Very interesting. In my view, no body can predict correctly, but we can try to estimate. Even Apple has introduced "buy now pay later."
It means consumer purchasing power is falling rapidly.
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Very interesting. In my view, no body can predict correctly, but we can try to estimate. Even Apple has introduced "buy now pay later."
It means consumer purchasing power is falling rapidly.
A bit of a tumble today. that guy on the other place that said some silly price due to technical analysis might be right based on the drop today and the buy side depth. :scared:
MHJ must have you pulling your hair out rawz
Downtrend still quite strong ….and still remains rather unloved
Might get an update in a few weeks and an idea what full year result will be
MHJ master of +ve spin and I think they’ll have to pull all stops out to paint a shiny bright picture this time around.
Even KMD gone below a buck today
Thursday is the day when we’ll hear if the ‘challenging conditions’ have continued since the last update which said the first 20 weeks of H223 sales were down 3.5%
Way share price going today maybe it’s no so good news
Suppose not too bad in a “challenging market”
Full year Comparable EBIT (whatever that means) down about 10% on last …..looks like second half about breakeven at npat level
But all looking good for F24 so no worries
http://nzx-prod-s7fsd7f98s.s3-websit...969/398786.pdf
Canada showed no growth …hope not becoming a bit of a dog
Pretty good result all things considered.
I try hard to really like (enthuse over) MHJ
Sales trend as per chart not that inspiring and this years profit much the same as 2017 hardly inspires confidence.
Full credit to whoever writes their announcements ……always so so positive but words don’t seem to translate into good numbers …..steady as she goes probably best description
I too find it hard to get enthused with MHJ.
I did get over excited late last a bought a small holding,however when I could not load my banking details into the Aussie share registry's web site I sold.
Stores Canada plus 1,NZ minus 2,Aussie not counting Bevilles minus 1.So 2 fewer stores.
Bevilles 26 stores.
The big question is whether Bevilles' roll out will be profitable,and if so by how much.
well there are buyers today... really a big day almost ... share price did not collapse...
MHJ share price not wanting to say over 100
Worries about the execution of that new acquisition or market not liking the sell less make less strategy
im hoping one day i can load up in the 80 cent range. like 88 cents would be a treat. one can dream
http://nzx-prod-s7fsd7f98s.s3-websit...058/401375.pdf
Key Financial Results
• Group operating revenue increased by 5.8% to $629.6m (FY22: $595.2m, FY21: $556.5m).
• Comparable earnings before interest and tax (EBIT) decreased by 6.3% to $58.9m (FY22: $62.9m), giveninflationary cost pressures and substantial investments in New Zealand security measures. This comparesfavourably to FY21 by 4% (FY21: $56.6m).
• Group gross margin decreased by 50bps to 64.2% (FY22: 64.7%), yet 150bps ahead of FY21 (62.7%).
• Statutory net profit after tax decreased to $35.2m (FY22: $46.7m), with the variance to comparable EBITperformance largely driven by AASB16 Leases & SaaS.• Healthy inventory position to support elevated sales at $203.3m (FY22: $181.5m), with the increase mainlyattributable to the Bevilles acquisition.
• Deployment of cash on share buy-back, dividends, the Bevilles acquisition and reinvestment in the business,resulted in a net cash position of $8.4m (FY22: $95.8m).
• A three year $90m banking facility was finalised on favourable terms in June, to support strategic growth initiatives.
• Final dividend of AU3.5 cents per share declared, delivering total dividends for the year of AU7.5 cents per share(FY22: AU7.5 cps).
Operational Performance
• Group revenue was up 5.8% for the year, with Australia +9.1%, New Zealand +5.8% and Canada flat.
• Digital sales were largely flat at $41.3m (FY22: $41.9m, FY21: $34.0m) for the year, demonstrating a strong secondhalf recovery from -9% at the end of the first half.• Brilliance by Michael Hill membership now over 2 million (FY22: ~1.4m), driving repeat customers and higher ATV.
• Key initial focus for Bevilles is on integration and store roll outs, with three sites secured and another three sitesclose to finalisation for pre-Christmas opening, with a further tranche of sites already identified for the second half.The newly acquired Bevilles business contributed four weeks of sales to the FY23 Group result.• For Michael Hill, three new stores opened (AU:2, CA:1) and five under-performing stores permanently closed (AU:3,NZ:2) during the year. With the inclusion of 26 acquired Bevilles stores, the store network totals 304 across allmarkets at the end of the year (FY22: 280).
Sales up 6% …..NPAT down 25% is real story when you disregard all the sparkling talk ….but after all they are sales people
And the $35m real profit is even less than F21
Last few years was great watching the margin expansion. Now are we looking at a trend backwards. started with 50bp hope its not going to drop by 200-300bp
Still a great company with clear strategy for growth in their home markets. Balance sheet is strong to support the growth. Dividends will continue to flow.
Potential for SP to drop if the slow down continues. 80 cent range would be lovely