Happy with the results, can understand why there's no increase in divvy under current economic environment. Happy to keep collecting dividends along the way.
Chairman says 'exceptional results' so they must be
But what the heck is '▪ Achieved CPI normalised EBIT growth of 29%' when according to the accounts EBIT increased by 7.5%
Maybe they might explain when/if they put up a presentation
I asked them what this meant and credit to them I got a detailed explanation.
They adjust EBIT for non operating gains/losses and impairment/fair value gains/losses - that shows EBIT increasing from $28.7m in F21 to $391m in F22 - an increase of 36.1% and then they deduct CPI of 7.3% to get the 29%
Adjusting profits for CPI quite meaningful .....if other companies did it it might embarrass some
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
I asked them what this meant and credit to them I got a detailed explanation.
They adjust EBIT for non operating gains/losses and impairment/fair value gains/losses - that shows EBIT increasing from $28.7m in F21 to $391m in F22 - an increase of 36.1% and then they deduct CPI of 7.3% to get the 29%
Adjusting profits for CPI quite meaningful .....if other companies did it it might embarrass some
No wonder someone sees fair bit of value here and are in accumulation mode.
Hey Snoops - the Pension/Superannuation schemes seem to be in fairly healthy state these days. Contributions not as burdensome as a few years ago
Really cool the oldies and in some cases their spouses still get a monthly payment - even though some may have retired years ago - and some probably worked for parts of the businesses PGW have hocked off. Wonder if there's a few old dudes from Wrightson Bloodstock still alive and kicking and getting the pension
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
Hey Snoops - the Pension/Superannuation schemes seem to be in fairly healthy state these days. Contributions not as burdensome as a few years ago
Really cool the oldies and in some cases their spouses still get a monthly payment - even though some may have retired years ago - and some probably worked for parts of the businesses PGW have hocked off. Wonder if there's a few old dudes from Wrightson Bloodstock still alive and kicking and getting the pension
My Annual Report hasn't arrived yet Winner. My 'postie with the pack horse' is probably waiting for the river to go down. It is one report it 'doesn't seem right' to look up electronically. Last time I looked it was the 'discount rate' going up that saved the pension scheme balance. So with the rise in interest rates over the financial year, I imagine the pension scheme is looking sweet.
I imagine some of those thoroughbred horses bred through 'Wrightson Bloodstock', although long retired, may be still living out their post racing years on the farm too. The price of good horse feed over winter is not cheap. So that pension comes in handy for those cherished four legged scheme members as well.
We have to factor in all of those PGW Seeds staff who were let go to the Danes too. I mean, it is fun, but you can't really live on Lego. There are aging guys and gals, not at all seedy, who will no doubt be retiring with a significant nest egg that must be managed. On top of that you have the genetically hybridised trees that have bought that seeds division so much wealth over the years. They deserve a decent retirement too. Some of those retired genotype Rimus re-engineered for shelter belt breaks could live for hundreds of years. Go down to your local PGW and get a quote for 500 years worth of supplementary compost. You may be surprised by how fast those native tree feed bills add up.
So it is just as well that if what you say about PGW finally getting their pension scheme sorted is true. Cheers for the next few hundred years!
SNOOPY
Last edited by Snoopy; 04-09-2022 at 07:44 PM.
Watch out for the most persistent and dangerous version of Covid-19: B.S.24/7
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