Futuris has far more potentially profitable ventures to persue in the immediate future that may require capital - not the least of which is the rapid consolidation in the MIS Forestry sector that it has triggered via its 51% holding in the recently listed ITF. Mop up of APL, merger Neville Smith Group, then there is the 19.9% of Forest Enterprises (which is a safe bet isn't going to stay 19.9%) and FEA itself is of course in the process of scoping a merger with the Geelong based Midway timber group.
Phew, pretty typical FCL corporate activity.
Then there are the Banking activities via Bendigo, the rural activities via Elders and Australian Agriculture.....plenty to be going on with. Seems to me reducing exposure to the automotive industry when its booming is a very smart move. Picking tops and bottoms seems to be an FCL talent.
Cheers,
FCL Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
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