getting cheaper by the day .... punters might be happy with a takeover at 35-40
As you would say Bal stupid NZ investors not thinking long term
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H2 last year EBITDA was $33m
So forecast EBITDA this H2 is $22m to $30m
The $22m a reason to panic .... down heaps
The $30m pretty good ... only down a tad on last year in spite of all the things against them
So takes your pick ... pretty good or really bad
All I know droughts seem to have more impact a year on than during them - thats my experience on such things anyway
Not too bad ... 35 is not much of a wipeout ... things will calm down
Wonder what George will tell the press / radio later on
Just all this years gains gone ... as Mr P always reminded us ... the market giveth but the market taketh away just as quick
And when talking market share the fast growing Farmlands/ CRT will not be helping the bottom line and don't forget that farmers own this so the profits come back to them.
I guess I'll have to rug up for the winter and pop my head out come spring time and see how things are....ie, spring time 2014.
This year earnings downgrade is not uncommon for agriculture sector, Skellerup( SKL ) just cut their FY13 earnings ( second times this year) this month if my memory is right.
Nice post Snapiti - think a good opp to top up.
Well here is what I wrote in my post 2696 back in February. And it more or less ties in with Winner's eps assessment post today's PGW announcement. All I can say is for all those that bid the price up into the 40c bracket I tried to warn you.
But no, those who came in late were confident those pointy heads are Forsyth Barr among others were right and PGW was on a growth path. If I had been wrong in my prediction my opponemts would be screaming for a formal apology by now. Of course, I won't be expecting any apology from them because I know that their views were honestly held, despite being misguided.
But fellow PGW investors, please learn from this experience. PGW will be a good investment going forward, but for goodness sake don't pay too much for your PGW shares!
SNOOPY