Ann: FY2020 Half Year Results Media Release, page-14

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Markethunter

53 Posts.

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02/03/20

09:17

Post #: 43248636
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Originally posted by Sammieboy: ↑

Highly predictable.
More contempt for shareholders ex Sexton and Board.
Same Board, different management (might have a clue on what to do??). but more spin. Fundmentals suggest BFC has a very hard road to profits and shareholder wealth (yes Roger you got your shares for zip).
Company has loss approx $130M of shareholders funds since IPO. Kunteng entered at 45c - where are they now?? Why don't they stand up or are they restricted?? Where is Dashang? Sexton keeps firing bullets at them but they stay silent.
Doubt Company will see profits in H2 2019/20 due to rising Dairy costs and global supply (big Mozz stocks ex Europe coming) - price point must be at or near BFC Factory cost. Mozz is a globally traded commodity - WOW will play the game to screw BFC on price.
H1 result summary shows no indication on margins or forward market. La Prina (USA) imports 50000 tonnes Mozz into Aus per year through agents.
130m litres of Milk use in 2020 - can they get it, price paid and if used in Mozz what is the size of the net profit??

Notice Moelis has been appointed - 4 years too late?? Mates ot the board?? Possibly good move but with BFC fundamentals (dairy = losses, meat = losses), Moelis can do little - strip costs (reduce losses), look to sell (who would buy - parts or all??) or strategise (what the Board has been doing for past 4 years??).

Farm sale and leaseback - releases ANZ and complicates BFC management. BFC still owns Cows, Mobile equipment and is responsible for fertiliser regime, pasture management, weed control, irrigation, etc....... BFC management to date hasn't run BFC very well, why will farm management be different??

Time for shareholders to unite and get rid of Sexton/Board, get a new BFC Plan and execute quickly. If not now then BFC may struggle to see another 12 months.

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Spot on about Mozz being a commodity and highly competitive.
Unfortunately due to it being an instant production conversion it seems that this is their only hope?
There has been no other market segments developed over the last five years, segments that would offer more return.
As per fyh results indicate there seems to be no rainbow here!

BFC Price at posting: 7.3¢ Sentiment: None Disclosure: Held
2 Upvote

0 Great analysis

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