Forum Archive Index - January 2001

["Warner Lamb" <cloud9@i4free.co.nz>]

Happy New Year Chatters, Good to see some fresh debate on NUF. One point I
would like to make is in regards to the reversal of NUF against the uptrend
in Ag stocks...I would have thought NUF would have tracked the sucess of the
farming sector. Peter, I am awaiting your response to the point made by
Douglas about asset sales, those figures would certainly put a damper on
"real" earnings. The same thing happened to me recently with AFF until it
was pointed out that AFF's $15m result included a $4.5m write-back of
provisions from 2 years ago (they also have around $100m in tax losses)so
true earnings would peg it back to about $7m..a far cry from the $15m if you
didnt know the full story.

Warner


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