the massive profit cash cow that is the old graincorp business shows through.
you are not allowed to say bad things about directors on hotcopper, so i content myself with commentating on facts.
the fact is that australia has choked ports. graincorp owns port capacity. the historic graincorp directors ran the only australian company in danger of losing money running ports. finally they are trying to make money from ports,and success. only a decade late.
fact,in an act that was breathtaking,graincorp paid 757 million to private equity for the malting business. this business could not be floated off,only people like old graincorp would buy it. the margins that graincorp report as a public company are half the margins they used in the forcasts when raising the money to pay for malt.
graincorps massively profitable basic operation has to pay for mistakes like this...again. imagine what the shareprice would be without carrying the malt burden. 10 dollars better than what it is would be a good guess.
GNC Price at posting:
$7.35 Sentiment: None Disclosure: Held
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