MRG - Murray River Organics Group

[System]

Murray River Organics is an Australian producer, marketer, manufacturer and seller of certified organic, natural and better-for-you food products.

Murray River Organics has a growing portfolio of certified organic products, which are sold into 26 countries. Its products include dried vine fruit, table grapes, nuts, seeds, dried berries, chia seeds, prunes, dried ginger, dried mango, quinoa, coconut products and rice. Murray River Organics' product range is targeted at the rising consumer demand globally for natural, healthy and organic foods, and is an important part of the Group's strategy.

It is anticipated that MRG will list on the ASX during December 2016.

http://www.murrayriverorganics.com.au

 

[andriti1010]

Surprised there hasn't been more chat on this IPO.

Was pretty highly publicised and oversubscribed...yet finds itself down nearly 10% from IPO price, perhaps with the influence of BAL playing a part?

Seems to be a very different kettle of fish though...apart from focusing on Organic products, China barely rates as a target market for the company, and they have a very diverse offering of products. Keen to hear others thoughts.

If you're not familiar with the biz, this is a good write-up
http://www.iposociety.com.au/ipo-summary-murray-river-organics-asx-mrg/

 

[So_Cynical]

Floated at $1.30 back in Dec 2016, current SP is 38c ~ 52 week and all time low of 28c.

They have some good assets, MRG is a bit of an organic dried fruit etc roll up.

https://www.murrayriverorganics.com.au/

 

[greggles]

Floated at $1.30 back in Dec 2016, current SP is 38c ~ 52 week and all time low of 28c.

Murray River Organics just can't seem to catch a break. Since listing it has lurched from one problem to another.

Their 2017 harvest was impacted by undesirable higher moisture levels, resulting in significant inventory write downs. There have also been issues with the 2018 harvest with fruit that should have been sold as fresh in FY18 will now be sold as dried in FY19. The bottom line is that FY18 sales are now expected to be $67-$70 million and EBITDA is now expected to be a loss in the range of $8.3 million to $9.3million.

In April they appointed another Managing Director and CEO and from the looks of things they will need to raise capital sometime this year.

Here's the story since they listed. Not an impressive performance.

 

[System]