Costs up, margins down and the much hyped up lactoferrin just managed to break even for the HY after writing losses in the last half.
Debts now at a somewhat more reasonable level ... that's what capital rises tend to do ...
On the other hand - they actually did set a base for growth - and the outlook looks overall positive.
A more open China market and ATM's success should help.
Still would think that markets feel somewhat disappointed ... might bring opportunities to buy later in the week (or next week / next month) at a more reasonable price into this company.
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"Prediction is very difficult, especially about the future" (Niels Bohr)
After the hyped article in the NBR yesterday predicting a robust profit improvement off the back of A2 and a full year guidance upgrade - this is kinda disappointing.
Costs up, margins down and the much hyped up lactoferrin just managed to break even for the HY after writing losses in the last half.
Debts now at a somewhat more reasonable level ... that's what capital rises tend to do ...
On the other hand - they actually did set a base for growth - and the outlook looks overall positive.
A more open China market and ATM's success should help.
Still would think that markets feel somewhat disappointed ... might bring opportunities to buy later in the week (or next week / next month) at a more reasonable price into this company.
Mkt not impressed today either..... sold my holding at 2.44 for a small gain in the lead-up earlier this week. However, the doubling of infant formula capacity has got to be good for ATM (which I still hold.)
Well, yes - though milk price has no direct impact on SML's profitability - it is obviously desirable if enough money goes to the farmers to keep them in line and happy.
Second site in Mangere: Obviously we first need to see the financials, but I guess it is good they go for a second site and (from a local perspective) it is good this site is in NZ - they talked at some stage as well about an Ossie alternative.
Discl: holding (a XS sized parcel)
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"Prediction is very difficult, especially about the future" (Niels Bohr)
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