Still 100% plus up from a year ago ...not too bad
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Still 100% plus up from a year ago ...not too bad
You must have missed this post Winner. Profit grew 68% last year and they're currently trading on a PE of under 19 times forecast FY17 earnings. Profit grew 68%, (more than double the sales growth rate) on 32% increase in sales so the business model is clearly scalable and clearly isn't broken, (anything but). A simple extrapolation of last year's numbers would indicate that if sales can double within 4 years profits could quadruple ! This in a company trading on a multiple less than the NZX50 average... Hmmm...
Yes the basics are still appealing,Sea Dragon is a concern but as Roger has earlier pointed out the convertible loans amount to but 7.5CPS ,the weakness may be overdone.
Share Price should benefit in December when MPI are scheduled to release their 'Robust ,science based definition for mono-floral honey"which will further enhance the value of compliant Manuka Honey. MPI have been toiling away on this with Comvita input since December 2014. It is a big deal in the manuka honey world which is riddled with non genuine and counterfeit product.
CVT to the best of my knowledge remains the only Manuka honey play available on the NZX when the genuine product is subject to MPI certification it will assume an even stronger premium and CVT will benefit.
I hope this will help reverse some of the colony loss globally ...
https://www.theguardian.com/environm...e_iOSApp_Other
How long does raw honey (before processed into finished stock) last?
Comvita had $54m worth as at March
Just seems an awful lot - even more than at last September when they said they had purposely built up stock .....so still building a stock pile?
I understand that they find in the Egyptian pyramids sometimes honey which the ancient Egyptians gave their pharaos on their way into afterlife. I understand that the honey survived the travel through the millennia much better than the pharaos. Actually - it is still (after 3 or so thousand years) good for human consumption. Given that, I wouldn't worry too much about raw-honey going off.
Have a dim recollection of being told that the longer you store Manuka honey, that the higher (& more valuable) the UMF factor
With regards to theft of hives etc, you will be interested to know, that several years ago, as part of rehabilitating our young inmates on central north island prison farms, that they were trained in the art of bee keeping, in the hope of gainfully using this talent on their eventual release.
Yep they obviously adapted this talent for their own gain. ( The law of unintended consequences )
Honey never goes off.
100% correct.... http://www.analytica.co.nz/Tests/Hon...ast-MG-NPA-HMF
Years ago, before this was scientifically verified, a number of packers realised this from their own observations which created a arbitrage opportunity when procuring drums of manuka. They could buy honey off the beekeeper at a certain UMF level for $, knowing that in ~12 months time it would be worth much more. The partys all over now...
Yes it does. It can ferment and degrade. Also UMF will increase when stored in warm conditions but peaks after a while and then diminishes. When "growing" it you have to be careful about the temp you store it at, as there are ways to measure likely growth peak and subsequent degradation.
Discl: Have industry experience
They've hitched their wagon to Sea Dragon, I think that should give shareholders cause for thought. It could be big, or bust. Factor that in to your analysis.
All this UMF talk
I had to google what UMF was - you learn something everyday
As a consumer I've often buy Manuka Honey and haver ever noticed any UMFs on the container but then I never have really looked. If the container says Manuka it must be manuka,
The Arataki tub in the cupboard says UMF 5+ Active - according to the scale that's not very good at all (low levels one website says). Maybe the active makes up for it? At $30 for 500gms I feel ripped off big time
A BIT LATER - I see the Comvita table honey is a blend with a UMF 5+. On line 35.50
Maybe 5+ is as good as it gets for putting on toast
Maybe someone got spooked and decided to sell down? "China tax hits kiwi firms". Comvita and Trilogy mentioned.
http://www.nzherald.co.nz/business/n...ectid=11683336
Discl. holding
CZZ on asx sold its share of the JV to CVT, how come it's not announced on nzx?
