PGW - PGG Wrightson

[winner69]

Same statement (in bold) could have been made by RD1 ... And, as they're a co-op, they could have left out the remainder!

Same statement made by lots of companies. .....don't help customers make money don't have customers

Nice warm fuzzy stuff from John in the c-suite ....thought he could have come out with something better than that

But Percy loved it anyway

[winner69]

Jeez some 700 mill capital invested and they make 8 mill operating profit in half year.

Need to make at least 70 mill to cover cost of capital

Spouse trading at less than book value then .....low return the reason

[Agrarinvestor]

Sir John Anderson is a class act. Yes, Agria would have pitched hard for the dividend, but Sir John wouldn't have approved unless he knew the company could do it.

>>PGW announced an increased profit of NZ$4.8 million for the six months to 31 December 2012, up from NZ$3.1 million a year ago. PGW also reported strong cash flows from operating and investing activities, delivering a combined total of NZ$24.4 million (up from NZ$6.0 million last year). This result follows a strong profit for the full year to 30 June 2012 announced last August and has allowed the company to halve its net debt position over the course of the last 12 months<<

If they earned through investing activities 20 additional millions, why should they not pay a dividend ? This is normal. If a company is paying dividends it
could win new shareholders, for example pension funds. This dividend is not only in the interest of Agria.
For me as a shareholder of Agria the most important message is:
>>We are especially pleased with the performance of our New Zealand Seed, Retail, Wool and Irrigation & Pumping businesses -- all of which showed sizeable gains<<
Because the seed business is the reason why Agria purchased the majority stake in PGW.

[Xerof]

Sooo, if we take out ~25mill incoming cashflow from the one-off Crafer settlement, we have an underlying negative cashflow from normal business units.....

despite George saying there was a correction to the type of dividend declared, i.e. says Special, but he meant Interim, I don't believe him.....

unless it's corrected by announcement

[winner69]

Sooo, if we take out ~25mill incoming cashflow from the one-off Crafer settlement, we have an underlying negative cashflow from normal business units.....

despite George saying there was a correction to the type of dividend declared, i.e. says Special, but he meant Interim, I don't believe him.....

unless it's corrected by announcement

stop upsetting the disciples zerof .... they are a titchy lot at the moment ..... reds under the beds and all that sort of stuff ..... and george is a good bloke and wouldn't get confused

and stop scaremongering about the cash .... just negative is soooo good for 1st half ...... as you know a very seasonal business where all money made in H2

so all on track ..... a real turn around underway ..... john and george got things under control ..... the market just doesn't get it .... boy punters are stupid sometimes

[winner69]

the forms clearly say interim and the interim box is ticked (no tick against the special box) ---- so interim of $16m plus it is

[Xerof]

Sorry W69......interim accepted, I hadn't seen Appendix 7

oh, did I forget to mention 4mill of the profit was revaluation of the HNZ shareholding? Apologies if I missed that earlier

[noodles]

Wow, PGW have a dividend policy of paying 200% of profits. C'mon that sounds like a "special divi" to me.

[GR8DAY]

.......maybe this (special divi) will allow Agria to fund borrowings for a full takeover?? how much do they own already?

[ak1261]

According to 2012 annual report, Agria owns 379,068,619, which is 50.22%.