MVN Methven

[percy]

percy - slide 38 again

multi-generational and shared living going to the way of the future

told you the kids and grandkids would come to grandpa

Thanks for the correct pages to read/look at........
I think I was right to stop at page 14..
Communal Living may be rather nice in Hamburg,but is humbug in ChCh.
Our lot would want their own bathrooms, and an out house for me at the bottom of the garden.!
Hells bells it was hard enough to get them to leave home in the first place!!!!

[winner69]

Thanks for the correct pages to read/look at........
I think I was right to stop at page 14..
Communal Living may be rather nice in Hamburg,but is humbug in ChCh.
Our lot would want their own bathrooms, and an out house for me at the bottom of the garden.!
Hells bells it was hard enough to get them to leave home in the first place!!!!

They be back, mark my words

Might make you want tonshiftbto Ryman earlier than you planned

[percy]

If it was before page 14 I missed it.
I gave up at page 14.
Please give me the page number because I just can't bring myself to read the drivel again.
74 pages.Must be for the true believers.I am of very little to no faith,!!

It would appear I am not the only one with no faith.!!!
The sp is still $1.13...

[stoploss]

Didn't MVN market satinjet in America ??????

http://www.marketwatch.com/story/water-efficient-shower-nebia-raises-more-than-13-million-on-kickstarter-2015-08-13

[kiwi_on_OE]

Could get interesting if Nebia and MVN use the same process and MVN have a US patent

[BlackPeter]

Didn't MVN market satinjet in America ??????

http://www.marketwatch.com/story/water-efficient-shower-nebia-raises-more-than-13-million-on-kickstarter-2015-08-13

Thanks for highlighting this - yes, could either be a threat or an opportunity for MVN. I took the liberty to contact them for a comment and will report back if I hear from them.

[stoploss]

Thanks for highlighting this - yes, could either be a threat or an opportunity for MVN. I took the liberty to contact them for a comment and will report back if I hear from them.

I have since spoken to a director of the company . Apparently there are 6 patents worldwide in relation to water flow and shower heads . Methven holds two of them . They will take a look .

[winner69]

Sure was an impressive presentation and look at those numbers - $13m in 2018

What can one make out of it - maybe lots

Lets assume 5 outcomes -

1.- it all goes to plan and that $13m happens
2.- above but the market is in raptures and rerates Methven, ie a higher PE
3.- sort of goes to plan but they only get half way there
4.- its all pretty pictures and nice words and Methven struggle on as usual
5.- another GFC hits and it all turns to custard

Possible outcomes in graphic. Shows Total Shareholder Return over the 3 years and I have assigned some odds to each scenario

Could get a return of 42% pa over 3 years or lose 6% over the three years. But based on the odds I have assigned to each scenario an expected return of 20%pa

Bloody good eh

But then some of you might assign 90% to scenario 4 which ruins the story

Hmmm - have I been seduced

Looks like Scenario 4 is playing out

No, I was not seduced

[tim23]

Result due soon that will tell, they are one of those companies that seldom post much to NZX; PGG, TTK and HLG are some others that make minimal announcements too.

[BlackPeter]

Result due soon that will tell, they are one of those companies that seldom post much to NZX; PGG, TTK and HLG are some others that make minimal announcements too.

Are you sure? Looking at their published key dates (http://www.methven.com/nz/corporate/investor-information/key-dates): half year results are due in February (remember - they changed their year end date from March 31 to June 30 - i.e. this financial year is for them 15 months), i.e. they might only come back in 2016.

Still - some interim announcement (after 6 months in FY2016) would be nice, but given their history in outstanding shareholder communications (anybody spotting the irony?) am I not sure, whether I would hold my breath.

[winner69]

With Methven no news is generally good news

[tim23]

BlackPeter - I am sure check for yourself, you can look at announcements over last few years to see what I mean.

[Valuegrowth]

Can Methven Limited benefit from lower NZD in the coming years?

[tim23]

Should benefit as has overseas operations.

[Valuegrowth]

Should benefit as has overseas operations.

Thank you tim23. Lower NZD is not bad as some others think. There may be plenty of opportunities. It is time to identify them.

[BlackPeter]

BlackPeter - I am sure check for yourself, you can look at announcements over last few years to see what I mean.

Hi Tim - this is a good example for "past events not being an indicator for future events ;)". Sure, in the past Methven had the end of their financial year in March ... which meant half year reporting in November and full year in May.

It might have slipped your attention that they moved the end of the financial year out to June, which means this financial year has 15 months, which makes it sort of unclear when their "half year" reporting is supposed to happen (after 6 months or after 9 months or somewhere in between). What is clear is that the next full year results will be released in August 2016 ... and if the information on their website (http://www.methven.com/nz/corporate/investor-information/key-dates) is correct, than we will need to wait until February for the half year update ... but I guess time will tell.

[winner69]

Half Year this year will be 9 months to December. No real comparatives to prior periods likely

Tricky stuff eh

Did they say why the change? Sometimes a 'red flag' changing balance dates.

[stoploss]

This new shower head is brilliant ...... ( especially with the water restrictor out ) Hopefully this will boost sales , the ladies in the house have even started to use my shower :)

http://www.methven.com/nz/showering/shower-handsets/aio-aurajet-shower-handset

[BlackPeter]

Half Year this year will be 9 months to December. No real comparatives to prior periods likely

Tricky stuff eh

Did they say why the change? Sometimes a 'red flag' changing balance dates.

They did ... they said that they want to enhance the "predictability of financial forecast" - but why not just use their own words (from the 2015 annual report):

7677

I am sure that the fact that they now have 15 months to beat the usual 12 month results was far off their mind when they made this decision (though who knows, maybe they like the 15 month years so much that they continue running them;)

[winner69]

Things really firing down Methven way

Profits up 20% last 6 months

And for you divie lovers a special 3 cent bonus coming for Xmas

https://www.nzx.com/files/attachments/224311.pdf

[BlackPeter]

Things really firing down Methven way

Profits up 20% last 6 months

And for you divie lovers a special 3 cent bonus coming for Xmas

https://www.nzx.com/files/attachments/224311.pdf

Wow - looks quite good - I am sure this will put a bit of fire under the share price ;).

We must give them as well that they seemed to be quite tight lipped about the good financial results - hardly any noticeable pre-announcement SP rise ...

[Snow Leopard]

Looks good at first glance and obviously the company itself is pleased as.

Last 6 months NPAT up 20% on what prior period? I can assume but do not know.

The rolling year to Jun compared to Mar is also good but they used to complain about seasonality (or was that someone else?), so just a tiny bit of doubt at the back of my mind on what this means going forward.

Anyway not to look a gift horse in the mouth, to back it both ways, and to justify having kept them in the portfolio - I always knew they were going to turn it up a notch.

Best Wishes
Paper Tiger

[percy]

Well I am about to eat my hat.!
Always happy to be proved wrong.

[BIRMANBOY]

That would explain your constantly sunny disposition Percy.....:p Just kidding of course...theres no such thing as definitively right or wrong just a constant shift of movement so wait a while and you may be right!!! Hopefully its readily digestible hat.
Well I am about to eat my hat.!
Always happy to be proved wrong.

[tim23]

Should re-rate further if/when market convinced growth is sustainable, if it is $1.50 looks well achieveable.

[BlackPeter]

Looks like good news come in swarms ... MVN was granted a (up to) $3 million subsidy of their R&D cost - 20% of R&D cost for the next 3 to 5 years:

https://www.nzx.com/files/attachments/224359.pdf

Though I don't like the system of the government picking winners ... I guess as long as we can't change it, it is probably better if companies I am holding are receiving these grants as opposed to companies I am not holding ...;)

Discl: holding ...

