TUR - Turners & Growers

[Snow Leopard]

quote:Originally posted by Gryffyn

Why not just buy GPG?

Disc: GPG

You expect GPG to go sub$2 before TUR [:0]

[truedragon]

Hi TUR holders

Still hoding your nerve? How do you guys read the last annoucement regarding the apple market price been disastrous and consquent profit downgrade?

DISC: HOLD TUR

[winner69]

Used the term price destruction in the ann .... that might happen to the shareprice

So full year might be down only a bit this year so less than $10M but plenty of time for things either to improve or get worse ... chances are they will get worse

A PE of 15 gives a share price of about 200 ... a PE of ten about 130 ... maybe some where in between

Bloody apple growers throughout the world ... hope vegies and flowers keep the ship upright

[morv]

can assure you that nz internal and export fruit and vege have been a pricing bloodbath since dec 2004. they are also facing a new internal banana seller backed by sumitomo. case hire and transport divisions doing well due to excess production in nz, property arm doing well on revaluations but core basics of selling fruit and veg annus horribilis

[winner69]

quote:Originally posted by morv

can assure you that nz internal and export fruit and vege have been a pricing bloodbath since dec 2004. they are also facing a new internal banana seller backed by sumitomo. case hire and transport divisions doing well due to excess production in nz, property arm doing well on revaluations but core basics of selling fruit and veg annus horribilis

Good stuff morv

So there real reason for being is going through difficult times and the share is richly priced as well.

If some/lot of the profits coming from property revaluations it seems as if cash flows could be bit stretched

Thoughts

[Greyhound]

When the Aussies finally let our apples in,that will see good times return for orchardists.T&G will benefit enormously.

[rawdata]

Buy GPG, folks. They sold down TUA and TUR very well!

That's how money is made & lost.

[truedragon]

I think the depreciation of NZD in the future will be good for TUR and plus people should eat more fruit where N.Z has a healthy brand as environmental clean and etc. I think it's too early to say TUR is a sell. If fact I think if the price further deteriorate due to scare of competition, it may be good time to buy.

DISC: hold TUR

[Misc]

Hmmmm , this could get real ugly ! ENZA advances moneys to growers based on cartons packed and deducts those advances from sales proceeds..... now , if the sale proceeds are less than the advances (very likely it seems) then ENZA would have to chase growers for the outstanding balance ... this may be $1~$2 per carton , or even more so potentially huge bad debt coming.
Onions and other export veges are not any better this year I believe.

I understand ENZA exported about 8m cartons of apples this year.

Next year looks as bad if not worse based on escalating shipping costs , big fruit stock over-carries in key markets and our high FX rate.


Misc

[morv]

sell now buy back later
mite be a skip the divi year