Ebos Limited EBO

[noodles]

From $9.25 to $10.95 in less than two months with a $0.22 (less some tax) dividend on the way.

Helps balance out the HNZ portfolio bias a bit.

Best Wishes
Paper Tiger
I know this is very much a TA thread, but it is worth noting that the reasons for the re-rate are likely for fundamental reasons:
1. Half year results beat expectations (in the face of currency headwinds)
2. An Australian competitor, API.AX, is having a great run.

if EBOS could get some Australian institutional interest, we could see it continue to out-perform as it plays catch-up with API.AX.

[percy]

I know this is very much a TA thread, but it is worth noting that the reasons for the re-rate are likely for fundamental reasons:
1. Half year results beat expectations (in the face of currency headwinds)
2. An Australian competitor, API.AX, is having a great run.

if EBOS could get some Australian institutional interest, we could see it continue to out-perform as it plays catch-up with API.AX.

I expect the Australian Institutions to wake up some time that EBO's CEO, and CFO are both Australian,based in Australia where EBO does the majority of its' turnover.
Should they rerate EBO to the same PE of API,the share of Ebos would be $19.56,which is not far from the $20 target price I have..?? lol.
It appears to me the fundaments have been driving the TA,however the way the TA is looking, I expect the buy signal from the breakout to drive the share price.!!
As our dear banned friend [sorely missed] Winner69 would say "Onwards and upwards."

[ratkin]

Is winner banned?

[percy]

Is winner banned?

Yes.
Along with BFG,BK,orBC and Hoop appears to have withdrawn all his posts.
Vince warned them,then banned them.
I missed the reasons for the banning,but can only repeat,I miss them.

[noodles]

I expect the Australian Institutions to wake up some time that EBO's CEO, and CFO are both Australian,based in Australia where EBO does the majority of its' turnover.
Should they rerate EBO to the same PE of API,the share of Ebos would be $19.56,which is not far from the $20 target price I have..?? lol.
It appears to me the fundaments have been driving the TA,however the way the TA is looking, I expect the buy signal from the breakout to drive the share price.!!
As our dear banned friend [sorely missed] Winner69 would say "Onwards and upwards."
Agree the breakout from resistance (around $10) has really put a rocket under the price. I wonder if it will revisit these levels before moving up again.

The forum is definitely poorer without Winner69. He was sure to highlight any of my weaker stocks. He would have had a field day with IQE and VIL. However, I never found his posts offensive and I can't understand why he was banned.

[ratkin]

Agree the breakout from resistance (around $10) has really put a rocket under the price. I wonder if it will revisit these levels before moving up again.

The forum is definitely poorer without Winner69. He was sure to highlight any of my weaker stocks. He would have had a field day with IQE and VIL. However, I never found his posts offensive and I can't understand why he was banned.

Will be interesting how much going ex div will drag the stock back, hopefully the uptrend can continue, was due a rerating. The australian listing seems to add nothing to trading in Australia, volume on that exchange almost zero

Winner69 been on the forums as long as i have , going back probably to the mid 1990s on sharechat. You need people who have that experience of surviving all kinds of markets, is he on a temporary ban, or gone for good?

[noodles]

Will be interesting how much going ex div will drag the stock back, hopefully the uptrend can continue, was due a rerating. The australian listing seems to add nothing to trading in Australia, volume on that exchange almost zero

Actually, EBO has already gone ex-div.

[percy]

Winner69 been on the forums as long as i have , going back probably to the mid 1990s on sharechat. You need people who have that experience of surviving all kinds of markets, is he on a temporary ban, or gone for good?

ratkin.I think you hit a raw nerve!!
Roger has again put in the hard yards and I believe Winner69 is now unbanned.Thank you Roger, and W69, all you friends are looking forward to your sage advice and opinions to resume.

[Jay]

ratkin.I think you hit a raw nerve!!
Roger has again put in the hard yards and I believe Winner69 is now unbanned.Thank you Roger, and W69, all you friends are looking forward to your sage advice and opinions to resume.

That is good news

Hoop was not banned just left - don't think he has logged in since so has not seen the apology from Mr Tiger or the other comments pleading with him to stay, perhaps Roger could help out there as well??

Only wish I had some Ebos, did have a while ago then sold when it slipped a bit/went out of fashion.

[iceman]

Great news. W69 has been a very good contributor to this forum for a long time and I miss his posts and his warped sense of humour. I sincerely hope he will start posting again.


ratkin.I think you hit a raw nerve!!
Roger has again put in the hard yards and I believe Winner69 is now unbanned.Thank you Roger, and W69, all you friends are looking forward to your sage advice and opinions to resume.

[winner69]

Just for you Percy

EBO share price has a habit of trading in price ranges, The ranging often lasts for some time. Good thing is that each trading range is higher than the previous one.

The latest trading range lasted from May 2013 (about the time Symbion acquisition was announced) to the end of last month. During those 2 years (well almost) the share price averaged $9.63 and pretty much in a +/- 8% range (weekly prices). Pretty boring eh.

EBO has now broken out of that range. If history is anything to go by it is likely it will range trade for another year or two. If it does the $10.40 which was the top of the range just broken will become support and $12.20 will become a new resistance. Prices will range between $11.30 +/- 8%.

Interestingly the market isn't as excited on EBO as it was in 2013. Back then and pre-Symbion and after a year or so of Masterpet under their belt EBO earnings were about 47 cents/share. Current forecast is say 70 cents/share. So earnings/share up nearly 50% but share price only up 25%. Maybe overvalued back then and fair value now?

Percy, as you recall I sold my EBO shortly after the Symbion acquisition at just under 10 bucks. That was the end of a great trade from about 6 bucks shortly after the Masterpet acquisition announced over Christmas 2011. the market took a while to recognise the value in Masterpet but they did in the end. I have yet to get too enthusiastic about re-entering EBO, as the fundamentals just don't turn me on and I can't see a 25% pa to 30% pa upside over the next couple of years. I generally look for more exciting things.

If that 25% does happen I won't have any regrets but will join in your celebratory drinks whenever that happens.

Still keeping a close eye on Ebos though.

[Xerof]

Yay, I will change my profile immediately, W69. :t_up:

[horus1]

what a great post . I am a long term holder and acquirer of Ebos

[h2so4]

If I could pick them up across the ditch for $8.57 I'd be happy.

[Snow Leopard]

Just for you Percy

EBO share price has a habit of trading in price ranges, The ranging often lasts for some time. Good thing is that each trading range is higher than the previous one.

The latest trading range lasted from May 2013 (about the time Symbion acquisition was announced) to the end of last month. During those 2 years (well almost) the share price averaged $9.63 and pretty much in a +/- 8% range (weekly prices). Pretty boring eh.

EBO has now broken out of that range. If history is anything to go by it is likely it will range trade for another year or two. If it does the $10.40 which was the top of the range just broken will become support and $12.20 will become a new resistance. Prices will range between $11.30 +/- 8%.

Interestingly the market isn't as excited on EBO as it was in 2013. Back then and pre-Symbion and after a year or so of Masterpet under their belt EBO earnings were about 47 cents/share. Current forecast is say 70 cents/share. So earnings/share up nearly 50% but share price only up 25%. Maybe overvalued back then and fair value now?

Percy, as you recall I sold my EBO shortly after the Symbion acquisition at just under 10 bucks. That was the end of a great trade from about 6 bucks shortly after the Masterpet acquisition announced over Christmas 2011. the market took a while to recognise the value in Masterpet but they did in the end. I have yet to get too enthusiastic about re-entering EBO, as the fundamentals just don't turn me on and I can't see a 25% pa to 30% pa upside over the next couple of years. I generally look for more exciting things.

If that 25% does happen I won't have any regrets but will join in your celebratory drinks whenever that happens.

Still keeping a close eye on Ebos though.

Whilst not in total agreement in your assessment of the future for EBOS, for I have not a clue what it will do, but hope for a steady increase in the value of the company and it's dividend stream, it is good to see you back again.

Best Wishes
Paper Tiger

7203

[percy]

Just for you Percy

EBO share price has a habit of trading in price ranges, The ranging often lasts for some time. Good thing is that each trading range is higher than the previous one.

The latest trading range lasted from May 2013 (about the time Symbion acquisition was announced) to the end of last month. During those 2 years (well almost) the share price averaged $9.63 and pretty much in a +/- 8% range (weekly prices). Pretty boring eh.

EBO has now broken out of that range. If history is anything to go by it is likely it will range trade for another year or two. If it does the $10.40 which was the top of the range just broken will become support and $12.20 will become a new resistance. Prices will range between $11.30 +/- 8%.

Interestingly the market isn't as excited on EBO as it was in 2013. Back then and pre-Symbion and after a year or so of Masterpet under their belt EBO earnings were about 47 cents/share. Current forecast is say 70 cents/share. So earnings/share up nearly 50% but share price only up 25%. Maybe overvalued back then and fair value now?

Percy, as you recall I sold my EBO shortly after the Symbion acquisition at just under 10 bucks. That was the end of a great trade from about 6 bucks shortly after the Masterpet acquisition announced over Christmas 2011. the market took a while to recognise the value in Masterpet but they did in the end. I have yet to get too enthusiastic about re-entering EBO, as the fundamentals just don't turn me on and I can't see a 25% pa to 30% pa upside over the next couple of years. I generally look for more exciting things.

If that 25% does happen I won't have any regrets but will join in your celebratory drinks whenever that happens.

Still keeping a close eye on Ebos though.

Well that post has made my day.!!
Sage advice,well thought out and right on the money!!
Thank you.You really have been missed.
My own expectations are nowhere near the 25 to 30% mark.More about 8 to 12% plus divies.,
Ebos has always exceded my expectations,so I look forward to shouting you drinks when they again surprise.
25% to 30%, and you can choose from the top shelf.!!! lol.

[ratkin]

Just for you Percy

EBO share price has a habit of trading in price ranges, The ranging often lasts for some time. Good thing is that each trading range is higher than the previous one.

The latest trading range lasted from May 2013 (about the time Symbion acquisition was announced) to the end of last month. During those 2 years (well almost) the share price averaged $9.63 and pretty much in a +/- 8% range (weekly prices). Pretty boring eh.

EBO has now broken out of that range. If history is anything to go by it is likely it will range trade for another year or two. If it does the $10.40 which was the top of the range just broken will become support and $12.20 will become a new resistance. Prices will range between $11.30 +/- 8%.

