Midway Ltd (ASX:MWY)
A$ 1.24 0 (0%) Market Cap: 108.30 Mil Enterprise Value: 115.54 Mil PE Ratio: 124.50 PB Ratio: 0.75 GF Score: 66/100
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Half Year 2020 Midway Ltd Earnings Call Transcript

Feb 27, 2020 / 03:00AM GMT
Release Date Price: A$1.57 (+9.03%)
Operator

Thank you for standing by, and welcome to the Midway Limited HY Results Conference Call. (Operator Instructions)

I would now like to hand the conference over to Mr. Tony Price, Managing Director and CEO. Please go ahead.

Anthony R. Price
Midway Limited - MD, CEO & Executive Director

Thank you, and thank you, everyone, for joining our FY '20 half year profit results. You'll all have read the ASX announcement this morning, so I'll just focus on touching on key points.

As you'd appreciate -- or as you'll all appreciate, the numbers are very disappointing given we achieved a record profit in the same period last year. The reality, however, is that the last 6 months of 2019 were probably the worst global trading conditions we've had to deal with for the last 10 years. The U.S.-China trade war, overproduction of pulp in Brazil resulted in excess stock globally and had a significant effect on the market pulp price, dropping from about USD 760 a tonne down to USD 450, which has had flow-on effects to the woodchip demand and price. As a result,

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