Article in today's herald on manuka honey. The good news... Manuka honey’s potential to defeat a scary superbug may give it another competitive advantage, but the bad news ......the varroa mite is becoming less sensitive to chemical miticides therefore the bee population may continue to decline.
http://www.nzherald.co.nz/technology...ectid=11688105
Disc. Holding
honey is not the favour anymore? heh
This gentleman is unhappy about Comvita.
http://www.stuff.co.nz/business/farm...uppliers-mouth
Just another version of old news ...or somethig new?
http://www.stuff.co.nz/business/farm...edia-spotlight
As a consumer i reckon manuka honey to put on your toast is just one big rip off. As the article says just buy a bog standard bush honey and save heaps.
Mind you i'm told the faceccream is pretty good value.
Yeah its always been the worst taste wise; it used to be the least valued honey.Food Manufacturers would buy it in bulk because it was by far the cheapest and blend it in to mask the strong slightly unpleasant flavour.
Yep, I've been doing that for a few years now.
All Manuka honey has the active ingredient. The "tested stuff" just has a guarantee that it has a certain level.
However, it's industry standard to test an entire batch once, and then label everything. If the results come back low, then they just retest it on another sample until it passes.
What's interesting is that you can actually pay and get a test done yourself at a lab (do a google search). I've done it once, (it's under $100). I bought a third party brand on trademe. This guy was an independent producer who claimed his stuff was really high. I got it tested and it came back way lower. It was still "OK" but was way under what he said.
The industry is full of problems and needs regulation. The UMF and MGO standards are really just marketing gimmicks. There need to be a new standard that is recognised worldwide and independently managed. This would kill Comvita share price though.
The best thing to do is buy "untested Manuka honey", but make sure it's 100% Manuka honey. Don't buy the multiflora stuff either, that's where they blend other honey and it only contains 10% Manuka.
I've found the untested "Arataki Manuka Honey" at the supermarket the best as it's 100% Manuka honey and you're not paying sky high tested prices. It's still semi expensive but it's like playing lotto. You might get a good batch, then the next week get a bad batch. Obviously you wouldn't know but in the long term it would average out. This produces the best price to benefit ratio. Just my 2 cents.
Arataki Untested:
Attachment 8244
Arataki Tested:
Attachment 8245
Seems like a no-brainier for the industry that they have to come up with an independent, clear scientifically based standard - for long term value for the entire industry. Otherwise it becomes who has the biggest marketing budget and promote their 'standard'. I wouldn't have thought it would be too hard, but a lot of vested interests. I guess a few must have something to hide/lose and be doing something dodgy - otherwise would be into it.
The problem isn't the scientific method. It's how the results are presented to the public.
It's kind of similar to the financial ratings industry, where you have Moody's, S&P and Fitch Ratings. They are all using the same method but they all represent ratings differently. For example, Aa1 vs AA+
With Manuka honey they're just measuring the non-peroxide activity. All the UMF system does is convert it to a readable number, while the MGO system measures the methylglyoxal compound but it's scientifically the same thing. The third party producers do the same test, but label their honey different, normally they say 30+, or 20+ "Active", which looks similar to the UMF standard but doesn't contain the words UMF (which is the patented part).
Comvita have done a really good job promoting their rating system that it's kind of became the defacto system. The label "UMF" has become a generic trademark. It's a similar problem that Xerox had in the 1970's when everybody started saying "Xerox" and they were in danger of losing their trademark.
Comvita have to be careful because they need to protect their IP but also balance the market and enable fair competition. What I think should happen is that Comvita should be forced to allow others to use their UMF system for a small reasonable fee. At the moment they won't allow anybody to use it. Third party producers should be able to use it for a reasonable fee that's been set by the government. This would probably hit Comvita's share price in the short term but it would be the best for the industry long term.
Ogg, you obviously have a fair amount of industry knowledge, yet quite a lot of what you have said in your last two posts is incorrect or similar to the misinformation that you claim to be debunking (particularly the reference to Arataki's manuka honey in post 332). It is my understanding that Comvita are very keen for everybody to use the UMF standard.
