Simple but sage words - "companies who do what they say they will do"
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I agree Jeremy the sentiment seems irrationally negative. I've no doubt they were too aggressive in their IPO forecasts but thats why I avoided them at $1.55+ (don't get me started on the appalling float process re the price either). However, chicken prices are at 10-year lows which is a material change from when they floated and the company will still make $30m+ npat - if they don't deliver that then they'd be more than 10% below their recent and reconfirmed guidance and everyone would have cause to complain loudly. So at $30m+ we have a company at 12x earnings selling a product at a cyclical low in pricing (opinion obviously on actual cyclical low) and quite low balance sheet gearing.
I am now long at $1.13 and think we can see 40-50% upside over 2-3 years plus a fully imputed 6%+ yield - I like the odds at this point despite all the negativity. I'll be looking at the result closely and may change my view but thats investing...
1. Chairman of company resigned abruptly with no explanation in May 2017.
2. Company wrote in response to one poster that he resigned to 'balance' his board positions and other responsibilities.
3. Chairman told another company's shareholders he resigned due to 'angst' over profit forecasts - 5 months after profit downgrade (Dec 16) and 2 months (May 17) after balance date (when results are presumably known and being finalized).
2. and 3. do not compute.
Ironically, this is what Mr Ogden had to say about the appointment of a full time PR executive at Tegel :
Chairman, James Ogden says Ms White's extensive investor relations experiencewill greatly assist the organisation with its focused growth strategy.
"We are looking to grow our business domestically and in offshore markets,"says Mr Ogden. "Aleida's local and international experience will greatly
support these goals and
strengthen the provision of information and relations with our investor community."
*************
First real opportunity to engage with the investor community re sudden resignation of Chairman and she FAILED BIG TIME. Sp fall is testimony to that gross mismanagement.
She and Tegel must think that the whole of the investor community are like the chooks Tegel slaughter by the millions each month. Or is it a case she thinks everyone is a headless chook?
I have a few of these. OK the IPO was a flagrant money making exercise for the promoter. Overpriced at the IPO price, but still this company does produce something, and does it fairly well. At 1.05 I feel it is worthwhile sticking with in the long term. Just wish they would become more principled in their outlook. The Directors should forget about the shareprice for now and concentrate on building a worthwhile company, and get rid of more debt and write off more goodwill. Incidentally chicken prices may be a t a low but not for long. My wife and I had Carls Jnr last night, it cost us $29-90 for two and we didnt order anything extreme. WQe talked about it and it is cheaper and probably better for you to go to the supermarket, get a rotisserie chicken, saland and some rolls. So that is what we are going to do now. I bet a lot of people are thinking the same thing.
Tegel shareprice going well today - up to 110
Looks like NZX have passed the baton to S&P to manage our various indices. Well talk about dumbing down inefficiency; i can't find any relevant info when i click on what I'm told to ;there is nothing there about the NZ mkt let alone the companies that make up the various index's!! maybe someone else more techie can but not user friendly in my book!.
try this link
it lists all S&P announcements, filtered for "NZ". Right now the current changes are the top announcment. I watched on Friday for the
announcement to appear and it appeared on the list AFTER market close! Does anybody know if fund managers or other subscribers have prior access to these announcements???
Thanks ; let me know if you can find what stocks make up the various indices e.g. NZX 50. Im done looking.