Thanks for posting.
Former highly respected poster MiniMoke sent me them.Thanks MM.
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Went past there myself the other day and had to stop and check it out, agree looking very impressive.
Results continue to impress, enjoying the ride.
Will try and get up for the AGM Percy and look forward to that presentation and discussion, you may have to tell them to book a bigger room for this meeting if the increased interest on this site is a gauge of possible attendance.
Thanks Percy, S Bob & Minimoke, who is sadly missed from the site and always welcome back :-)
WOW, .80 GONE, .85 GONE ,next stop $1-00 !!! , well done holders.
It is clear from reading the Chairman's comments in the Annual Report that delays with shipping and increased freight costs are causing significant issues. While sales growth was great in 2020 (+24%) gross margins stayed at a healthy 44% (-2%), NPBT up 30% and EPS up 35%, the Chairman states that Q1 in the current year has been challenging with lower sales than Q1 2020, extra freight costs being absorbed and delays in deliveries being experienced.
The 2 new dry freezers were planned to be operational in Q4 2020 & Q1 2021 but are delayed into Q2 + Q3 this year.
So there are some reasonably strong headwinds at the moment, at a time of significant construction of new production facilities.
I think it now looks like a very good idea to have sought a cash injection from CIBUS to fund the construction and near term growth as they did awhile back.
On the positive side we have a strong balance sheet, good cashflow and a strong demand for our products. But we may need to have some patience with this one, something I'm totally content with.
All seems to be going well that the Company management can control and issues causing concerns are out of their controls and being felt by almost every export/import business in NZ and around the World.
I do note that the Chairman and associated entities reduced their holdings by 2 million shares during the year, but all other Directors neither reduced nor increased their holdings.
A happy & patient holder :-)
All time high of 90c today on a fairly strong 100k shares traded. Not too shabby !