Thanks for the insights Percy, wish I could have made it down there.
Good to see they 'eat their own cooking' as such :)
Any whispers or hints as to progress finding Aus site?
Cheers Percy
Sauce
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Yes,
very much Melbourne/Victoria.They hope to make announcement within a year.Warren Bell who is realitively new to the board,spoke of his involvement with Halinsteins/glasson who have a large foot-print in Victoria and NSW.He pointed out labour costs,overhead costs were a lot higher in Aussie.Unions were harder [my words] .He pointed out the size of Aussie market.RYM appear to have considered their "model" very carefully.
I only just arrived in time for the meeting,was way down the back,with a very noisy bar fridge making hearing Simon Challies clearly very difficult ,so missed a lot of the finner points.I have heard Challies clearly at another meeting,so was dissappointing to miss the meat.With so many people there I did not wait round to speak to any-one.The chairman spoke well.
Good stuff. Thanks for your feedback from the AGM, like others I wish I had time to get down there. I am hoping to attend the Shareholders presentation being run next week by Gordon Macleod CFO at the Edmund Hillary Retirement village. Would be a good chance to meet him and for one bean counter to pick anothers brains and get a better understanding of the operations. Toured through that village before, is a real classy facility. Anyone else planning to attend ?
My broker sometime ago told me margins and profits are much lower in Aus. NZ is where the cream will always be. Good to see their methodical approach in Aus.
Geez is the market a tough place to be or what. Ryman down to $2.50 today when the market finally went up. They've confirmed at the AGM current trading is up on last year and the previous comparable period was a top result so go figure today's SP performance ?
Roger,
Did you get to the presentation?
I do not think so,as MET share price has not been affected.I think it is the settling down of the placement Craigs did to retail investors of the Tainui holding.I would think that would take six months to a year to bed down.
The Summerset Group float will be interesting as they are a very fine company.With the ageing population,there appears to be a need for huge numbers of retirement villages to be built, so plenty of room for the good operators..
I drove past Aidenfield yesterday and noted a lot building going on at this Halswell Ryman village.
Unfortunatly not, I've been buried under a pile of paperwork a mile high, (busy time of year for accountants), which is why I havn't been on here much lately. Have to keep working hard to cover my losses in the market and try and keep smiling :) Running to stand still, know the feeling ?
Know the feeling very well.Have put my retirement off for 35 years.!!!!!! What is pleasing however is my divie income is increasing each year,no matter where the share prices are.Also pleasing is the strength of NZ companies' balance sheets,with most carrying very little debt.