Forum Archive Index - January 2000

["nick" <acummin@es.co.nz>]

       Im very bullish about fernz. Next monday they list on
the australian exchange and change their name to nufarm.
      Less than a year ago fernz shares were around 6.00
now they are 4.30. What has changed?
1)             The fundamentals are as good now if not better.
  EBITDA growth has been averaging over 16% annually and
is set to continue.
       The acquisitions made over the last few years have begun to pay
returns,
and the human health division is beggining to grow.  They are now a world
wide
company with only 10% of buisness in NZ
2)     When they left the NZ top 10 much fund money went too, this is
largely what has caused the price to drop. However next week they go to
oz and are sure to be very popular amoung aussie fund managers which should
see big interest in their shares at what is a real bargain price.
3) They are well positioned to take advantage of any changes in
biotechnology
  and are now far less reliant on fertilisers than they were.

       disclosure i own fernz shares and topped up my holding today

 nick



> Like your list except for ferz. My understanding is that if its head
> honcho had done what he did with Fletcher shares in the States, he'd be
> in jail. ciao
>
>



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