Last decent sell side volume got taken out this morning...
Bugger all sellers left.
When is the next big insurance payout. SP be over $1 soon
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Last decent sell side volume got taken out this morning...
Bugger all sellers left.
When is the next big insurance payout. SP be over $1 soon
They were paid $10m very recently for further recovery costs.
Regarding the larger claim, best to read page 3 of the speeches to the AGM:
The larger claim relates to the material damage to the Napier plant, building andstock on hand. As you can see, and as advised in our Annual Report, we are insuredfor up to $49.4m for the building, $116.1m for the plant and $3.8m for stock on hand.
etc
https://announcements.nzx.com/detail/422427
Insurance is going to make this take as long as possible, even giving them a much lower figure and then having to negotiate over it. Thats a huge amount of money and the more time they hold onto it the more extra money they earn on it unless its coming from re-inruance with another company, then you're having to deal with an insurance company who is also dealing with an insurance company and it takes forever for the very same reason mentioned.
the cockies probably are looking for an increased chop of the action to offset cost of taking the wooly stuff
off the backs of the sheeps :)
Bremworth might be extra cautious going forward and keep the hoard buried at a reasonable depth
in more turbulent times going forwards
Let's face it - no real need to jack the price up with large dividends, no need for a Cap Raise either ..
It might be more of the same - 'suck eggs' on any sort of respectable payout for stakeholders while the
show meanders onwards.. No sense in clearing out the coffers to have to borrow it back for operating capital at hiked up interest rates either..
A bit disappointing so far given all the thousands of extra homes built and very little tangible hitting the
bottom line, aside from extraordinary gains .. with plenty of painting large glowing pictures of things to come ..
What sort of story is likely to be being reported this time next year ?
Much interest here in taking out the whole Wooly show at near current reported NTA, not paying a Div and really just replacing it's past Capital seepage with extraordinaries in recent times after liquidating some of the real estate to fix the balances in the books to more respectable levels for further adventures into the unknown ;)
Yeah Na. Market caps only 42ml and its trading at NTA. That leaves a buck here and there, preferably here.
Bremworth opens Auckland retail store
"Smith said the opening of the store was designed to help Bremworth diversify into a growing segment of the market and address the complexity that could be associated with rugs."
https://www.nzherald.co.nz/the-count...PRPO47MICV6GA/
Now we get an idea where the surplus dough is going:
Some might have a few ideas on what can happen when a non-Retail Manufacturer goes vertical, particularly in more volatile times descending into retail with all sorts of grand marketing hopes.Quote:
Bremworth said the “prototype brand experience and retail concept store” would expand throughout New Zealand and Australia - if the trial proved successful.
Let's hope the trial doesn't turn it's tail up later down the track if the tide turns on the concept after it gets a green light into an expansionary mode.
What will BRW's other wholesale customers be thinking of this ?
Will the Aussie owned competition - Godfrey's also follow suit or will they be too busy frying larger fish to be bothered with the troublesome small stuff sizing out custom rugs ?
Is this BRW's answer to not making all the anticipated hay while the sun was shining with all the new builds and then what should have been a follow on avalanche of repair/replacement jobs out of the weather disasters ? ;)
What have BRW been up to to miss out on all the extra action in recent years ? ;)
Sure some of the plant might have been out for a swim or clean up, a bit of disruption, but incoming raw material has never been cheaper, and the market should have been there ready to gobble up what was coming out the other end too ..
Were the phone lines on divert to 'Phone an Aussie for pass the job over' while everyone was busy drawing pretty pictures of what Custom Rug Surgery at a Retail level in Auckland looked like ? ;)
Excellent margins in rugs.
Management team relatively new with a plan.
Pivot away from synthetics into wool.
Enough cash to see what the new business looks like and pay us all a special dividend of $0.60!!