PGW - PGG Wrightson

[Beagle]

Thanks for those kind words folks. I always maintain there is benefit to all from a good open and vigorous debate. It would be pretty boring if all we did on here was pump each others tyres on the stocks we own wouldn't it !!

[see weed]

43c, how looooow can you gooow. Good buying now It has dropped 4c (years dividend) in 2 weeks.

[Beagle]

43c, how looooow can you gooow. Good buying now

I agree, trading cum a 2 cent fully imputed dividend. Company has made a couple of good acquisitions on very attractive multiples using good common sense earn out provisions. Must be good buying for long term investment through the business cycle at this level but as always, keep your seatbelt firmly fastened.

[Joshuatree]

Its tricky atm, chart looks terrible dropping price on increasing vol below MA

[sb9]

Its tricky atm, chart looks terrible dropping price on increasing vol below MA

Yeah my thoughts too jt, hence the reason I sold out y'day. Not trying to downramp here but we might see sp in low or below 40c in the medium term.

[Crackity]

Yeah my thoughts too jt, hence the reason I sold out y'day. Not trying to downramp here but we might see sp in low or below 40c in the medium term.

Below 40 cents I am very interested - keeping a close eye on this one!

actually fairly tempted above 40c too!

[winner69]

Didn't the shareprice fall to 40 cents after the full year last year as well

Soon afterwards it was all back to normal

[Beagle]

Yeah my thoughts too jt, hence the reason I sold out y'day. Not trying to downramp here but we might see sp in low or below 40c in the medium term.

That would be HAMMER time

[Snoopy]

First half result a little better than I expected. But took the opportunity to unload a few more shares late last week at 52c cum-dividend. I still have 3/4 of my highest previous high holding left. So not deserting the ship. Average holding price now 42cps. So even with the sales I am still behind a lot of you!

Just rebalancing because I think the earnings and dividend may shrink in FY2016 and FY2017. The farming cycle doesn't stay at the top forever. I think there are plenty of signs (milk price, drought) that things are going to get worse from here.

I know that every cloud has a silver lining. Some see the drought as fuel for a big increase in irrigation sales. I can tell you this won't happen, because there won't be enough farmers with cash in the bank to do it. No cash. no collateral => no loan.

Mark Dewdney doing a fantastic job, but I keep remembering the old Buffettism.

"When great management takes over an average business, it is usually the business that leaves with its reputation intact."

Have to side with Master98 on this one I'm afraid!

SNOOPY

discl PGW shareholder who has been through the cycles before

Having owned a beagle hound for 12 years they are eternally optimistic and have a veracious and opportunistic approach towards food consumption. Never trust a hound that isn't optimistic !!

This is a lesson I leaned at cost from the resident snoopy beagle hound who was extremely conservative about HNZ's prospects back when they were 95 cents...hmmm the canine missed out on a huge feed there...one ponders how his ability to sniff out a feed was so far off the mark...

I think management are doing a good job and if they can make their current forecast in the current extremely challenging climatic conditions this augers very well indeed for 2016 and beyond.

I note broker consensus is for 2015 and 2016 EPS of 5.0 cps.

That post I made in March still looking sound, and prophetic given what has happened to the PGW share price since. Also the HNZ performance hasn't been exactly stellar since Roger mounted his response defence. I think even Roger from being HNZs second greatest promotor has subsequently joined the HNZ dark side. And my PGW reduction was all done right at the peak without having to trip out on one of Winners chart lines too! So it looks like this ol' beagle snout has still got a few good sniffs in it after all....

SNOOPY

[Beagle]

Yes the snout is still working mate. Did I ever tell you the story about how my late beagle Kelly could smell me open a packet of chocolate biscuits in my bedroom from the other end of the house...down the hall, through two sets of closed doors ? Or the time she opened my suitcase with her teeth pulling on the zipper after a business trip and rooted through my clothes to find the packet of chocolates at the bottom I'd brought home for my wife and scoffed the lot ?
You've got your work cut out keeping up with Kelly's legend so keep up the good work mate. I'm not too worried about the current drop, sound business, well managed and is doing well in challenging times...just imagine how they'll perform when times are better...think Crofts Dog Show