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From: "Duncan MacGregor" <>
Date: Thu, 20 Feb 2003 19:45:33 +1300 (New Zealand Daylight Time)

The drop in profit was to be expected.  In fact I was of the opinion It could be worse than what it was.  It remains to be seen if the share price gets hammered like some of the others.  The poor old farmer is so easy to predict he spends nothing when times are bad, and has a spend up in the good times. The farmer cant control what happens to his produce, he loses control at the gate. The system has it that some great fat cat gets the cream while the poor old cocky does a starve. WRI are a good company and will be back but not for some considerable time.  The other farm related companies must go the same, way drop off in farm prices, meat companies next I expect, the farmer battens the hatches in the bad times. WRI will take a dive but be ready when the dollar drops to buy back.
                                                               CHEERS    MACDUNK
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