Clearwood loss
PA Wellington Clearwood Thoroughbred Stud, Ltd, has declared an operating loss of $339,976 for the six months to September 30.
In addition, there was an extraordinary write-off of preliminary expenses of $208,590, making a total loss of $548,566. It said that, as anticipated in the prospectus, the com-
pany had made substantial improvements to its stud at Pukekohe. It was now a wellestablished thoroughbred stud.
The stud would not have any progeny on sale until the 1987 yearling sales. Directors expected the company would incur losses In the second six month period, but these were not expected to be at the level of its initial six months.
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Press, 4 February 1986, Page 26
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109Clearwood loss Press, 4 February 1986, Page 26
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