What the Brokers Said
FAIRWOOD Holdings operates Western and Italian fast-food restaurants under the names Fairwood and Mario's.
This time last year brokerage W. I. Carr placed a buy on the stock, saying the company would benefit from stronger economic growth and management initiatives.
This proved poor advice. Rising food costs and slumping demand saw Fairwood serve up a net loss of $88.21 million in its 1996 results.
A year ago Fairwood shares traded at 78.1 cents. Now they are worth 37.5 cents, having trailed the Hang Seng Index by 61.19 per cent.