[Snow Leopard]

...Though I don't like the system of the government picking winners ...
They have also given a grant to PEB :p

Best Wishes
Paper Tiger

[tim23]

Another good day in another weak market, not sure if the charties picked this one? My $1.50 would be 6% net assuming 8c per share.

[winner69]

Sure was an impressive presentation and look at those numbers - $13m in 2018

What can one make out of it - maybe lots

Lets assume 5 outcomes -

1.- it all goes to plan and that $13m happens
2.- above but the market is in raptures and rerates Methven, ie a higher PE
3.- sort of goes to plan but they only get half way there
4.- its all pretty pictures and nice words and Methven struggle on as usual
5.- another GFC hits and it all turns to custard

Possible outcomes in graphic. Shows Total Shareholder Return over the 3 years and I have assigned some odds to each scenario

Could get a return of 42% pa over 3 years or lose 6% over the three years. But based on the odds I have assigned to each scenario an expected return of 20%pa

Bloody good eh

But then some of you might assign 90% to scenario 4 which ruins the story

Hmmm - have I been seduced

That was my little analysis after that July presentation they did

Looks like the pumping on steroids Scenario is playing out - shareprice $2.58 in 2018 for a 42% pa return

No I wasn't seduced bck in July ..... share price much the same as back then so plenty of time to get seduced again

[tim23]

I like Stride 2 but Stride 1 would be just fine!

[winner69]

I like Stride 2 but Stride 1 would be just fine!

Maybe things have really changed (after all Percy has eaten his hat) and this time the dreams will turn into reality

You obviously have the faith Tim

[BIRMANBOY]

Maybe you could be seduced by this model?
Methven showered with praise

Design
March 10, 2010
Ben Fahy
4 comments (http://stoppress.co.nz/news/methven-showered-with-praise#disqus_thread)

http://stoppress.co.nz/media/VERSIONS/uploads/2010/03/Methven-HomeSpa-girl-in-shower_article-hero.jpg
http://stoppress.co.nz/media/images/uploads/2010/03/Methven-HomeSpa-girl-in-shower-255x200.jpg (http://stoppress.co.nz/images/uploads/2010/03/Methven-HomeSpa-girl-in-shower.jpg)Methven, the New Zealand-owned designer, marketer and exporter of water and energy efficient bathroomware, has won a Red Dot Product Design Award at the 2010 competition in Germany for its Shower Infusions, a system that "transforms a daily shower into a luxurious, mood enhancing spa experience", as can be seen from the reaction of this showering naked lady.
Methven was awarded an honourable mention and the right to use the Red Dot seal of quality on its collateral to signify the product design and innovation behind Shower Infusions, which are dispensed from an ingenious, easy-to-install pod, is among the world's best (speaking of the world's best, Auckland design outfit Alt Group picked up a few Red Dots (http://stoppress.co.nz/news/2009/12/alt-group-covered-in-red-dots/) recently too).

That was my little analysis after that July presentation they did

Looks like the pumping on steroids Scenario is playing out - shareprice $2.58 in 2018 for a 42% pa return

No I wasn't seduced bck in July ..... share price much the same as back then so plenty of time to get seduced again

[Snow Leopard]

With the rise over the last couple of days I am nearly at break even on MVN:
dividend = capital loss so just down by the brokerage.

Plan A said I would sell if they got down to $1.10;
Plan B saw me on extended holidays and coming back to a $1.00 price.

But the current trend can be your friend.

...now where is my copy of Plan C...

Best Wishes
Paper Tiger

[stoploss]

With the rise over the last couple of days I am nearly at break even on MVN:
dividend = capital loss so just down by the brokerage.

Plan A said I would sell if they got down to $1.10;
Plan B saw me on extended holidays and coming back to a $1.00 price.


But the current trend can be your friend.

...now where is my copy of Plan C...

Best Wishes
Paper Tiger

Plan C was " Double Up ".....

[Snow Leopard]

Got an email today from Methven which starts

'Dear Shareholder'

so I guess I still have some of these, although I did ignore 'Plan C'.

Anyway they keep winning awards, apparently this time in Chicago:
Aurajet Aio - Best Performance By a Shower in a Cleaning Role;
Aio Tapware - Most Nuanced Temperature Control in a Faucet.

(I may have made the awards up)

Announcement PDF (https://nzx.com/files/attachments/228819.pdf) << Hey look they told everyone not just me!

May be the share price will start going up again now?

Best Wishes
Paper Tiger

[percy]

I wish you luck Paper Tiger with your MVN,but I do note "130 years of innovation and passion for design" has not been exactly profitable for shareholders;\
11 years -35.29%
5 years -34.52%
2 years -22.54%
1 year -8.33%.

[Snow Leopard]

Whilst being the first to admit that I would have done slightly better to have kept my MVN purchase money under the mattress so far, it is all about the future and we will see if they can inspire us with their 9 months half year results in February.

Best Wishes
Paper Tiger

[BIRMANBOY]

Always looking to top up at 1.10....been a while since its this low. At 1.12 returning 6.25% plus imputation credits roughly 8.75 % gross for me currently. Gradually reducing dividend over the years but has been quite reliable. So not all gloom and doom.

[BlackPeter]

HY results are out: https://www.nzx.com/files/attachments/230669.pdf

While it is sort of difficult to be excited about Methven results (well, over the last 6 years or so) ... it is the first time in that many years that they managed to increase their revenue (and as well their earnings), and that they even managed to reduce debts by 10% or so. Nothing extraordinary (and revenue still ways behind the 130 million they had in 2010 - and want to achieve again in 2018), but at least are they so far at the upper end of this years guidance and predict that their year end will be as well at the upper end (which would end up in something like $105m). Still a long way to get back to $130m in 2018, but at least it looks like they managed to catch the corner ...

Discl: cautiously optimistic and (still) holding a small parcel.

[tim23]

Think market will re-rate when/if delivers sold next result has flattered too often in past, I'm happy holder

[Snow Leopard]

Whilst being the first to admit that I would have done slightly better to have kept my MVN purchase money under the mattress so far, it is all about the future and we will see if they can inspire us with their 9 months half year results in February.

Best Wishes
Paper Tiger

So we are now beating the mattress and running on par with the bank.
Like the result and dividend.

Nearly been been worth buying after all.


Best Wishes
Paper Tiger

[tim23]

See Salt have upped their stake feel turnaround starting to happen...

[Snow Leopard]

Hit a 12 month high today - as did the Methven Share Price.

Add in the recent 4c dividend and I am showered in good fortune.

Lost somewhere in the mist-jet of time is the reason why I bought these, but it is nice that for a brief moment at least they have come good.

Fundamentally I see only a little more upside but then again I have no reason to sell them.

Best Wishes
Paper Tiger

[tim23]

Feel tide has definitely turned per my earlier thoughts, if it can re-rate as a growth stock I can see post $1.50 soon.

Hit a 12 month high today - as did the Methven Share Price.

Add in the recent 4c dividend and I am showered in good fortune.

Lost somewhere in the mist-jet of time is the reason why I bought these, but it is nice that for a brief moment at least they have come good.

Fundamentally I see only a little more upside but then again I have no reason to sell them.

Best Wishes
Paper Tiger

[percy]

I wish you luck Paper Tiger with your MVN,but I do note "130 years of innovation and passion for design" has not been exactly profitable for shareholders;\
11 years -35.29%
5 years -34.52%
2 years -22.54%
1 year -8.33%.

