Sour taste

Article Abstract:

Australian foods company Burns Philp and Co. Ltd. stock fell from a Jun 1997 value of A$2.50 to 30 cents in Nov 1997. Analysts have warned investors that the stock presents more of a risk than an opportunity. The company has had particular problems with its herbs and spices division. Analysts say that this division, which accounts for around a third of the company's revenue, produced most of the A$873 million loss which Burns Philp posted for the year to Jun 1997. The company has also borrowed heavily, partly to finance overseas expansion of the loss-making herbs and spices unit.

Securities, Burns, Philp and Company Ltd.

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Feeding frenzy

Article Abstract:

Asian firms are investing in Australia's agriculture and food industry. Acquisitions include Metro Meat, acquired by Citic, the Chinese government's investment body. Asia's demand for food is expanding as Asian economies grow, as Australia is a reliable producer of meat, dairy products and corn. Japanese companies previously showed interest in Australia's beef industry at the end of the 1980s. The investment should help improve production facilities in Australia and increase sales in Asia.

Agriculture, Forestry, Fishing, Agriculture, Forestry, Fishing and Hunting, Agriculture, Australia, Foreign investments, Investments

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