Chairman packs a sad and steps down later this year ...... and share price rockets up 7% ..... like it
Maybe the market believe this bit “I remain an enthusiastic, supportive and acquiring shareholder and see FY16 as the year the Veritas Group shows the potential it has through the performance of the four business units, after the recent settling in period”, said Mark.
What a load of PR crap. Biggest Rat jumping ship before it sinks would be how I'd call it. How long before they're for all intents and purposes effectively trading at the behest of their bankers ?
They probably had to articulate their plan to keep the bank happy. Yes potentially believable BUT with a market cap of only $30m and with very high level's of debt this company is highly leveraged and vulnerable.
PE is about 6 if you accept their 2016 forecast at face value...seems low but is probably about right considering their chequered track record. They are vulnerable to any deterioration in economic conditions as people will eat fancy food and drink less if there's less disposable income. Recent activity suggests Mad Butcher chain is vulnerable with higher cost structure making it not especially attractive for franchisee's. A risky punt at the current price in my opinion. You like horse racing Winner, maybe this is punters paradise for you
"I'm extremely disappointed with the share price performance because it's not driven off any good fundamentals. A lot of the reason the share price has come back has been stories in the NBR and that type of thing." - Acting chairman Tim Cook
"I'm extremely disappointed with the share price performance because it's not driven off any good fundamentals. A lot of the reason the share price has come back has been stories in the NBR and that type of thing." - Acting chairman Tim Cook
I think missing earnings forecasts is pretty fundamental. I can't believe they would blame the nbr. They will be blaming sharetrader next. laughable.
I think missing earnings forecasts is pretty fundamental. I can't believe they would blame the nbr. They will be blaming sharetrader next. laughable.
Yes it sure is. Bottom line as we've discussed before, they overpaid for the Better Bar Company and woefully misread the implications of the lower alcohol limits.
Blaming the media for their problems is pathetic. I wouldn't mind betting a beer you're glad I talked you out of this pup
But one thing is true..its because of them the meat price is reasonable. I never pay high price until its on special. Once I went to Chch, I was shocked to pay $40 kg for lamb. Here in Akld I never paid more than $15 kg.
But one thing is true..its because of them the meat price is reasonable. I never pay high price until its on special. Once I went to Chch, I was shocked to pay $40 kg for lamb. Here in Akld I never paid more than $15 kg.
I find a bit of the opposite. Have found the quality of the meat is pretty sub par, lucky that there are some excellent local butchers who provide good quality cuts at a similar price. Be aware that the pork that the mad butcher chain supplies does not come from NZ farms.
Bookmarks