And importantly the dividend is intact 6c final and FY 19c as promised as a minimum for shareholder certainty.
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And importantly the dividend is intact 6c final and FY 19c as promised as a minimum for shareholder certainty.
quick glance reveals they have margin issues, employee costs big increase, noel leaming not performing as good as harvey norman nz , torpedo 7 poor , red sheds alright but still could do better , warehouse stationary was the best performing unit
Yes, it all reads like "well-positioned, profitless growth" using yesterday's outdated model. Time to avoid, IMO.
NPAT was $79.7m in 2003 - 10 years ago.
In that time, WHS has had several changes of CEO, formats, strategies etc - and profit today is lower than what it was then!
Now the strategy is acquisitions - more sales but less profits.
So much for the strategic reshaping of the business.
WHS in my mind is analogous with another tired old brand Kentucky Fried Chicken.
Both brands are really, really old and tired, everyone knows them and has tried them many, many times over and wants something new, fresh, interesting and above all something that's better quality and better for you. Basically what both brands sell is crap or something that's slightly less than rubbish packaged up in a old tired format.
Lame old ducks, both brands IMHO.
WHS is worth a small 5% ish portion of your portfolio IMHO it ain't going away in a hurry and keeps churning out the divvys, KFC may be tired but it still tastes darn good especially after a hard days skiing.
New Lynn Medical centre in west Auckland here, strategically located their practice within a couple of hundred yards of a KFC branch. My doctor told me its the best business decision he's ever made :D
Roger, you might be right about KFC but I love it. I don't get your reference to your doctor, however. It was the "best business decision he ever made"? I would have thought getting his medical degree was because that entitled him to start his business. Was he just being flippant do you think? Even if he was it's still a puzzling comment. It's a tired old brand (according to you) but he "strategically" located his practice there - is it because people love going to KFC and he might get some spin off business? Well that sounds good for KFC. Is it because people get unwell from eating it and have to visit the Doctor - well that still suggests that the business is doing well. Or is it something really simple like KFC has extra parking spaces that your Doctor's patients get to use.
Did you ask him what he meant? If not, can you ask him what he was getting at next time you visit him?
BTW, I hold WHS.