As always,nice to be proved wrong.
MVN is certainly performing.
Looking good for those of you who are holding.

[janner]

As always,nice to be proved wrong.
MVN is certainly performing.
Looking good for those of you who are holding.

With no comment for those that maybe thinking about throwing their money in that direction ??

Come on perc..

Are you buying ??

[percy]

With no comment for those that maybe thinking about throwing their money in that direction ??

Come on perc..

Are you buying ??

No.....................................
But enjoy seeing you do well.

[tim23]

Hit $1.35 friday nice little re-rating starting to happen

[tim23]

Another week gone, a little firmer again - my $1.50 is getting closer...

[BIRMANBOY]

I didn't realize the pills were that cheap:p
Another week gone, a little firmer again - my $1.50 is getting closer...

[Snow Leopard]

Whilst not the most spectacular success in the Paper Tiger Investment Portfolio neither is it the worst.

I appear to be on a nice little capital gain that is beating the bank plus I have had 11c after tax in dividends in the last year, though that as a one-off element to it and I am not expecting that to be maintained.

Hoping that steady and uneventful progress is the future.

Best Wishes
Paper Tiger

[winner69]

One of the quiet achievers these days

Just get on with making money with no fuss

All is forgiven for past misdemeanours

https://www.nzx.com/files/attachments/242188.pdf

[percy]

Yes a surprisingly good result.

[couta1]

Yes a surprisingly good result. Careful Percy, soon you'll talk yourself into buying some.

[percy]

Careful Percy, soon you'll talk yourself into buying some.

lol.
No danger of that.!

[Snow Leopard]

Real earnings of $0.11 a share, aiming at $0.12 >> $0.13 next year - Nice.

Cash-flow - nice.

Dividend - nice.

It can stay in the portfolio.

Best Wishes
Paper Tiger

[tim23]

Great result and presentation market finally woke up to the fact late in the day

[BlackPeter]

Hmm - don't really follow this company anymore (sold out some time ago), but the recent SP movement coinciding with the AGM caught my eye.

A cursory look over the presentation didn't reveal anything terrible ... results solid (though not inspirational) - so what happened which let the SP behave like a lead balloon released from an airplane?

Is it just that the crowd slowly realises that the 130 target might be further away than another 2 years given the predicted growth rate?

Anything else I missed in the presentation?

[percy]

I think you may have missed two words in the trading update,;
Challenging.
Cautiously.

[BlackPeter]

I think you may have missed two words in the trading update,;
Challenging.
Cautiously.

You are right ... now that you say it ...


The first three months of FY 17 have been challenging in Australia caused by
us not recovering the impact of AU$ devaluation and also due to the impact on
market demand as a result of Masters’ clearance activity. For those of you
who aren’t aware, Masters is the No. 2 DIY retailer in Australia (though not a
big Methven customer), with 62 stores and revenue of A$1.1 billion. Owned by
Woolworths, they confirmed plans to close their entire operation by December
this year, creating a significant one-off impact to the market.
The Board cautiously maintains our full year guidance, though recognise this
one-off market impact may cause some variation between our first and second
half results.


In a speech going over 19 pages - isn't it amazing what difference two words can make ;) ?

[winner69]

And Blackcap - they mentioned one of your favourite topic in BREXIT .......and a material impact whatever that means

First NZ company to mention BREXIT - no doubt others will conveniently use it as an excuse when needed

[Snow Leopard]

5 consecutive days of above average volume with a little downward pressure on the share price.

Depending upon the time frame and your state of mind you can read both good and bad from the chart.


Hoping that the fundamentals, are basically sound
and not too affected by, the British pound
that in Australia, where it is very hot
they are cooling down, by showering a lot.

Best Wishes
Paper Tiger

[percy]

Much more downward pressure, and the sp will be down the plug hole.
Share price at $1.27 is below the 100 day EMA $1.29, and the 200 day EMA $1,28.

[Snow Leopard]

Much more downward pressure, and the sp will be down the plug hole.
Share price at $1.27 is below the 100 day EMA $1.29, and the 200 day EMA $1,28.

and at $1.30 it is now back above any reasonable EMA you care to name.

Always be wary of being chain-sawed out of a stock.

Best Wishes
Paper Tiger

[tim23]

Agree its thinly traded rather wait for result to judge whrre share price should be

[percy]

and at $1.30 it is now back above any reasonable EMA you care to name.

Always be wary of being chain-sawed out of a stock.

Best Wishes
Paper Tiger

And a buyer at $1.31..?

[percy]

From today's announcement;
"It's still important to recognise these results are not in line with our capability or expectations."
Well they were in line with mine.!!!...lol.
sp today finished at $1.26 which is below both the 100day EMA $1.29, and the 200 day EMA $1.28.
Looks as though MVN shareholders live in interesting times.!!

[winner69]

From today's announcement;
"It's still important to recognise these results are not in line with our capability or expectations."
Well they were in line with mine.!!!...lol.
sp today finished at $1.26 which is below both the 100day EMA $1.29, and the 200 day EMA $1.28.
Looks as though MVN shareholders live in interesting times.!!

but percy the dreams will burst into reality .......and we will have egg on our face

[stoploss]

Very small shareholder , they have some fantastic products but just don't seem to get them out there .....
This shower head is superb ...maybe too good , seems my daughters and assorted friends and boyfriends spend way too long in the shower judging by my gas bill.

https://www.methven.com/nz/collections/aio/

[percy]

Very small shareholder , they have some fantastic products but just don't seem to get them out there .....
This shower head is superb ...maybe too good , seems my daughters and assorted friends and boyfriends spend way too long in the shower judging by my gas bill.

https://www.methven.com/nz/collections/aio/

May be a case of buy their products,but not their shares.!!

[winner69]

Very small shareholder , they have some fantastic products but just don't seem to get them out there .....
This shower head is superb ...maybe too good , seems my daughters and assorted friends and boyfriends spend way too long in the shower judging by my gas bill.

https://www.methven.com/nz/collections/aio/

......all together?

[stoploss]

......all together?


More fun that way :)

https://www.youtube.com/watch?v=k-DxHWCOCq0&list=RDk-DxHWCOCq0#t=0

[Snow Leopard]

Sold my Methven shares for $1.29 this week and thus have no financial interest in them any more.

So the result does not look too flash on the surface and the prognosis for full year is definitely not that flash.

Hopefully things will be 'flasher' next year.

Best Wishes
Paper Tiger

[h2so4]

Sold my Methven shares for $1.29 this week and thus have no financial interest in them any more.

So the result does not look too flash on the surface and the prognosis for full year is definitely not that flash.

Hopefully things will be 'flasher' next year.

Best Wishes
Paper Tiger

Their business review says everthing is on track ha! Mind you the dividend looks like a Claytons dividend.

[winner69]

Shame George can't accept this honour in person

In spirit though ....and proud of his company no doubt

https://nzx.com/files/attachments/254409.pdf

[winner69]

Oh dear - MVN up to their old tricks

https://www.nzx.com/files/attachments/258227.pdf

How often do companies actually recover a bad H1 in H2 - not many I reckon

[bottomfeeder]

I am guessing they may go as low as $1-02, thats where my buy order is sitting. Or maybe $1-00, ooh so many sellers.

[Ggcc]

On what a previous employee of methven told me, I would be careful hopping into this share... it will get interesting times after the directors get their bonuses.... Mind you I don't know him. He was only in sales and it is only one mans opinion. Maybe a disgruntled employee? DYOR before taking this as gospel

[winner69]

So the 10% to 20% increase in NPAT over F16 is going to be a decline of 15% ......Wow, they must have seen this happening long before now.

