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WBA - Webster Limited

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So_Cynical

The Contrarian Averager
Joined
31 August 2007
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Webster Limited is Australia’s fourth oldest business...and biggest walnut orchard
manager (2200 hectares), there also big in carrots and onions....seriously. WBA
is also the largest shareholder in Tassal - TGR with 26%

Market Cap: 40,696,210
Issued Shares: 64,597,159
First listed: 01 Jan 1974
52-wk High: 1.94
52-wk Low: 0.60
Dividend: 0.045 cents

http://www.websterltd.com.au/

The food business is supposed to be recession proof so I figure there could be some
value here with the SP at current level....FCL sold their holding on Friday.

Opinions?
 

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Re: WBA - Webster

Must concede I keep a very close eye on Webster mainly to track it's share price compared to Tassels......I've owned a few for a while, hold many more Tassell.......

When I first bought WBA, it was a case of paying the equivalent of their Tassell holding.......and getting the WBA businesses for free........some of those were losing money then (auto) but a key thing to remember is that even poor businesses or loss makers......I put WBA mainly in that category are worth cash....as WBA proved when they sold off auto
 
Re: WBA - Webster

They're even cheaper now!
Their TGR stake has an MV of $70m v WBA's own MV of around $40m at current prices.
I'll be taking a closer look.

 
Re: WBA - Webster

hehe, Old Blue, you are just ahead of me....I did that analysis just after writing............the key question you would ask yourself is how much you like Tassell.....I'm a big fan....

So there Tassell share is worth about 70 mill, market cap of bout 40 with debt of about 20....it's very interesting since their underlying business that the debt is attached to is obviously worth a pretty penny......

I notice that motorcycle riding, management hard nut, Chris Corrigan recently showd up on the board and appears to own about 5% of the company on my rough calculation........he would be the last person I would bet turning up on Webster's share register......WBA is not exactly a major entity
 
Re: WBA - Webster

Interesting observation Rainmaker. No one seem to be interested in WBA, but high volume Friday with lots of buying and not many sellers left. Perhaps its related to the positive article i found online on http://theinflationist.com/agriculture/the-inflationist-invests-in-walnuts-carrots-onions-and-salmon.
new site but interesting concept to outperform mr haselhurst in his own game by inviting the public to take the challenge of investing publicly. Signed up myself, not sure what to buy yet. winner will be invited to dinner in melbourne! http://theinflationist.com/the-inflationist-challenge-2009/the-speculator-challenge-2009

see you guys over dinner in 2010! im gonna kick the speculators ass!
 
Re: WBA - Webster

WBA SP has firmed a bit but still look to be a cheap way into TGR.
WBA market cap now $45.2m v market value of their 26% TGR holding at $70m. Before taking account of the value of the rest of WBA's business!

Disc: Not holding but getting interested!
 
Re: WBA - Webster

what fruits do they produce (if thats the right terminology) I notice they have interest in carrots, onions, and i think walnuts ... do they have anything else that they produce.
 
Re: WBA - Webster

Bluebeard said:
what fruits do they produce (if thats the right terminology) I notice they have interest in carrots, onions, and i think walnuts ... do they have anything else that they produce.
Click to expand...

No, nothing else.
Their shareholding in TGR is still their main asset, worth substantially more than their own market cap.
The only thing that stops me from buying is their mico-cap status and the thin trading that goes with that.
 
Re: WBA - Webster

Private equity interest in TGR looks like paying off for WBA at last!

I never followed this one up, too micro and thinly traded even for the speculative part of my portfolio - but good luck to any WBA holders on this forum.

 
Re: WBA - Webster

Interesting letter received today from Petra Capital seeking to purchase shares in WBA on behalf of Institutional clients.

Fat Chance IMO and no liquidly in the market either - Nice.
 
Re: WBA - Webster

craft said:
...............no liquidly in the market either - Nice.
Click to expand...

I noticed the buy opportunity above 56 from the double bottom. Excellent pattern and I often looked at its rise at the pace of a snail on crutches and passed on each occasion because of the liquidity. The piece on Landline a few weeks ago did it no harm.

Cheers
Country Lad

 
Re: WBA - Webster

Hi,

I don't know what has kept the share price appreciating given there hasn't been any announcements to the market since the 29th November (last year). That announcement was god news that it won an export award.

Webster Ltd wins National Export Award
On Tuesday, 26 November 2013 Walnuts Australia, an operating division of Webster Limited, won the Agribusiness of the Year Award at the 51st Australian Export Awards in Melbourne. On hand to receive the award in the presence of Prime Minister, Tony Abbott, and Trade Minister, Andrew Robb, was Webster Limited’s, Chief Executive Officer, John Hosken.

If you would like to read more, then you can do so by clicking on this link:- http://stocknessmonster.com/news-item?S=WBA&E=ASX&N=399054

 
Re: WBA - Webster

Early indications that this year’s crop looks good.
The new cracking facility will be ready for the harvest.
Avondale development schedule on track.


 
Last edited by a moderator:
Re: WBA - Webster

Webster Limited - A Potted History

Webster Limited is Australia's fourth oldest business. It commenced operating in 1831, just 28 years after the settlement of Van Diemen's Land, as a traditional pastoral house. One hundred and eighty years on, it is now a diversified food and agribusiness with a growing reputation locally and internationally for the quality of its produce.

The Company saw many changes during the 19th and 20th centuries. In particular, Webster played a part in the historical development of the dairy, energy and paper making industries by supplying generators, refrigeration equipment, pumps and motors to these sectors over a period of more than 100 years.

In the 1960s, Webster also established itself as a specialist in bearings and engineering supplies. These industrial businesses operated as Webster Trucks & Machinery, and Webster Bearings and Engineering Supplies.

Webster Limited listed on the Australian stock exchange in 1974 (ASX:WBA).

Using its traditional rural services, merchandising and heavy equipment segments as a base, Webster entered the horticultural industry with the acquisition of leading onion exporter, Vecon Pty Ltd in 1996. Rationalisation of the onion industry then saw 3 former competitors combine their resources...

If you want to read the rest of the article can be seen by clicking on this link:- http://www.websterltd.com.au/corporate/history

An interesting video about the company can be seen here:- http://www.websterltd.com.au/corporate/about.php

​
 
Re: WBA - Webster

The company has negative cash flow for 5 / 6 years: 2009, 2010, 2011, 2012, 2014.
In most of years, the "Receipts from customers" can barely cover "Payments to suppliers and employees".
Anyone has a clue on this??
 
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