Yes, pacole, I agree with your comments. I topped up at 1.10...

Yes, pacole, I agree with your comments. I topped up at 1.10 just a few days ago. I see it as a useful diversifier - food manufacturer, domestic icon, resistant to economic fluctuations.

Management appears capable - this is not a business for management high-flyers, steady incremental improvements does it.

For divvy-hunters, the suspended dividend in the middle of their crisis was fully made up in the last payment. A dividend yield of 5.2% (ff = 6.75%) P/E of 10.3 and 1.15 x book value, this is solid buying.

There was nothing theoretically wrong with their diversifying into frozen fruit. Their error was being seduced into sourcing and packing offshore to meet the supermarkets' demand for exotica and volume, putting their brand at risk.

If they had packed local Gippsland fruit to build up a quality supply chain - the work of decades to foster farmers, processing efficiency and pristine reputation - none of the pain would have happened. I would support re-starting the frozen fruit business on these principles. They could certainly do frozen vegies, stepped out from their own supply.

Hmmm. I have convinced myself. I should buy some more.

GLTA