All in constant currency terms - that way of reporting alone can hide a few sins

[hardt]

I do find it odd that 3 funds reduced their holdings substantially the month prior to a fat ugly downgrade :confused:

[winner69]

I am guessing they may go as low as $1-02, thats where my buy order is sitting. Or maybe $1-00, ooh so many sellers.


A buck seems to be as long as it goes - like 2008 and 2012 and 2015

But this time it may be different

No surprise with this announcement is there percy?

[percy]

A buck seems to be as long as it goes - like 2008 and 2012 and 2015

But this time it may be different

No surprise with this announcement is there percy?

Correct W69,
No surprises here.
Serial under performer status confirmed.

[winner69]

Correct W69,
No surprises here.
Serial under performer status confirmed.

They at least make a profit

Wouldn't be so bad if they didn't keep on raving on how great they are and that profits will continue to grow and grow.......and the market seems to fall for that crap.

Is this what 130 years of innovation produces

[stoploss]

They at least make a profit

Wouldn't be so bad if they didn't keep on raving on how great they are and that profits will continue to grow and grow.......and the market seems to fall for that crap.

Is this what 130 years of innovation produces

Sadly they have a great product- the AIO shower head is awesome https://www.methven.com/nz/collections/aio/
Seems they have a problem with sales and marketing .......

[percy]

Sadly they have a great product- the AIO shower head is awesome https://www.methven.com/nz/collections/aio/
Seems they have a problem with sales and marketing .......

Buy the product,not the shares.
W69.Makes life easy for us.
Some companies do what they say they will do,others don't.
MVN is a don't...Avoid.

[winner69]

Sold my Methven shares for $1.29 this week and thus have no financial interest in them any more.

So the result does not look too flash on the surface and the prognosis for full year is definitely not that flash.

Hopefully things will be 'flasher' next year.

Best Wishes
Paper Tiger

Good call that was eh PT

Will you be seduced by the glossy presentations and hype again - you could make heaps again.

[couta1]

Haven't owned any of these for a couple of years, bit like back to the future aye. Shame because anyone who likes quality uses their products, put a MVN tap in a retirement village and it's the last one you will install, not like most other crap brands they install and have to change them out every few years because they can't handle the heavy usage.

[SilverBack]

Three SSH all sell down prior to downgrade announcement. So much for FMA insider trading action. Reminds me of Hogan's Heros and Sargeant Schultz "I know nothing, nothing". FMA should be renamed Kolonel Klink.

[winner69]

Yesterday's announcement doesn't tell the full story

They say they haven't recovered enough from a bad 1st half to meet guidance - on the face of it it appears they have made less in H2 than last year. That's going backwards - declining profits

And doesn't this 15% less profit in constant currency terms mean reported profits will be down even more?

Maybe too embarrassing to say whats really happening

[winner69]

I reckon FY eps will be about 8 cents - so at PE of 10 gives share price of 80 cents

But they'll jack the divie up to 7 cents which will support a share price of 100

But then again the future looks bright

[winner69]

CEO on radio this morning basically said they haven't delivered to plan in NZ and Australia this year - maybe the plans weren't that good

Lets blame the consumers and the plumbers for not buying their stuff ...hmmm wonder why

[hardt]

Parents redid their bathroom and the entire consultation period they were pressured into the euro brands Elementi and Parisi... and of course they gave in.

Methven need to have some boots on the ground marketing with the people who can actually sway customers... old fashioned commission based model for the retailer/contractor to push heavily into selling their product - you gotta have some sleezy salesmen pushing it onto customers.

[winner69]

Parents redid their bathroom and the entire consultation period they were pressured into the euro brands Elementi and Parisi... and of course they gave in.

Methven need to have some boots on the ground marketing with the people who can actually sway customers... old fashioned commission based model for the retailer/contractor to push heavily into selling their product - you gotta have some sleezy salesmen pushing it onto customers.

Yes, getting products 'specified' is key to success in the building / renovation game.

Cavalier another company that struggles in this area (esp in Australia)

[winner69]

Methven ain't broken or going bust. Just a solid company where ongoing innovation keeps them in the game.

It's just they have these allusions of grandeur giving false hope .....and as Percy says rarely delivering on what they say they will do.

[winner69]

Sadly they have a great product- the AIO shower head is awesome https://www.methven.com/nz/collections/aio/
Seems they have a problem with sales and marketing .......

You should buy the company (like that razor guy) .......and sort it out

Going cheap

[whome]

Haven't owned any of these for a couple of years, bit like back to the future aye. Shame because anyone who likes quality uses their products, put a MVN tap in a retirement village and it's the last one you will install, not like most other crap brands they install and have to change them out every few years because they can't handle the heavy usage.
MVN used to be the gold standard. Every plumber installed them cos they rarely gave trouble and did not leak. The slide began about 2014 when production moved to China and the quality of tap ware cartridges declined, and leaked or gave problems after a year or two. When a shower mixer behind the shower wall leaks, it is usually not seen until much damage is done. Has caused Plumber angst, and what happens when you piss off your major customer base! Ask the Plumbing wholesalers, their guys behind the counter know whats going on. MVN have traded on their good name but it's wearing thin. Still not a lost cause if they act now to correct quality issues as MVN is a strong brand in NZ and Aus. Disc. Had a bathroom Reno business.

[percy]

Methven ain't broken or going bust. Just a solid company where ongoing innovation keeps them in the game.

It's just they have these allusions of grandeur giving false hope .....and as Percy says rarely delivering on what they say they will do.

Reading MVN's page after page in their presentations,I think they try to do too much.After page 14 I usually give up.
As other posters have suggested ,concentrating on strengthening their sales force may produce results.
As W69 said getting products 'specified' is the key to success.

[winner69]

I am guessing they may go as low as $1-02, thats where my buy order is sitting. Or maybe $1-00, ooh so many sellers.


Maybe tomorrow bf

[winner69]

MVN one of the stars of the bourse today

No 102 for you bottomfeeder

[bottomfeeder]

Maybe its a good thing. We will see.

[stoploss]

Wonder if he could bring the manufacturing back to NZ and make Methven "Great" again ....
http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11861405

[percy]

Usual result;Profit down, debt up.
No surprises here.
Reputation of being a serial underperformer remains intact.

[Marilyn Munroe]

The slide began about 2014 when production moved to China and the quality of tap ware cartridges declined, and leaked or gave problems after a year or two.

China can make quality products if you want them to. However it takes effort time and money to convince your suppliers that you as a round-eye are serious about quality.

Once things are going along smoothly the quality and standards you have struggled to achieve are bedded in a line of products branded Mothvun appear on the market which are the same quality but cheaper manufactured by guess who.

Boop boop de do
Marilyn

[winner69]

Usual result;Profit down, debt up.
No surprises here.
Reputation of being a serial underperformer remains intact.

Its all honky dory for the future though Percy

Fit 4 the Future will see to that

[percy]

Its all honky dory for the future though Percy

Fit 4 the Future will see to that

Always has been.
But has never happened.!

[winner69]

Always has been.
But has never happened.!

0ne of those gunna companies eh percy

People would respect them more (or not laugh at them) if thry didn't tout themselves as a growth company - just own up to be a 'solid' and 'consistent' performer and punters won't be regularly disappointed

[percy]

0ne of those gunna companies eh percy

People would respect them more (or not laugh at them) if thry didn't tout themselves as a growth company - just own up to be a 'solid' and 'consistent' performer and punters won't be regularly disappointed

Never guna happen.
Returns from serial underperformer,without dividends.
1 year down from $1.36 to $1.12......minus 17.7%
2 year up... from. $1.05 to $1.12.......up......6.67%..Something went wrong.
5 year down from $1.30 to $1.12......minus.13.85%
10 year down from $2.50 to $1.12 ...minus 55.2% .now that's incredible..
I have to thank that fella Fella for not returning my call.

