Interesting that the mainstream press and research analysts aren't picking this up..
I always viewed GNC as a volume not price ag stock.. i.e. they don't get to enjoy commodity price highs and are protected from commodity price lows, but they are fully exposed to droughts and big crops.. So.. if this will be a bumper crop I'd hope to see a big outperformance on the half year and full year numbers.
What they do with all that cash is going to be interesting.. return it to shareholders or retire debt? Retiring debt may make them another PE target (they love unlevered businesses that can be broken up) and a nice little dividend wouldn't go amiss.. retiring debt will probably support the share price over the longer term.
Thoughts?
Big GrainCorp crop received, page-2
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