and the next few season's Bull & Cow haggling + Weaners trade look like ? ;)
A bit of a one-off IMO .. like NZLM being paid a fee for buying multiple muddy paddocks for NZL to have some acreage .. ;)
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Not sure if you had a chance to look at the results. Operating cash flow was 4.5 million and closing cash was 2.5 million higher than a year before, after raising 2.7 million and spending it on debt reduction and NZRLM. They also put another 1.5 million into livestock lending and paid out a dividend.
the excuse with ALF in past for a very late TBA dividend has been the bucks have been tossed into the Stock lending
NZLM should mean an end those excuses, with what should be more cash flow available unless they choose to
continue coming up with delaying excuses or not take the cash at all from NZLM ;)
Stock lending is showing soiid growth for both PGW and ALF.
I would prefer no divie, so as ALF can increase their stock lending book.
Rabobank Agribusiness Monthly: NZ Price Records Sprung ahead of Spring.
That headline says it all.lol.
Seasonal, Market or other factors can & do change in less than a single season, more so than cyclical influences ;)
http://nzx-prod-s7fsd7f98s.s3-websit...880/354395.pdf
From the annual report.
Shares on issue..28,807,000 [page 34] at current share price of 64 cents gives a market capitalisation of $18,436,480.,which means ALF is still a small company.
Net profit after tax was $2,021,000 [page 6] meaning current PE ratio is 9.12
Growth in Livestock lending,currently $5.2 mil is projected to hit $10 mil within the next 2 to 3 years.[page 12].
Statement of cash flow from operating activities was an extremely healthy $4,501,000 [page 29].
ALF is is sound financial shape with excellent growth opportunities.,and I would expect they will not pay a dividend,but use the funds for growth..
High milk prices may deter farmers hanging onto boby calfs,which will work to ALF's advantage.
Something happened big behind the door the chairman and director gone and now the biggest shareholder bought out elevation capital has different direction fir the business