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Palandri halt on AIM

WINE producer Palandri Ltd has suspended trading in its shares on the London Stock Exchange’s Alternative Investments Market, citing issues with internal group transactions and warning that interest costs may hit net profit. In a brief statement, Palandri said it was having trouble determining the accounting treatment of funds raised from the inter-group transfer of the rights to the future use of the Palandri brand from the listed entity to its Margaret River Wine Business Trust. The effect on profitability of the transaction, worth $4.5 million payable over a period ending in 2016, has yet to be determined. Palandri also said that its net profit may be significantly below market expectations after being hit by higher-than-anticipated interest costs.

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