Not sure it is ready to range yet. Ebos was a very good growth stock before it went into its two year trading range, you can argue it is long overdue for a significant re-rating, the p/e is very reasonable , especially for a health care stock. When you push out to a really longterm chart the trading range of the last two years, looks like it was the only really significant one, previously it was trending up (interrupted by gfc).
As long as the overall markets stay ok then it could keep creeping upwards
7204

[winner69]

What's up - share price drifting down.

Looks like heading to 1040 which I said would be support going forward (trading range 1040 to 1220 I said)

Go much below 1040 and umm a problem of sorts

[macduffy]

What's up - share price drifting down.


Potential, or imagined, implications of international trade pacts are getting another airing. Ebos' business with DHB's is seen, by some, as being threatened.

I'm holding.

[percy]

Potential, or imagined, implications of international trade pacts are getting another airing. Ebos' business with DHB's is seen, by some, as being threatened.

I'm holding.

I am happy adding to my holding by having dividend reinvestment.

[noodles]

Potential, or imagined, implications of international trade pacts are getting another airing. Ebos' business with DHB's is seen, by some, as being threatened.

I'm holding.

I think it is just a classic technical pullback after a strong advance. Move from $9.30-$11 on strong volume and has drifted back to $10.50 on light volume. This is healthy.

While I wouldn't discount the impact of the trade agreement, I would have expected this is hit the Australian listed operators such as API.AX as well. I'm not seeing this.

[Snow Leopard]

...Anyway having a breakout is one thing, whether it becomes a false breakout is another (and then a false false-breakout usw...)...

The trouble with hedging your bets is that sometimes your turn out to be right.

Still a good company with good fundamentals I believe / hope / make requests to a reliable deity.

Best Wishes
Paper Tiger

* I can say that here, can't I?

[winner69]

What's up - share price drifting down.

Looks like heading to 1040 which I said would be support going forward (trading range 1040 to 1220 I said)

Go much below 1040 and umm a problem of sorts

Hey tiger, even I was wrong

Today's 1026 a bit ominous if it goes down anymore.

But lets say a temporary blip and it be back over 1040 tomorrow and then we can say the 1040 support did hold.

Still reckon range trade the 1040 to 1220 for a year or two.

[JayRiggs]

Does anyone know if EBOS have any currency hedging to help with the low $AUD?
Much like FPH do for the $US.

[winner69]

Does anyone know if EBOS have any currency hedging to help with the low $AUD?
Much like FPH do for the $US.

They say -

Forward foreign exchange contracts
It is the policy of the Group to enter into forward foreign exchange contracts to cover specific foreign currency payments and receipts within 60% to 100% of the exposure generated. The Group also enters into forward foreign exchange contracts to manage the risk associated with anticipated future sales and purchases

Note 31 of last Annual Accounts gives you some idea of the contracts they had


However often the biggest impact is translation impacts

Bet you are now fully informed, right?

[JayRiggs]

Ah thanks for the winner, I'll take a closer look there.

[winner69]

At least 10 bucks held

If I had faith in my range trading theory a quick 20% plus on the cards from here.

Maybe, maybe not, let's see

[percy]

At least 10 bucks held

If I had faith in my range trading theory a quick 20% plus on the cards from here.

Maybe, maybe not, let's see

20% plus............................80% = 100% ..............or $20 sp.
My take a little longer,but I will enjoy the journey.!!
I don't mind growing wealthy........slowly....

[winner69]

Go on EBO ..... get back to 10 bucks

Price starting with a 9 looks bad for you

Go EBO go EBO .... you can do it

[JayRiggs]

Sorry I tried to keep it over $10 when I bought some the other day. Someone help me out!!!

[James108]

Any ideas why the sudden fall in price? Just the NZD/AUD?

[percy]

I think you are walking in circles (with blindfold on) with this one. I can probably check back in another 2 years time and it will still be $10 LOL
http://www.marketwatch.com/kaavio.Webhost/charts/big.chart?nosettings=1&symb=EBO&uf=7168&type=2&size=2&sid=162857&style=1013&freq=1&time=9&rand=2019510960&ma=5&maval=50,200&lf=268435456&lf2=4&lf3=2&height=553&width=579&mocktick=1

Yeah right.!!
Been very successful investment for me for the past 24 years.
I expect the next 24 years will be even more rewarding.!!

[winner69]

Maybe back to 10 bucks by the end of the day and the week on a high

[winner69]

Macduffy, yes ROE has fallen away.

I prefer to look at ROIC with the invested capital bit being debt along with equity.

Looking at ROIC for years up to 2012 it consistently was in excess of 10%, in 2011 it was 17% odd. Up into 2012 EBOS more than covered it cost of capital. It was adding substantial economic value. As such EBO market cap deserved to be in excess of its book value. (Theory being Market Value Added being NPV of future economic value added)

The last couple of years has had the Symbion effect making Ebos much bigger. In achieving that equity has increased to $970m and debt is $404m. Invested capital end FY14 being $1,704m. ROIC for Fy14 was just over 7%. Forecasts for FY15 indicate ROIC won't be that much higher.

So back to theory - unless profitability increases faster than it currently is than a fair assumption all the company is doing is covering its cost of capital, indicating a fair price for EBO is about it's book value, about $6.44.

At about the current price of $10 the market is saying that its market value added is over $500m. If this is indeed the NPV of future EVA then Ebos should be making about $30m than it currently is and still growing 7%pa for at least the next 5 years.

Interesting way market sees things at the moment, both a TA and FA perspective.

On one hand a few weeks ago the market was saying $10.50 to maybe $12.20 (the new trading range I suggested) was about right. Maybe the recent downturn is the realisation that post Symbion acquisition that's too high and the share price is going to gravitate closer to book value (the $6,44)

Who knows. All I know is that fundamentals generally win out in the end.

But then again all Ebos has to do is make another decent acquisition and everybody will get excited again and things will look different.

But maybe 24 years of history will be a guide to future performance.

(Disc. Respect the company. Been in a few times but not continuously for 24 years. Last time was post Masterpet acquisition and riding share price increase from 6 bucks to 10 bucks. Currently not in as considered overvalued. Maybe back in one day)

[winner69]

Was wondering how shareholders have done since EBO acquired Symbion.

Share price was around $9.00 pre acquisition being announced. There was a 7 for 20 issue at $6.50 after this so adjusted price really $8.35

So in 2 years share price up $1.50 and dividends of $0.96 - all up return $2.46

Not too bad, up 30% in 2 years and art of in line with NZX being up 37% in same period

[ratkin]

Been a very good investment for me, but have sold out a fair few of my holding today. Im really not trusting the markets at the moment, and have everything in a short leash.

now i have sold expect a massive rally :-)

[kiora]

Been a very good investment for me, but have sold out a fair few of my holding today. Im really not trusting the markets at the moment, and have everything in a short leash.

now i have sold expect a massive rally :-)
It is May after all ! :)

[modandm]

people are worried about the outcome of Australian healthcare budget cuts. In particular a subsidy EBO receives, to promote the service of rural centers.

Expect the stock to remain under pressure till this gets resolved (either way), in a couple of months.

[winner69]

Good god - at this rate EBU share price will have an 8 in front of it

I update chart every day now ..... just in case

[noodles]

Now I normally wouldn't take any notice of the presence of bots trading a stock. It looks like they have been active in EBOS this afternoon. I know percy has been waiting for the Aussies to take notice of what EBOS have been achieving. Perhaps this is some evidence. Aussies do love their bots.

[kiwidollabill]

Not much banter on this one recently, seems to equilbrate around the $10 mark over the last 2 years. I would consider myself a buyer but the shift in the forex is going to hit their profit margins heavily. Expecting some profit downgrades which should push things down into a good buying position. See this as a good long term hold but will give it 3-6 months before diving back in.

[percy]

With the majority of earnings coming from Australia,the weakening NZ$ will greatly improve EBO's profit.

[macduffy]

[QU.OTE=kiwidollabill;580076]Not much banter on this one recently, seems to equilbrate around the $10 mark over the last 2 years. I would consider myself a buyer but the shift in the forex is going to hit their profit margins heavily. Expecting some profit downgrades which should push things down into a good buying position. See this as a good long term hold but will give it 3-6 months before diving back in.[/QUOTE]

You're probably on the mark there, bill. The exposure to the AUD was seen as a potential benefit or drag on profitability at the time of the big move into Aust with AUD earnings now around 80% of total. I'm a longterm holder since the Early Bros days so not fussed about short term fluctuations. Wouldn't be trading it at this point though and will wait before considering adding any.

[noodles]

Not much banter on this one recently, seems to equilbrate around the $10 mark over the last 2 years. I would consider myself a buyer but the shift in the forex is going to hit their profit margins heavily. Expecting some profit downgrades which should push things down into a good buying position. See this as a good long term hold but will give it 3-6 months before diving back in.
Really? Have you seen how far we have dropped against the aussie. We started the financial year (1/7/14) at 92.8c. As of 30/6/15, NZD traded at 89c. And we a lower now.

I see EBO as a medium growth stock that is non-cyclical. It is on very undemanding pe multiples compared to other stocks on the NZX. It could be just the tonic for a portfolio overly-focused on the NZ economy.

[percy]

Really? Have you seen how far we have dropped against the aussie. We started the financial year (1/7/14) at 92.8c. As of 30/6/15, NZD traded at 89c. And we a lower now.

I see EBO as a medium growth stock that is non-cyclical. It is on very undemanding pe multiples compared to other stocks on the NZX. It could be just the tonic for a portfolio overly-focused on the NZ economy.

Disclosure.
I am full of tonic........
Well holding a lot of tonic.
In fact I am "well positioned." lol.

[kiwidollabill]

I was more concerned about the buy side, alot will be from US suppliers or bought in USD

[dagoldtoof]

The fact Ebo are involved in Masterpet gives me a good feeling....The pet aisle takes up a lot of increasing area in the foodmarts....and we all love our pets...

[macduffy]

I was more concerned about the buy side, alot will be from US suppliers or bought in USD

Fair point, bill.

EBO "may hedge a portion of its net currency exposure to manage the risk around both revenue and expenses " - from the offer document re the Symbion acquisition. Of course, hedging can work both ways - enhancing profitability or hedging profits away! Let's hope that they have some good operators on the job.

