AGL - Accordant Group. was previously AWF Madison, Allied...

[minimoke]

Hull dodged a major bullet here , or has he? I cannot understand why he was not 'in the dock' alongside his fellow Directors at CLS. Pressure should be bought to bear and Justice done imo. The jailed 3 would gladly supply evidence I would have thought?

Hull dodged the bullet on the day he was due to give evidence but these three pleaded guilty instead. It is incomprehensible that he did not know of these gruby deals. Greg Webster probably knew to but he is obviously unable to tell now - though I doubt he would have wanted to get his hands dirty on that one. Or alternatively their due diligence of CLS was so shonky that it was best not to ask questions that they didn't want answered. And in the meantime SP has been improving on low volume when the business is trending down. The buy back action may be worth keeping an eye on.

[Misc]

He must still be kakkin himself MM. I understand he was in Court yesterday looking on but bolted just before the court was adjourned , perhaps to avoid an angry mob scene?. You would have to wonder why he was there at all..
M

[Lizard]

AWF have announced a couple of good acquisitions of late - one in provision of staff to mining sector and today's being provision of staff in healthcare/aged care.

AWF came to my attention last week when I was looking for stocks with good ROE/yield and relative strength rating on the NZX. Was the best of the bunch and tossing up whether to try and add some to the portfolio, but may have missed the boat - am disappointed I didn't buy last week as was eyeing it up for a few days at 98c-$1.00ps but waiting for a quiet day with a clear head to make decisions. My main doubt was where they would find enough market for growth, but seems they have it covered.

Sellers in short supply, so may have to wait.

[minimoke]

AWF have announced a couple of good acquisitions of late - one in provision of staff to mining sector and today's being provision of staff in healthcare/aged care.
.

The mining sector acquisition is just for the supply of a few people into the Corromandel - not a huge leap there. As for the healthcare /aged care - its a pretty sad day for the oldies. Share price driven more by manipulation than market demand. Their share buy back may be driving price as much as anything.

Having said that, coming out of a recession should be good for them and the aged / community care is a market just ripe for AWF's labour hire model.

[percy]

I brought some for the wife today at $1.02.The healthcare/age care should be a good fit for them.I did hold them mysel,f but had to sell for some reason,so pleased to be back in this good small cap company.

[Lizard]

A very strong half year result reported today for AWF, albeit in comparison to a particularly weak 1H10.

Sales up 28%, NPAT up 204% and dividend increased from 1.5cps to 3.8cps.

Cash on hand of $5.7m (no debt) or about 21cps.

Presuming similar second half to 2H10 of $1.5-$1.6m NPAT (forecast suggests it could be stronger), the current $1.15 bid represents a forward PE of 9.10, rolling 12 month historic EV/EBIT of 5.2, and yield of 7.2% plus franking.

Like percy, I picked up a few at $1.02 in anticipation of a good result - but this exceeds my expectations and I currently value at $1.35 with probability to the upside at FY.

[percy]

A very strong half year result reported today for AWF, albeit in comparison to a particularly weak 1H10.

Sales up 28%, NPAT up 204% and dividend increased from 1.5cps to 3.8cps.

Cash on hand of $5.7m (no debt) or about 21cps.

Presuming similar second half to 2H10 of $1.5-$1.6m NPAT (forecast suggests it could be stronger), the current $1.15 bid represents a forward PE of 9.10, rolling 12 month historic EV/EBIT of 5.2, and yield of 7.2% plus franking.

Like percy, I picked up a few at $1.02 in anticipation of a good result - but this exceeds my expectations and I currently value at $1.35 with probability to the upside at FY.

Yes I too was surprised that the result was so good.The increase in divie is also very positive.Brought some for myself at $1.05.

[minimoke]

Looks like a fair bit of teflon has been applied to AWF. Good looking results despite be allied to abuse of immigrant workers, brassing off key clients, employment court costs, death of second largest shareholder and using the AWF model of busing workers to your grannies rest home. The market seem to like what they have on offer

[percy]

Looks like a fair bit of teflon has been applied to AWF. Good looking results despite be allied to abuse of immigrant workers, brassing off key clients, employment court costs, death of second largest shareholder and using the AWF model of busing workers to your grannies rest home. The market seem to like what they have on offer

Yes the market did like the result.!!!!!!!??????

[zigzag]

According to the latest annual report, James Urquhart owned over one million shares. What will happen to them. Is this an overhang, or an opportunity for someone with deeper pockets than me.