By way of disclosure I have recently become a Comvita employee after contracting to them for a number of years, but in no way am I speaking on behalf of the company.
There are some licensed UMF agents. Comvita are keen for everybody to use it at the "right price". The price is so high that most don't use it. There's nothing wrong about this as it's their right and their IP. The problem is that the general public are being mislead and don't understand the system. It's a huge competitive advantage and it's now became an antitrust issue.
I've never worked in the industry, just done alot of research online.
I don't have anything against Comvita. It's a great company...I'm just bummed I didn't buys shares at $4. :mad ;:
I would suggest that "most don't use it" because it suits their purposes, not because of expense. By not using UMF or the MGO scale they are angling to obtain a premium for low grade honey by fudging what it really is.
Again my views are are my own and not that of the company.
Ok, I have a fair amount of industry knowledge around this so I'll try and set a few things straight.
The UMF grading system is not Comvitas, it is managed by the UMFHA http://www.umf.org.nz/. Each member is charged a few k in levys a year, the majority of the honest (and some of the dishonest) players use this system.
The lion share of all manuka testing is now done via Analytica Laboratories who have pioneered (with aid of UMFHA and govt research funding) a number of validated tests to identify what 'manuka' is (c.f. Kanuka, Australian Honeybush etc) and how it can be graded. In concert with UoA they have developed the handheld device mentioned in the article. http://www.stuff.co.nz/business/indu...honey-launched, the market for this device is not really identifying fakes, but more for production control.
So the 'industry' has been working pretty hard to get a standard established, the biggest ones at fault are MPI. When this broke https://www.mpi.govt.nz/food-safety/...oney-products/ the Chinese CIQ gave MPI at absolute earful, there is now a real risk the Chinese will ignore any NZ based standard for Manuka honey. The most recent release about tightening up import standards are also as a direct result of this.
As for Mr Bray..... he has a vested interest in ensuring that the pollen analysis continues to incorrectly classify Kanuka honey as Manuka (since Kanuka is the majority species over the SI).
So all this weekend discussion is just 'noise' and won't have any effect on the CVT share price?
Life goes on and CVT will still sells heaps of product and make ever increasing profits which will result in a higher share price and bigger dividends
Results announcement tomorrow - that bee exciting
Neighbour asked me when will share price get back over $12.50 (their buy price) so he and his mates down at the bowling club can feel better
I said soon - just be patient mate and don't get tempted to cut your loses again and go and chase the next sure thing. Term deposits not getting any better he reminded me.
Yes, for quite some time now I've thought about having a plaque made up along the above lines in my office. A very large dose of patience an essential ingredient for most investments.
The UMFHA is run like a cartel. It's a private organisation designed to protect the global monopoly. Comvita are like the Godfather controlling everything as they provide most of the funding. They pretty much own it.
It's like giving a private organisation the power to issue food safety certificates to restaurants and bars. Just imagine having Mcdonald's setting the food safety standards in New Zealand. Of course this is going to disenfranchises others and is open to dishonesty to maximum the profit and eliminate the competition.
This is what happens when a commodity all of a sudden becomes valuable. Just like Standard Oil in the early 20th century, Comvita have vertically integrated the system, along with the regulatory framework and legislative oversight. The current National Government will most likely support them because they create jobs which fuel their political agenda. If New Zealand was a third world country, Comvita would have been nationalised by now.
These are all rumours and gossip, but when you join the dots it's easy to see a system that's open to corruption and needs regulation.
The share price is headed to $20+ over the next year IMO. The only thing that can stop this behemoth is the government.
The share price is headed to $20+ over the next year IMO. The only thing that can stop this behemoth is the government.
Jeez $20 plus
Roger and others will like that
We're going to need a share split, say 10:1 :)
I got in today at 10.59.