A lot of their business is in price-regulated areas such as supplying Pharmac, DHB's etc. Anyone know if such price regulation allows price increases to maintain profit margins?

[kiwidollabill]

Fair point, bill.

EBO "may hedge a portion of its net currency exposure to manage the risk around both revenue and expenses " - from the offer document re the Symbion acquisition. Of course, hedging can work both ways - enhancing profitability or hedging profits away! Let's hope that they have some good operators on the job.

A lot of their business is in price-regulated areas such as supplying Pharmac, DHB's etc. Anyone know if such price regulation allows price increases to maintain profit margins?

The 'All of Government' tenders which have been rolled over the last few years (or at least the ones I've seen) don't give a rats arse about the exchange rate, prices must be fixed in NZD.

[percy]

Just checked EBO chart.
Hard to decide whether I am "well positioned" to still just "positioned".
Will it break out this time.?
And will the break out be up,or down.?
The result is due end of August.

[winner69]

I was really wrong after the last break out saying 1050 would be support and 1200 something the new resistance

Can't always be wrong. Percy, I reckon this time it will break through 1050 an never ever again go below 1050.

The last time it broke 1050 was just a practice run.

[percy]

I was really wrong after the last break out saying 1050 would be support and 1200 something the new resistance

Can't always be wrong. Percy, I reckon this time it will break through 1050 an never ever again go below 1050.

The last time it broke 1050 was just a practice run.

$20....$20.... $20......$20......Not this year.Most probably not next year,but................any year after that.... I am well positioned. lol.
ps.I am sure if their $40mil Melbourne, or $30mil Sydney, warehouses were ever shown on TV, how the automated order picking machines could move 10,000 units of medicine every hour,for 500 deliveries a a day ,the sp would break the $20....the next day..

[JayRiggs]

Every time EBO has gone over $10, it hasn't been able to stay above $10 than 2 months.
We're now almost at that stage where it would have stayed above $10 for more than 2 months. Can it hold? Looking good so far at $10.70.

[winner69]

Every time EBO has gone over $10, it hasn't been able to stay above $10 than 2 months.
We're now almost at that stage where it would have stayed above $10 for more than 2 months. Can it hold? Looking good so far at $10.70.

Breaking through resistance at 1050 is an important milestone

As I told Percy a day or so ago the last time was a practice run.

If it holds 1050 is support and 1250 is likely next resistance level

If it falls back and the worlds market collapse I would be tempted to buy at $6 odd

[percy]

Breaking through resistance at 1050 is an important milestone

As I told Percy a day or so ago the last time was a practice run.

If it holds 1050 is support and 1250 is likely next resistance level

If it falls back and the worlds market collapse I would be tempted to buy at $6 odd

You would not have any money left ,after spending it all making a pig of yourself on SKL at 3 cents.!

[winner69]

You would not have any money left ,after spending it all making a pig of yourself on SKL at 3 cents.!

Hadn't thought of SKL going that low .....but HNZ at 40 cents when they have a heavily discounted rights issue could be tempting

[percy]

Hadn't thought of SKL going that low .....but HNZ at 40 cents when they have a heavily discounted rights issue could be tempting

Very tempting,esp if we could get a friendly margin loan from MARAC,Harmoney or I-finance.!!!!

[dagoldtoof]

At last $11.00....I tell you its all those pet loving people...

[Beagle]

Yep, some nut cases are so obsessed with their dogs they have three :D KW, you reading this ?

[winner69]

Just for you Percy

EBO share price has a habit of trading in price ranges, The ranging often lasts for some time. Good thing is that each trading range is higher than the previous one.

The latest trading range lasted from May 2013 (about the time Symbion acquisition was announced) to the end of last month. During those 2 years (well almost) the share price averaged $9.63 and pretty much in a +/- 8% range (weekly prices). Pretty boring eh.

EBO has now broken out of that range. If history is anything to go by it is likely it will range trade for another year or two. If it does the $10.40 which was the top of the range just broken will become support and $12.20 will become a new resistance. Prices will range between $11.30 +/- 8%.

Interestingly the market isn't as excited on EBO as it was in 2013. Back then and pre-Symbion and after a year or so of Masterpet under their belt EBO earnings were about 47 cents/share. Current forecast is say 70 cents/share. So earnings/share up nearly 50% but share price only up 25%. Maybe overvalued back then and fair value now?

Percy, as you recall I sold my EBO shortly after the Symbion acquisition at just under 10 bucks. That was the end of a great trade from about 6 bucks shortly after the Masterpet acquisition announced over Christmas 2011. the market took a while to recognise the value in Masterpet but they did in the end. I have yet to get too enthusiastic about re-entering EBO, as the fundamentals just don't turn me on and I can't see a 25% pa to 30% pa upside over the next couple of years. I generally look for more exciting things.

If that 25% does happen I won't have any regrets but will join in your celebratory drinks whenever that happens.

Still keeping a close eye on Ebos though.

Didn't quite work out last time but that just a practice run

Watch out ......$12.20 beckons now .....certainty

[percy]

Didn't quite work out last time but that just a practice run

Watch out ......$12.20 beckons now .....certainty

Thanks W69,
I am "well positioned".
Still no volume in Aussie.
When,where,if that happens the fun fun will begin.

[winner69]

https://www.nzx.com/files/attachments/219346.pdf

Revenues up, profit up, dividend up

And share price will follow

Stunning

[percy]

Fabulous result.
EPS up 14.6%
Free cash flow $119.3 million....Confirms what a well managed business this is.
Dividend increased.
And yes this result confirms Patrick Davies was the right man to take over the CEO roll from Mark Waller, and CFO John Cullity is doing the job previously done by Dennis Doherty extremely well.
The outlook was very positive too.
Well done EBO.The past 25 years have been great for me, and looks as though the next 25 are going to be even more profitable and exciting.

[macduffy]

Indeed, a great result!

The Australian performance was the one that I was sweating on, unnecessarily, as it turns out. A hint that this may be the last of the DRP's for a while - for those who are looking to top up from this div.

[percy]

A very special day;
EBO hits an all time high of $11.25.
CEO adding to his holding is a further endorsement.

[nextbigthing]

A very special day;
EBO hits an all time high of $11.25.
CEO adding to his holding is a further endorsement.

In the current market climate, I guess that says a lot for this stock.

Hope it gets hammered down to $8 so I can buy it back up to $11.25 :)

[horus1]

I thought they had the best report of the recent announcements. great company.

[percy]

In the current market climate, I guess that says a lot for this stock.

Hope it gets hammered down to $8 so I can buy it back up to $11.25 :)

All pigs loaded and ready for take-off.!! lol.

[ratkin]

All pigs loaded and ready for take-off.!! lol.

If it wasnt for general market weakness then this would be flying. Topped up last week, having sold a few a couple of months back. Will top up again if there a substantial sell off, although its not looking likely

[h2so4]

If it wasnt for general market weakness then this would be flying. Topped up last week, having sold a few a couple of months back. Will top up again if there a substantial sell off, although its not looking likely

Yes indeedy

[Snow Leopard]

Catching up with recent goings on I am pleased both with the recent EBOS full year results and the share-price - good to see something setting new highs.

Fairly confident that they can maintain their momentum and increase EPS over the next year or two*.

Best Wishes
Paper Tiger

*but do your own research - right?

[percy]

A very special day;
EBO hits an all time high of $11.25.
CEO adding to his holding is a further endorsement.

Above posted 03-09-2015...3 weeks ago.
And today Ebos sp is at $12.01 cum divie as I post,with the buyer at $12.01.

[ratkin]

Above posted 03-09-2015...3 weeks ago.
And today Ebos sp is at $12.01 cum divie as I post,with the buyer at $12.01.

Yep, all good. looks like the breakaway will hold this time. Hopefully 10 dollars is history

[h2so4]

Above posted 03-09-2015...3 weeks ago.
And today Ebos sp is at $12.01 cum divie as I post,with the buyer at $12.01.

Epic:t_up:

[h2so4]

.....still cheap.

[Snow Leopard]

I really, really, really liked EBO when it was in a nice steady uptrend but the last two years have seen the price showing some fairly significant swings.

So currently I see it on one of those irrational upswings and will wait patiently until it achieves an irrationally low price.

I love the cash flow this company generates but even so my 'hot off the spreadsheet' valuations for Ebos are:

30-Sep-15 (current) value: $11.168
30-Jun-16 value: $11.914

which lags the brokers a bit.

Best Wishes
Paper Tiger

Disc: Ebos in A Member of the Tiger Buy & Hold Portfolio

[percy]

Just some thoughts:
Price swings?Two things have caused these.First of all there was concern as to whether new CEO and CFO would perform.
Secondly there is always concerns when dealing with governments with changing health policies.
The new CEO and CFO have proved they are continuing EBO's momentum.The latest result was perfection.
As always EBO have taken advantage of changing government policies.
PE ratio.The PE ratio fluctuates between about 13 and 16. today it is 16.97.
Why is EBO trading at all time highs?Well first of all it has proven it is ahead of the issues that caused the price swings.It is also seen as a very safe defensive stock.
What will drive the share price?EPS growth driven by organic growth and further acquisitions.I also see PE expansion as more Aussie instos realise EBO's earnings are mainly from Aussie, and the company has an Aussie CEO and CFO.So we must watch trades in Aussie.Yesterday 50,000 shares were traded at A$10.594.
I still feel EBO is a $20 stock.Just don't know when that will come about,but I will be there to enjoy it.!!! lol.

[h2so4]

......you didn't mention stock turns which are at a seven year high.

The Symbion purchase 2 years ago may have unsettled the uptrend.
Now EBO purring along we can all have a catnap.

[Snow Leopard]

...I still feel EBO is a $20 stock.Just don't know when that will come about,but I will be there to enjoy it.!!! lol.

Monday 4th July 2022

Best Wishes
Paper Tiger

[percy]

Monday 4th July 2022

Best Wishes
Paper Tiger

EBO has doubled in the past 5 years.In fact according to Yahoo it is up 103.06% from 27th September 2010 to 21st September 2015.
Momentum is again gaining traction,so I would expect the $20 target price will be reached mid afternoon on 24th September 2018.Aprox 3.27pm.................lol.

