Kind of silky with the soft background mus
Printable View
Results:
https://www.nzx.com/announcements/397774
and we know what they're doing with some of the cash their sitting on, announcement of a share buyback:
https://www.nzx.com/announcements/397773
Excellent results, beats consensus: http://nzx-prod-s7fsd7f98s.s3-websit...774/377792.pdf
$ 1.446 billion revenue +19.8%
$ 122.6 million net profit +52%
$ 150 million share buyback
ATM on fire ...now surely the worst is over ...No going back below $ 5 !!!
Hmm - any DCF is just as good as the underlying assumptions it is based on. Might be worthwhile to check them and remember how many people are able to predict not just the economic conditions for the next ten years with any accuracy, but who know as well exactly how the big political games will evolve over that time and how consumer demand will develop.
Let us know when you meet somebody who knows :p;
Until then - this is an agricultural company supplying a product consumers can do very well without (as the last year nicely demonstrated). Their target market is shrinking (less and less Chinese babies and less well off Chinese parents) and subject to huge risks in the geo political game.
Their alternative market (the US - plan B) is still loosing money and nobody knows where it will go.
Established agricultural companies sell typcially for an average PE of 10 (considering the cyclical nature of their earnings), ATM's PE is still above 30.
2 dear 4 me - and in my view still plenty of further hype deflation potential in the SP.