Market must be assuming Bremworth going to spend/waste all that cash
Printable View
Who would have thought that BRW share price would be the same as SML …37.5 cents
Just one of those meaningless numerical quirks
Looks that way .. but what does the recent past track record say ? ;)
Hope they're working doubly hard on carving up those tailored carpet squares in time for the fancy retail contingent in their suits & ties with matching bling to start snapping them up, when those intended targets have accumulated enough coin to add a few further squares to their flooring collections in the hobnob suburbs of urban better to do :)
Poor Tony up above must be looking down rather bemused over whats going on, in the aftermath following his departure from the productive & yielding pastures of a Cavaiier's fields where all the sheep as far as the eye could see were glowing with golden auroras in the bright sunshine and all those who toiled hard and took special interest were well rewarded back then 3 or 4 times a year ;)
Back in Tony's day a low wool price was a godsend with which golden rewards could be spun with ease, no foreign woolpullers about ready to take over the fields, and no imitation yarns much ready to unravel across the suburban hobnobville to destroy the golden dream.
It's a sad day when the spinners struggle to pull out a good natural wholesome yarn, the beancounters have difficulty unravelling & counting the knots to produce sustainable rewards past the occasional extraordinary events which require numerous meetings with Mr Insurer (another foreign outfit) to try to determine what has been forfeited for the medium future out of the latest event; how the most recent unfortunate calamity should be spun out to those patient watchers who took an interest, but have been left with empty plates for more moons than the Boardroom has seen coffee servings ;)
While this has been played out, the marauding foreign spinners have been weaving up a golden storm and claiming the Grand Cavalier's former green fields & golden sheep for their own, unnoticed by those in the Cavalier's chamber totally distracted by all the calamities in their midst ;)
The competition
"Godfrey Hirst workers 'anxious and frustrated' as they take strike action over pay"
https://www.rnz.co.nz/news/national/...ction-over-pay
The company is either rubbish at keeping shareholders informed or rubbish at concluding discussions with insurers
Significant for BRW.
Discl Holding
26/06/2024 15:04
GENERAL
PRICE SENSITIVE
REL: 1504 HRS Bremworth Limited
GENERAL: BRW: Update on Cyclone Gabrielle insurance claims
Bremworth Limited (NZX: BRW) advises that it has agreed to a further progress
payment of $16.5 million plus GST, where applicable, with its insurers,
taking total progress payments to date to $62.0 million plus GST, where
applicable - with these amounts currently non-specific as to material damage
or business interruption.
These progress payments have been used, and will continue to be applied,
towards the staged reinstatement of Napier spinning plant assets damaged by
the floods following Cyclone Gabrielle and for the re-building of the
business to pre-cyclone capability while also enabling the business to
continue to operate in the meantime.
The insurance claims for both material damage and business interruption are
complex and while good progress is being made, they will take time to
resolve.
The Directors expect to be in the position to provide another update on these
insurance claims when Bremworth releases its FY24 full year results towards
the end of August 2024, but will keep shareholders apprised of any
significant developments in the intervening period.
26 June 2024
ENDS
Getting the boat rocking & producing someting meaningful, possibly a dividend must also be extremely or too complex in amongst all the long woolly yarns being spun ;)
Anything complex issued about more rewards for the team who collared the insurance to fund continuing
the onwards trail of more of the same in a more stressed marketplace where the assessment of how many
will be hoofing it in for tailormade carpet squares to order still hasn't been considered or started? ;)
Never mind, there's a large pool of lazy insurance dough sitting there not going anywhere fast to cover any calamity or miscalculation that crops up or trips up the Cream bun munching boardroom brass .. no w*king f*rries about that .. there wont be any crumbs tossed out to stakeholders ;)
Poor old Tony looking down from above must be more than half amused watching what's going on after his pride & joy was passed into the mits of the next lot ;)
Dates back to May but German's largest TV channel producing a documentary on NZ wool featuring Bremworth at the centre of it with a release date in September/October. Apparently Germany is quite an untapped market for them and gives them good potential to open that space up and good free marketing thats worth quite a bit.
“A 15-second spot on Das Erste would cost $225,000, meaning the value of this eight-minute documentary to NZ’s wool sector is around $7.2 million.”
The documentary will be produced for its flagship Das Erste (The First) channel, which 60% of Germany’s population, about 50 million people, watch every week.
https://www.farmersweekly.co.nz/news...-on-german-tv/