EastPack

Bay of Plenty kiwifruit post harvest service providers, Satara Co-operative Group Limited and EastPack Limited have announced plans to merge, pending shareholder approvals, to create a new fully grower owned supply co-operative.

http://www.unlisted.co.nz/uPublic/un...cement_id=1767

EastPack’s Full Year Results boosted.
Productivity Gains Boost EastPack’s Full Year Results.

http://www.unlisted.co.nz/uPublic/un...cement_id=1815

Proposed merger of EastPack and Satara

http://www.unlisted.co.nz/uPublic/un...cement_id=2164

Anyone know the outcome of merger of Eastpack and Satara?

Green light for kiwifruit merger:

http://www.unlisted.co.nz/uPublic/un...cement_id=2179

An updated issuer profile has been posted for Eastpack.

2014 Annual Report posted.

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Originally Posted by Armillary Private Capital

2014 Annual Report posted.

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Only had a very quick read,but did note they are spending capital on new equipment and coolstores, preparing them selves for the increase in Kiwi Fruit as the industry recovers from PSA.
Statement of cashflow was disappointing,and they appeared to be carrying too much debt.Current liabilities far exceeded current assets.I am not sure whether it is a timing issues,with the crop about to be picked,or something a bit more serious.

Quote:

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Originally Posted by percy

Only had a very quick read,but did note they are spending capital on new equipment and coolstores, preparing them selves for the increase in Kiwi Fruit as the industry recovers from PSA.
Statement of cashflow was disappointing,and they appeared to be carrying too much debt.Current liabilities far exceeded current assets.I am not sure whether it is a timing issues,with the crop about to be picked,or something a bit more serious.

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They are forecasting $6m profit in FY15. Hopefully this bodes well for Seeka. Both companies process a similar amount of fruit. Eastpack has much higher debt levels ($35m).


Eastpack has 2 classes of share (investor and CO-OP). Combined, it looks like there are approx 49m shares giving a market cap of $32m


Both companies are ramping up volume. Eastpack appears to be ramping up faster (and investing more in capital).


Debt levels are high and they have very poor liquidity (ATM you can buy, but you can't sell). But the pe=5.5!

A summary of the result by Alan Williams
http://agrihq.co.nz/article/eastpack...cts-profit?p=7

Updated issuer profile.