[Snow Leopard]

Google disagrees with Yahoo on the price 5 years ago and I disagree with both of them.
(You would think the price was a fact, but no even this is subject to the handling of events such as reconstructions/cap raising/etc)

But using my definitive data here are the 5 year growth figures for Ebos NZ share price, dividends excluded:

7622

He who is furthest away from the first $20 SP day buys the drinks.

Best Wishes
Paper Tiger

[percy]

Google disagrees with Yahoo on the price 5 years ago and I disagree with both of them.
(You would think the price was a fact, but no even this is subject to the handling of events such as reconstructions/cap raising/etc)

But using my definitive data here are the 5 year growth figures for Ebos NZ share price, dividends excluded:

7622

He who is furthest away from the first $20 SP day buys the drinks.

Best Wishes
Paper Tiger

I am happy with your "definitve" data,although not unhappy with either google's or yahoo's.
Be unhappy to buy the drinks if I am wrong,but will do so, never the less in the unlikely event!!! lol.

[macduffy]

Up another 23c today!

I'm usually a half-full man but this price is getting me a bit nervous. Any retraction might see me selling a few of my oldest NZ holding.

[Snow Leopard]

Up another 23c today!

I'm usually a half-full man but this price is getting me a bit nervous. Any retraction might see me selling a few of my oldest NZ holding.

The share price has gone from $9.25 a year ago to $12.46 today and has also gone ex-div three times (including today) with $0.675 (net) worth of dividends.

So a total gain of 42%

Best Wishes
Paper Tiger

Disc: part performance is not a guarantee of future performance.

[h2so4]

The share price has gone from $9.25 a year ago to $12.46 today and has also gone ex-div three times (including today) with $0.675 (net) worth of dividends.

So a total gain of 42%

Best Wishes
Paper Tiger

Disc: part performance is not a guarantee of future performance.

Well it was a bargain a year ago.
Still a margin of safety but I'm not buying above $12.46

[glennj]

I've been in since 1.04.2007 and reinvested the net divs in the DRIP when it has been operating. My computer book keeping programme shows this as an IRR of 244.71%. Time held is 8½ years therefore the annual gain is about 28.8%. Not bad, but not my best performing stock either! I'm glad I bought a decent amount of them back in 2007. Av entry price including the DRIP purchases is now $4.795. I have not sold any despite the up and down nature of the share price. From an FA point of view this has always been undervalued or fairly valued thus a buy or hold.

[Snow Leopard]

I've been in since 1.04.2007 and reinvested the net divs in the DRIP when it has been operating. My computer book keeping programme shows this as an IRR of 244.71%. Time held is 8½ years therefore the annual gain is about 28.8%. ...

Your annual rate of return is 15.7% (You have to compound it)

7633

Best Wishes
Paper Tiger

[glennj]

Hi PT, I just gave a simple average based on 8½ years since the first purchase even though the DRIP purchases are obviously staggered and more recent than that. I know about compounding and could have compiled a compounded annual return including the various DRIP parcels but didn't because the calcs would be much more complex. By the way I used the net value of divs excluding WHT and imputation credits. Is there a "proper" way to account for divs when stating performance returns? (I know what is required on tax returns) For the performance calcs I add in the net value of divs in the hand even though at a later date there may sometimes be a refund for some of the WHT or imp credits.

[Snow Leopard]

Hi PT, I just gave a simple average based on 8½ years since the first purchase even though the DRIP purchases are obviously staggered and more recent than that. I know about compounding and could have compiled a compounded annual return including the various DRIP parcels but didn't because the calcs would be much more complex.

I could see what you did but I did not want our listeners out there to get an inflated idea of EBOS.

But a quick and dirty compound calculation [=power(3.4471,1/8.5) or similar if you use a spreadsheet] gives a good flavour of historical average returns.


By the way I used the net value of divs excluding WHT and imputation credits. Is there a "proper" way to account for divs when stating performance returns? (I know what is required on tax returns) For the performance calcs I add in the net value of divs in the hand even though at a later date there may sometimes be a refund for some of the WHT or imp credits.

The simple answer is that it is complicated
and the complicated answer is that it depends* :crying:.

Best Wishes
Paper Tiger

*I really don't want to clutter this thread with this sort of stuff what with tax exempt gains and taxable gains and all but:
value after tax at end of tax year/value at beginning of tax year is a good (but personal) measure of the real world.

[glennj]

Further to the above post including the DRIPs I have bought c.20 seperate parcels of EBO shares. Stating the performance of just the large initial purchase from April 2007 which is currently still held the annualised (compound) return is 12.24%. I'm not going to do the calc for all the other parcels bought since 2007 but the info suggests that annualised returns must have been higher for the more recently purchased parcels. BTW thanks for your input PT. I'll just keep doing what I've been doing re accounting for dividends when calculating performance returns for my use. An accountant does my investment company tax returns.

[h2so4]

Further to the above post including the DRIPs I have bought c.20 seperate parcels of EBO shares. Stating the performance of just the large initial purchase from April 2007 which is currently still held the annualised (compound) return is 12.24%. I'm not going to do the calc for all the other parcels bought since 2007 but the info suggests that annualised returns must have been higher for the more recently purchased parcels. BTW thanks for your input PT. I'll just keep doing what I've been doing re accounting for dividends when calculating performance returns for my use. An accountant does my investment company tax returns.

You use a company for your investments?
I am enquiring because I have a tax loss company and I wonder if I should do the same.

[glennj]

You use a company for your investments?
I am enquiring because I have a tax loss company and I wonder if I should do the same.

h2so4 I don't know if it would be the right thing for you or not. At the time I had my investment company incorporated I was paying a fair bit of tax at the top rate and thus the lower company tax rate was attractive. At that time both Trust and Company structures were looked at. Both my accountant and I decided that the company structure was the better vehicle for my investing activivities and some incidental contracting income I generate.

[winner69]

13 bucks tomorrow?

Of course,

[Zaphod]

A metoric rise followed by..... ???

I'm keeping a close eye on the SP.

[winner69]

13 bucks tomorrow?

Of course,

A few days late but got there ..........and beyond

The world seems a happy place at the moment

[Snow Leopard]

A few days late but got there ..........and beyond

The world seems a happy place at the moment

Fundamentally, technically, emotionally:

Overpriced, overbought, overjoyed.

Best Wishes
Paper Tiger

[percy]

Fundamentally, technically, emotionally:

Overpriced, overbought, overjoyed.

Best Wishes
Paper Tiger

Loving it.!!!

[Snow Leopard]

Todays tell you nothing you don't already know Investor Presentation (https://nzx.com/files/attachments/222535.pdf) appears to be helping EBOS on it's way to be

the first $100 share on the NZX*.

Best Wishes
Paper Tiger

*But probably not in my lifetime.

[macduffy]

The best Aussie share in my portfolio!

78% net revenue from Australia, 81% EBITDA.

Hoping the NZD/AUD cross rate doesn't upset the game!

:cool:

[percy]

Todays tell you nothing you don't already know Investor Presentation (https://nzx.com/files/attachments/222535.pdf) appears to be helping EBOS on it's way to be

the first $100 share on the NZX*.

Best Wishes
Paper Tiger

*But probably not in my lifetime.
I take it Craig's investor day is being held somewhere in NZ,as MEL and POT are also presenting.
I expect the real fun will start when Ebos starts presenting to Aussie Fund managers, for the reasons Macduffy pointed out.

[LAC]

This stock is going nuts......$13.40 today:ohmy:

[macduffy]

This stock is going nuts......$13.40 today:ohmy:

And it makes me increasingly nervous about earnings in the short term, especially if predictions of a lower AUD come to pass. Translation of Aussie profits to NZD won't be great - unless of course the NZD depreciates with the Aussie!

http://www.clime.com.au/blog/australian-dollar-deficit/?utm_source=Livewire&utm_medium=content&utm_campaign=auddeficit131015&utm_source=Trending+on+Livewire+%22The+Morning+Wir e%22&utm_campaign=ef30116d54-Trending+on+Livewire&utm_medium=email&utm_term=0_1911ffeed5-ef30116d54-82636925&mc_cid=ef30116d54&mc_eid=9f402457b0

[percy]

I can't comment as I am suffering a lovely case of "Stunned Rabbit Syndrome." lol.

[h2so4]

I can't comment as I am suffering a lovely case of "Stunned Rabbit Syndrome." lol.

Feeling a bit the same Percy. Lol
No doubt The Cat will be in his PJs.

[h2so4]

........approaching sell territory?

[Onion]

I can't comment as I am suffering a lovely case of "Stunned Rabbit Syndrome." lol.

I've got "Pissed Off Rabbit Syndrome". I sold out at 11.60 last month thinking I was locking in the profits. Planned to wait for the SP to settle back and then re-enter -- yeah right!

[percy]

I've got "Pissed Off Rabbit Syndrome". I sold out at 11.60 last month thinking I was locking in the profits. Planned to wait for the SP to settle back and then re-enter -- yeah right!

All a bit surprising.!!

[percy]

........approaching sell territory?

I am attending the agm on the 27th October.
It will be interesting to hear The Chairman's and The CEO's presentations.Maybe the reasons for the big share rise will be given?
The biggest mistake I have made on the share market is selling down some Ebos shares.Has cost me a great deal,rebuilding to a "comfortable" holding.I have said to myself,don't make the same mistake again.!!!!!!!!!!!!!!

[Zaphod]

........approaching sell territory?

The SP has certainly risen extremely sharply in a relatively short period of time on absolutely no relevant news.

Unless there are rumours of another acquisition or a major contract being worn - I certainly haven't been privy to any - then I suspect a correction is in order, and I will be lurking at bottom with my finger on the buy button.

[RTM]

Yes. I feel like I am enjoying the climb I had again with HNZ to $1.40ish....only to endure the slide to ~$1.10
Thinking of selling what I have...and then "lurking at bottom with my finger on the buy button" for a while.
Not sure....dithering....have the Aussies woken up to EBOS ? Is their interest what has driven the price up ?


The SP has certainly risen extremely sharply in a relatively short period of time on absolutely no relevant news.

Unless there are rumours of another acquisition or a major contract being worn - I certainly haven't been privy to any - then I suspect a correction is in order, and I will be lurking at bottom with my finger on the buy button.

[macduffy]

....have the Aussies woken up to EBOS ? Is their interest what has driven the price up ?


