ALF - Allied Farmers Limited

[Vaygor1]

Full year unaudited results out this morning.

Net after tax profit just over $1M up 137% . This equates to a net profit of 1 cent/share.
Big one-off gain not included in the result as the relevant transaction (which entirely wipes out ALF's debt to the crown) occurred after 30-June-2014 balance date.
Equity still shows as -$3.8M (last year -$5.5M) but this does not include NZFL worth absolute min $10M which ALF owns 67% of (at the 30-June-2014 balance date). So true equity is minimum -$3.8 +(0.67*10) = $2.9M or about 2.8 cents / share. I would suggest after this result and adding other sales yard assets, equity is more like 4 to 5 cents/share.
Total worth of ex-Hanover toxic assets left to sell is under $100k - peanuts.

Yesterday's share price close 6.4 cents. So far today 7.4 cents. I think 10 cents within the next week or three and 20 cents by this time next year.

https://www.nzx.com/companies/ALF/announcements/254646

[Minerbarejet]

Full year unaudited results out this morning.

Net after tax profit just over $1M up 137% . This equates to a net profit of 1 cent/share.
Big one-off gain not included in the result as the relevant transaction (which entirely wipes out ALF's debt to the crown) occurred after 30-June-2014 balance date.
Equity still shows as -$3.8M (last year -$5.5M) but this does not include NZFL worth absolute min $10M which ALF owns 67% of (at the 30-June-2014 balance date). So true equity is minimum -$3.8 +(0.67*10) = $2.9M or about 2.8 cents / share. I would suggest after this result and adding other sales yard assets, equity is more like 4 to 5 cents/share.
Total worth of ex-Hanover toxic assets left to sell is under $100k - peanuts.

Yesterday's share price close 6.4 cents. So far today 7.4 cents. I think 10 cents within the next week or three and 20 cents by this time next year.

https://www.nzx.com/companies/ALF/announcements/254646

Its all go round here

[Vaygor1]

Its all go round here

Thanks MBJ.

Was beginning to think this thread had been secretly renamed the "ALF - Only Vaygor can post here" thread.

Share Price up 21.5% today. Should go up by at least the same amount once a few instos have digested today's news. At this rate it will get to your break-even mark of $21.34 in no time.

[Minerbarejet]

Thanks MBJ.

Was beginning to think this thread had been secretly renamed the "ALF - Only Vaygor can post here" thread.

Share Price up 21.5% today. Should go up by at least the same amount once a few instos have digested today's news. At this rate it will get to your break-even mark of $21.34 in no time.

Whew, that will be a relief. Maybe I should double my holding and bring it back to 11.00. So thats 550 ( which twice apon a time was 55000) x 8.0 cents ( ruffly) Hmmmm 44.00 + 30.00, dunno, bit pricey.

[couta1]

Whew, that will be a relief. Maybe I should double my holding and bring it back to 11.00. So thats 550 ( which twice apon a time was 55000) x 8.0 cents ( ruffly) Hmmmm 44.00 + 30.00, dunno, bit pricey.

Spare a thought for us Hanover aka Handover finance survivors who sold our Inherited shares around the 2c level,we all should have held but back in 2008 we all thought ALF was a right off and were advised to sell by our trustworthy brokers at the time.

[janner]

One of my forgotten " Buys ".. ( written off ).. In a moment of ... of, of, . Of what ??..

Looks like I could be back in the Black very soon :-)))

Not a biggie !!.. Just proof of taking a long term view :-)))

[Minerbarejet]

Spare a thought for us Hanover aka Handover finance survivors who sold our Inherited shares around the 2c level,we all should have held but back in 2008 we all thought ALF was a right off and were advised to sell by our trustworthy brokers at the time.

The Farmers Coop ( now ALF) has been around a lot longer than Hangover Finance. Says something for South Taranaki and its solid farming foundations. Something tells me it will survive if they stick to what they know. Spare a thought for the old original shareholders who through their purchases over many many years acquired shares in the company through rebates to have them all turned into confetti by a bunch of less than adequate city slickers most of whom seem to end up in court, or should do ,one way or the other, eventually. We are not of that ilk.

[Vaygor1]

Posted 13-Oct-2013:
….
I think ALF is out of the woods now and by-and-large I trust most of those on the board. Bluett's interests should ensure good governance.
Not sure how long before it turns a profit. Anyone want to take a stab?

Never got a definitive response to this question. If anyone then had answered 'About 8 months from now', they would have been right.

http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11317240
http://www.stuff.co.nz/business/farm...-back-in-black

So, the next question…. Not sure how long before ALF pays a dividend. Anyone want to take a stab?

[clip]

I'll take a stab.. 2 years

Thanks for keeping this thread updated Vaygor1 especially this post, very informative

Full year unaudited results out this morning.

Net after tax profit just over $1M up 137% . This equates to a net profit of 1 cent/share.
Big one-off gain not included in the result as the relevant transaction (which entirely wipes out ALF's debt to the crown) occurred after 30-June-2014 balance date.
Equity still shows as -$3.8M (last year -$5.5M) but this does not include NZFL worth absolute min $10M which ALF owns 67% of (at the 30-June-2014 balance date). So true equity is minimum -$3.8 +(0.67*10) = $2.9M or about 2.8 cents / share. I would suggest after this result and adding other sales yard assets, equity is more like 4 to 5 cents/share.
Total worth of ex-Hanover toxic assets left to sell is under $100k - peanuts.

Yesterday's share price close 6.4 cents. So far today 7.4 cents. I think 10 cents within the next week or three and 20 cents by this time next year.

https://www.nzx.com/companies/ALF/announcements/254646

[Vaygor1]

I'll take a stab.. 2 years

Thanks for keeping this thread updated Vaygor1 especially this post, very informative

Good on you for putting a stake in the ground clip.

I'm going to hazard a guess at 18 months.... if not sooner.