PGW - PGG Wrightson

[asc4]

ANN: PGG Wrightson Finance has secured a BB (stable) rating from international credit rating agency Standard & Poors, confirming its place amongst the top tier of finance companies in New Zealand.

“Despite the challenging economic environment in New Zealand, PWF has achieved good profitability in the past three years, reflecting strength of the PGG Wrightson’s brand, expertise in the rural lending segment, and the company’s asset quality.”

Some good news for the PWF arm of PGW today.

[beacon]

They had it before too, "Reconfirmed" presented as "secured". PGC has BB+

[Balance]

Agree with everything except the good management part (excluding recent appointment obviously as time will tell). My nervousness is extended by HBY reporting on the same day. Both are on the comeback trail but both are showing price weekness (on lowish volumes) before the result. All in all - for the 26th will be either very pleasant or very dissappointing - but hey thats life being a fundy investor.

Market is nervous - even FBU got hit before a great result.

Likewise, OIC.

[flyingfox]

Market is nervous - even FBU got hit before a great result.

Likewise, OIC.

at least their financial position will looks much better,and could performance worse than last year?even last year that was becasuse of the one-off SFF failure

The problem is the whole market is lack of confidence now, many people are still waiting and watching,or prefer to put money in the bank

[Dr_Who]

Oh dear. Did the Chinese pay too much for PGW?

[percy]

Who knows? maybe DrWho knows!?,

[root]

Will find out tomorrow!

[Dr_Who]

Not a good sign when the sp is so weak just prior to the profit announcement.

[Balance]

Not a good sign when the sp is so weak just prior to the profit announcement.

It has been a funny reporting season. FBU and OIC were both weak before they reported. They both shot up after they reported better than expected results.

[root]

Nice to see a bottom line without any brackets around it.