It is definitely a good buy today, i also picked some up @ 0.935. As the statement reads the outlook is positive, short term volatility will pay off in the medium/long term. Great L/T stock...benefits will come to those who r patient.
"AWB's Geneva trading office is performing well, and after a subdued fiscal first quarter the Landmark rural merchandise and services unit is experiencing a significant increase in the level of activity, particularly in fertilizer and merchandise, due to improved seasonal conditions, Davis said"
Also the fact that they have settled the Class action will contribute to the positive outlook for this stock going forward. I believe that has hindered the performance fo this stock greatly over the last 2 - 4 years, therefore occurring this significant once off item of $39.5 mil is justified. Once this is out of the way the 2nd quarter should look a whole lot brighter!! Drought is also easing!!
Enjoy the ride all! :)
AWB Price at posting:
94.0¢ Sentiment: LT Buy Disclosure: Held