PGW - PGG Wrightson

[kiora]

What a shocker result.No mention of compensation for swedes either.Go figure.
Why would a client stick with them???
https://www.radionz.co.nz/news/count...n-compensation

[Snow Leopard]

Well, I am impressed and can not wait to find out how they have managed to reduce "the top end of $65M to $70M Operating EBITDA" down to a mere "approximately $20M NPAT".

But then again, it is PGW and the NPAT is always the least consistent thing about their annual results.

[winner69]

This could be an awesome nteresting breakfast seminar

PGG Wrightson one of stars ...talking about innovation

https://www.blincinnovation.com/upco...ries-breakfast

[percy]

Interesting noting the sale of the seeds business comes to $439mil [including debt] while the market cap for PGW is just over $483mil.

[Balance]

Interesting noting the sale of the seeds business comes to $439mil [including debt] while the market cap for PGW is just over $483mil.

Sum of the parts, W69.

Cannot say that the company has been keeping shareholders and the market in the dark about its worth?

38c pwr share distribution of capital in the offing.

[winner69]

Sum of the parts, W69.

Cannot say that the company has been keeping shareholders and the market in the dark about its worth?

38c pwr share distribution of capital in the offing.

Yep Balance, sum of the parts always more than the whole for uninspiring companies like PGW with several businesses

Alan looking forward to his distribution

[Balance]

Yep Balance, sum of the parts always more than the whole for uninspiring companies like PGW with several businesses

Alan looking forward to his distribution

Says to me that FBU is undervalued too.

Or is that a bridge too far?

[winner69]

Says to me that FBU is undervalued too.

Or is that a bridge too far?

Didn’t want to bring them up just now to rain on PGWs parade. ...but there are several greater fools out there

With this seeds deal ..I reckon the Danes got a good deal.

[Zeitgeist]

2017 NPAT from Seed & Grain was $27.2m on assets of $388.6m (though the announcement says net assets at 30.6.2018 of $285m).

The strategic review will be interesting to read! Seems like the majority of the business has just been sold.

Is it worth buying now to participate in the (forecasted) capital distribution?

[Snoopy]

XT saw PGW Agritech as rivalling Monsanto and Syngenta as a global arable force in twenty years. Even though those two are more oriented toward seeds and crops. I didn't realise that PGW Agritech was the largest supplier of seeds in the Southern Hemisphere - the largest in the world if considering just forage and grass. Unfortunately NZ investors have much shorter timeframes. I don't think PGW will go very far in the next 12 months. But after that, as the debt straightjacket is loosens, we could see the share price move in about a year. Sadly it seems one year is far too long a timeframe in the New Zealand context.

I wrote the above in 2010.

With this seeds deal ..I reckon the Danes got a good deal.

You are so right Winner. Decades of IP have been lost at the stroke of a pen, and all for a measly $439m. The sell off of seeds was mooted before Mark Dewdney came on board. Mark stopped it. Now Mark is gone 'One PGW' has become 'Two PGW', soon to be 'One much smaller PGW' that will probably be sold off to Elders. And that will end any listed presence on the NZX in this sector. The PGW 'strategiic review' has destroyed the company by selling off the family silver.

Alan Lai has finally got his way...... (not that Alan had much choice as he is in his own debt burdened straight jacket)

Shame on the NZ shareholders if they accept the break up recommendation!

SNOOPY

discl: shareholder