Sector rotation taking place out there - PGW has to be one of the best stocks for investors to switch from yield sensitive stock (like the utilities) into.
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[QUOTE=Snoopy;873241]There was talk in the interim report of ramping up the 'Go Livestock' funding of sheep and cattle. Perhaps the additional borrowing headroom is associated with that?
I failed to spot that Snoopy, so thanks that provides some reassurance that debt is not increasing without a tangible matching asset which has happened in the past. Happy to remain a collector of nice dividends however would prefer to get a lesser dividend while that balance sheet is strengthened.
This was asked on the analysts call today about why the increase in dividend given guidance. They answered it in a diplomatic way, but I think Snoopy is right when he said whilst Agria are on the board they will pump as much dividends as possible.
Anyone have any insight into the auditor resignation?
I recall something at the AGM was said about the current person at KPMG, who was doing PGW's auditing, retiring. In FY2007 KPMG replaced Price Waterhouse Coopers as auditors at PGW. So KPMG have been PGW's auditors for fourteen years, a marathon stretch. I suspect rather than bring a new KPMG bod up to speed, it was mutually agreed that now would be a good time to transition to a new auditor. I don't think there is anything more sinister than that with this change.
SNOOPY