[couta1]

Not a bad punt at around $1 for a bond style type investment, they have been around since the horse and cart, and will probably still be here when all cars are electric.

[percy]

Well I read the chair's address,the CEO's address, and the presentation.
Great stuff.
As W69 would point out "a great gunna company."

Couta1,, please don't do it.!!!..Don't even think about it...... lol.

[winner69]

The $600m has taken an interest in Methven

Did say it’s overvalued and share price held up by dividend but the dividends should have been reinvested in the business. Obviously sees potential if they do invest more ....and do things better of course (that’s my bit)

http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11939359



maybe it gunna to happen

[minimoke]

The $600m has taken an interest in Methven

Did say it’s overvalued and share price held up by dividend but the dividends should have been reinvested in the business. Obviously sees potential if they do invest more ....and do things better of course (that’s my bit)

http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11940222



maybe it gunna to happen
I stopped reading at the start of para 2 when Mary Holm said "
I started saying that no other investment is backed by the government, " which is patently incorrect

[winner69]

I stopped reading at the start of para 2 when Mary Holm said "
I started saying that no other investment is backed by the government, " which is patently incorrect

What a disaster ...I posted a link to a Mary Holm article. Stupid computer - honest I wasn’t reading Mary

Should have been about the guy who sold his company for $600m

http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11939359

[tim23]

Slight firming lately admittedly on light volume but better trend may be in play - buyers thinking got a bit cheap around the dollar mark.

[winner69]

Pretty stunning result

Extract -Normalised NPAT increasing by 11.8%

Thats pretty damn good

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/MVN/314903/275517.pdf

[winner69]

percy - presentation is only 22 pages ....not too many pictures this time

[percy]

percy - presentation is only 22 pages ....not too many pictures this time

Managed getting past the first page,started losing interest on page two,and gave it away on page three.
Loved the international sales ACCELERATE,and Fit 4 the future on track.! The excitement builds [again]...lol.
Bugger NZ tap ware UNDER PERFORMS....
I really needed the pictures.

[winner69]

Good on them

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/MVN/316515/277376.pdf

Won't make them any more money but all this 'innovation' stuff keeps then in the game for longer ...innovate to survive is the game

[winner69]

Another great move by MVN .....won’t make them any more money but keeps them in the game longer.

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/MVN/321705/283877.pdf

Percy, don’t we love all the buzzwords in MVN announcements ...compelling, passionate commitment, enabled elevation etc etc ....hope they come out with another glossy presentation soon.

[BlackPeter]

Hmm - don't follow them anymore. But somehow does in their context the number 130 come up. Wasn't that their big strategic plan to reach at some stage $130 m revenue (per year, I suppose)? Anybody still remembering which particular year they targeted and how they are going towards this goal?

[forest]

I have a note with company target of $130m revnue for the year 2020.

[percy]

Another great move by MVN .....won’t make them any more money but keeps them in the game longer.

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/MVN/321705/283877.pdf

Percy, don’t we love all the buzzwords in MVN announcements ...compelling, passionate commitment, enabled elevation etc etc ....hope they come out with another glossy presentation soon.

Another awesome announcement.
Yes we wait with a sense excitement for their next glossy long winded presentation.
It will be stunning.
One of the market's great mysteries, that MVN's performance never matches promises.
May be it is different this time,?

[BlackPeter]

I have a note with company target of $130m revnue for the year 2020.

Cheers - and what a relieve ... I guess they still can get there, can't they ;)?

Noting though, that analyst consensus for 2020 is only 119 m (http://www.4-traders.com/METHVEN-LIMITED-6497648/financials/). How come the analysts are that downbeat, that's not how I remember them ...?

[winner69]

Another awesome announcement.
Yes we wait with a sense excitement for their next glossy long winded presentation.
It will be stunning.
One of the market's great mysteries, that MVN's performance never matches promises.
May be it is different this time,?

They actually don’t do that bad (performance and financial wise) .....it’s just that they think of themselves as a growth company and tout that to the disappointment of the market.

If they said that they were really just a solid company that keeps innovating and doing other good things to stay in the game they probably would be quite well thought off and as a reliable dividend paying company some of us wouldn’t mock them.

[forest]

Cheers - and what a relieve ... I guess they still can get there, can't they ;)?

Noting though, that analyst consensus for 2020 is only 119 m (http://www.4-traders.com/METHVEN-LIMITED-6497648/financials/). How come the analysts are that downbeat, that's not how I remember them ...?

Mm, can not answer that BP, you have to asked the analysts. I think however their could be signs of better things to come.

[BlackPeter]

Mm, can not answer that BP, you have to asked the analysts. I think however their could be signs of better things to come.

That's interesting. Do you want to share with us why you think that?

[forest]

That's interesting. Do you want to share with us why you think that?

I have toured both their old Auckland factory and there replacement new factory. The old factory had a very old feel to it, a bit like a working museum.
The layout was inefficient. The new factory is set up efficient for their processes and has spare capacity for growth. I noticed the production manager challenging the sales force too increase sales, as far as the production manager was concerned he was more than ready to crank production up. This banter was music to my ears.
I also notice that 2 independent directors and the Chairman purchased shares last year in September, Ritchard Cutfield, Steve Tucker and Alison Barrass respectively.
David Banfield the CEO who has been in this position now for a few years is putting his stamp on MVN.

[percy]

I have toured both their old Auckland factory and there replacement new factory. The old factory had a very old feel to it, a bit like a working museum.
The layout was inefficient. The new factory is set up efficient for their processes and has spare capacity for growth. I noticed the production manager challenging the sales force too increase sales, as far as the production manager was concerned he was more than ready to crank production up. This banter was music to my ears.
I also notice that 2 independent directors and the Chairman purchased shares last year in September, Ritchard Cutfield, Steve Tucker and Alison Barrass respectively.
David Banfield the CEO who has been in this position now for a few years is putting his stamp on MVN.

Always a pleasure to hear you are still doing the hard yards with factory visits, and talking to the production manager etc,rather than us poor souls, who base our MVN views on their optimistic presentations.

[winner69]

Nice looking retail store in China

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/MVN/322830/285344.pdf

[percy]

A NZ manufacturer opening retail stores in China.?
Makes no sense to me.
Take care.

[stoploss]

A NZ manufacturer opening retail stores in China.?
Makes no sense to me.
Take care.

Might be the ultimate compliment Percy :)

https://9to5mac.com/2018/02/07/fake-apple-service-center-china/

[percy]

Might be the ultimate compliment Percy :)

https://9to5mac.com/2018/02/07/fake-apple-service-center-china/

Do you see anyone being in a hurry to set up a fake Methven store.?

[janner]

Do you see anyone being in a hurry to set up a fake Methven store.?

Quality will out.... :-)))

[percy]

Quality will out.... :-)))

Well after 100 years ,and with a market cap of approx. $77 mil, it has not really willed out for MVN.
Offcourse the next 100 years will be different.?

[janner]

Well after 100 years ,and with a market cap of approx. $77 mil, it has not really willed out for MVN.
Offcourse the next 100 years will be different.?

It is always different .. Whether this next year or the ninety nine following one's...

You know that from well learnt experience... Da ??.

Put it on your " Watch list "..

[tim23]

Same old tomorrow I guess - prepared to be underwhelmed...

