I agree. Those multiples are anything but compelling for what is primarily an agri stock. Happy to eat their apples though :)
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Happy to eat NZ apples - the best in the world.
The Australians cannot figure out how our apples are so much better (juicier, sweeter and crispier) than theirs now that they get NZ apples over there.
I told them that it's all due to the fair dinkum soil, climate and weather we get over here.
Bought into this company soon after listing, Quite happy to hold for the dividend yield.
Disc. Investor
Yeah its growing apples but you must be reading a different presentation that the rest of us because it isn't growing EPS and neither is it forecasting too.
PE's don't contract when EPS reduces, they expand ! http://nzx-prod-s7fsd7f98s.s3-websit...829/275361.pdf - see page 4 ...these are NOT compelling numbers for any Bull...pretty compelling if you're a Bear though.
Possible expansion into forestry as the govt s 1 billion trees plan takes shape. Good macro opps out there. Growing pine seedlings, etc.
Not sure how far through the harvest they'd be, but looks like some fairly brutal weather in the Hawkes Bay
https://www.stuff.co.nz/national/102...ng-evacuations
would insurance cover crop that is harvestable but lower grade due to skin imperfections, bruising etc?
edit: I'm not familiar with commercial fruitcrop insurance, but was of the understanding premiums were reasonably expensive (equating atleast 15% of total crop price each harvest). I'd have guessed if any insurance was in place it might be more for total loss rather than reduced quality?