Interim Report for 9 months ended 31st January 2008.

Notes.

1

Inventories.

Inventories can be analysed as follows:

31st Jan

31st Jan

2008

2007

Ro. ' 000

Ro. ' 000

Raw materials

572

509

Standing Crops/Beef herds

505

406

Finished goods

53

68

Spares and consumables

255

242

Less: Provision

-65

-93

1320

1132

Finished goods at 31.1.2008 represent 4 days of sales (2007: 5 days)

2

Trade Receivables

At 31st January 2008 trade receivables can be analysed as follows:

31st Jan

31st Jan

2008

2007

Ro. ' 000

Ro. ' 000

Trade receivables

694

787

Less: Provisions

-40

-36

654

751

3

Segment Reporting

The Company operates in one business segment of Agriculture and Livestock development.

All relevant information relating to primary segment is disclosed.
 

4

Bank loans and overdrafts

These can be analysed as follows:

31st Jan

31st Jan

2008

2007

Ro. ' 000

Ro. ' 000

Bank loans

            1,737

                   1,000

Overdrafts

               448

                      341

            2,185

                   1,341

Less: Current maturities of bank

           -1,248

                     -641

loans and bank overdrafts.

Long term element of bank loans

               937

                     700

The Bank loans bear interest at rates ranging between 4.00% to 7.03% per annum.

The Bank overdraft facilities bear interest at rates between 6.5% to 7.5.%.

per annum and are renewable on   December 2008.

Bank loans are repayble within as detailed below:

The maturity of the bank loans:

31st Jan

31st Jan

2008

2007

Ro. ' 000

Ro. ' 000

Due within 1 year

            1,248

                        641

Due after more than 1 year

               937

                        700

            2,185

                      1,341

5

Investment in associates and subsidiaries.

Associates (See also Note 7 )

Investments in Associates are accounted for using the equity method.