FCL 5.32% $1.88 fineos corporation holdings plc

FERTILIZER INDUSTRY , page-2

  1. 10,605 Posts.
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    Hi aramalap2,

    well when I was there there weren't too many leggy blonde business exec types in the agricultural sector full stop! Mores the shame. Congrats on your background, pretty well spot on as far as I remember.

    FCL trades at a discount because the insto's aren't all that fond of corporate raider types at the moment - a category the put Alan newman and FCL into with a star!

    FCL is supposedly awash with cash from the AAC and Bristile floats but negative issues are much more highly rated by the insto's at the moment than positives so the drought affecting the agricultural sector and industrial strife in the car industry are all resulting in FCL getting flogged. The transparency of FCL's accounting technic is not all that popular or highly regarded either I'm afraid. The insurance surprise a few weeks ago was just the sort of thing people had been afraid of.

    That said, it is rather hard to see how FCL can be justified to be trading so cheap.

    Will FCL buy Pivot ?

    I doubt it - it would probably be ICT trying to do it anyway and both of them would fact problems with the ACCC. But the ag industry is VERY incestuious, everyone is buying and selling each others product, Elders used to have quite a few Pivot agencies (may still do - I don't know) and there are rumours of other major players from Indonesia, the States, Japan etc keen to enter the market.

    Also WMC's Phospahte Hill project is now supplying product to nearly everyone (any colour as long as its black...)and of course WMC want to unload that too ie the ditribution arm called HiFert.

    Watch WES because they are not going to be left out in the cold, have heaps of firepower and already own a fert operation in WA.
 
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