Not according to yesterday's Aussie trading. No EBO sales, as far as I could tell.

[percy]

Not according to yesterday's Aussie trading. No EBO sales, as far as I could tell.

Posted in good faith.
I think the Aussie's have to buy their shares here,then they can transfer them onto the Australian register.
So it may be some time before we see volumes being traded in Aussie.

[winner69]

Posted in good faith.
I think the Aussie's have to buy their shares here,then they can transfer them onto the Australian register.
So it may be some time before we see volumes being traded in Aussie.

Why be dual listed then?

I think brokers 'shunt' shares back and forth across the Tasman in line with demand in each country.

Think if somebody wants 10,000 shares on ASX the brokers 'shunt' 10,000 from the sells from NZX. That's how it was explained to me once

[RTM]

...should have checked I guess. Agreed. Does not look like it is driven out of Australia at all looking at Supercharts in ANZ.


Not according to yesterday's Aussie trading. No EBO sales, as far as I could tell.

[macduffy]

Posted in good faith.
I think the Aussie's have to buy their shares here,then they can transfer them onto the Australian register.
So it may be some time before we see volumes being traded in Aussie.

Yes, good point, percy.

Apart from the 58m shares issued to Zuellig for the Symbion takeover, the number of shares held on the Aussie register is probably still quite small.

[RTM]

Yes, good point, percy.

Apart from the 58m shares issued to Zuellig for the Symbion takeover, the number of shares held on the Aussie register is probably still quite small.

Thanks for explaining that.

[percy]

As at 31st July Sybos holdings [Zuellig] held 60,275,458 shares or 40%.On the 12th October they held the same number.
on 25th September JP Morgan Nominees Australia held 109,901 and increased their holding to 565,452 shares as at the 12th October.
On 25th September National Nominees Ltd [take that as Aussie] held 72,180 and increased their holding to 396,507 as at the 12th October..
As the seller is hidden in NZ Central Securities Depository, it is impossible for me to work out who it is.
However we are starting to see buying interest from Aussie.

[percy]

Ebos finished today at $13.74 on $3.5mil worth of shares traded in NZ.Rising share price on large volumes.[for EBO].
I note 174,000 shares were traded in Aussie,although I expect the 100,000 at a$12.78887 had s3xt after them,so I expect they came from NZ.

[black knat]

$14! how about that!

[percy]

Absolutely Stunning.!!

[Snow Leopard]

Just when you think it can go no higher...

...it does.

There is significant volume behind this as well.

$100 here we come :p

Best Wishes
Paper Tiger

[macduffy]

Presentation from yesterday's Annual Meeting.

http://www.asx.com.au/asxpdf/20151027/pdf/432fcv5l0x628t.pdf

Ebos, like rust, never sleeps with further potential acquisitions on the radar!

[winner69]

Could be announced.very very soon according to mark on radio this morning - the acquisition that is

[percy]

I did ask CEO Patrick Davies whether the share price was being driven by Aussie instos."No,not just Aussie intos,but NZ intos as well."
This year's annual report [result] meant they had a comparable year to compare the result with,as last year they did not.
He was very pleased to get the NSW hospital medical consumables warehouse and distribution contract.Maybe other states will follow.
Sorry to see Rick Chtistie retire.Ebos has had huge growth during his watch.
With a very strong board,excellent management and being in a growing sector I think the outlook remains positive.

[Joshuatree]

Congrats Percy and long termers for sitting in on this one and ignoring the "noise" and doing your research and sticking with your belief.

[percy]

Congrats Percy and long termers for sitting in on this one and ignoring the "noise" and doing your research and sticking with your belief.

No business is perfect.All businesses have challenges,ups and downs.Some things work out, while others don't.Ebos has lost good agencies,faced changing government regulations,alterations to supply chains,yet all the time the quality and dedication of the board,management and staff, have known where they want the company to be,and have always aimed for that spot.Their moat is the way they do things.It was not too many years ago Mark Waller told the agm Ebos were wasting their time in Aussie,either they had to buy something big,or withdraw from Aussie.An extraordinary statement to tell shareholders.! But then they went ahead with the huge Symbion acquisition.
Yes always a lot of "noise",but I think experience helps as tell the great companies from the not so good companies.I good company can have a bad year,while a bad company can good year.
Ebos is a great company.

[Zaphod]

Could be announced.very very soon according to mark on radio this morning - the acquisition that is

So the recent SP climb could well have been driven my rumors of a new acquisition. It'll be interesting to see if the market believes that it's been fully priced into the current SP.

Personally I'm still hoping for a correction.

[horus1]

These are like POT . Great Company and if they drop buy them . Added some after AGM at 13.93.

[Tomtom]

Position doubled ...and now back to where we started again.

[percy]

Was not me.!!! lol.
Interesting noting it was companies controlled by directors Peter Kraus and Barry Wallace,who sold the 5mil shares.
Kraus was the original controlling director, having brought EBO off Brierley Investments.
Kraus stood for re-election,and was successful on Tuesday.Never says much, but has had a huge influence on Ebos's success.
Maybe this will be their last terms as directors.

[winner69]

Was not me.!!! lol.
Interesting noting it was companies controlled by directors Peter Kraus and Barry Wallace,who sold the 5mil shares.
Kraus was the original controlling director, having brought EBO off Brierley Investments.
Kraus stood for re-election,and was successful on Tuesday.Never says much, but has had a huge influence on Ebos's success.
Maybe this will be their last terms as directors.

Hmm - interesting Barry Wallace and Peter Kraus reduced their stake as the share price trades near record highs.

You been shareholder for as long as them Percy

Not thinking of selling as well are you?

[percy]

Hmm - interesting Barry Wallace and Peter Kraus reduced their stake as the share price trades near record highs.

You been shareholder for as long as them Percy

Not thinking of selling as well are you?

All a long time ago.
Peter Kraus took control in about 1991,and has supported the company since them.He took the bold step of rewarding Mark Waller on results.
I think I brought in about 1992/93, when the market cap was under $3mil.The first agm I attend was held in their boardroom, had the board and either 10 or 12 shareholders present.At the end of the meeting I remember a serving hatch opened up, and the then chairman Jamie Maddren, poked his head through it, and asked "who would like a cup of tea".?
I think Barry Wallace was a neighbour of Peter Kraus's and he joined the board in 2001.
I had a "fair" holding in EBO, and over the years sold down.A couple of years I decided I wanted a "fair" holding again, and used profits from successful Aussie specs to do so.At present time I have no intention of selling any EBO shares.
As well as Kraus and Wallace,the rest of the board is very impressive,with Sarah Ottrey,Elizabeth Coutts,Stuart Mcgregor and live wire Peter Williams ,all now being led by new chairman Mark Waller.
I did spend time talking to Peter Williams and Patrick Davies after the meeting.Both are very interesting people,and their enthusiasm is infectious.!

[h2so4]

Great story percy. Like

[percy]

Great story percy. Like

Don't encourage me.!!
Background,Former Canterbury Cricket captain Maurice Ryan was a director/manager with Ebos.He was friends with ChCh's one and only hard case investor Ian Urquhart.Ian was very furgal,possibly extremely frugal.Rode a bike and took his own sandwiches to work.Always wore Jandals.Director Jamie Maddren drove a nice Jag while CEO Mark Waller drove a Porsche.
Well one of the resolutions was for an increase in directors' fees.When Ian stood up to talk we knew we were in for fun.First of all Ian spoke that he had shares in a number of other companies [first laugh as Ian had shares in a great number of companies],said all the directors it those companies earnt a lot less than the Ebos directors,and noting the directors did not drive Cortinas [second laugh]he thought what they were paid a present was good enough.
After the meeting there was a lively discussion between Maurice Ryan and Ian [great friendsMaurice actually got Ian to invest in EBO]as to whether Ian had brought the shoes he was wearing from the Salvation Army,or had he dived into one of those clothing bins and helped himself.I seem to remember every one had an opinion and joined in the discussion.
Ian was a wonderful investor.I rang him one time,because I was unsure of something about EBO,and he spent a lot of time explaining and helping me.He certainly added a wealth of colour to any agm.

[Snow Leopard]

There was the all-time closing high of $14 on 21-Oct and then we hit a low of $13.55 on 29-Oct and since then the price has been creeping back up and, importantly, the volume is strong.

Now I was expecting all this to be a bit of a one, then two, month wonder and was hoping to add a few more thousand shares to the portfolio, but it ain't coming down.

I think it is a good company - but at this price?
What am I missing?

Best Wishes
Paper Tiger

PS: You will understand that my feelings with regard to the high share price are somewhat mixed.

[percy]

I love it.
My $20 target price just needs another two years of 20% SP growth.
And I am holding myself [and all my EBO shares] at the ready.
You could say "I am very well positioned."

[winner69]

Acquiring Red Seal for $80m and the good old EPS accretive trick as well (if funding from debt you would hope so eh)

At this rate you never know Blackmores might be the next big target

Then Ebos a $1,000 share

[percy]

Although it is only a small acquisition at $80mil it is a splendid fit for Ebos,giving them ownership of an excellent brand in Red Seal.
Ebos's logistics, distribution and marketing expertise will see Ebos develope Red Seal, so it reaches its full potential.Being in the health supplement field the margins should be good.

[kiwidollabill]

Interesting..... the Hilkes (previous owners of red seal) have done well out of this.

One of Red Seals largest SKUs is jars of molasses - exported to China...

[Snow Leopard]

Little piece from stuff.co.nz (http://www.stuff.co.nz/business/74104149/ebos-purchase-moves-it-further-from-regulated-drugs-toward-higher-margins).

Maybe they should buy Comvita next ?

Best Wishes
Paper Tiger

[Zaphod]

Comvita would make a good strategic purchase.

As long as they maintain a core business whose products are based on scientifically validated empirical evidence. I'd hate for them to acquire a homeopathy business, even though the margins are exceptionally large!

[macduffy]

How about Vitaco - VIT?

Health foods and sports supplements manufacturer/distributor, MV $417m.

Besides, I hold a few!

:cool:

[macduffy]

Duplicated post.

