The uptrend on wri has me baffled. I am surrounded by farmers who paint a pretty dismal picture of the situation at the moment. Everytime I pass the wrightson store, I notice It Is completely devoid of customers. Vegegro however which Is a williams and kettle company always seem busy. I fully expect a profit warning from wri so mick still might get wrI at 90cents. The yield will come down In line with earnings. The exchange rate Is not going to Improve In the short term, so the farmers will have to hold out which means wrI customer base Is shattered. WRI have done a few stupid things of late, which puts me off Investing In them In the future. First up snouts In the trough, when I see that I am Inclined to think wrong people at the top. The second thing Is, spending Investors money on research which will be money down the drain. I much prefer companies to stick to the knitting with my Investments. Wrightson was a very silly company at one stage came good, and now appears to have lost there way again. When farming comes good In the future there Is a couple of companies In that sector that appeal.
I know snoopy wont agree so for his sake I hope that I am wrong but I don't think so
DiscL sold wri in sept and am a customer of wri and williams kettle.
cheers macdunk |
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