[winner69]

Same old tomorrow I guess - prepared to be underwhelmed...

ASTOUNDING, STUNNING are two words to describe the result

Nearly everything is positive and in most cases in a big way

Only onwards and upwards from here for the company ...

.......and the share price. I reckon $1.50 by Christmas and if this growth continues $2.00 this time next year. Got my order in already

No longer a dog is Methven.

A must read

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/MVN/322959/285619.pdf

[percy]

ASTOUNDING, STUNNING are two words to describe the result

Nearly everything is positive and in most cases in a big way

Only onwards and upwards from here for the company ...

.......and the share price. I reckon $1.50 by Christmas and if this growth continues $2.00 this time next year. Got my order in already

No longer a dog is Methven.

A must read

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/MVN/322959/285619.pdf

That's an incredible result.!

[percy]

That's an incredible result.!

Even more incredible is I brought some this morning at the open,paying $1.06 ps...………….lol.

[McGinty]

Even more incredible is I brought some this morning at the open,paying $1.06 ps...………….lol.

Joined you this morning there Percy @ $1.06. The chart still has a bit of work to do as there is still some overhead to get through so I'll have to be patient (like TRA) :)

Was last in MVN in 2015-16 from $1.11 to $1.33 plus a couple of Div's, so let's see if it can repeat.

[janner]

Even more incredible is I brought some this morning at the open,paying $1.06 ps...………….lol.


" Put it on your " Watch list ".. "

You did tell me that I still have all my marbles .. :-)))

[winner69]

Even more incredible is I brought some this morning at the open,paying $1.06 ps...………….lol.

Yes indeed percy .....as Balance would say ...always good buying at $1.06

Just shows we are not entirely blinkered eh and can recognise improvement that maybe is sustainable.

[percy]

Joined you this morning there Percy @ $1.06. The chart still has a bit of work to do as there is still some overhead to get through so I'll have to be patient (like TRA) :)

Was last in MVN in 2015-16 from $1.11 to $1.33 plus a couple of Div's, so let's see if it can repeat.

Lets hope so.
I have never owned MVN.
Always thought they were a serial under performer,but this result proved otherwise.
Positive outlook with increased divie too.

[forest]

Even more incredible is I brought some this morning at the open,paying $1.06 ps...………….lol.

A NZ manufacturer opening retail stores in China.?
Makes no sense to me.
Take care.

Percy, you are not so concerned about those retail stores in China now?

[Grimy]

I bought a few a couple of weeks ago at $1.03 (with so much negativity I had to!). Perhaps I should have bought more......

[percy]

A NZ manufacturer opening retail stores in China.?
Makes no sense to me.
Take care.

Percy, you are not so concerned about those retail stores in China now?

Yes still concerned.
Hopefully the first one fails.
Should it turn out successfully. my concerns will increase,as it will lead to a big disaster eventually.

[forest]

Yes still concerned.
Hopefully the first one fails.
Should it turn out successfully. my concerns will increase,as it will lead to a big disaster eventually.

My understanding is that the retail shops planned in China do not carry the risk of a traditional roll out of retail shops.
MVN has a partner in China, this partner takes the responsibility of the real estate, MVN responsibility only goes as far as stocking it with their products.
So no commitment for leases or even rent. Not a common business model I am aware of.

[percy]

My understanding is that the retail shops planned in China do not carry the risk of a traditional roll out of retail shops.
MVN has a partner in China, this partner takes the responsibility of the real estate, MVN responsibility only goes as far as stocking it with their products.
So no commitment for leases or even rent. Not a common business model I am aware of.

Certainly does ease my concern.
In fact it has erased it.!!
That makes very good sense.
Thank you.

[tim23]

Pleasantly surprised by result my pessimism was unwarranted - mind you as a long term hold I've been used to disappointment.

[couta1]

Even more incredible is I brought some this morning at the open,paying $1.06 ps...………….lol. I was stunned and speechless when I saw this post, has the pope also turned Protestant in the meantime.

[percy]

I was stunned and speechless when I saw this post, has the pope also turned Protestant in the meantime.

I have lost all credibility with myself.
Do not know whether I have dementia, or just had a demented turn?
I think the Pope is OK,but after visiting Ireland, anything could be possible.

ps.I wonder if it is possible to put yourself on your own ignore list.?

[McGinty]

I have lost all credibility with myself.
Do not know whether I have dementia, or just had a demented turn?
I think the Pope is OK,but after visiting Ireland, anything could be possible.

ps.I wonder if it is possible to put yourself on your own ignore list.?

I wouldn't look into it too far there Percy. The great John Maynard Keynes once said "When the facts change, I change my mind. What you you do sir?"

I have had to make a few calls like this myself this year and just remind myself that there is no place for ego in the market. Back yourself when you see a good entry and don't be afraid to sell if your wrong :D

With MVN, all I need to see was:

FA - a good result, a upbeat forecast and the last 3 years of good dividends
TA - a solid support area (will now be $1.05), no down trend and positive price/volume action today.

= Low downside risk, good dividend and potential for further upside (looking forward to the AGM update Nov)

[percy]

Yes I totally agree with your post.
You must change your mind when the facts change,back yourself, and sell if you are wrong.
Simple really,!!
But putting it into practice takes an open mind.

[King1212]

Looking good depth...not many sellers....plenty of buyers?..

[G on]

Hmmmm. Looks like asb securities not working.

[King1212]

Oh well...anyone missed out? Managed to grab some this morning...after hours of reading thier presentation and Percy on board...what could be wrong?:D

[Snow Leopard]

I missed out:

The old trusty software flagged MVN last night, I did the old due diligence, put an order in at $1.08 and then went to bed.

Wake up this morning to discover that not only did it open at $1.09 but it is now trading at $1.13!

Waiting for the inevitable pull-back [ please :)]

[winner69]

Looking good depth...not many sellers....plenty of buyers?..

Always good buying at $1.06

[percy]

I missed out:

The old trusty software flagged MVN last night, I did the old due diligence, put an order in at $1.08 and then went to bed.

Wake up this morning to discover that not only did it open at $1.09 but it is now trading at $1.13!

Waiting for the inevitable pull-back [ please :)]

First time the old Percy has been out of the starting blocks quicker than the Snow Leopard.!..lol.

[King1212]

Damn..all th big gurus here....I may rest assure that this a good choice buying this morning.....:D

this also will help MVN

https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12116219

[winner69]

Now you can almost sense what a shower feels like while playing on a computer or digital device

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/MVN/323116/285829.pdf

Wow ...go Methven

[percy]

Now you can almost sense what a shower feels like while playing on a computer or digital device

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/MVN/323116/285829.pdf

Wow ...go Methven

In the best interest of water conservation, I will in future have a morning digital shower.

[King1212]

Big transfer at $1.20!:eek2:

[King1212]

:DAll I said is wowwww!

[winner69]

Big transfer at $1.20!:eek2:

That’ll probably raise a couple of SSH notices

[King1212]

That’ll probably raise a couple of SSH notices

Hardly any sellers winner...

[McGinty]

:DAll I said is wowwww!

Yes agree, this is what accumulation looks like and is good confirmation for momentum :)

Only 2 shareholders had the 4.7m shares to sell this morning (Salt funds and Lindsay Investments), so it will be interesting to see who's sold and who the new backer is.

[winner69]

Yes agree, this is what accumulation looks like and is good confirmation for momentum :)

Only 2 shareholders had the 4.7m shares to sell this morning (Salt funds and Lindsay Investments), so it will be interesting to see who's sold and who the new backer is.

