https://www.nzx.com/announcements/405519
Aus/NZ did way better than i thought and canada did less
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https://www.nzx.com/announcements/405519
Aus/NZ did way better than i thought and canada did less
Hope they crank the buyback with the SP at these levels.
Or pay us a 7 cent HY divvy
WTF going on with Canada - going nowhere Rawz. Must be a bit disappointing
Sales up 11.7% (less than what I was predicting) - EBIT might be about the same as last year or maybe 5% up. What's going on here Rawz - surely not selling heaps more and not making much more
NZ/Aust unlikely to grow sales as strongly in H2 - let's hope Canada doesn't become a disaster else the Full Year result could be real bad
So back to now growth (profit) company with a steady profit / cash flow. If that is the case decent divies should be the case as can't rely on the buyback forever to keepthe share price up.
For interest sakes heres an updated sales trend
Im not sure what to make of Canada.
Daniel Bracken reckons its good- "Considering Canada had a record first half last year, this year’s result still delivered growth, and represents 26% growth on two years ago."
Maybe we should be happy that they are maintaining the covid rebound boom in sales. Where as other retailers cannot maintain the the rebound and sales are shrinking back to the trendline
End of the day sales are up. EBIT up. Profit going to be up. balance sheet is strong. dividend will be more than last year.
whatever, im happy to hold
Police Minister Nash wants to quicken the scheduled reduction in number of dairies that can sell cigarettes to cut down number of burgalaries and ram raids
https://www.nzherald.co.nz/nz/politi...LBUDMRIR63N2U/
He apparently also looking at seeking a reduction in the number of stores selling jewellery
I post this for the MHJ fan club (includes me)
From our mates DMX asset management:
Michael Hill is a long-established jewellery retailer, originally from New Zealand but now Australia-based and operating a network of 282 stores across Australia (148 stores), New Zealand (48), and Canada (86). With a more than 40 year history of success, growth, and strong returns on invested capital (the vast majority of which as a listed company), it’s perplexing that the market rates the company so lowly. Having fallen ~20% in 2022, its shares continued to languish in January despite fairly strong December half-year results. The company continues to grow its revenue, and EBIT is guided to tick up modestly. Margins have been managed very well, with gross profit improvements over the past few years being sustained. The company has a pristine balance sheet, with – we estimate – around 10% genuine surplus cash.
Despite its long history of success, and in particular the clearly successful rejuvenation under its current CEO and management team, its shares trade for just 8-9 times earnings. Management and the Board are mindful of the value on offer here, with the company implementing an onmarket buy-back programme, and buying as aggressively as possible. In the two months from the commencement of the buy-back in September, until pausing for the company’s trading black-out period, the company repurchased over 2% of its shares outstanding. A solid achievement for a fairly tightly-held stock. The company is nearing the end of its 3-month black-out period, but has announced it expects to resume the buyback once it’s reported in late February.
We rate the company’s long-term track record, now-proven management, and rational approach to its undervalued stock. While the consumer environment is undoubtedly challenging, and expected to become more so in the period ahead, we believe the market is over-discounting this concern with Michael Hill and overlooking its high quality and very attractive valuation.