[LAC]

Did EBOS indicate that their plans for 2016 is to acquire more businesses at the AGM? They say 80mil for Red Seal is a small acquisition which would suggest there's something bigger in the pipeline....
CVT would be awesome :)

[percy]

Did EBOS indicate that their plans for 2016 is to acquire more businesses at the AGM? They say 80mil for Red Seal is a small acquisition which would suggest there's something bigger in the pipeline....
CVT would be awesome :)

Yes,as they have done so at every agm that I can remember.!! They are usually, at any point in time, looking at 2 or 3 suitable acqusitions.The board is made up of extremely talented, enthusiastic people, whose energy will keep this business well fired up.
Should they do another"big one" they know, if it is any good, shareholders will support a capital raise.When they had surplus capital a few years ago they made a capital return to shareholders.
CVT,GXH, TIL,PAZ [unlisted] would all fit.In Aussie there are a very large number of suitable candidates.

[percy]

EBO has doubled in the past 5 years.In fact according to Yahoo it is up 103.06% from 27th September 2010 to 21st September 2015.
Momentum is again gaining traction,so I would expect the $20 target price will be reached mid afternoon on 24th September 2018.Aprox 3.27pm.................lol.

The way Ebos' share price upward trajectory is going the $20 target may be reached a year ahead of time.Just need 19.5% compound growth for 2 years.!! lol.

[Snow Leopard]

The way Ebos' share price upward trajectory is going the $20 target may be reached a year ahead of time.Just need 19.5% compound growth for 2 years.!! lol.

I am now more interested in when will it become the first stock on the NZX to breech $100.

Given the closing low of $9.29 on 11-May this year and todays $14.07 then we should be there on 2nd May 2018.

Mind you it may pick up speed and get there early.

Best Wishes
Paper Tiger

PS: Enjoying it while it lasts.

[Zaphod]

I've become somewhat uncomfortable with the sudden rise in SP, especially on the back of what has been a relatively minor acquisition. Time for me to crunch some numbers.....

[percy]

Deloitte Top 200;
Company of the year;
EBOS.
And I agree with them.
Well done Ebos you certainly earnt it.
Absolutely stunning history of achievement.
And yes the future looks even more exciting.!!

[sb9]

Deloitte Top 200;
Company of the year;
EBOS.
And I agree with them.
Well done Ebos you certainly earnt it.
Absolutely stunning history of achievement.
And yes the future looks even more exciting.!!

Forgot about them re the top award, good on them and well done to all holders.

[percy]

Problem?
We appear to have run out of sellers.
Last sale $14.37.
Buyer at $14.37.
No sellers.!
Sort of problem I just love.!!! .lol.

[winner69]

Problem?
We appear to have run out of sellers.
Last sale $14.37.
Buyer at $14.37.
No sellers.!
Sort of problem I just love.!!! .lol.

Good .... a good place to be and better than 'well positioned' eh

15 bucks on sell side now

[macduffy]

EBO is my biggest NZ holding .......and I'm worried.

"A bull market climbs a wall of worry."

;)

[DarkHorse]

Thought I was late to the party buying mid-year - only dug deep enough to see the remaining value thanks to Percy's sage comments - much appreciated :)

[ratkin]

Report today that Ebos are going for Greencross
Makes sense

[LAC]

I remember Percy calling that one a few posts ago......

[noodles]

Report today that Ebos are going for Greencross
Makes sense
http://www.afr.com/street-talk/credit-suisse-in-market-for-greencross-stock-20151217-glqe5y

[babymonster]

greencross has issues with its goodwill imo... anyway...

[LAC]

Any more news on GreenX? I know there's nothing announced but any external articles flying around?

[macduffy]

Any more news on GreenX? I know there's nothing announced but any external articles flying around?

Corporate activity around Greencross.

http://www.asx.com.au/asxpdf/20160215/pdf/4351clrfqyjh1c.pdf

[percy]

Cracker,Stunning,Incredible interim result.
Well done EBO, you have done it again.!
But wait,there's more;
Outlook more of the same.!!!

[h2so4]

Cracker,Stunning,Incredible interim result.
Well done EBO, you have done it again.!

Free cash flow +115% pcp.
How did they do that?

[h2so4]

.....I just nod my head in approval. Sweet!

[LAC]

Loving this stock....... biggest holding as of last year:)

[clarky]

The stock that just keeps on giving... Another stellar result, hopefully they can keep on adding value brands to the portfolio (at the right price obviously).

[Beagle]

Cracker,Stunning,Incredible interim result.
Well done EBO, you have done it again.!
But wait,there's more;
Outlook more of the same.!!!

Congrats Percy...this is your baby and is maturing very nicely indeed. Good sector to be in with an aging population and many of us love our animals :)

[James108]

My only disappointment is that this company is my smallest holding..

[In4a$]

Great result, I was getting nervous a few weeks ago and thought of selling down, glad I didn't, $15 beckons now.

[Bjauck]

Cracker,Stunning,Incredible interim result.
Well done EBO, you have done it again.!
But wait,there's more;
Outlook more of the same.!!!

Interesting to compare the EBO performance with SUM, which released its full year results today.

EBO half year NPAT up 19% REV up 8%
SUM full year NPAT up 56% SALES up 26%

EBO SP has risen 43% over the last 12 months; SUM SP has risen 17%

Is EBO operating in a beloved industry sector; SUM in a currently unloved sector?

[h2so4]

Interesting to compare the EBO performance with SUM, which released its full year results today.

EBO half year NPAT up 19% REV up 8%
SUM full year NPAT up 56% SALES up 26%

EBO SP has risen 43% over the last 12 months; SUM SP has risen 17%

Is EBO operating in a beloved industry sector; SUM in a currently unloved sector?

SP is what you pay value is what you get.
In other words the market is saying SUM SP is a little higher than its value and EBO SP is way under its value but I don't expect another 43% increase but anything can happen.
Value is key.

[James108]

More like SUM had 10+ years of double digit EPS growth priced in and EBO didn't.

[h2so4]

More like SUM had 10+ years of double digit EPS growth priced in and EBO didn't.

Oh I didn't know that. Share price will follow value eventually .

[Bjauck]

More like SUM had 10+ years of double digit EPS growth priced in and EBO didn't. The market and sentiment is not efficient sometimes!

[h2so4]

Cracker,Stunning,Incredible interim result.
Well done EBO, you have done it again.!
But wait,there's more;
Outlook more of the same.!!!

Yes a STUNNER.!!!!
Listening to the webcast a question came in that stated nothing further was required by EBO in the second half to achieve their double digit constant profit FX for 2016. This was quickly dismissed by Patrick Davies who assured the questioner that they weren't going to do nothing and a similar result to the first half would be produced.
The person that asked that question is on the money. I can't remember where he was from. That would be an outstanding result for FY 2016.
EBO wonderful wonderful business!

[Snow Leopard]

So first share to break $100 back on then :)

Best Wishes
Paper Tiger

[Raz]

This investment has been so good to me:-)

[h2so4]

So first share to break $100 back on then :)

Best Wishes
Paper Tiger

$100? What happened to $20

[macduffy]

Free cash flow +115% pcp.
How did they do that?

The previously year's fcf would have been depressed due to the Symbion "merger".

[percy]

On page 19 of yesterday's result presentation there was a very interesting photograph.
It shows a conveyor belt with customer orders on it.
If you look carefully you will notice each side of the conveyor belt are cigarette vending machine type of machines.
As the conveyor belt passes along product is dispensed as required by each order..
Watching a video of it a couple of years ago I was reminded of a video of the fully automated VW factory.
This is how Ebos can sort thousands of orders a day.[between 5,000 and 10,000 from memory].
I think the whole warehouse set up is about $30mil .

[Bjauck]

...Watching a video of it a couple of years ago I was reminded of a video of the fully automated VW factory.
This is how Ebos can sort thousands of orders a day.[between 5,000 and 10,000 from memory].
I think the whole warehouse set up is about $30mil . All good - as long as Ebos has cherry-picked the best from Das Auto!

[h2so4]

I see Morningstar have jacked up their valuation to $14.50.

[h2so4]

.....looks under fair value to me.

[LAC]

$100? What happened to $20
she's a coming..... $15.20 atm

[clips]

possibly time for a share split ?

[LAC]

SP seems to be tracking along nicely....

[percy]

May we wish the buyers at $16.00 a warm welcome, and trust they have a successful day.!
They are certainly making my day most enjoyable.!

[macduffy]

possibly time for a share split ?

Not necessary, clips. A high shareprice hasn't hindered a company such as Blackmores - SP around $200. Nor Berkshire Hathaway, come to think of it.

:)

[LAC]

Took some profits today, think it's just crazy money now with small parcels in the 16's. I'm sure I will regret it tomorrow when it goes up even further lol

[winner69]

Not necessary, clips. A high shareprice hasn't hindered a company such as Blackmores - SP around $200. Nor Berkshire Hathaway, come to think of it.

:)

If split one would miss the thrill every time it passed $15 and then $16 and soon $17

Don't get that thrill and buzz when a stock goes $1.50 ....$1.60 ....$1.70 do you

Shame to lose that excitment

[Snow Leopard]

If split one would miss the thrill every time it passed $15 and then $16 and soon $17

Don't get that thrill and buzz when a stock goes $1.50 ....$1.60 ....$1.70 do you

Shame to lose that excitment

$100 - the only number I am interested in :p

[stoploss]

This has been a small % of my portfolio , have doubled up today so LAC I might have some of yours , "buy the highs "

[macduffy]

No need for a share split. Up 40c to $16.40 today!

:cool:

[macduffy]

A headline in today's AFR - behind the paywall - caught my attention:

"Sigma eyes $2.5b hospital pharmacy market."

- Is anyone able to access this article?

- Is this a threat to EBO's Symbion business?

NZ market either is unaware or doesn't think so with the SP up 45c today.

[Poet]

A headline in today's AFR - behind the paywall - caught my attention:

"Sigma eyes $2.5b hospital pharmacy market."

- Is anyone able to access this article?

- Is this a threat to EBO's Symbion business?

NZ market either is unaware or doesn't think so with the SP up 45c today.

Here is a link from SMH to what s probably the same story
http://www.smh.com.au/business/sigma-pharmaceuticals-chasing-down-25b-hospital-pharmacy-market-20160322-gnp446.html

[macduffy]

Thanks, Poet.

From the article:

"That market is crying out for a competitor. It is dominated by Symbion."

Looks like Symbion/Ebos had better be on their game!

[RTM]

Thanks, Poet.

From the article:

"That market is crying out for a competitor. It is dominated by Symbion."