Maybe a takeover in the wind ......that’ll be good

[King1212]

$5 a share.....!:t_up:

[winner69]

Maybe that Lindsay guy wants the whole company now he’s seen what it’s capable off

Got plenty of dosh from selling his own business last year

[winner69]

Though Lindsay did say last year as quoted in The Herald —

Brendan Lindsay has no plans to take over Methven, after taking a 13.37 per cent stake for $10.7 million in April, but would like greater involvement with the NZX-listed tap and showerware company.

[winner69]

Whoever it is still buying up? Or does every man and his dog want to join the party?

Always right to buy at $1.06 eh percy

[King1212]

Why would anyone want to sell? The business is never been this good before..the management acknowledged that it was underperformed n they are fixing it. And 4c dividend coming in about 10 days....still pretty good yield at current sp

[percy]

Whoever it is still buying up? Or does every man and his dog want to join the party?

Always right to buy at $1.06 eh percy

Yes.
When I brought I thought there was a very real possibility of a 20% gain over the next year.
Thought the share could go to $1.20, and the divie may be 7cents or 8 cents, giving $1.28, therefore a 20% return.
Little did I expect the sp would reach my target in under a week.?
Great being wrong..Profitable too...…..lol.
Always opportunities on the market,just at times it is hard to see them.

[winner69]

Why would anyone want to sell? The business is never been this good before..the management acknowledged that it was underperformed n they are fixing it. And 4c dividend coming in about 10 days....still pretty good yield at current sp

Management have said all that before ......and then something goes wrong and it’s back to the drawing board

Is this time different ...hope not

Parked my WINX.AU fortune in MVN .....might need to sell late next week to reinvest in WINX but if MVN still on fire will find some spare cash

[forest]

Management have said all that before ......and then something goes wrong and it’s back to the drawing board

Is this time different ...hope not

Parked my WINX.AU fortune in MVN .....might need to sell late next week to reinvest in WINX but if MVN still on fire will find some spare cash

The differents is that this is new motivated and capable management with a long term plan I think.

[King1212]

The differents is that this is new motivated and capable management with a long term plan I think.

agreed....will hold tight till next year. Very hard to find an undervalued share now..all shares at NZX are overpriced....

[RupertBear]

Management have said all that before ......and then something goes wrong and it’s back to the drawing board

Is this time different ...hope not

Parked my WINX.AU fortune in MVN .....might need to sell late next week to reinvest in WINX but if MVN still on fire will find some spare cash

What is WINX Winner? I dont seem to be able to find it :confused:

[King1212]

What is WINX Winner? I dont seem to be able to find it :confused:


He meant his winnings asx stocks....

[RupertBear]

He meant his winnings asx stocks....

Thanks, no wonder I couldnt find the listing ;)

[Snow Leopard]

I bought about half of what I wanted at $1.13 last Thursday.

Still have the order in the market for the other half at $1.08...:mellow:

[winner69]

If it was Lindsay it takes then just shy of 20% .....interesting

[King1212]

Ya...confirmed it was Lindsay investment trust:D

[winner69]

Ya...confirmed it was Lindsay investment trust:D

Lindsay won’t be buying anymore unless they offer to buy the company

[King1212]

https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12119705

[winner69]

https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12119705

Probably Salt sold them what they wanted

Salt guys pretty smart

[King1212]

Probably Salt sold them what they wanted

Salt guys pretty smart

Would u see Lindsay takeover MVN? They got plenty of cash...$660m after sold his sistema...

[stoploss]

Would u see Lindsay takeover MVN? They got plenty of cash...$660m after sold his sistema...
That horse racing / breeding game is mighty expensive :)

[winner69]

That horse racing / breeding game is mighty expensive :)

...but plenty of government support

And his honey ventures

[King1212]

...but plenty of government support

And his honey ventures

you guys just jealous because he build his wealth in the garage makes the plastic containers :t_up:
That Cambridge stud is a classic investment I reconk!

[winner69]

you guys just jealous because he build his wealth in the garage makes the plastic containers :t_up:
That Cambridge stud is a classic investment I reconk!

We were just saying he probably hasn’t got enough left to buy all of Methven

[King1212]

We were just saying he probably hasn’t got enough left to buy all of Methven


Yup..I know..just try to be cheeky:D

[Filthy]

annual report out: https://www.nzx.com/announcements/324548
all looks very glossy.....including three consecutive photo-pages dedicated to a lady enjoying a shower(??)
non-holder, but might have a little flick through later today
question I have is; how sustainable is the new growth? where is the competitive advantage?
can products be reverse engineered by other companies overseas and produced/sold off cheaper?
could trend similar to F&P appliances I guess? ......trends & innovation is crucial though.
people specially ship in Italian tiles for their bathrooms. would they do the same for some stylish NZ tap-ware?

[percy]

Over the years MVN have talked the talk,but never been able to walk the walk.
This past year's performance has been a cracker.Doing what they said they would do.
Their shower experience is out standing,and is a competitive advantage.I would hope patents give them protection.
Their outlook is very positive and a trading update will be given at the agm on 31st October..
Their divie went into my a/c today.

[winner69]

Good stuff.
http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/MVN/324625/287776.pdf

Keeps them in the game longer

Bit of an industry shindig but the likes of Fisher and Paykel Healthcare won a few awards

[percy]

$600,000 new investment going to disrupt world plumbing supplies.
Just as well I am a shareholder or I would have said "yeah right."

[winner69]

$600,000 new investment going to disrupt world plumbing supplies.
Just as well I am a shareholder or I would have said "yeah right."


But red and green showers will be so cool ...and might disrupt world plumbing

Good they got Jacinda and heaps others there for the announcement .... that should improve business confidence

What was said
This activity forms part of a longer term investment plan in New Zealand manufacturing that we believe will enable us to disrupt the global plumbing industry from New Zealand, create jobs that don’t exist today and give us an agile, capital light platform to better reflect emerging customer needs and deliver superior returns for our shareholders.“

[whatsup]

MVN in Trading Halt until Monday for a mutually released ann, who to FBU ?

[percy]

GWA.$1.60 plus 5 cent divie.
Now that is a pleasant surprise.

[McGinty]

GWA.$1.60 plus 5 cent divie.
Now that is a pleasant surprise.

Yes, very pleasant surprise. Another good NZ company to potentially leave the NZX.

[winner69]

GWA.$1.60 plus 5 cent divie.
Now that is a pleasant surprise.


Amazing return for those who jumped on board below 110 in August after that last results announcement


Shane to see them leave the bourse ....always good reading their presentations even with a lot of derision


Percy me old mate .....Who would have thought that one would get such a windfall from such a dog company in such a short time.


Lesson to all .....one should not always be led by past perceptions and totally reject investing/speculating on dog stocks. Sometimes tigers can change their stripes or whatever the saying is


Good stuff as another old NZX stock leaves ....Mercer next ha ha

[whatsup]

very strange purchase for a company that hasn't exactly set itself on fire imo .

IMO $110 million purchase for a company that is going where , offshore, to expand !

[percy]

Amazing return for those who jumped on board below 110 in August after that last results announcement


Shane to see them leave the bourse ....always good reading their presentations even with a lot of derision


Percy me old mate .....Who would have thought that one would get such a windfall from such a dog company in such a short time.


Lesson to all .....one should not always be led by past perceptions and totally reject investing/speculating on dog stocks. Sometimes tigers can change their stripes or whatever the saying is


Good stuff as another old NZX stock leaves ....Mercer next ha ha

Funny enough I was looking at MVN yesterday and thought the sp was looking very weak.
Same thing happened last year with OIC.
Just when I have my doubts,out of the blue another takeover comes along.l
Lucky.?

