First sales to Japan and additional disributor appointed(Northern NSW)
Commencement of table olive sales in Woolworths (WA)
This year's harvest (commencing April) will be the largest since inception.
The report demonstrates that FLR is already operating at close to cash break-even and the bigger harvest looks good for maiden profits in 2008. Once the harvest is in the bag the outlook for 2008 will be very bright and a share price rise is in prospect.
The $500,000 placement at 20 cents in January was taken up by one institution and the recent Top 20 shows little change since listing with 46%of the company in tight hands.
A conservative view suggests that FLR will be 80 cents in two year's time (and that's based on only 8 times earnings after full tax)
FLR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
