Agria had only a minority stake of 49%. I'am sure Mr. Lai has a good reason to sell. Perhaps they prefare PGW's seeds, or they see an advantage in Zhongdan 909. 2014 can be the turnaround for Agria/PGW
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Agria had only a minority stake of 49%. I'am sure Mr. Lai has a good reason to sell. Perhaps they prefare PGW's seeds, or they see an advantage in Zhongdan 909. 2014 can be the turnaround for Agria/PGW
There is some more information in the annual report text about the poor performance in South America.
AR2013 p11 "During the year we ceased operations through our joint venture livestock export business which led to a year on year decline in earnings."
"While we enjoyed particularly good growth in irrigation, competition in the animal health sector increased while turnover in the real estate market remains subdued with a gap between the price expectations of vendors and purchasers."
While as in New Zealand the poor result in South America is foreshadowed with the compensator 'good growth in irrigation', it would be interesting to know how much of the loss in profitability in South America was because of the end of the livestock contract. In New Zealand the operational side of the livestock had their profits halved in FY2013. Perhaps with a more normal climate year, there is a way back to worthwhile profitability in South America after all?
SNOOPY
Dear Sirs,
any News in the pipe für PGW ? I have seen large volumes for Agria on September 26th, highest volume since 3 month, and today highest volume since Februar.
Do you expect any kind of good news during the next weeks ?
The AGM is coming up in a couple of weeks. Since it is just down the road from me, I will probably go and let you know any new gossip!
It has been reported that millions of dollars worth of irrigation equipment are either being installed in Canterbury, or are on the water. This is all a result of the storm damage we had in Canterbury last month. The Pumping and Irrigation unit of PGW is headquartered in Canterbury so they may be getting some spin off. But Canterbury is very busy for new irrigation installations anyway. So even with no storm, PGW irrigation would not be short of work.
An upgrade to the Fonterra milk price payout over the last week may be helpful for PGW too. But milk farms are only one part of the agricultural businesses that PGW Agriservices deal with.
SNOOPY
PGW Directors.....Just received the docs for the Annual Meeting which includes the voting papers for directors. None of these folk seem to have significant experience in the agricultural world. I had, perhaps naively, thought that it would be a pre-requisite to have at least some board members with experience in the agricultural segment. To me this seems concerning....any comments ? Maybe I'm off track with this thought pattern and need some calibration.
I'm not giving up on PGW quite yet but am getting close to it, new blood could do good. I reckon the share price could still go up a little bit. I bought in at 0.450 back when i bought based on broker research and was hoping to break even. However if the share price drops to 0.370 i'll cut my losses and call it quits.
Agria(GRO)jump 30c to us$1.58 and over 1m shares traded today, what's up?