Charlie,
I note the single desk' is not needed for the AWB to do well after deregulation!
"MELBOURNE, AUSTRALIA — AWB Limited posted a net profit increase, for the year ended Sept. 30, of 137% to A$64.3 million from A$37.2 million the previous year. AWB’s revenue increased 47% to A$6.8 billion.
"This is a strong result particularly in light of commodity price volatility, variable weather conditions and regulatory change," said Peter Polson, chairman of AWB Limited. "The full year result was pleasing in a challenging environment and structural reform of the company over the past 12 months ensures the company is well positioned for future growth. We have reformed the structure of the AWB Group with a new commercial governance structure, new board and improved risk framework."
AWB Managing Director Gordon Davis said all three core divisions of the Group increased profits, with Landmark Rural Services achieving a record result with a clearer strategy and the business focused on investing in growth.
"The Australian Commodities division performed strongly and there was a mixed result in the International Commodities business," he said.
Davis said AWB is pleased with its performance under the new wheat marketing arrangements, as their wheat pools were well supported by Australian farmers. He noted the company also has made significant inroads into executing its marketing strategy to get the best possible returns for pool participants.
"Our overall strategy remains to increase shareholder returns by continuing to rebuild and grow the business domestically and internationally," he said."
This proves the CWB is bluffing.
I note the single desk' is not needed for the AWB to do well after deregulation!
"MELBOURNE, AUSTRALIA — AWB Limited posted a net profit increase, for the year ended Sept. 30, of 137% to A$64.3 million from A$37.2 million the previous year. AWB’s revenue increased 47% to A$6.8 billion.
"This is a strong result particularly in light of commodity price volatility, variable weather conditions and regulatory change," said Peter Polson, chairman of AWB Limited. "The full year result was pleasing in a challenging environment and structural reform of the company over the past 12 months ensures the company is well positioned for future growth. We have reformed the structure of the AWB Group with a new commercial governance structure, new board and improved risk framework."
AWB Managing Director Gordon Davis said all three core divisions of the Group increased profits, with Landmark Rural Services achieving a record result with a clearer strategy and the business focused on investing in growth.
"The Australian Commodities division performed strongly and there was a mixed result in the International Commodities business," he said.
Davis said AWB is pleased with its performance under the new wheat marketing arrangements, as their wheat pools were well supported by Australian farmers. He noted the company also has made significant inroads into executing its marketing strategy to get the best possible returns for pool participants.
"Our overall strategy remains to increase shareholder returns by continuing to rebuild and grow the business domestically and internationally," he said."
This proves the CWB is bluffing.
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