Has anyone had a stab at calculating earnings and/or cashflow for the coming year or two?
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Has anyone had a stab at calculating earnings and/or cashflow for the coming year or two?
I would like to think SFF Ltd will make a profit as the price of their major product Beef has not fallen as much as Lamb.
This year their capex will have remained high,a lot of it spent on IT.
A modest profit would be welcome.
Dividend.The CoOp ,that we are shareholders, could decide to pay a divie using some of their rainy reserves.
Note.It is raining heavily at present here in Christchurch..lol
Pity we have to wait until the end of March or beginning of April for the result.
Current share price indicates to me "the market" is expecting a poor result with no,or a very small divie.
I personally think too difficult to estimate.....with no guidance, no trading updates to the USX, no half year result, it makes any forecast reasonably meaningless. Could make some sort of judgement call given Alliance figures available, but don't think its worth it.
They are not at a stage where they are predictable, still the majority of revenue commodity driven and too much reliance on the macro environment/factors outside their control - ie weather, FX, other producing countries, alternate proteins, trade barriers etc.
There is also little publicly available profitability info from competitors - only Alliance and ANZCO, which have the same year end as SFF so comes out at a similar time. We've seen Alliance come out with a shocker, so sets the tone for the others.
Interesting the share price has slowly slid away - $1.15 essentially says the 'market' values the company at $230m, when it made $189.3m net last year.
Obviously not going to repeat this year, but the market holding low expectations....
If as Percy suggests they use a bit of their 'rainy day' funds as a dividend, just how much goes to 'shareholders' and how much to 'suppliers'.
SFF not my kind of investment BUT
Lush green fattening feed throughout the NI at the moment.
They may just have to bump the scheduals up if they want the stock
Hopefully matching capacity with supply.
Typically their main margin period is through summer when there is peak demand for processing, maximum efficiencies, lesser competition for stock and schedule prices can be paired back.
And the old thing.......you can only kill'em once!!
Dan Boulton confirmed as the new CEO.
I am very pleased with Dan's appointment.
Silver Fern Farms has today announced that Dan Boulton has been appointed to be the new Chief Executive of Silver Fern Farms. The appointment will take effect from February 2024.
Boulton is currently Silver Fern Farms’ Chief Supply Chain Officer, having been with the company for over six and a half years. Prior to this, he held roles in the seafood, horticulture and forestry industries.
Silver Fern Farms Co-Chair Rob Hewett says that the recruitment process was extensive and attracted a range of candidates.
“We are fortunate to have been able to consider many high-calibre candidates for the role, including some from overseas,” says Hewett.
“However, the Board felt that not only does Dan already have a breadth of understanding of the business, he is also the right person to lead the company through the current challenges in market and continue the company’s momentum,” he says.
Incoming Chief Executive Dan Boulton says he is excited about taking on the challenge of leading such a great New Zealand company, and despite the current market conditions, is optimistic about the opportunities ahead for Silver Fern Farms and its farmer partners.
“I know from my current role that all our partners across our supply chain are hurting at present. However, this is a moment in time, and I’m confident Silver Fern Farms’ focus on executing its strategy and managing cost will see the company and our partners recover strongly,” he says.
Simon Limmer will stay as Chief Executive through to early February when Boulton’s appointment begins.
Good to see a long serving internal appointment.
Post deleted.
https://www.abc.net.au/news/rural/20...tart/103300910
Bit of a sharp rebound on prices in Oz, where alot of lamb is consumed within Australia. Supermarkets been caught out on their margins......(never happens here!!)
In the meantime, Aussie processing numbers are down with a bit of rain, but might make it challenging for exporters to compete with the domestic market. So from a kiwi perspective, might potentially be a little less Aussie lamb in export markets, as NZ production starts to head towards peak seasonal volumes.
End of an era with Rob standing down, but presumably carries on as co-chair of SFF Ltd. Interesting Anna Nelson only been on the SFF Coop board since May last year!