Looks like Symbion/Ebos had better be on their game!

Yes...they had better be. Hopefully the market is big enough for two companies to do well. Ebos is also diversified into other markets. From SIP's 2014 Annual Review re their Managing Director:
"From 2006 to 2008 he was the CFO and COO for the Pharmacy and Consumer business for Symbion Health Limited. Prior to that Me Hooper was CFO of Sigma from 2001 to 2006 ". So he knows us well !

[voltage]

interested in adding another share to my portfolio, this share has done so well, is this share now to expensive

[RTM]

interested in adding another share to my portfolio, this share has done so well, is this share now to expensive

Time will tell .....
I bought at 905 and 845 in 2014. Sold recently at 13.53 as I thought they were getting expensive...wrong ! Bought back at 13.54 and am happy I did so. I've not bought POT, FPH and others because they seemed expensive and lowish dividend. Wrong again. Sometimes you need to pay a little more to get a quality (hopefully) stock.

Good luck
RTM

[percy]

Time will tell .....
I bought at 905 and 845 in 2014. Sold recently at 13.53 as I thought they were getting expensive...wrong ! Bought back at 13.54 and am happy I did so. I've not bought POT, FPH and others because they seemed expensive and lowish dividend. Wrong again. Sometimes you need to pay a little more to get a quality (hopefully) stock.

Good luck
RTM

Great timing.
Great you brought back in to enjoy the excitement.
A great finish yesterday $17.36,and that's ex divie.

[macduffy]

EBO's been a great investment for us for a long time, percy but a rise of nearly 30% in less than two months makes me nervous!

Yes, the NZX is on a roll, largely as a result of lower interest rates and "experts" starting to discover and talk about the merits of equities and dividends for income. But EBO isn't exactly an income stock so either it's being caught up in the general mood or there's some other reason. Any ideas - or is it just that EBO is a great stock?

:)

[winner69]

EBO's been a great investment for us for a long time, percy but a rise of nearly 30% in less than two months makes me nervous!

Yes, the NZX is on a roll, largely as a result of lower interest rates and "experts" starting to discover and talk about the merits of equities and dividends for income. But EBO isn't exactly an income stock so either it's being caught up in the general mood or there's some other reason. Any ideas - or is it just that EBO is a great stock?

:)

Best Dorothy Dixer i've read for a while

[macduffy]

Best Dorothy Dixer i've read for a while

Are you still reading those magazines, winner?

;)

[winner69]

Are you still reading those magazines, winner?

;)

No mate - learnt about Dorothy from politicians and the art of asking questions

Good ramp though

[percy]

EBO's been a great investment for us for a long time, percy but a rise of nearly 30% in less than two months makes me nervous!

Yes, the NZX is on a roll, largely as a result of lower interest rates and "experts" starting to discover and talk about the merits of equities and dividends for income. But EBO isn't exactly an income stock so either it's being caught up in the general mood or there's some other reason. Any ideas - or is it just that EBO is a great stock?

:)

Yes I am always scared of crowing about any share that has had an incredible rise. Just when you think $20 here we come it all goes wrong.!!!
So why is the sp still on its upward trajectory?
A few maybes.
Possibly the best user of capital in Australasia.
Possibly achieving one of the best stock turns of any Australasian company.
Possibly Australian intos realising EBO are a doing a huge turnover in very stable and growing sectors in Australia.Human and animal health.
Possibly investors realising EBO have the financial capacity for further acquisitions with out calling for more capital from shareholders.
Possibly investors are realising EBO's logistics/marketing are being used by EBO, to leverage their own high margin products such as Red Seal.
The board,and management are exceptional.
Summed up by the reason Zuellig's Peter Williams made when seeking re-eclection to the board."because I am having so much fun." Classic.

[Poet]

Yes I am always scared of crowing about any share that has had an incredible rise. Just when you think $20 here we come it all goes wrong.!!!
So why is the sp still on its upward trajectory?
A few maybes.
Possibly the best user of capital in Australasia.
Possibly achieving one of the best stock turns of any Australasian company.
Possibly Australian intos realising EBO are a doing a huge turnover in very stable and growing sectors in Australia.Human and animal health.
Possibly investors realising EBO have the financial capacity for further acquisitions with out calling for more capital from shareholders.
Possibly investors are realising EBO's logistics/marketing are being used by EBO, to leverage their own high margin products such as Red Seal.

Thanks Percy, I think a combination of all of those factors that you mention.
I bought a parcel just before they went ex dividend (at around $16.55) so I'm very happy so far. Though I've got to admit the quick rise is a little worrying, I hope I'm not too late to the party on this one...

[LAC]

EBO's been a great investment for us for a long time, percy but a rise of nearly 30% in less than two months makes me nervous!

Yes, the NZX is on a roll, largely as a result of lower interest rates and "experts" starting to discover and talk about the merits of equities and dividends for income. But EBO isn't exactly an income stock so either it's being caught up in the general mood or there's some other reason. Any ideas - or is it just that EBO is a great stock?

:)
Yeah I sold out recently due to the quick rise in SP, maybe I should have waited as it hit new highs yesterday. Great company and I probably will get back in at some point but the quick rise did scare me a little as well. But as percy states below, its a great business and maybe the price will get to that $20. Just not sure if it's worth the $20 so soon. Any prediction on whether they will get annual NPAT of $125m+?
Any acquisition will affect that short term I guess.

[percy]

Thanks Percy, I think a combination of all of those factors that you mention.
I bought a parcel just before they went ex dividend (at around $16.55) so I'm very happy so far. Though I've got to admit the quick rise is a little worrying, I hope I'm not too late to the party on this one...

It pays to be deaf when you own EBO.
I think another long term shareholder Macduffy would confirm you can not listen to "the noise" with EBO.
They are losing this agency,the govt is changing the rules,the opposition are moving into more of their market,people are buying smaller animals,.The list of reasons why to sell or not buy has greatly increased over the past 25 years I have held them.
The only mistake I have made is listening to that noise and selling some.Has cost me plenty to buy them back.
The AGM/ASM is a must.The sheer energy the management and the board radiate is confirmation the future does not offer EBO challenges,but opportunities.

[Poet]

It pays to be deaf when you own EBO.
I think another long term shareholder Macduffy would confirm you can not listen to "the noise" with EBO.
They are losing this agency,the govt is changing the rules,the opposition are moving into more of their market,people are buying smaller animals,.The list of reasons why to sell or not buy has greatly increased over the past 25 years I have held them.
The only mistake I have made is listening to that noise and selling some.Has cost me plenty to buy them back.
The AGM/ASM is a must.The sheer energy the management and the board radiate is confirmation the future does not offer EBO challenges,but opportunities.

OK, I'm coming along this year:)

[glennj]

I saw last nights closing price which I hadn't checked since recording the closing price at the end of last month. It's shaping to be a big paper gain this month. The ride with this share has been good and it now represents the biggest unrealised gain I've sat on ever (high 6 figures). My average entry price is just $4.91 so I've been a holder for a long while & have participated in the DRIP the allotment prices of which are included in the average entry price. I'm happy to have put my spouse, sister & a friend on to this share too. The way things are going I'm not considering selling yet and will continue to enjoy the ride.

[winner69]

Are you still reading those magazines, winner?

;)

See that question of yours was a Dorothy Dixer (of the highest calibre) - you got the quick responses and answers you were after

Well done mate

[h2so4]

I saw last nights closing price which I hadn't checked since recording the closing price at the end of last month. It's shaping to be a big paper gain this month. The ride with this share has been good and it now represents the biggest unrealised gain I've sat on ever (high 6 figures). My average entry price is just $4.91 so I've been a holder for a long while & have participated in the DRIP the allotment prices of which are included in the average entry price. I'm happy to have put my spouse, sister & a friend on to this share too. The way things are going I'm not considering selling yet and will continue to enjoy the ride.
Brilliant! You were onto it before me.
It's in the never sell category that's for sure.

[percy]

It pays to be deaf when you own EBO.
I think another long term shareholder Macduffy would confirm you can not listen to "the noise" with EBO.
They are losing this agency,the govt is changing the rules,the opposition are moving into more of their market,people are buying smaller animals,.The list of reasons why to sell or not buy has greatly increased over the past 25 years I have held them.
The only mistake I have made is listening to that noise and selling some.Has cost me plenty to buy them back.
The AGM/ASM is a must.The sheer energy the management and the board radiate is confirmation the future does not offer EBO challenges,but opportunities.

OK, I'm coming along this year:)

If you are flying into ChCh either I, or a friend of mine ,will provide transport to and from the meeting.

[macduffy]

Thanks all, for the responses. (Special mention for winner.)

Conclude, again, that EBO is just an exceptionally good company!

:)

[LAC]

Will this affect Red Seal? Does anyone know who much of Red Seal products are sent to China?

http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11621165

[kiwidollabill]

Red Seal sells alot of Molassas (product of Australia rather than NZ) into China via a distributor.

If it is off the list that sales channel may be cut...

[Lewylewylewy]

Bargain buying now or something deemed to be going wrong?

[h2so4]

Bargain buying now or something deemed to be going wrong?

Bargain buying.

[macduffy]

Bargain buying.

So it seems. Bounced back up 3.4% today!

[LAC]

Why are there on the buy side quantities like 9, 13, 24, 34, 44? Is there some reason why people would put in such orders? Is it to show high buy prices? looks really suspect.

[stoploss]

Why are there on the buy side quantities like 9, 13, 24, 34, 44? Is there some reason why people would put in such orders? Is it to show high buy prices? looks really suspect.

Hi Lac, It is my understanding , corporate accounts like fund managers can put in an order for say 100,000 shares of a particular stock for one brokerage fee. Their system or the one it is being routed through will break the order up into parcels to hide the size amongst other things . Sometimes it is done to average the price of the order out across the day .
There might be some more enlightened that can add to this ...

[Lewylewylewy]

Could be someone trying to tease the price in a direction

[winner69]

EBO some 10% off recent highs so piqued my interest if worthwhile having another go

Updated the old chart of price v eps which is below/ Still looks a bit pricey at the mo.

Over many years PE has averaged about 15. At the current price about 20 times F16 earnings

Will keep watching - the blue line might get closer to red line. If there is a sustained ( Brexit) driven market down EBO wont be immune. A PE of 12 gives a shareprice of about $10.

