AWB: Worst Performing Company

Submitted by Marco on 10 December, 2006 - 10:24

AWB Worst Performing Company

AWB was the worst performing company listed in the Australian Stock Exchange (ASX) this week (Loser of the week for week 49 of 2006). The AWB share price closed 8 percent lower this week after the Australian Federal government removed its wheat export monopoly. AWB has been in the news lately largely due to the scandal related to the kickbacks and the oil for food program. The changes to legislation are contained in the Wheat Marketing Amendment Bill 2006. AWB, which has held the export monopoly for 67 years, has warned grower returns could be slashed if farmers were allowed to sell through another company. The bill temporarily strips AWB from their exclusive export rights.

AWB Limited is listed on the Australian Stock Exchange (ASX) under stock code AWB. You can view their investor website here. AWB was listed on the ASX on 22 August, 2001. According to their website: "AWB Limited is Australia's leading agribusiness and one of the world's largest wheat marketing companies. The company is the exclusive manager and marketer of all Australian bulk wheat exports through what is known as the Single Desk. The company markets wheat into more than 50 countries, with Australian wheat exports worth up to $5 billion per year. AWB markets and trades a range of other grains both domestically and internationally, as well as providing additional services such as chartering." Simply put, AWB is involved in wheat management and marketing services. Brendan Stewart is the current Chairman for AWB. A previous stock recommendation for AWB and an earlier article about David Tweed buying AWB shares. Browse for Australian stockbroker recommendations. Check your charts and good luck with your share trading!

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