They obviously not offering to pay it back ...so still in retained earnings ...to be paid to shareholders next year ..just a timing issue
Printable View
The Group ended the 2020 financial year with a net cash position of $168.1 million, as a result of strong working capital management and robust trading conditions following the first seven week COVID-19 lock-down period. As the Group returns towards a more normal level of working capital, the net cash balance has reduced to approximately $80 million.
Probably filled their stores up stock (and/or paid their bills)
Bargain hunters out late in the afternoon
It recovered quick
Sometimes in business,or investing you must ask the question;"why bother".????
Should you come up with a good reason then invest in WHS.
Otherwise look elsewhere.
If you are looking for divie,then there is no divie,then you are back to the original question "why bother".?
I went to the Botany WHS yesterday over the years it was difficult to find a park near it as it was a holidays shopping destination now it’s just a shadow of its former self, haphazard merchandising, sparse shoppers, overstock of general cheap tat
Percy's called it, why bother ? Hundreds of staff on over $100K, dozens on more than $250K, several on more than $1m and the top mutt on over $2m, directors,...all happily being paid while WHS cancels both the interim and the final dividend.
I don't know about others but this outlook statement and conditionality around FY21 dividends does not give me much confidence either
"Given the loss prior to the wage subsidy, as well as the continued
uncertainty around economic activity and trading outlook, the Group Directors
have decided not to pay a dividend for FY20. Subject to trading over the
critical Q2 period and any further alert level restrictions and adverse
economic impacts of COVID-19, the Group hopes to return to paying dividends
in line with its Dividend Policy for FY21."
Hopes is a very different term to one such as "we are confident that" or some such other phrase.
WHS has become the go too scapegoat for greedy self serving sanctimonious politicians to try and extract some political capital...anything to make them look good by giving a very average company a damm good kicking.
Percy's right...why bother ? I sold out today for a very small loss. Its a very healthy thing to get a slight blood nose with one's investments now and again, helps avoid getting too over confident. The truth is there are retailers that are operating vastly better business model's than this tired old brand and prospects at HLG are vastly better going forward in my opinion as is the yield. People like Tim Glasson and Rod Duke have earned the respect of the investment community whereas some of the senior executives at WHS are being grossly overpaid for their extremely poor performance.
Goodbye Warehouse, once bitten, twice shy.
All those people on their high moral horses saying companies shouldn't take the wage subsidy :rolleyes:
Wonder what the resident Snowcat would say ?...probably something like "there's no point crying (howling ?) over spilt milk"...Beagle knows every now and again there's the possibility that not every single rabbit hunt will result in a feed. The trick is to give up when its clear the hunting is simply too much hard work for really slim pickings. Gotta get back up, shake the dust off my fur and get back to the hunt, chasing food elsewhere.
The big loser is going to be all the charities and community activities that the Tindall Foundation support
A lot less to hand out this year ....many tens of millions less
Maybe Stephen now regrets the appointment of Nick Grayston