Forum Archive Index - March 2000

[frank fernandez <frank.fernandez@xtra.co.nz>]

Hi all,

As indicated in my previous posting, another stock that I have been
monitoring over the last couple of weeks is that "once faithful"
Brierley which has come in for some rather interesting, quiet but
seemingly knowledgeable support over the past three days - and hence why
I decided to do a little bit more research into this stock. 

The reasons for the renewed interest in BRY could be the release of its
half-year (to 31 December 1999) results tomorrow. Investors will
obviously be looking for a similar, if not improved, results as in its
last released results (for the full year to 30 June 1999) when BRY
posted an after-tax profit of $113.5 compared to a loss of $904.2
million for the previous year. 

Restructuring has obviously paid dividends for the company - putting it
in a much profitable and sound financial position. In particular, the
move of Head Office to Singapore, and the Bermuda company incorporation
registration, is expected to bring further financial and tax benefits
for the full 2000 year.

BRY will also be pleased that some of the companies on its portfolio
have had good financial results and these include:

-  The Thistle Hotels Group (46% owned) which reported a full year net
profit of £61.7 million, up significantly on last year's £30.5 million.

-  Cedenco (49% owned) with after-tax earnings of $2.21 million (+60%)
for the year to 30/9/99.

-  Tasman Agriculture (66% owned) with after-tax profits of $2.76
million (+29%) for the half-year ended 30/11/99.

Investors may also be getting updates on:

-  The sale of BRY's 50% stakeholding in Sealord which will
substantially add to the company's balance sheet and help fund its 47%
share of Air New Zealand's buyout of Ansett Holdings.
 
-  BIL Carmerlin's  (70% owned) intended foray into tech investment.

If the last BRY's share price surge (albeit brief) is anything to go by
(caused by a few lines in the NZ Herald about a possible investment in
e-commerce), a good half-year result (reinforced by positive news about
BRY's future plans) will probably see this stock rapidly move for some
quick capital gain - especially at its current price.

All in all, an interesting investing day tomorrow - especially with the
AIA half-year results also due (and the Auckland City Council meeting to
discuss the sale of its 25.75% stakeholding in AIA) and of course, and
how can we forget, THAT shareholders meeting tomorrow (but we'll leave
that for another night).

Happy returns tomorrow.

Frank

----------------------------------------------------------------------------
http://www.sharechat.co.nz/          New Zealand's home for market investors
To remove yourself from this list, please us the form at
http://www.sharechat.co.nz/forum.html.