Regardless of weather the industry gets regulated it's going to head higher.
I'm hoping for a solid report tomorrow and more hedge funds should enter and push it higher.
A 10:1 split and a dual listing on the ASX would be nice.
Good luck to everyone.
it's out...had a quick look.. profit is very good.. debt could be an issue..
Solid result, gearing up for GROWTH !! :t_up:
Gee - couldn't help noticing that between March and June raw material inventory is up ~$11m and debt is up ~$25m
Stocking and gearing up for growth they sure are
The bowling club guys will be happy with the bigger dividend
How the hell can they burn through $50m of cash in 15 months? Even operating cash flow was negative $32m
Almost xero-esque proportions
And down she goes! :(
I remembered broker suggested to get in around $12 ish...
Is it the right time to buy?? what u guys think?
I have bought (some more)
uhmmm..quiet pricey eh..consider USA presidential race in 8 weeks to go....
Could also be response about an article that manuka honey a scam recently. From UK? Didn't pay much attention to it.
I bet it will finish green for the day :D
Great company but people have been paying silly money to buy it. Share price got way ahead of itself, not surprising it is showing weakness
I was interested in CVT due to the growth & story behind it
2014 revenue up 11%, inventory up 35%, positive operating cash flows
2015 revenue up 32%, inventory up 65%, positive operating cash flows
2016 revenue up 32%, inventory up 114%, negative operating cash flows, and debt up substantially
hmm... all for the great growth opportunities, right?
uh-oh W69, you may need to invest in a disguise to sneak past your bowling buddies when they're out mowing their lawns :scared:
Okay on a deeper look it appears there may be some growing pains.
Debt blowing out the way it has is a concern in tandem with other matters, see below.
Stock has blown out from $44.5m, (6.6 months cost of sales in 2015 which is a stock turn of less than 2) to $95.2M or a little disturbing 10.1 months cost of sales as at 30 June 2016.
After a Herald report some time back where the CEO was reported as saying sales were not being affected by Chinese authorities regulatory changes, its now clear they are.
EBITDA margin's have contracted from a healthy 18% as at 31 March 2016 to 17.1% as at 30 June 2016, quite a drop for adding on only 3 months of quiet season sales.
Sales for the current quarter were only $28.6m and EBITDA margin on those modest sales was only 10.6%. I guess you expect that when sales overall are quieter for this quarter but nonetheless it is a little disconcerting looking at that quarter in isolation. This in tandem with stock blowing out dramatically suggests management were "behind the curve" with their earlier comments on the Chinese situation. Why ? Reports of some suppliers being disenfranchised by administrative shortcomings could possibly have some substance to them if management can't even ascertain at the time that the Chinese situation is affecting them ?
The stock turn is now very poor and quite a contrast to other retailers, (acknowledge CVT is more than a retailer), like Briscoes or HLG -possibly a little disingenuous for me to compare to other box retailers but nonetheless its makes quite a stark contrast. The sea dragon thing is thorn in their side, albeit something that has potential and only worth about 7.5 cps.
After a huge run I think the market will need to see evidence that growth isn't going to be impacted much by the Chinese situation and see them improve their stock turn before we see the SP reestablish an upward trajectory. They also need to fix the fiasco that is Sea Dragon. Plenty of work for management to do. Disc: I have reduced my stake and expect a period of consolidation around current level's.
Lack of a share split disappointed me. P.S. Very strong $Kiwi won't help FY17.
Still unquestionably still one of the great NZ stories - question of what price you pay for that story.
The high inventory can be partly explained by : "at a period of peak supply, as most of our externally sourced raw honey is received between March and June".
$10 is a nice round number so technically probably will provide solid support for the share price
Question - what 12 month profit you guys using to assess the EPS and PE (seeing the reported 45 cents is for 15 months)
Roger 9:47am "Solid result, gearing up for GROWTH !! :t_up:"
Roger 12:27pm "Okay on a deeper look it appears there may be some growing pains."
