AUSTRALIA: Southcorp "undervalued" says CEO
"Southcorp is too important a company to remain at risk with a share price substantially below where I believe the long-term value of the business lies. This is not the most difficult turnaround in corporate Australia. The things that went wrong with Southcorp were more to do with poor corporate judgment and don't affect the fundamentals of the business which remain sound," Ballard said.
Ballard said Southcorp was one f the few Australian owned consumer product companies which had the ability to compete successfully on the world stage."
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