Short Term Trading Week Starting: 26 Mar, page-73

STTCOMP WBA, FA LONG

SP $1.545
MC $558m
Borrowings $119m (interest $8m pa)
P/E 12

Webster Limited (WBA) is a land-based food production company with 3 main operating businesses: Agriculture, Water and Walnuts Australia. The company has recently bought fruiting Almond plantations WBA focuses on export of onion, Almonds & in-shell walnuts and production of counter-seasonal food to supply to northern hemisphere markets. The Almond production in California, the world's largest grower, will be down 90% at next harvest because of natural disasters (weather, fire) and the acquisition of Almond production should boost the price of WBA.

They do need to lower their borrowings. Executive Chairman is Chris Corrigan, who has had some success previously!

Appears cheap wrt other comparable agricultural companies.

pmd3nka (holds from today, after sp retreat)