What a shocker result.No mention of compensation for swedes either.Go figure.
Why would a client stick with them???
https://www.radionz.co.nz/news/count...n-compensation
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What a shocker result.No mention of compensation for swedes either.Go figure.
Why would a client stick with them???
https://www.radionz.co.nz/news/count...n-compensation
Well, I am impressed and can not wait to find out how they have managed to reduce "the top end of $65M to $70M Operating EBITDA" down to a mere "approximately $20M NPAT".
But then again, it is PGW and the NPAT is always the least consistent thing about their annual results.
This could be an awesome nteresting breakfast seminar
PGG Wrightson one of stars ...talking about innovation
https://www.blincinnovation.com/upco...ries-breakfast
Interesting noting the sale of the seeds business comes to $439mil [including debt] while the market cap for PGW is just over $483mil.
2017 NPAT from Seed & Grain was $27.2m on assets of $388.6m (though the announcement says net assets at 30.6.2018 of $285m).
The strategic review will be interesting to read! Seems like the majority of the business has just been sold.
Is it worth buying now to participate in the (forecasted) capital distribution?
I wrote the above in 2010.
You are so right Winner. Decades of IP have been lost at the stroke of a pen, and all for a measly $439m. The sell off of seeds was mooted before Mark Dewdney came on board. Mark stopped it. Now Mark is gone 'One PGW' has become 'Two PGW', soon to be 'One much smaller PGW' that will probably be sold off to Elders. And that will end any listed presence on the NZX in this sector. The PGW 'strategiic review' has destroyed the company by selling off the family silver.
Alan Lai has finally got his way...... (not that Alan had much choice as he is in his own debt burdened straight jacket)
Shame on the NZ shareholders if they accept the break up recommendation!
SNOOPY
discl: shareholder