Just like weather watching in Auckland.
Hi All, a newbie here! Friend Zouga referred me to ya' all. Have been an NZX dabbler for a very long time including only recently in Comvita a co. have known for a very long time from when I was a young rower and would bike out to Paengaroa to buy bags of bee-pollen to add to fuel of a 6K calorie a day diet! As others here say it is a amazing story with Claude on bee-pollen too nearing 103! When I visited here several weeks ago with in mind to judge views before taking out a significant holding relative to myself I was quite concerned with views here. So I emailed and had both email and phone correspondence with Scott Coulter. Like others here a concern was their holding in Seadragon with more for me the ethics of being involved with the NZ fishing industry and destructive to marine ecology by bottom trawling and targeting of shark. He advised that they immediately advised Seadragon they were not comfortable at all with shark fishing for Omega-2 resulting in pressure now removed from that fishery, to now concentrate on Omega-3 alone. Scott said that they are steadfastly orientated to the ethics in business that the company first started with from the days of Claude and Allan from 1974.. They do (from memory) 97% recycling. My impression was that the plan is very good: Plans cost money (refreshing stores; securing suppliers)! The 15 month statement today supports that: Seadragon is just a small component, a small plan, of a wider intention of broader diversification to even out the sine wave of sales in the annual cycle. China requiring registration etc plays into hands of large incumbents which is what Comvita is, they will win greatly from this Chinese regulation! Disclosure: After talking to Scott I bought my 2nd biggest purchase in 15 years! Yep, I believe those saying "20" are correct! I just love this Kiwi company.
I know its hard to believe that some of us are in business and have a lot of time pressure on us and don't have a lot of time at certain times of the day. When time allowed I had a deeper look at the issues. It is a solid result but there are growing pains, the two statements are not mutually exclusive :rolleyes: DYOR
Takes a big person with solid experience and objectivity to acknowledge first look is different from a proper look.
Bit like seeing a sheila with heavy make-up in an Oz pub at 3 am and then, looking at her again at 7 am when the sun is up? :D
CVT is a great company and has delivered solidly for the last 2 years after a flat 3 year period before that.
I suspect the market is going to be monitoring the company very closely to see if the company is experiencing another flat period of growing pains.
Looking at the chart again that $10 mark has been a telling mark in the past. acted as resistance for some time before bursting through ...... now should as act as a very strong support level
Its even below the 200MA but what the heck I'm in to see what happens - with a pretty tight stop loss. OK I know i should wait until the crisis is over but now is as good as ever I reckon
Yes a sweet company that's also on a journey that's just bee gun but one is wise to put in place a strategy that avoids getting stung :)
Purely a trade and of course I'm only for the dividend and not to make a profit per se - but an interesting company
Can't get my head around the financials though -especially the cash flows. I have only looked at 2013 onwards and note the following -
- Each of the last 4 years free cash flows (excluding acquisition costs but including PPE etc) have been negative
- These negative cash flows total $62m
- In addition they have spent $24m on acquisitions / investments (Sea Dragon etc)
- But in spite of negative cash flows in the same period they have paid out $22m in dividends
All funded by increased debt of $58m (from 2013) and new capital of $44m
Suppose they know what they are doing but cash flows over 4 years of $86m (and paying out $22m in dividends as well) seems an awful lot.
How long will such spend continue? Hard to do any DCF valuation on this.
Seems to have worked okay for Xero. Can't grow strongly without some cash burn. Yes they've raised equity and debt but they've also entered into new JV's and made substantial investments in infrastructure, supply, senior personnel, research and development and have ample stock to grow, (stock shortages have been an issue at times in previous years).
