Yes, I think diversification is good when done right. On a related note, Costa issued a (negative) Trading Update just this morning, will be interesting to see the reaction. Shares traded at about $7.35 yesterday, opened this morning at $4.60. Happy I'm holding RFF but not CGC today.
ASX ANNOUNCEMENT
10 January 2019
TRADING UPDATE
Costa Group Holdings Limited (Costa; ASX: CGC) has experienced subdued demand in a number of categories, namely tomato, berry and avocado during December 2018, and trading conditions in January appear to be slower than planned at this stage. This patchy demand has been reflected in reduced pricing for a number of product lines. The citrus ‘off season’ which reflects the biennial nature of this crop also finished earlier than expected.
These factors will result in a reduction to the previously guided interim FY18 forecast ending December 2018. If current trading conditions continue, this, together with short term slippage of the commissioning of the Monarto mushroom facility upgrade in South Australia and the previously announced additional costs from investments such as African Blue, is expected to result in largely flat growth for the twelve month NPAT-S to the end of June 2019 compared to the prior year. This compares to our previous forecast of low double digit growth for that period.
Balanced Discussion of Risks, page-45
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$1.88 |
Change
0.005(0.27%) |
Mkt cap ! $768.1M | |||
| Open | High | Low | Value | Volume |
| $1.89 | $1.90 | $1.87 | $887.1K | 472.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 40999 | $1.88 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.89 | 6272 | 1 |
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| RFF (ASX) Chart |