Media Release: Silver Fern Farms Co-operative – Board Nominations Open & Changes to Governance
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Summary
Nominations are now open for two Farmer-Elected positions on the Silver Fern Farms Co-operative Board. Current Farmer-Elected Directors Rob Hewett and Gabrielle Thompson will retire by rotation at Co-operative’s Annual Meeting on 8 May;
The Co-operative Board has unanimously voted Farmer-Elected Director Anna Nelson to become the new Chair following the Annual Meeting;
The Board has also unanimously voted current Chair Rob Hewett to stay on as an Appointed Director for up to 12 months to support continuity of governance. Retiring Director Gabrielle Thompson has advised she will be standing for re-election as a Farmer-Elected Director;
Nominations for the two Farmer-Elected positions will be open until 20 February at 12 noon. Voting will commence from 4 April and will remain open until 3PM on 1 May. Results of the election will be announced at the Annual Meeting.
Media Release
Silver Fern Farms Co-operative has today announced that nominations are open for two vacancies on the Board and has also confirmed that Anna Nelson will become the new Chair following the Co-operative’s Annual Meeting on 8 May.
Current Farmer-Elected Directors Rob Hewett and Gabrielle Thompson will retire by rotation at the Annual Meeting.
With Rob Hewett’s term as a Farmer-Elected Director coming to an end, the Co-operative Board has unanimously voted to appoint current Director Anna Nelson to be the new Chair, with Rob Hewett unanimously voted to stay on as an Appointed Director for a term of up to 12 months.
Retiring Director Gabrielle Thompson has advised she will be standing for re-election as a Farmer Elected Director.
Current Silver Fern Farms Co-operative Chair Rob Hewett says the changes are designed to create continuity as there is both a change of leadership at a governance level and the Operating Company will have a new Chief Executive.
“With the end of my term on the Board in May coinciding with Silver Fern Farms Ltd recently appointing Dan Boulton as new Chief Executive, the Board has determined that I stay on as an Appointed Director for a short period to help through the transition,” says Mr Hewett.
“While the new Chair and Chief Executive will each bring fresh perspectives and focus, ultimately, the Board is united behind Silver Fern Farm’s strategy and direction of travel and it’s important we keep momentum until the new changes are embedded.
“From our experience working with her around the Board table, the Board and I have a great deal of confidence that Anna will be an exceptional Chair. Despite the prevailing market conditions we’re experiencing, we’re going into the next period in good health and with a clear focus,” he says.
Incoming Chair Anna Nelson says she is looking forward to leading a unified Board and working closely with shareholders and suppliers through the current challenges in market.
“As a farmer as well a Director, I’m acutely aware of how market conditions are being felt right across our supply chain. This gives our Board a clear focus and resolve to continue creating value for the farmers the world needs," she says.
Notes for Editors:
Directors of Silver Fern Farms Co-operative are responsible for setting the Co-operative’s governance and strategic direction. Silver Fern Farms Co-operative owns 50% of Silver Fern Farms Limited (the Operating Company), in partnership with Shanghai Maling.
Nominations are open to candidates who are a current shareholder of the Co-operative and have supplied a minimum of 400 stock units to Silver Fern Farms for each of the last two years. Nomination forms must also be signed by two shareholders who meet the same criteria.
Nominations will be open until 12 noon on 20 February, 2024. Voting papers will be distributed on 4 April with voting open until 3PM on 1 May, 2024. Results will be announced at the Annual Meeting.
Those Directors of the Co-operative who have also been appointed to the Board of the Operating Company will be confirmed following the Annual Meeting.
Somebody wanted out......about 25k through Friday/this morning at $1.06.
The joys of illiquid shares.....solid drop from $1.20.
Don't think there are any director/mgmt disclosures on the USX? In the Annual Reports but otherwise nothing.....
Nice buying opportunity. This (past) year is a completely different kettle of fish, but on last AR, PE of 1.1 and a gross dividend yield on 30.38%. :laugh::lol::laugh: