Sorry SK didn't see the Singapore location
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Sorry SK didn't see the Singapore location
Well, the issue price of the SPP is not yet decided. Quoting from memory but the price to be calculated from the average closing price for the 5 working days prior to the relevant days in April. Check today's announcment.
Goodness gracious - Rod Oram writing something positive
In that respect this is a glowing endorsement of WHS strategy ...A GROWTH STRATEGY
http://www.stuff.co.nz/business/opin...on-the-upswing
opportunity to question Sir Stephen Tindall about the Warehouse strategy (and anything else you want to know from him): Wednesday pm on NBR - bring it on!
http://www.nbr.co.nz/ask-sir-stephen
Lots of unlocked potential in WHS. Im not into retail but this could be a good investment. Good to see them cleaning up their stores and investing in the NZ market. Recent experience tells me they dont understand retail outside of NZ so long term investment potential might be risky. Not sure if they can improve their margins but if they gain exclusive supply agreements that dont translate well into online retail they may be able to work on it. Still its a high risk industry for investment.
In the financial year to July 2013 WHS sold a big chunk of their land and buildings, netting sale proceeds of $194.1m and booking pre-tax profits of $77.3m. Directors' assessment of fair value for the remaining land and buildings dropped from $284.8m to $183.8m. Still a big chunk there but clearly the company sees the value better employed in the business than tied up in property. Whether the remaining property value is reflected in the SP and/or whether the divestment process continues ...?
Didnt a few well known Australian retailers spin their property assets out to "better reflect the underlying business". I remember reading about this. Was it Woolies or Harvey Norman? I think it was to unlock value of the property that can get lost in an under performing retailer.