Circling back here. https://announcements.nzx.com/detail/404808
A bit sneaky dropping this on the 29th December, when they've done the update on the 7th of Jan last few years.
Must be real bad.
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Circling back here. https://announcements.nzx.com/detail/404808
A bit sneaky dropping this on the 29th December, when they've done the update on the 7th of Jan last few years.
Must be real bad.
Not good.
If only this wasn’t painfully obvious ages ago.
The WHS thread together with the retail thread over the last year make for rather interesting reading.
Really bad
H1 Gross Profit $s about the same as pcp but CODB up $25m means PBT down $25m
H122 PBT was $68m so H123 about $43m
Disaster stuff
Off course most people are on holiday so you wont see an immediate reaction to the share price but it deserves to go under $2. What are the forward prospects?? Like I've said over and over they need to abandon themarket.com that's a huge drain on the overall profitability of the group and there is zero upside to come from that after years of over investment in the platform. Its 2023, any retailer worth their salt have their own selling platforms, why do they need to be with an aggregator that's going to cannabilize sales at a huge commission.
Mr Orr will be happy that his medicine working ...leading indicators are looking ominous ...which shud be actually good for sharemarkets in next few months ...let market catch up with this theme ...it takes time to wake NZ market participants as they keep looking for clues from overseas without realising that our rates started going higher much earlier then others so we shud be reaching inflection point sooner ....June onwards it will be clear to all ...imo
Guess its not a counter cyclical staple.
Didnt get to 5 bucks last xmas and certainly didnt hit 7 this year either.
So H123 sales going to be about $110m more than H122
But after all that effort they make $20m less after tax ...$26m before tax.
Increased sales impact $38m additional margin all gone from reduced margin %. That much improved margin they gloated about over last couple of years all gone.
And then costs up say $25m
Npat will be about $30m ...not much eh
Reduced margins and increasing costs not a good combo
Lower NZD chickens starting to come home to roost? Feeding through to higher COGS (hence deteriorating GM).
SMT will be keeping their fingers crossed that the rebound in the kiwi (from Oct) continues.