Thanks for posting the link.
Printable View
Thanks for posting the link.
There appears to be a significant support at 95c, so hopefully this is our low this cycle :mellow:
Annual Report - https://prod-trade.usx.co.nz/api/fil...672eb5e3f2.pdf
Robotics at Finegand
https://www.farmersweekly.co.nz/tech...obo-meatworks/
Alliance now raising more capital from their farmer shareholders - basically making more deductions from livestock payments to increase share capital, and increasing their share requirements. They were carrying over $170m of debt at the end of their last FY, which is at the low point of the season/activity and want to use Lender funding for seasonal working capital needs only.
The Board believes the proposed changes will:
- Restore balance sheet strength
- Meet lender requirements
- Continue our drive to be New Zealand’s most efficient red meat processor
- Enable the co-operative to pursue additional value capture opportunities
- Ensure Alliance remains 100 per cent farmer-owned
Tough for farmers to have to pony up for more investment when many will be making a cash loss for the year and prices/markets are poor.
Will be a problem as some farmers may choose to send their stock elsewhere - I understand Alliance's schedules are trailing behind others so if farmers go elsewhere, makes plants more inefficient, become more uncompetitive etc.
Will be an interesting watch......
Alliance capital raise
https://www.nzherald.co.nz/nz/allian...+30+April+2024