Fair value of derivatives and physical inventory 1,218.5 144.4 Net effect of a 20% appreciation in price on post-tax profit or loss 13.2 4.1 Net effect of a 20% depreciation in price on post-tax profit or loss (13.2) (4.1)
table on page 20 recent half yearly is reassurring -so no it would seem not- but does it cover currency and basis risks??
last year it seems they made $63m on exchange differences?
this year it seems they made $120m odd on financial derivatives and currency gains-they took the crop insurance cost off that division to make the profit seem less it seems
p 18 and 19 interesting reading and a bit confusing at first look -but as of Mar this year $140m assets in financial derivatives,and $60 m liabilities -so $80m in profit- but it seems also they currently hold $1billion to $1.3 billion of inventory (think they borrowed a$1b but value is 1.3) which is mainly grain stocks, so that level of derivative profit against that is not alarming and would be prudent for them to have cover
Was hoping that there may have been more detail about physical trading result versus the financial markets, but it seem there is not ....and cant be directly compared due to timing differences
GNC Price at posting:
$5.26 Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)