Shareholder Information

Beangrowers Australia is a public unlisted company limited by shares. There are 1,423,945 shares in Bean Growers Australia Limited.

Company performance - Year 2010/11

Audited results for 2010/2011 will be released to shareholders in October. The year finished on a negative note and was impacted by crop losses, intake quality issues (including weather damage and dirt in many deliveries slowing production), the continuing difficult international market, general lack of business confidence, client business failures and the high Australian dollar. The unaudited result showed profitability retreating to $1,038,616. This is not a poor result but is one that failed to capitalise on a promising beginning.

A large client, Pars Ram Brothers Pty Ltd, went into administration during August 2011. Bean Growers Australia has been a long term supplier to this business and seems very likely to suffer losses in the end result. As the trading debts arising from sales to this customer were incurred in 2010/2011, provision has been included in the accounts for the year. Quite a few industry competitors were also affected. For Bean Growers Australia, the occurrence is a setback rather than a disaster.

New Financial Period

First quarter months, July and August, trading has continued to be below expectation with very poor or no margin being available on some export lines. A turn around in the Mungbean and Adzuki Bean markets would be welcome news. A lot hangs on weather events in other parts of the world and a return of consumer confidence.

Sale of Subsidiary - BGA AgriServices

In light of an excellent offer from Ruralco, the Bean Growers Australia Board made the decision to sell its controlling interest in its rural merchandise subsidiary BGA AgriServices. BGA AgriServices will continue to operate under the same banner with the same staff but a different shareholder. The sale crystalised significant value that had previously been illiquid. Some of the proceeds will be employed to enhance the core Bean Growers Australia business. This enhancement includes a storage upgrade at River Road, Kingaroy.

Shares and Trading

For more information about the impact on Bean Growers Australia share trading arising from the sale of its shares in AgriServices see the letter to shareholders from the Company Chairman Letter to Shareholders. This segment is updated each quarter.

All enquiries to buy or sell shares are to be made with the Company Secretary, Katrina Usher, at the company's head office (see Contact Us).