Silver Ferm Farms

**iceman** · 01-04-2023, 08:23 AM

Originally Posted by Sideshow Bob

Where is Iceman?? Might be on a bender already…..

Well yes, a bit of truth to that :-)
Sort of staggering that shares picked up 3 years ago at 70-78 cents have paid out 63.8 c gross in dividends and doubled in value over that period as well.The crazy thing is that this company is still very cheap trading on a PE of 1.55 with a gross dividend yield of 21.5%. A company that has no debt, is cashed up and very profitable.
Not much else to say. Mindblowing.

While this year will be more difficult than last 2 years at least from a market perspective, an ease in freighting troubles & prices will help offset that. The future is looking very bright for this company.

**percy** · 03-04-2023, 07:53 AM

https://sendy.tarawera.co.nz/l/J6oLV...ld17631lAEsOUA

**Sideshow Bob** · 03-04-2023, 08:29 AM

Originally Posted by iceman

Well yes, a bit of truth to that :-)
Sort of staggering that shares picked up 3 years ago at 70-78 cents have paid out 63.8 c gross in dividends and doubled in value over that period as well.The crazy thing is that this company is still very cheap trading on a PE of 1.55 with a gross dividend yield of 21.5%. A company that has no debt, is cashed up and very profitable.
Not much else to say. Mindblowing.

While this year will be more difficult than last 2 years at least from a market perspective, an ease in freighting troubles & prices will help offset that. The future is looking very bright for this company.

Pretty crazy numbers, eh. Has yet to trade post announcement with the USX being down.

Total equity for the Co-Op is now over $438m - and while can always argue about the book value of assets and old freezing works, I'd think the retained profit over the last 3-4 years would probably be bigger than the market cap of the company. For example this year $189m net, $77m in divvies - so $112m retained. Market Cap for the CoOp (50%) is circa $150m, so their share of the retention this year is $56m.

Last year especially the beef margins were eye-wateringly good. So have to expect a more normalised return this year, and will undoubtedly be tougher. I'm also a perennial cynic, not in capital expenditure, but getting bang-for-your-buck and getting a return on it. But some of that will just be infrastructure that can't get a return on.

Debt free, plenty of cash and seems to be travelling pretty well - especially compared to Alliance and Anzco (can't see other private company profitability but guarantee the Talleyban/Affco are spitting out mega profits).

Well done Rob, Simon and team.

**percy** · 03-04-2023, 09:03 AM

Sales at $1.50 and $1.52.Plenty of buyers at $1.50.
One seller with 50,000 at $1.55....

**Sideshow Bob** · 03-04-2023, 09:29 AM

Originally Posted by percy

Sales at $1.50 and $1.52.Plenty of buyers at $1.50.
One seller with 50,000 at $1.55....

Expect to be some action.....especially after a couple of days of not trading and when getting 13.1cps fully imputed in 25 days time!!

But surprised trades went through this morning at $1.50....!!

**Sideshow Bob** · 03-04-2023, 10:20 AM

$1.55 gobbled up.

$1.60 is the only offer currently.

**percy** · 03-04-2023, 12:08 PM

Originally Posted by Sideshow Bob

$1.55 gobbled up.

$1.60 is the only offer currently.

My buy order was filled at $1.5343

Just as well it is lovely and sunny here,as I had to dip into some of our rainy day funds..lol

**Sideshow Bob** · 03-04-2023, 01:43 PM

Originally Posted by percy

My buy order was filled at $1.5343

Just as well it is lovely and sunny here,as I had to dip into some of our rainy day funds..lol

Good on ya Percy!!

Trading at $1.60 now, only offer $1.70. Those few that slipped through at $1.42 last week were great buying.....as was the last few months when locked on $1.50!!

Hopefully plenty of suppliers, if they haven't already are getting their fill of shares. Add the divvy to the livestock patronage reward, and they would be extremely tasty buying!!

**percy** · 03-04-2023, 02:15 PM

Originally Posted by Sideshow Bob

Good on ya Percy!!

Trading at $1.60 now, only offer $1.70. Those few that slipped through at $1.42 last week were great buying.....as was the last few months when locked on $1.50!!

Hopefully plenty of suppliers, if they haven't already are getting their fill of shares. Add the divvy to the livestock patronage reward, and they would be extremely tasty buying!!

Those shares going through at $1.42 had me worried.
Was thinking the result would be poor...