ALF - Allied Farmers Limited

[Sideshow Bob]

A minor profit warning:

Allied farmers issues profit warning
12 June 2006

Allied Farmers has warned its forecast half-year results are likely to be $150,000 lower than the previous year.


The Hawera-based company said it now did not expect to meet its predicted full year profit. It was anticipating a profit of $2.15 million before tax, compared to $3.47m to June 30 last year.

Chairman John Loughlin said the lower profit reflected a more subdued real estate market and a "necessary but unscheduled restructuring" of its real estate division.

Allied Pine was also taking longer than expected to turn around although the lower New Zealand dollar was helping.

Other factors included increased provisioning for doubtful debts in the merchandise and pine businesses.

However, the company's livestock, wool and finance divisions had all performed well.

Allied Farmers also advised that its takeover offer for Prime Finance Limited has now been accepted by more than 98 per cent of Prime shareholders, and was now unconditional.

The addition of Prime is expected to add $1.2 million before tax to Allied's bottomline.

[sniper]

quote:Originally posted by BRICKS

THE takeover of PRIME FINACE is now UNCONDITIONAL and will proceed in MAY 2006 try and BUY some SHARES..

Allied Pine is a rotten log - taking longer than expected to turn around is just another way of saying that it should never have been bought in the first place. Increased loan provisioning at Prime is probably just the beginning of more severe write-downs.

Try now and sell some shares.

[winner69]

quote:Originally posted by sniper

quote:Originally posted by BRICKS

THE takeover of PRIME FINACE is now UNCONDITIONAL and will proceed in MAY 2006 try and BUY some SHARES..

Allied Pine is a rotten log - taking longer than expected to turn around is just another way of saying that it should never have been bought in the first place. Increased loan provisioning at Prime is probably just the beginning of more severe write-downs.

Try now and sell some shares.

You called this right from the beginning sniper .... see one of the statements about the future is a 'a stemming of the losses in Allied Pine .... sounds painful

[BRICKS]

quote:Originally posted by winner69

quote:Originally posted by sniper

quote:Originally posted by BRICKS

THE takeover of PRIME FINACE is now UNCONDITIONAL and will proceed in MAY 2006 try and BUY some SHARES..

Allied Pine is a rotten log - taking longer than expected to turn around is just another way of saying that it should never have been bought in the first place. Increased loan provisioning at Prime is probably just the beginning of more severe write-downs.

Try now and sell some shares.

You called this right from the beginning sniper .... see one of the statements about the future is a 'a stemming of the losses in Allied Pine .... sounds painful

Sniper was put in charge of this bug and he has not done his job nothing new for him.. But they are making money and stated improvement is on the way still try to BUY a HOLDING if you can.. [8D]

[BRICKS]

WELL AFL is chugging along at a lower price its down but not out, The saw mill has taken its toll with big losses but could have turned or out the door it goes along with the good finance company sub well we will all know 1st March 2007 for the Half Report.. [8D]

[BRICKS]

Allied Farmers unite make`s $2 million Profit, that`s what the headline SAID.. [8D]

[duncan macgregor]

quote:Originally posted by BRICKS

Allied Farmers unite make`s $2 million Profit, that`s what the headline SAID.. [8D]

They are a bit like PGW bricks wont stick to their knitting. Farms have a very low return on capital [about 3pc] The profit is in lifestyle plus capital gain. This makes for a very good family business, but very poor business risk for absentee farmers. The russians found that out with their collective farms, it simply wont work. When times are bad the spending slows right up, ALF and PGW then suffer a big drop in custom. In good times they spend up big, whoopee the sun shines on the sp.
We are having bad times right now, ask a farmer. ALF and PGW are getting into pie in the sky stuff in the bad times, this looks like egg in the face looming,instead of doing what they do best, and riding it out like their customers. I will be back to invest later if they dont get to stupid. macdunk

[BRICKS]

quote:Originally posted by duncan macgregor

quote:Originally posted by BRICKS

Allied Farmers unite make`s $2 million Profit, that`s what the headline SAID.. [8D]

They are a bit like PGW bricks wont stick to their knitting. Farms have a very low return on capital [about 3pc] The profit is in lifestyle plus capital gain. This makes for a very good family business, but very poor business risk for absentee farmers. The russians found that out with their collective farms, it simply wont work. When times are bad the spending slows right up, ALF and PGW then suffer a big drop in custom. In good times they spend up big, whoopee the sun shines on the sp.
We are having bad times right now, ask a farmer. ALF and PGW are getting into pie in the sky stuff in the bad times, this looks like egg in the face looming,instead of doing what they do best, and riding it out like their customers. I will be back to invest later if they dont get to stupid. macdunk

THANKS for NOTHING.. [8D]

[BRICKS]

LUCKY BRICKS jumped out @ over $2 when looking today only $1.40 and falling even with the late news that the sawmill has really gone but we now are into finance not the flavor of the month so what about the holders locked in its a big wait coming up but i feel the board needs a REVAMP..

[winner69]

taking over (or merging) with Handover .... whats next