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BRIEF-Murray River Organics announces acquisition of more than 7,700 acres of farmland in Sunraysia
May 4, 2017 / 3:29 PM / 5 months ago

BRIEF-Murray River Organics announces acquisition of more than 7,700 acres of farmland in Sunraysia

May 4 (Reuters) - Murray River Organics Ltd:

* Trading update and acquisition announcement

* FY17 bulk dried vine fruit revenue is expected to be up more than 30 per cent on FY16

* FY17 cluster revenue is expected to be up by more than 100 per cent on FY16

* Announces acquisition of more than 7,700 acres of farmland in Sunraysia, adjacent to MRG’s Colignan Vineyard, for cash consideration of $7.5 million

* FY17 bulk dried vine fruit revenue is expected to be up more than 30 per cent on FY16

* Deal earnings accretive in FY18

* Acquisition is earnings accretive in year one and will be funded via existing banking facilities Source text for Eikon: Further company coverage:

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