from the 6 month to june 2011 profit forcast figures my valuation (made one day prior) is now in tatters. But at first glance this announcement appears to me to have a number of very questionable figures. Management are currently unavailable to answer the many questions I have which are 1.Water Value of water entitlements value @ $1,000 / ml. = $38 m. Forcast profit from water for just 6 months is $5.8m. = $5.8m. = 15% Sounds unbelievalble ? For the whole of the 2010 fy. (not 6 months) profit was $2.5 ebit. ????????? How can there be such a large disparity especially when management has said that prices received from water sales is currently down???? Maybe ?the water trading profit is being artificially increased by the management? as stated by Sammyjh
2.water what are the percentages ?s of the above are capital appreciation v sales. The percentage of water sales during the year for the various crops , and at during which periods of the year.
3.cropping - how much is usually made out of wheat sales during a good year . does this use water irrigation ?
It would be good to get some favourable answers to these questions, but for the moment I am still on the sidelines.
GK.
TAN Price at posting:
42.5¢ Sentiment: None Disclosure: Not Held
