Macquaries recently lifted their one year target price from 69 to 74
Accordinging to a little story in The Independent their analyst Lyall Taylor bekieves that Coats half year result and outlook wilb particularly weak and is forecasting a loss of US$12m odd for the period. He reckons that Western apparel is yet to show any signs of stabalisation in the market. He uses a carrting value of Coats in his workings of US$300m
He reckons GPG NAV is 98 cents but doesn't believe it should trade anywhere NAV as GPG is a 'high cost vehicle' with management costs averaging 1.8% over the last 6 years,
That high management cost affecting the share price I agree with ... just think what the NPV of that 1.8% cost really is .... heaps
RIC is always in problems in court in Canada , stock feeds you name it there had it
many people have thought this is a goer BRICKS held it for years with the same results
in the end just walked away.. But interesting thing is the Salt side all sorts very big
but lacks money you mite have noticed GPG got there 10% holding very EASY..
RIC is always in problems in court in Canada , stock feeds you name it they had it
many people have thought this is a goer. BRICKS held it for years with the same results
in the end just walked away.. But interesting thing is the Salt side all sorts very big
but lacks money you mite have noticed GPG got there 10% holding very EASY..
For those GPG shareholders who know nothing about Ridley Corporation, may I correct a few misconceptions that have been spread on this thread, and in other places.
It is true that Ridley Corporation (RIC) had a US/Canadian listed arm (Ridley Inc). It is also true that some Canadian farmers had a go at Ridley Corp and Ridley Inc through the courts trying to make out that they their herd may have got mad cow disease through Ridley supplied stockfeed. However, nothing was ever proven. In the end all cases were settled out of court. Subsequently Ridley Corporation sold its interest in all of its US business to a private equity concern.
So despite what Bricks says and despite what the article in the NBR said yesterday, Ridley Corporation has *no interest in any business in the US or Canada* any more. The sale of Ridley Inc (the US arm) was completed on 5th November 2008, over nine months ago. How do I know this? Because I am a current Ridley Corporation shareholder. I am somewhat bemused that an article as sloppily researched as that NBR web article made it to press.
The proceeds from the sale of the US arm were used to pay down debt. So RIC is now only modestly geared.
The salt side of the business is currently way more profitable than the animal feed side of the business. The salt side of the business is also sitiing on a valuable land bank that Ridley are intending to develop as a joint venture. This is where things stand now at RIC.
SNOOPY
discl: hold RIC
Watch out for the most persistent and dangerous version of Covid-19: B.S.24/7
RIC, IS STILL A DOG the court case may be settled but it cost them dearly and where glade to get out of the situation, Stock feeds have been suffering from drought and cost of
seed still not much better, the SALT just keeps moving on as there is not much competition the stock is not going broke and has very limited following in AU but there is NO short term quick profits to be MADE..
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Originally Posted by Arbitrage
DOG with different FLEAS..
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