Awb Ltd (AWB)
Sub-Sector: Diversified
Induction into AAG Agri-Index: 2nd Oct 2002
Last Updated 2nd February 2009
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Overview:
AWB is one of Australia's largest wheat management and marketing organisations. Its core activities are the pooling, marketing, financing and risk management of Australian wheat.
Chart. 1st January 2008 to 27th January 2009
Performance:
The past three months have proven to be disappointing for AWB, having shed 63% off its share price since late November 2008.
Recent Trading:
A major loss was experienced mid way through December, AWB and ABB ended their talks over a possible merger after being unable to agree to beneficial commercial terms.
To add to their woes, AWB announced to the ASX during February that “operating conditions in Australia were substantially weaker during the first four months of the FY compared with the corresponding period last year.” As a result, it is expected that first half profits will be 45-55% lower. This forecast is based on the expectation of slow trading continuing over the next two months.
Drought in South Australia has meant lower volumes received in AWB’s grainflow operations and Harvest Finance.