Mercer,well no.

[percy]

Sold my MVN today....Most probably add to my HGH.

[Snow Leopard]

Nice to have a sudden burst of green to counter the recent continuous drip of red.

Makes today worth waking up for.

[DarkHorse]

Not bad going for 6 weeks' investment. Nice change indeed :t_up:

[McGinty]

Sold my MVN today....Most probably add to my HGH.

If I needed the cash for a better opportunity I would join you in selling, but I'm finding it difficult to find any good stories on the NZX (in this current market) to justify selling just yet.

8.5% for holding for a few more months is a better return than the bank.

[percy]

If I needed the cash for a better opportunity I would join you in selling, but I'm finding it difficult to find any good stories on the NZX (in this current market) to justify selling just yet.

8.5% for holding for a few more months is a better return than the bank.

The following words in the announcement gave me cause for concen,as they have held up the coolstores sale by SCL, and the seed division sale of PGW;
"the NZ Overseas investment Office."
I believe a quick result takes a least several months.
Exchanging one MVN share for one HGH share appeals to me.HGH's half year result is due early February, and I am expecting it will be solid,with a fully imputated dividend payable 1st April..Swapping one low conviction share for one high conviction share.

ps.Helps to keep my average buy in price for HGH around $1.00....lol.

[forest]

If I needed the cash for a better opportunity I would join you in selling, but I'm finding it difficult to find any good stories on the NZX (in this current market) to justify selling just yet.

8.5% for holding for a few more months is a better return than the bank.

I agree with you McGinty, not only holding a few months will pay you an extra 8.5% on todays closing price if this present offer goes ahead but there is also a chance of an improved future offer.

I think MVN has changed for the better, it has a new building it operates in and increased efficiencies which are only starting to show now.
MVN also has a very energetic management team.
I talked to the operational manager at the last AGM, he said that he could triple production with adding only a few employees and no extra factory space.
I will be sorry to see it leave in NZX before it can show it's potential.

[percy]

[QUOTE=percy;741273]The following words in the announcement gave me cause for concen,as they have held up the coolstores sale by SCL, and the seed division sale of PGW;
"the NZ Overseas investment Office."
I believe a quick result takes a least several months.

Must be a record.OIO has approved the sale.

[forest]

[QUOTE=percy;741273]The following words in the announcement gave me cause for concen,as they have held up the coolstores sale by SCL, and the seed division sale of PGW;
"the NZ Overseas investment Office."
I believe a quick result takes a least several months.

Must be a record.OIO has approved the sale.

I would have preferred if OIO would have declined this time.
Just when the company is turned around its likely to disappear from the NZX. :(

[Jaa]

[QUOTE=percy;749046]

I would have preferred if OIO would have declined this time.
Just when the company is turned around its likely to disappear from the NZX. :(

For this reason I voted against the scheme of arrangement. They were just starting to crack Asia and potentially have many years of growth ahead.

Any thoughts on the purchaser, GWA? Thinking of buying some of them as a replacement. BAPCOR did well after buying out Hellaby.

[Grimy]

Had a phone call from Australia this evening wanting to know if I'd received communication containing all the information on the proposal and telling me that the directors are voting for the proposal. When I said I'd received it and had already voted on line the lady asked if I would say which way I voted. I said, you can ask, but I'm not saying......

[forest]

Had a phone call from Australia this evening wanting to know if I'd received communication containing all the information on the proposal and telling me that the directors are voting for the proposal. When I said I'd received it and had already voted on line the lady asked if I would say which way I voted. I said, you can ask, but I'm not saying......

Mm, interesting what was the reason for the call you think?

[Grimy]

A good old nudge to make sure everyone is going to vote-and obviously for the proposal. I recall being approached once before in a similar manner, to make sure I was voting on something - can't remember which company that was though.

[CROESUS U.T.]

I had a call tonight, also with similar questions except that directors were for sale. When I asked who she worked for I think the name was Georgeson or similar. When asked a direct question about whether they acted for Methven she said no and would not comment on who their client was so my supposition is that they are acting for the Oz buyer. When I said that it was the first time in about 40 years that I had encountered such a practice and that that I found it a little bizarre she said that she would pass on to her management. Yeah right.

[winner69]

Stunning result ....share price should be over 2 bucks on back of this

By their high stands are a pretty poor presentation this time but no need to try to impress now. Will miss their presentations ....always been good for a laugh over the years

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/MVN/331216/295878.pdf

[percy]

Stunning result ....share price should be over 2 bucks on back of this

By their high stands are a pretty poor presentation this time but no need to try to impress now. Will miss their presentations ....always been good for a laugh over the years

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/MVN/331216/295878.pdf

Read it again.
Nett profit and eps are well down .
Usual window dressing.

[Snow Leopard]

OK Just sold out of this one.
With only about 1.6c (1%) of upside could not see the point of hanging on any longer especially when TRA or AIR or ??? may need some support.

PS It is a beautiful morning here.

[percy]

Very pleasant afternon here.

[forest]

OK Just sold out of this one.
With only about 1.6c (1%) of upside could not see the point of hanging on any longer especially when TRA or AIR or ??? may need some support.

PS It is a beautiful morning here.

What about the dividend you are going to mis?

[Snow Leopard]

What about the dividend you are going to mis?

Unless I misunderstood:
Takeover price is $1.60
dividend is expected to be 'about 4.69 gross imputed to 14%' or about 3.6c to me.
Wait for $1.636 or take $1.62 (minus a little brokerage) :confused:

Plus I see other opportunities :).

[forest]

You right Snow Leopard, there is a chance we get 2H19 dividend as well but only if scheme of arrangement is delayed.
Seem like you have done the clever thing.

[tim23]

Anyone noticed quite large volumes recently - rival bid coming...?

[forest]

Anyone noticed quite large volumes recently - rival bid coming...?

Yes, could be a sign. Large volume at price close to offer price.
I also noticed that the directors have an out to their acceptance to the scheme of arrangement if a better offer comes forwards.
Special meeting tomorrow, will be interesting if a rival bit comes forward.

[forest]

GWA.AU - GWA Group Ltd - Ordinary Fully Paid
Last DCF Gap VWAP Buy Sell High Low First Volume Value
324 ¢
(AUD)
6 1.9%
12/03 16:10 AET
322.87 324 325 326 316 320 782,861 $2,527,644

MVN share holders have voted and the company will be part of the GWA group.
The market reaction was positive for GWA share holder, share price up 1.9% on day of confirmation to own MVN. Aus market flat that day.
Buy buy MVN, just when the turn around was close. :(

[stoploss]

GWA.AU - GWA Group Ltd - Ordinary Fully Paid
Last DCF Gap VWAP Buy Sell High Low First Volume Value
324 ¢
(AUD)
6 1.9%
12/03 16:10 AET
322.87 324 325 326 316 320 782,861 $2,527,644

MVN share holders have voted and the company will be part of the GWA group.
The market reaction was positive for GWA share holder, share price up 1.9% on day of confirmation to own MVN. Aus market flat that day.
Buy buy MVN, just when the turn around was close. :(

When do we get the cash ? haven't seen anything yet , but they say they own it .



Accordingly, GWAIL (NZ) Limited (a subsidiary of GWA Group Limited) now owns


all of the shares in Methven.

[Grimy]

Dividend is in my account. Haven't seen the $1.60 yet-but can't be far away!

[Grimy]

Final payment went in an hour ago. Now, OCA or ZEL, or SPK, or...……?

[stoploss]

Thanks Grimy , found it all . Was held in a different entity ...been sitting in the bottom drawer for a while .