KEY POINTS:
WES
Wesfarmers (WES), the owner of the Coles Group, has warned shareholders that comparative store sales growth in the retailing giant will be patchy for at least six months and that plans to boost its competitiveness could take some time to complete.
With sales of less than half that of the rival Woolworths, and the retailing environment growing weaker, Coles is far from upbeat about the timetable on its much-anticipated recovery.
Wesfarmers has been an outstanding conglomerate, succeeding where many others still structured along the dated lines of central control have failed.
WES is also known for its ability to integrate and improve the assets it acquires.
However, many are questioning the wisdom of taking on a challenge like Coles presents.
The problem is that time is not on its side as consumers are increasingly feeling the pinch of rising interest and rising fuel and food prices.
PGW
Rising world milk prices have benefited newly listed PGG Wrightson offshoot NZ Farming Systems Uruguay (NZS), which expects to beat forecasts of annual profit of US$1 million.
NZS, which listed in December 2007, forecasts annual net profit from operations of about US$1.5 million, including a performance fee payable to PGG Wrightson.
The company's milk production and farm development programme are in line with prospectus forecasts, with 10 cowsheds to be in operation by the end of April, milking 4300 cows.
