Anglo-eastern Plantations Share Discussion Threads

[bountyhunter] 01/5/2008 13:43

found this lobby:

Palm oil price surge lifts Anglo Eastern

Revenue in 2007 grew to $127.9m from $79.1m in 2006, while profit before tax rose to $52.6m from $26.7m.

Despite expenditure of $14.5m on three acquisitions and capital expenditure of $12.2m in 2007, net cash at the end of the year had risen to $23.3m from $9.6m at the end of 2006.

The market average price for crude palm oil (CPO) in 2007 was $790 per metric ton, up 65% on 2006's average price of $479 per metric ton.

Following four land acquisitions the group is targeting a doubling of the planted area on its estates in the next six years and has arranged for borrowing facilities to be in place to support this expansion.

Fresh fruit bunches (FFB) crops this year have been satisfactory, with production running about 20% higher than in the corresponding period of 2006, but the group said it is too early to tell whether this rate of improvement can be maintained over the course of the whole year.

The crude palm oil price currently stands at around $1,160 per metric ton, having briefly hit a peak of $1,390 per metric ton in March. Though the price is trading below its recent peak it is still well above the year-end price of $960 per metric ton.

The group said that although an element of the price rise could be attributed to investment demand from financial institutions, most industry observers expect demand from food companies to remain strong throughout 2008, with demand especially strong from China and India.

In view of the positive outlook for the price of palm oil and the recent satisfactory harvest the board has proposed a 30% increase in the annual dividend to 14 cents from 10.8 cents in 2006.

[hvs] 01/5/2008 13:34

Clothier has been unclothed,

Best FILTERED.

[bountyhunter] 01/5/2008 13:31

thirded woracle

[sclothier] 01/5/2008 11:28

I'm not trying to "spoil" your informative and intellectual thread here, as I said was hoping to find some info. Now Woracle you mentioned that you have been doing your research for years so I am assuming you will be able to explain to me who the minority shareholder is that has taken out a loan that they didn't fully repay back and what assets the company has devalued at just under a million USD in one year? See below for figures, figures furthest to the right are 2006, ones to the left are 2007. This info was taken from the ' Unaudited Consolidated cash flow statement', but i'm sure you all know this as you have been doing your research for years so will have read through the results.


Loan to minority shareholder (578) -
Repayment by minority shareholders 286 -


Depreciation 4,264 3,551

Thanks in advance.

[lobby ludd] 01/5/2008 09:47

ditto
Not a word on the results in any of the papers today - even the FT doesn't even print the bare figures.

[sclothier] 01/5/2008 08:18

Good morning all.

Yes bounty hunter i did appear from nowhere, thought I could pick some peoples minds for any information on what I heard. Evidentally this is not the case.

A little hint to any investor that cares to learn. I recommend you look into the sector/industry that you invest in, look at other companies in this sector (or similar), speak to the company, speak to friends abroad that work in this industry and gather their opinions on where prices of the commodity are likely to go, etc. Which brings me onto the silly question "who is my source?", i think this just shows how dim some of you can be. If I was to say 'Steve Jones', for example, would you suddenly change your investment strategy?? I really hope not, anything that you put your money in you should make your own decisions. Basics lads, come on!!

Take care all.

P.s Steve Jones is a made up name so don't go selling those shares because he said so.

[hvs] 30/4/2008 18:44

I asked him to take a dive.

[woracle] 30/4/2008 18:15

Yes SCloth, this exact poxy BB..all info on all BBs should be personally checked so they are all poxy..still have the sources to your poxy rumour ? :)

[bountyhunter] 30/4/2008 17:58

you were the first person to suggest an (unsubstantiated) rumour on this BB SCloth when you appeared from nowhere - what is your source or are you making it up?
...you seemed to accept woracles tongue in cheek suggestion about Mrs Lim pretty readily!

[sclothier] 30/4/2008 17:45

Haha do you mean the poxy BB that you read and write on too?

