Ditto - have walked passed this one...
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Ditto - have walked passed this one...
Despite doing her best to talk up the SP before the IPO poor Georgina didn't make much of a profit did she?
Labour firm makes NZX debut
07.07.05
By Georgina Bond and NZPA
Labour hire company Allied Work Force made its sharemarket debut yesterday - the main board's first listing for the year.
Shares in the company traded at $1.52 in the opening minutes but ended the day back at its initial public offer price of $1.50.
Celebrating at the company's Penrose headquarters as the market opened, managing director Simon Hull said the listing was the start of a new phase for the company which had raised cash to help it expand.
The firm has a market capitalisation of just under $40 million.
Its initial public offer of 7.6 million shares closed fully subscribed on Friday.
Hull, who started the company 17 years ago, has retained a 68 per cent stake, selling down to raise cash for its expansion.
The remaining shares went to company directors, select NZX participants and staff, so yesterday was the first chance for retail investors to get their hands on the stock.
Allied Work Force has 90 full-time staff and a "crew" of around 8000 skilled and semi-skilled workers which it employs to hire to businesses in all areas of blue-collar work, including construction, distribution, manufacturing, processing and infrastructure.
It has 21 regional branches, and is planning four more.
The company previously forecast a March 2006 year net profit of $3.1 million, on revenue of $74.2 million.
SP still down on listing but today’s announcement shows a bit of creativity towards solving a labour shortage problem and diversifying into land and property.
Allied Workforce buys Blenheim holiday park
06 April 2006
Blue collar labour hire firm Allied Workforce (AWF) said today it has bought a Blenheim-based holiday park to house seasonal workers in the region.
AWF spinoff Contract Labour Services (CLS) bought the Spring Creek Holiday park, 6km from Blenheim, for $1.8 million.
AWF chief executive Simon Hull said Marlborough – with its dozens of vineyards – was a key growth area for the company, but that had been hampered by a lack of suitable accommodation.
The Spring Creek purchase meant CLS could provide accommodation for several hundred workers at the peak of the pruning season.
The park could accommodate up to 280 visitors and was a popular stopover for tourists en route to the Cook Straight ferry.
"We intend establishing the Spring Creek Holiday Park as the first point of contact for all travellers and tourists who either simply need reasonably priced accommodation or who are looking for help and assistance in finding casual and seasonal work in the area," Mr Hull said.
The purchase would be settled next month.
Shares in AWF last traded yesterday at $1.33.
[V][V]:(:( Thats where im staying while i'm working in blenheim.
SOUNDS pretty COOL at first idea but wait for the PROFITS.. [8D]
Happy Camper remembers sharing the camping ground at Tokomaru Bay with a gang of Northland forestry workers back in 2005. They were well set up for this sort of caper.
Happy Camper
AS your been there and seen were or is there money to be MADE..[8D]Quote:
quote:Originally posted by Happy Camper
Happy Camper remembers sharing the camping ground at Tokomaru Bay with a gang of Northland forestry workers back in 2005. They were well set up for this sort of caper.
Happy Camper
I won't be passing through Blenheim again until October of this year, so will be sure to check it out then. I may even park up there for the night. Having just recently finished a wee trip in the van I can assure you, camping grounds seem to be getting their fair share of business at the moment. It has just about got to the point where you need to book ahead!
By my reckoning full-year result for AWF is due to be announced soon. Even with hints of a softening labour market, I am picking that it will be respectable. It had better be, or my recent investment in AWF will not be looking so flash.
Cheers
By crikey, todays announcement certainly gave the shareprice a fair old beating today.
I got out at $1.75 around 20th of July. Around one month later and it is looking like re-entry opportunities under $1.50 will be showing their face tomorrow.
The rational half of me thinks I will stay on the sidelines with this one for a while yet. The irrational half is tempted to "re-pitch my AWF tent" before I go camping with the family late September/early October.
Cheers
THESE things happen but you know the stock which is Good so stick with it and BUY after the drop the mob is wrong all the TIME.. [8D]Quote:
quote:Originally posted by Happy Camper
By crikey, todays announcement certainly gave the shareprice a fair old beating today.
I got out at $1.75 around 20th of July. Around one month later and it is looking like re-entry opportunities under $1.50 will be showing their face tomorrow.
The rational half of me thinks I will stay on the sidelines with this one for a while yet. The irrational half is tempted to "re-pitch my AWF tent" before I go camping with the family late September/early October.
Cheers