Imho NZers mostly won't touch shares because of bitter experience, too many crooks and incompetents running the show. Every time they see the investor done over and the incompetents and crooked still sitting on the piles of loot. Hence the few local investors demand high dividend yields, which inevitably leads to lower growth and/or (until the GFC) risky balance sheets.
Unfortunately there's not a lot of support of any sort for honest toilers like F&P for other reasons as well, hence manufacturing decimated. Some don't like to see success, and won't tolerate imperfection in any lauded as a local hero.
I'd like to see F&P with a really supportive long term shareholder holding at least 10%.
EL
FPA Price at posting:
$1.03 Sentiment: LT Buy Disclosure: Held
