Friday 14th November 2003
|Text too small?|
The issues are old ones. First, the company didn't live up to the 2001 information memorandum ebitda (earnings before interest, tax, depreciation and amortisation) forecast of $18.3 million for the August 2002 year.
That's disappointing for everyone but in the context of a rocketing exchange rate, low beef prices for Tru-Test's customers and the Australian drought, it's scarcely surprising.
The Neuronz purchase has also aggravated some shareholders but, like the company's financial performance, that was known before last year's annual meeting, at which, apparently, no questions were asked.
The theory getting most traction is that someone is trying to unsettle shareholders and turn up the gas on Tru-Test's board and management to smooth the path of a takeover.
The natural candidate for the bidder is Skellmax Industries, whose largest shareholder, Axa Asia Pacific, has 5.67%.
It's a small country. Axa is also one of Tru-Test's shareholders.
No comments yet
NZ dollar sags after avalanche of data and central bank action
Fonterra board starts planning chair succession
Fulton Hogan keeps Australian civil construction unit
Time for congestion pricing has come - NZIER
Colliers defends KiwiBuild as 'far from a colossal failure'
Pushpay shares rise as cost-cutting upgrades earnings guidance
20th September 2019 Morning Report
NZ dollar weaker against British pound on EC president's Brexit optimism
Todd plans Kapuni drilling campaign
MARKET CLOSE: NZ shares gain; appetite for KFC helps Restaurant Brands hit record