Main thing is sales and EPS growth, if they can keep that going and turn all that stock into cash they'll be fine in my opinion but I do think the market will need to see evidence that the situation in China isn't affecting them materially. The flip flop of saying we're not affected and then admitting only a few weeks later we are didn't impress. They now talk about new strategies in China to mitigate the effects of the Chinese regulatory situation...I don't want to hear about attempts to mitigate sales declines I want to hear about GROWTH ! Hounds by their nature are impatient creatures.
Best stay away from the bowls club for a while mate.
Not many punters wanting to give them away this afternoon - need to see what happens tomorrow morning
Else might have to bump the price up -- ouch
http://www.wikihow.com/Treat-a-Bee-Sting Bee careful mate, tide seems to be on the wane right at the moment. Some homework tonight for holders just in case tomorrow is another stinging day.
I would be careful trading this one. Volumes have increased the last year or so as all you johny come lately types latched onto it. However at its heart it is still a very iliquid stock, any bad news and it would be very difficult to sell on witout a big jump down.
Less than 4 weeks ago http://www.nzherald.co.nz/business/n...ectid=11683336 ExtractNow hands up who thinks the herald accurately reports exactly what is said at all times, (sometimes in my experience), but anyway you be the judge if you think that gave a somewhat disingenuous view of whether the Chinese regulatory changes were having an effect or not.Quote:
Comvita chief executive Scott Coulter also said the changes weren't affecting the company's overall sales.
I gathered the impression, perhaps incorrectly that there was no material change or effect on Comvita...obviously that's at a divergence to what's been said in the annual result commentary today.
On a strict interpretation what he said could be said to be technically correct, overall sales may not have been affected much because of growth in other regions but the regional sales to China obviously have been. Perhaps he could have been a little more forthcoming in what he said on 29 July ?...I am a little disappointed he wasn't.
Agree with Ratkin, volumes can be slim but would have been improved by a share split...oh well...another time perhaps.
Exactly my thoughts Roger whilst reading the outlook re. China concerns this morning. There seems to be a u-turn on what was said in the NZ Herald statement to what was said today in the announcement. Correct me if I'm wrong, but "not affecting the company's overall sales" is not at all the same as emergence of "uncertainty in the re-export market distribution channels". This extra doubt/risk is then said to be "reduced" through redirection of productions through alternative distribution channels. Pretty conflicting statements that have a lot of room for interpretation eh.
Any new regulations disrupting existing supply channels would surely have a negative impact on margins as channels would have to be reworked whilst demand and supply issues would drop off in the short-term due to any potential tax or issues in China. Also this reduction in uncertainty could be interpreted as not quite 100% reduction in harm, so there may be some hinting towards a tail off in sales and our growth.
This is a growth company which is priced on a modest multiple given its track record over the past couple of years of fantastic growth. Any hinting of negative sentiment towards the demand from their biggest market, China, where ~60% of the products end up, certainly raise some alarm bells in my head. An increase in risk/uncertainty on forward growth prospects will need additional rewarding in terms of the share price returns, which is why I suspect we have seen a drop in today's price. Also not to mention the possibility of some sort of information leak in the weeks leading up to today's announcement which was relatively strong.
Disc. - sold a couple
^ A crapload of CVT product enters China through the grey channel and will be recorded on the statements as NZ/AUS sales. I will be very surprised if the SLT is not concerned on how future regulation may affect their overall sales or at least management of their distribution chain.
I talked to a friend about this... couldn't believe that the Comvita chief executive could turn around and make such a claim, so quickly...
For me, seemingly never ending inventory build ups (that in percentages, are consistently increasing 2-3x more than revenue increases), margin decreases, concerning cash flows, dramatic recent increase in debt, and chinese regulatory uncertainty are all important things to be considered...
