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ABB - AUSSIE BROADBAND LIMITED


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QUOTE (john constantine @ Thursday 26/05/05 11:00pm)

I can't seem to find any figures for their malting business in the latest annual report as it hasn't incorporated their malting business yet. Can you give some indications on what it is? I thought their malting operations only contributed a neglible amount of profits (<10m?) relative to ABB's market cap, since Ausbulk and United Growers were also predominantly grain handler / traders - although I haven't analysed ABB in depth so could be wrong.

 

But, yeah, I think their malting business is one of many strong points ABB has got going for it. And it looks like ABB plans to earnestly up its malting capacity, a definite plus.

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Okay just found some figures. It appears ABB's malting business turned a profit of $165k on revenues of about $2.5m, while Ausbulk and United's malting segment together produced a profit of $12.2m on revenues of about $183m, in 2003. Indicative malting profits are still kinda small for ABB's current market cap of $830m - but it should probably see some solid growth ahead.
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growth opportunities for the new abb are along the lines of extending its barley trading competencies into trading other grains------bulk and containerisation----expansion into new zealand.------------the malting division is tipped to expand to half a million tonnes capacity,aggressively into west australia. it has a 'capital heavy' core business in storage [the replacement value of this division is huge,the break up value of it imho exceeds the market cap of the whole.] abb moving into 'intellectual capital' with it's financing,underwriting,pool management arm. still consolidating niche operators in agribusiness----tlc,jossco,prograin,fertilisers. the core remains first storage then marketing,then malting,but there are now growth paths as well.
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  • 2 weeks later...

ABB almost getting to $8.00 today. Would have been a great trade over the past couple of weeks. Will be interesting to see if it heads south again or consolidates at these levels.

 

Could head further North if the AWB Wheat Deals play into its hands. I know there's alot of Aussie Wheat out there looking for a home. Most growers aren't concerned who they sell through.

 

Unsure of next move as sitting on good profits.

 

Today regraded:

 

ABB - Credit Suisse rates the stock as Neutral View Archive

 

--------------------------------------------------------------------------------

Latest company guidance has led the analysts to lift their FY06 profit forecasts by 24.7%, FY07 by 11% and FY08 by 9.7%.

They feel the company is ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“among the best placedÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚ to fill a large role in the wheat export business as it is already a major supplier of barley to the same markets and often the same buyers that are supplied by AWB.

 

Target rises 75c to $8.00.

 

Target price is $8.00.Current Price is $7.50. Difference: $0.50 - (brackets indicate current price is over target). If ABB meets the Credit Suisse target it will return approximately 6% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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  • 1 year later...

"Guru has a nibble at the Grain"

 

Just noticed this short article in today's Australian Financial Review (page 42).

 

Talks of (a Warren Buffett - like investor) Martin J. Whitman and his investment team (Third Avenue Management) taking a stake in ABB.

 

5% in December and now up to 6%.

 

As it finishes of wih mentioning AWB wobbling and the sector ripe for consolidation -there 'could be some action afoot!'

 

 

DYOR

 

(Just posted in 'Ag Stocks listed on ASX' thread, so thought I'd also move it to the actual share code!)

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  • 2 weeks later...

Last week saw a good run up until Friday, with some of the air being let out of the tyres! http://www.sharescene.com/html/emoticons/weirdsmiley.gif

 

Third Avenue Funds Management have increased holdings as per announcement today - do some research and you will see ABB is their only Aust. holding.

 

US Value Manager seeking underpriced quality business';

 

Third Avenue Funds home

 

Ag. stocks - worth doing some research! http://www.sharescene.com/html/emoticons/wink.gif

 

DYOR & KYOIS. - I hold.

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In reply to: krk004 on Monday 10/12/07 11:45am

I am an American that has been deep into the Third Ave family of funds since '03 and will never sell.

 

Became interested in ABB when I read that Australian ag companies harmed by lack of rain. Looked like an opportunity to me. Not surprised to see Whitman's team here before me.

 

You should feel very good about Marty's vote of confidence. His time horizon is very very long.

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