1. Most Discussed
  2. Gainers & Losers
TIM 4.4¢

SHAW: 2002 Results Reasonable

  1. zwu

    2,347 posts.
    ***SHAW Analyst Comments: Timbercorp's 02 project sales
    *** July 2, 2002
    *** 2002 Project sales

    Timbercorp (TIM) has advised that sales under various projects increased by 7% to $51m, comprising 1,100ha ($27m) of almonds, 462ha ($11.6m) of olives & 3,200 ha ($12.7m) of timber.

    Reasonable result

    While a reasonable result, was below the total offering & expectations of around $55m, with excess applications for almonds & some leakage to Macquarie Protected Equity Loan & Gunns Plantations in last weeks. Is still positive for TIM going forward, as:

    1) It adds $14m pa to the annuity style income in 03 & 04 increasing the proportion of total revenue from 39% to 50 -55% of total revenue. This will increase beyond 05 with commercial production of Almonds (3.0% of gross crop value) & Olives (3.5%).

    2) The sales removed $25m of the $30m in unsold developments as at 30 June from the Balance Sheet, strengthening cash flow & reducing gearing.

DISCLAIMER:
Before making any financial decisions based on what you read, always consult an advisor or expert.

The HotCopper website is operated by Report Card Pty Ltd. Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, you should before acting on the information or advice, consider the appropriateness of the information or advice in relation to your objectives, financial situation or needs. Please be aware that any information posted on this site should not be considered to be financial product advice.

From time to time comments aimed at manipulating other investors may appear on these forums. Posters may post overly optimistic or pessimistic comments on particular stocks, in an attempt to influence other investors. It is not possible for management to moderate all posts so some misleading and inaccurate posts may still appear on these forums. If you do have serious concerns with a post or posts you should report a Terms of Use Violation (TOU) on the link above. Unless specifically stated persons posting on this site are NOT investment advisors and do NOT hold the necessary licence, or have any formal training, to give investment advice.

Top