However what is more alarming to me, seeing this is a growth stock, is that management seemingly don't actually know there biggest market/opportunity, china, and what is really going on... making such a direct confirmation of "no it doesn't affect us" in this nz herald article 4 weeks ago, then a 'near hidden' U turn today of "hmm maybe it does affect us, but hopefully shouldn't too much", is concerning... then the fact the share price tracked down in the days/weeks leading up to results simply doesn't help...it would appear some not-so-sweet honey leaked out early
Good luck to the holders, but I will be waiting till they can confirm they understand their key opportunity/market, they stop increasing inventory dramatically more than revenue growth, show they can keep debt under control, and get back to at least operating cash flow positive
Disclosure: was very tempted, and expected/hoped to see pretty good results, instead got shocked left, right and centre
It's a brave bobby that buys a confirmed downtrend, this trusty weekly chart said "get out" the week ending July 15 and confirmed quickly afterwards, week ending July 22nd.
But it's been a heck of a good run prior so understandable that some (many?) will be sitting on big capital profits, reluctant to cut paper gains. The bounce failed three times (weekly basis) at the rising trend line support (now resistance). Todays fail at $10 support is a bad look. The indicators (not shown) are all over-sold already, but that's no guarantee of a turnaround, moreso the seller/buyer tension in the market.
Tight stops for the brave, save them from becoming the foolhardy. It could easily go lower on current sentiment, be nimble, next buyer support is about $8.23. Have a plan either way, just in case it bounces here.
Attachment 8249
Jmo, a TA perspective.
On the same boat. If only we all had as much time as winner eh? But I just can't help myself with regard to some of your posts, the sales pitch is just too much. You've been banging the strong growth (actually I think it was "sensational growth" mentioned a few months back) as well as share splits, first 10:1, then 5:1, on this one for months. Perhaps you should sprinkle some risk assessment over your honey and apples first before taking a bite? You need a bit of balance, like Balance eh?
Comvita has some great products and I still like their long term prospects but a healthy dose of caution is warranted.
Regulatory risk, not really a hell of a lot of research to back up some of the sensational claims made by sellers of manuka honey and the fact that everyone left right and centre seems to be jumping on the manuka honey wagon to riches at the moment, makes me wonder how this will all unfold. Jeez, I thought Comvita was expensive until I saw this lot.
umf-24-raw-manuka-honey-steens-250g-nz785u-front-900x900.jpg
Who in their right mind would pay for this????? Tulips anyone?
I don't buy the stuff anyone. Too expensive for too little benefit. Plenty of other good alternatives.
But all that aside, if China is really the driving force behind the sp over the last couple years, as it seems, whether through direct or indirect sales, then I'll be staying firmly on the sidelines. Things will get a lot worse when China goes 'kaboom'. I'll check back in after that.
I'm afraid Winner's bowling mates won't like my views though.......oops.
I am along term holder. They went to high when they went into a higher index. I will be adding to shareholding at these prices.have a fair ew shares. Good products ,that work and good company.
All this talk about the difficulty China might or not be putting up restrict access doesn't seem to be affecting the A2 Milk share price of late
Never seen it and since you haven't included the price I cannot really say whether that is really expensive compared to those made by CVT. But once I observed an asian lady getting all those CVT honey on the shelves at Pak N Save Porirua. All of more than 50 bottles straight to her trolley and she's still looking for more. And at more than $34 a pop then if I'm not mistaken, I say that's some big money for CVT. She was probably one of those "daigou" completing an order.
disc: not a shareholder and still reconsidering now if I ever want to become a holder after the report
oops, sorry, you're right, I copied and posted the wrong link..my bad.:p
https://nz.steenshoney.com/steens-ra...ed-250g-nz785u
$385.99 for 250g. The market for this stuff has gone nuts and I wouldn't be surprised by a bit of a backlash. In fact the Herald the morning has expanded on recent claims of 'fake' product in the UK. From consumers point of view this is bad. God knows what is showing up in China.
http://www.nzherald.co.nz/business/n...ectid=11699668
Common sense prevailed (thanks ratkin and baabaa and hoop didn't email e)
Cancelled the rest of the order - will wait for sanity to return and then reassess
Now what to do with the few i got yesterday - stop loss is 950