[h2so4]

EBO some 10% off recent highs so piqued my interest if worthwhile having another go

Updated the old chart of price v eps which is below/ Still looks a bit pricey at the mo.

Over many years PE has averaged about 15. At the current price about 20 times F16 earnings

Will keep watching - the blue line might get closer to red line. If there is a sustained ( Brexit) driven market down EBO wont be immune. A PE of 12 gives a shareprice of about $10.

Excellent!
You would be in very good company.

[macduffy]

This, a little faint praise from Morningstar:

"This Australian wholesaler of a ground-breaking Hepatitis C cure will benefit from the Turnbull government's $1-billion commitment to eradicating the disease over five years.

Ebos Group (ASX: EBO) operates a conglomerate business in Australia and New Zealand, where it provides healthcare and animal care products and services.

Its core business is in the distribution and supply of medical and pharmaceutical products in Australia and the Asia-Pacific region.

While the business was founded in 1922, its expansion by acquisition only began in the 1990s, and Ebos only reached critical mass in 2007 when it acquired Auckland-based pharmaceutical wholesaler PRNZ.

This was followed in 2013 with the purchase of Symbion, a transaction that elevated Ebos to become the second-largest Australian pharmaceutical wholesaler. This acquisition also accounts for its narrow moat rating.

"The Australian pharmaceutical wholesaler market comprises essentially three players, and is characterised by a high degree of regulation and price-setting by the government through licensing requirements and Medicare," says Chris Kallos, senior equity analyst, Morningstar.

The current excitement around Ebos stems from its involvement in distributing four new Hepatitis C treatments--Harvoni, Sovaldi, Daklinza and Ibayvr--which were listed on the Pharmaceutical Benefits Scheme in May.

"They represent medical breakthroughs in this condition, with up to 95 per cent of treated patients cured of Hepatitis C," says Kallos.

The average cost of treatment is estimated at around $100,000, with the estimated number of people affected in Australia pegged at around 230,000.

While this is an amazing medical breakthrough and excellent news for those suffering with the condition, Morningstar also believes the buzz is artificially inflating the Ebos share price.

"We consider the shares overvalued and believe this is in part due to the market's overestimation of the impact of a new generation of Hepatitis C drugs on the earnings profile of Ebos," Kallos says.

"Despite a current run rate at an industry level of around $200 million per month since listing in May 2016, according to our industry sources, we expect demand to subside over the medium term as patients are cured and the condition eradicated."


Long time NZ shareholders, including me, take a somewhat more positive view of EBO.

[h2so4]

I think what they are saying is that they don't know why the SP is well above their valuation.

[percy]

I think what they are saying is that they don't know why the SP is well above their valuation.

They are not alone.
I can't remember if at any time during the past 25 years, Ebos's share price has ever been below any brokers target price.!!..lol.

[Hectorplains]

They are not alone.
I can't remember if at any time during the past 25 years, Ebos's share price has ever been below any brokers target price.!!..lol.

The simple math on this "...average cost of treatment is estimated at around $100,000, with the estimated number of people affected in Australia pegged at around 230,000" alone... even if the treatment cost is cut by 3/4's... that's a deep, rich vein.

Anyway it's not like Ebos is selling on crazy high multiples either.

[macduffy]

The simple math on this "...average cost of treatment is estimated at around $100,000, with the estimated number of people affected in Australia pegged at around 230,000" alone... even if the treatment cost is cut by 3/4's... that's a deep, rich vein.

Anyway it's not like Ebos is selling on crazy high multiples either.

Big numbers, certainly. But does anyone have any idea of what EBO's profit margin is going to be?

[h2so4]

Big numbers, certainly. But does anyone have any idea of what EBO's profit margin is going to be?

Current profit margin from healthcare sector as per 1HY is 1.97%

[percy]

Hello ,hello hello.?????
Just when you thought it was all quiet on The Ebos Western Front,they do it again.!!
Contol of 500 Aussie pharmacies.!!
Fantastic.
Going to be another full filled agm this year.!!
Bring it on.!!

[LAC]

Hello ,hello hello.?????
Just when you thought it was all quiet on The Ebos Western Front,they do it again.!!
Contol of 500 Aussie pharmacies.!!
Fantastic.
Going to be another full filled agm this year.!!
Bring it on.!!

Was just slowly topping up over the last few weeks cos it was sooooo quiet:) I need to do a little research on TWG but it sounds from the announcement to be great news.

[Snow Leopard]

...I need to do a little research on TWG but it sounds from the announcement to be great news.

Very varied selection and great macaroons.

https://www.twgtea.com/

Best Wishes
Paper Tiger

Disc: Yes, I know it is really a different TWG.
Disc: Hold EBO

[Snow Leopard]

New all time intraday and end of day highs today from this grossly overvalued stock. :p

Best Wishes
Paper Tiger

Disc: Currently holds the bronze medal position in the Paper Tiger NZX portfolio.
Disc: Not considering selling.

[percy]

New all time intraday and end of day highs today from this grossly overvalued stock. :p

Best Wishes
Paper Tiger

Disc: Currently holds the bronze medal position in the Paper Tiger NZX portfolio.
Disc: Not considering selling.

Has held the silver medal position in my portfolio for some years .
About twice my bronze medal,but under half my gold medal.

[macduffy]

Unusually, turnover on ASX slightly exceeded that on NZX today. Is the rise being driven by the former? Belated appreciation of EBO and/or the potential value of its recent Aust pharmacy initiative?

Silver medal holder for me, too!

[h2so4]

Unusually, turnover on ASX slightly exceeded that on NZX today. Is the rise being driven by the former? Belated appreciation of EBO and/or the potential value of its recent Aust pharmacy initiative?

Silver medal holder for me, too!

Ha! That leaves me to take the Gold.
Don't fret. I'm a Kiwi.

[LAC]

Has really taken off in the last few days. Investors liking the Pharmacy news I guess

[h2so4]

New all time intraday and end of day highs today from this grossly overvalued stock. :p

Best Wishes
Paper Tiger

Disc: Currently holds the bronze medal position in the Paper Tiger NZX portfolio.
Disc: Not considering selling.

I'm a believer.

[peat]

I closed out at 17.90 y'day simply because I felt it had overrun in the short term, and despite considering this a great company I was only playing it in the short term.
in at 16.56 on the 4th so 8% in a week.

[Snow Leopard]

I'm a believer.


https://www.youtube.com/watch?v=cAN_V22G2qU

Best Wishes
Paper Tiger

[Onion]

I closed out at 17.90 y'day simply because I felt it had overrun in the short term, and despite considering this a great company I was only playing it in the short term.
in at 16.56 on the 4th so 8% in a week.

I closed out at 11.60ish :t_down: some time ago simply because I felt it had overrun in the short term, and despite considering this a great company I was only playing it in the short term.

Ho hum; the lessons we learn!

My lesson? That I am not smarter than the market. For some companies it is better to get them at a reasonable price and then let the company do its job.

[peat]

I closed out at 11.60ish :t_down: some time ago simply because I felt it had overrun in the short term, and despite considering this a great company I was only playing it in the short term.

Ho hum; the lessons we learn!

My lesson? That I am not smarter than the market. For some companies it is better to get them at a reasonable price and then let the company do its job.

hey onion you are making me cry!
yes I totally hear what you say, but please refer to http://www.sharetrader.co.nz/showthread.php?10667-Are-NZ-stocks-too-expensive-now

[LAC]

Exceeded my expectation:)
https://www.nzx.com/files/attachments/242178.pdf

[percy]

Exceeded my expectation:)
https://www.nzx.com/files/attachments/242178.pdf

Absolute stunner.What a way to start the day.!!
When I expected 12% revenue growth they did over 16.5%.
Where I expected eps to be up 12% they were up over 18% to 84cps.
Far exceeded my most optimistic expectations.
And the icing on the cake is the final divie is increased by 30% yes 30% to 32.5cps.
The outlook is for continued growth with an update to be given at the agm on 19th October.[I will be there.]
Well done Ebos.

[h2so4]

Absolute stunner.What a way to start the day.!!
When I expected 12% revenue growth they did over 16.5%.
Where I expected eps to be up 12% they were up over 18% to 84cps.
Far exceeded my most optimistic expectations.
And the icing on the cake is the final divie is increased by 30% yes 30% to 32.5cps.
The outlook is for continued growth with an update to be given at the agm on 19th October.[I will be there.]
Well done Ebos.

It sort of takes your breath away doesn't it.
What an insane result.
EBO at the top of its business cycle has entered a sustained period of prosperity.

[LAC]

An absolute cracker, I just had a look at my spreadsheet and all figures that I used for "ridiculously high" estimates have been shot. Even revenue was higher than my ridiculous estimation.
I haven't been a long holder but the more I research this company the more like it.

[Biscuit]

An absolute cracker, I just had a look at my spreadsheet and all figures that I used for "ridiculously high" estimates have been shot. Even revenue was higher than my ridiculous estimation.
I haven't been a long holder but the more I research this company the more like it.

Comprehensive income not that great though, they are taking a hit from relative weakness in Aussie dollars.

[winner69]

Comprehensive income not that great though, they are taking a hit from relative weakness in Aussie dollars.

Bear in mind these items are "Items that may be reclassified subsequently to profit or loss:"

No worries

[Biscuit]

Bear in mind these items are "Items that may be reclassified subsequently to profit or loss:"

No worries

I'm not at all knowledgeable about this. I guess EBO doesn't account for this in profit and loss because it reflects overseas "production" and sales, whereas exporters like SCL take a direct hit on currency movements between their point of manufacture and point of sales. Is that right?

[winner69]

I'm not at all knowledgeable about this. I guess EBO doesn't account for this in profit and loss because it reflects overseas "production" and sales, whereas exporters like SCL take a direct hit on currency movements between their point of manufacture and point of sales. Is that right?

Biscuits - its this

Exchange differences, principally relating to the translation from Australian dollars, being the functional currency of the Group’s foreign controlled entities in Australia, into New Zealand dollars being the Group’s presentation currency, are brought to account by entries made directly in other comprehensive income and accumulated in the foreign currency translation reserve.

The key word is 'translation' - ie converting the Aussie (and other) accounts into NZD. Day to day trading impacts are probably already accounted for in the respective country P&Ls

You be non the wiser with this explanation but no need to worry about it, just complicates things. the year before it was a big positive number.