 
Austravel
post Posted: Jul 21 2009, 11:27 PM
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In Reply To: dr_dazmo's post @ May 15 2009, 10:36 AM

So guys any thoughts on this one at present? Looks like they are trying to turn it around but not sure if it's worth the risk as only just starting to look at it. Any views most welcome.

 
dr_dazmo
post Posted: May 15 2009, 10:36 AM
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Not long ago this winery was purchased.
In hindsight, probably not a wise move!

Dr_Dazmo

http://www.wineryforsale.com.au/sale.php?ID=118

Region: Riverland, South Australia
Method of Sale: For Sale by Expressions of Interest

Information Summary

  • 20 million litre storage depot;
  • Capable of processing >20,000 tonnes, subject to an upgrade of waste water treatment system;
  • A modern, low cost plant with scope for expansion;
  • For sale by expressions of interest closing 25 June 2009.




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Always remember the Golden Rule - Those with the Gold make the Rules!

Said 'Thanks' for this post: Austravel  
 
 


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