----- Original Message -----
Sent: Friday, April 20, 2001 10:54
AM
Subject: [sharechat]
Pretty depressing news from Affco for
those who have had their expectations built up for a while.
...refreshingly, at least, they didn't
blame the Olympics - or a depressed building market - or a venture into
Australia.
Pity about the performance though,
because if there was ever going to be a fantastic year for Affco this year had
everything going for them to succeed.
Similar thread through a lot of the
recent disappointing performances by some companies, here and in
Australia, - unstable management that takes the eye of the ball and it
all ends in tears.
On the other hand strong and focussed
leadership implementing robust strategies doesn't often lead to
disappointments - especially when market conditions are not always favourable.
Confirms that more weight needs to be put
on who runs the company, what their strategy is, how strong their market
position is etc when assessing investment decisions. Good financial
performance usually follows in these cases.
Cheers
Peter
Disc - do not hold AFF. Did look at their
website a few weeks ago and had to send an e-mail off to them saying they had
better change the wording on the page that showed their share price graph. It
read 'the Affco share price has shown a strong and consistent rise ......'.
The wording did get changed in a few hours and they thanked me for reminding
them of their current performance.
See IRG research reports
