Webster Ltd forecasts walnut crop losses in market update to ASX

WEBSTER Ltd fears its walnut yield for 2015-16 season could be down by about 20 per cent because of problems with nut set.

Webster's Walnut Orchards (Australia) is going through a major expansion. Pictured is some walnuts at Webster's Swansea Orchard.

WEBSTER Ltd fears its walnut yield for 2015-16 season could be down by about 20 per cent because of problems with nut set.

In a market update to the ASX today, Webster Ltd executive chairman Richard Haire said the incident had occurred late in the walnut pollination period.

“While it is early in the cropping cycle for 2015-16, the financial performance of Webster is dependent upon a range of factors including cotton yields and market prices,” he said.

To June 30, 2015, Webster made an $5.8 million profit after tax from $58 million of revenue.

Webster has orchards in New South Wales and at Swansea, Tasmania’s East Coast.

Webster shares are trading 12 cents down at $1.17 a share.

Originally published as Webster Ltd forecasts walnut crop losses in market update to ASX