Hell its bad. The royal oak jewellery shop that had a 200k smash up. 3 offenders only one jailed and not that long. They were spilling sob stories to the judge. If this were saudi there would be a lot of one handed people
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Hell its bad. The royal oak jewellery shop that had a 200k smash up. 3 offenders only one jailed and not that long. They were spilling sob stories to the judge. If this were saudi there would be a lot of one handed people
Action at last ..an acquisition
Going to be eps accretive immediately ……what a nonsense statement …of course if profitable it’s going to EPS accretive,
http://nzx-prod-s7fsd7f98s.s3-websit...165/392879.pdf
I think the acquisition makes sense.
Expanding the foot print of a "profitable" business should reward shareholders.
They will need to watch the cost of store fit outs.
Michael Hill stores took a very long time to cover their fit outs.
From memory it was 2 to 3 years, compared with LOV's under 6 months.
https://www.nbr.co.nz/investment/mic...atch-retailer/
NBR not as posh as AFR
nice little bolt on.
hard to watch this
Smash and grabber nabbed, diamonds on the floor in Hamilton mall heist | Stuff.co.nz
https://i.stuff.co.nz/national/crime...ton-mall-heist
At least mhj management expecting big increases in share price
The earn out payment seems to have a share component and the Table on Slide 13 of the preso has indicative share prices in a year from A$1.50 to A$1.90+
Cool eh
http://nzx-prod-s7fsd7f98s.s3-websit...166/392882.pdf
Market not too impressed with acquisition so far is it
Mhj prepared to pay 5.6 times ebitda for Bevilles
Much higher multiple that what they trade themselves
Sort of says they think their shares should be over 2 bucks
Heck
The acquisition is a million times better than buying the bankrupt jewelry chain in the USA during the GFC storm. Rational for that one was, ‘this is a great opportunity to quickly enter the US market’. Good one…
Reading the presentation linked (thanks winner) the rational for this acquisition looks solid. leaving no consumer surplus on the demand curve. I like the target of increasing current store count from 26 to 80-100 over the next 5 years. Some room to improve ebitda through synergies and utilizing MHJ head office functions.
Obviously not going to be the last little bolt on acquisition.
Trading dirt cheap multiples with a 11% dividend yield. we will see multiple expansion if management execute and if you look at their track record I am certainly happy to be on board this train while collecting a nice divvy waiting for the re-rating.
The next 5 years pretty exciting aye with organic growth and clearly going to be more bolt on acquisitions. Best type of growth