Yikes .... who were the 'lucky' guys that bought GPG's shares at $2.75 a few months ago ?
Might be a few 'interesting' questions put to the GPG Directors at the AGM !
With world apple markets in complete meltdown , and no obvious end to the pain in sight for along time (ever?), who would be the logical (or any) buyer for most of TNG's assets ?
The Chinese have massacred international produce markets ... and they aint finished yet!
The only 'glimmer' of hope for the NZ apple industry is the possibility of getting access to Aust and Japan in the next few years.
"usual way, tangible assets - liabilites divided by number of shares, info from the 2004 FY"
Brilliant , Tiger.
Try spreading the bloated overhead over 5.5m cartons of apples (vs 7.5m 2004) and average commission of 50c per carton (vs $1 2004), and add on clawbacks (read bad debts) of perhaps $10m , and any new 'grower assistance' (read more bad debts coming)...... then revalue the apple assets at 30% less than last year and finally writeoff at least $2m committed to the planned new packhouse in HB.
Do you still get $2.63?
Oh , forgot , I expect ENZA Foods is currently unprofitable also , thats likely the reason for not spinning it off (again China killing that biz).
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This stock shines so bright that it \"Bling Blings\"
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