New director appointed.
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Well he was good enough to represent Otago at cricket
http://www.espncricinfo.com/newzeala...yer/36853.html
I do rather prefer directors of companies I invest in to have commercial acumen,rather than sporting skills.
PS.The company quality assurance manager[Harold] received my phone call ,as the CEO and company secretary were not on the premises.Told him he was just the man to put quality assurance news releases right.I did ask whether Peter was just out of jail ,or just off the street, and they did not want to release his record.!!
Ex Otago cricket player is a bit more positive.
Falling dollar and Capex investments boost PharmaZen half-year result.
At last there is light at the end of what has been a very long dark tunnel.
Earthquakes,'Compliance issues',high NZ$ have worked really hard against PAZ over the past four years.
New factory,new equipment,new avenues of income,looks as though the $5mil spent was well thought out.
Modest profit is great when one compares PAZ with SEA.
All of this expansion has been paid for from retained earnings and bank debt,without PAZ having to come back to shareholders for more capital.Shows great discipline.
I am pleased I recently added to our holding.
Am "well positioned."
An interesting article in the age today
http://www.theage.com.au/business/vi...29-gjxqrv.html
PAZ could well be extremely well placed with its upgrades to plant finished or all but, returning a profit and benefiting from a fallen dollar.
Annual report out
http://www.unlisted.co.nz/uPublic/un...cement_id=2721
The benefits of the upgrades are showing very nicely.
PharmaZen Limited is reporting a surplus before tax of $896,635on turnover of $7,083,991. This compares with a before tax surplus of $28,553 on turnover of $6,709,270 for the prior year.
Positive cashflow.Balance sheet remains in good shape.
Still using retained earnings and debt to grow the business,yet total equity of $7,945,937 easily supports total assets of $13,875,944.
"Expanding post drying operations.1100sqm factory has been leased on an adjoining site."
Hopefully the extraction plant commissioning will be in 3rd quarter of 2016.It will provide significant growth opportunities,particularly in the marine and botanical sectors.
Well someone else really liked the result.
145,000 traded yesterday at 5 cents.
800,000 traded this morning at 5.5 cents.
And this afternoon 500,000 traded at 6 cents.
Just when I thought the result was being ignored.??!!!!.lol.