Puss,
AAC don't need to raise capital - they sold off property at the start of the year for book value - not a bad effort considering everything at the time was being smashed.
That left them with gearing of around 28%.
Their issue is that the high dollar is hurting cattle prices. Not sure if they have hedged some of their forward sales.
Other than that there may be an overhang of stock of when futuris sold out of them in the middle of the year.
Property in northern australia is fairly safe low risk asset but don't expect too many fireworks.
what is going on?, page-2
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Last
$1.36 |
Change
-0.025(1.81%) |
Mkt cap ! $816.7M | |||
| Open | High | Low | Value | Volume |
| $1.38 | $1.40 | $1.36 | $294.5K | 213.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 5899 | $1.36 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.40 | 25114 | 3 |
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| Last trade - 16.10pm 29/07/2024 (20 minute delay) ? |
| AAC (ASX) Chart |