Forum Archive Index - December 2000

["G Stolwyk" <stolwyk@wave.co.nz>]

 

 

Heather,

 

Thanks for your comments!

 

I think that a dividend sweetener of say 2 cents would'nt go amiss. We' ll just have to wait!

 

At this stage, we are still waiting for further info. I read that they have extended the time between the NZ farmers signing contracts and actual delivery. Itseems that both parties are willing to extend their risk.

This type of trading is an Australasian first.

 

My entry of Nov 4 mentioned that I expected a higher profit ( forecast made in Jan.), coupled with a share price of 50-60 cents.

In hindsight, there was just to much to do in a relative short time.

I did not expect AFF to establish a joint venture in China, however, a lot of  spare machinery held in store here, was used there.

 

Their meat works has only been going for a few months and therefore considerable costs had to be dispensed up front.

 

Planning the correct location of the various sale offices, the appointment of staff, organizing the demand led world trade and the coordination involved, again meant costs up front!

 

It must have put a lot of strain on the CEO and management!

 

Finally, their web site: < www.affco.co.nz > is a brand new one; apart from the latest reports, it is quite informative.

 

Presumably, management is trying to increase margins on sales.

Meanwhile, we'll see how their Annual Report shapes up and some of us will attend the Annual Meeting on Feb. 21.

 

Gerry