What poor decisions?
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Well spotted. http://www.fernridge.co.nz/
14. ACQUISITION OF SUBSIDIARYOn 11 January 2016 the Group acquired a further 25% of the share capital of associate entity, Fern Ridge Produce Limited (Fern Ridge), increasingits shareholding to 75%. In a separate transaction, 2.12% of the shares were then sold to an employee of Fern Ridge and Scales entered intoagreements with the remaining shareholders of Fern Ridge whereby those shareholders have an option to ‘Put’ their shares to Scales at a valuebased on a multiple of the Fern Ridge profits but with a minimum value equivalent to that paid to the selling shareholders. The obligations toacquire the shares under the Put options are included in other financial liabilities.
Impact of the acquisition on the results of the GroupFern Ridge contributed $637,000 to the Group profit after taxation for the interim period. Group revenue for the interim period includes$27,416,000 in respect of Fern Ridge
King1212: Wrong shares, wrong bracket and wrong jurisdictions. Lots of them.
http://www.nzherald.co.nz/business/n...ectid=11700537
Forgot about the top-up from insurance claims last year.
The increase in underlying operating profits would of course be much higher.
Thanks for your posts on this one mate. You are right the analysts seem to like the result http://www.4-traders.com/SCALES-CORP...561/consensus/ and I am sure there's a good future ahead. Probably got a bit ahead of itself lately at $3.50 but on any meaningful correction like what's going on today or a bit more I start to get interested. Disc: Trimmed down a bit at $3.30, interested in reacquiring at the right price.
I think a target price of around $3.50-3.60 in 12 months is about right.
Market speaking post announcement
At best all I can see is SCL share price being range bound between 300 and 330 for a while
Reduced holding a while ago - the rest might be destined for the same treatment
No prunes on my All Bran
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One is more bullish. Am watching the trades, volumes and general market language here. Positioning is taking place and one believes significant trades are pending (at the right price of course). There is enough in the current data to suggest another upgrade in the offing. Further, trials by Alibaba sold 60,000 apples in 90 minutes: http://www.stuff.co.nz/business/bett...all-kiwi-firms
Why they choose apples? Because of DEMAND. Oysters - for other reasons connected to relaxing of 1 child policy perhaps?
Anyway all this tells a story that isn't over yet. And CR knows it.
P.S. this can only help. http://www.nzherald.co.nz/business/n...ectid=11701585