A month away and all will be revealed - will the chooks be clucking or chucking?
Well I think this indicates they're a least going to meet guidance for the financial year. As Roger mentioned the forward guidance will be the interesting part.
From Investor relations 28/05/17, bog standard reply in regards to Ogden... still nice to see my "no news is bad news" bait being taken.
Financials for the year ending April 30 would surely be well known... conviction is still there for me.
Hi XXXX
Thank you for your e-mail.
Having valued his tenure at Tegel, James Ogden has sought to balance the number of board roles and other responsibilities which he wishes to concentrate on. James worked very hard as Chairman of Tegel and was very much focused on the IPO process from the very early stages in September 2015 and seeing the company through listing on the NZX and ASX. We are very grateful to James and the work he put in.
Tegel has a leading market position and is number one across all branded poultry product categories in New Zealand. We have an established and growing export business and have well recognised products across a range of categories.
We look forward to presenting our annual results to market on 27 June.
Kind regards
XXXX
PS I understood the proverb to be “No news is good news”.
Chicken prices are near 10-year lows. FY18 might see a gradual recovery in prices as inventory issues resolve slowly as both major players, post listing, start to behave a little more rationally in their NZ duopoly (Tegel & Ingham are c. 85% of the NZ poultry market). Tegel could easily make $40m npat if that scenario plays out and with better sentiment (i.e. all the disappointed ipo punters have sold out for $1.05-1.20 a share) the share price might recover towards $1.50 as the expectation of higher npat and dividends takes hold. Essentially the float was priced too aggressively and they look to be at least a year behind their IPO forecasts but if they start to look like they can deliver 10% npat growth then the sentiment/share price could recover quite quickly...
Did they email you this? Why didn't they say this in their announcement then or in response to nbr??
I am guessing they didnt have a gathered response to the departure for the market announcement and talking to the press would make it seem like a big deal...
I am guessing they didnt have a gathered response to the departure for the market announcement and talking to the press would make it seem like a big deal...
LOL at them saying no news is good news. I love how much Tegel talk themselves up despite losing shareholders 35% in capital in one year. I still think it's fairly priced at the moment but I'm not buying anymore than a few thousand shares until they give me a bit more confidence
From Investor relations 28/05/17, bog standard reply in regards to Ogden... still nice to see my "no news is bad news" bait being taken.
Financials for the year ending April 30 would surely be well known... conviction is still there for me.
Hi XXXX
Thank you for your e-mail.
Having valued his tenure at Tegel, James Ogden has sought to balance the number of board roles and other responsibilities which he wishes to concentrate on. James worked very hard as Chairman of Tegel and was very much focused on the IPO process from the very early stages in September 2015 and seeing the company through listing on the NZX and ASX. We are very grateful to James and the work he put in.
Tegel has a leading market position and is number one across all branded poultry product categories in New Zealand. We have an established and growing export business and have well recognised products across a range of categories.
We look forward to presenting our annual results to market on 27 June.
Kind regards
XXXX
PS I understood the proverb to be “No news is good news”.
Nice of them to give a reply but not nice at all of them to try and hoodwink Joe Public with the BS on James Ogden resigning.
What an absolute load of garbage to come out with that line about James wishing to concentrate on other board roles! If that was the case, that would have been stated when he resigned AND James would have provided notice for an orderly exit.
If James resigned for the stated reason with the way he left immediately, I would have to say that he has well and truly lost credibility in a big way.
Begs the question what kind of fools Tegel must think the investing public are - maybe not surprising given they managed to hoodwink with an IPO process with financial forecasts which bear no resemblance to reality!
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Originally Posted by Balance
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