Jul 29, 2010
Ridley Inc. Reports Preliminary Results for Fiscal 2010 Fourth Quarter
Ridley Inc. (RCL.TO) Reports Preliminary Results for Fiscal 2010 Fourth Quarter
As stated in that MarletWatch article, the 4Q results of Ridley showcase improved operational performance for the company.
As they state it in their quarterly report, their loss has been narrowed compared to a year ago. This is good sing for a company on it's way to profitability.
Let's remind that Ridley Inc., the former subsidiary of it's Australian parent company, was sold to Fairfax Financial Holdings Limited in 2008. since then, the stock of the company has been pretty illiquid because of the large block owned by the Canadian insurer.
Their short term results have been altered by the critical conditions present in the current financial environment. Exempt from them, the company is on track for great success for their shareholders.
Depending on right assumptions, the company should yield great returns, since the parent company, Fairfax Financial Holdings Limited, should proceed to a complete buyout of the roughly 20 millions shares of that company that are still publicly traded on the Toronto Stock Exchance under the symbol RCL.TO.
Untill then, I will keep acquiring more stock in this interesting value play.
Full disclosure: Long RCL.TO
Posted by Jimmy Munyemana at 4:08 PM