Good one adding Mrs Lim by the way, adds a bit of juice to your claim. Either way i thought this was a good way to find out what others thought and heard.

Thanks for your help here woracle.

[woracle] 30/4/2008 17:12

SCloth, why don't you substantiate the rumours with a bit more evidence or sources and tell us...Or are you the original source ? We are all ears ;)

I guess no protection in the event, even in this country.. didnt Fred the Shred from RBS commit fraud by giving false info to shareholders continually ? He got a 3M bonus and the shareholders got no protection .. but the opportunity to be shafted for a 11 for 18 rights issue ! But those roumours of Fred telling fibs were started in national media like the FT.. yours, as far as I know come from a poxy BB at the moment :)

[sclothier] 30/4/2008 17:03

Surely not.........what a sly old boy. Does the company have to release this information? Question is, what protection do shareholders have if the crime is comitted in another country, yet the company is on the LSE?

[woracle] 30/4/2008 16:44

Yes SCloth..the rumours I am hearing are that the old pensioner has done a runner with Mrs Lim and the $40M cash..gulp !

[hvs] 30/4/2008 14:42

Best you make yourself a swimsuit and dive.

[woracle] 30/4/2008 11:42

Bit of luck, my 580p prediction for results day as on post 424 :)
OK try again for 2009..new prediction based on current paramaters, CPO 1000 to 1300, production up 20%. I am going for EPS 118c, price 966p.

[woracle] 30/4/2008 10:55

space,
Look back at previous years outlooks. AEP never one to be optimistic.. Satisfactory is about as good as it gets for them whatever the outlook ! Its just their style..

Lobby, yes the cap is effectively correct unless prices go above about 1300. BUT at least AEP are not selling foreward at silly prices like NBPO and RE. If prices move between 1000 and 1300, u can effectively say, they are stable for AEP so that gives a very predictable earnings. Moreover, there are rumours Indo will drop export taxes soon..must be hurting their trade compared to Malaysia. Consider this too .. NBPO sold foreward 33% at 775, so I think AEP will achieve a higher average if prices average say 1100. Also, I know its early days but NBPO first 2 months production is up only 1 or 2% from my research. AEP is up 20% first 4.. Historical PE of AEP is 15 vs 23 at NBPO, and with higher growth here this year too from my arguments..

[lobby ludd] 30/4/2008 10:03

woracle - thanks for your observations.
I note that AEP say that the recently introduced Indonesian Government tax on CPO prices 'effectively caps them at between $1,000 and $1,050'. So, if prices were to remain at current levels or higher (and why wouldn't they ?), in order to gain the full benefit, will consider a move out of AEP (with its predominantly Indonesian based business) into NBPO, based in Papua New Guinea, and (as far as I am aware) not subject to such stringent taxation.

[spaceparallax] 30/4/2008 09:50

Very good results. Dividend rather stingey and outlook cautiously optimistic - I suppose it all depends on whether the CPO price will remain so strong or if it's likely to retreat after insti speculation falls off.

Happy to sit tight, but won't be accumulating at this price, which presumably gives a PER of about 14.

[woracle] 30/4/2008 09:08

Yes, very good . 77c is about 10% above what was expected, helped by lower tax charge. But everything else going smoothly as expected, apart from the 20% up in early production which is a pleasant surprise, and its nearly 33% of year gone. A few old geezers retiring..maybe they will start offloading and dampen the price for a few months. Hope so ;) Historical PE of 15 makes it cheapest of all the UK plantations. Foreward PE closer to under 9-10 I reckon as I am expecting 50%+ growth this year. Also, 20% up on last year so far is by far the best of all the reported plays. Will definetly be adding in due course.

[hvs] 30/4/2008 08:29

Very good figures and more to come. Production is up 20%

[bountyhunter] 30/4/2008 07:42

wake up - results out!
I'm happy with those :)

[thepopeofchillitown] 29/4/2008 13:43

Results tomorrow then? Believe it when it see it.