the king buys postie plus

[Nuts]

Todays press release seems to offer somehope for ppg. Im no expert but it looks better.what do others think ?

[percy]

Judgement day put off until July.They will need a good cold spell to boast sales.
"A significant net loss for year to 3 August 2014." [which will be less than last year's $10.6mil].
The bank "has reserved its rights in relation to historical covenant breaches," means Postie are trading at the mercy of their bank.
Richard Binns is certainly going to have to prove he can improve not only margins,but greatly increase both revenue and show a profit.Will be near impossible to achieve against competition from a wounded Hallensteins,an aggressive Farmers and a better focussed Warehouse.In a word "difficult."At some time the bank is going to want its money.
This could turn out to be the last new thread for ;"the king buys postie plus."!!!

[percy]

Hi Karlos,
Nothing to do with PPG,however I remember going on a fishing trip once, and the hotel we were staying at had just gone into receivership.The waitress took our breakfast orders,then had to check with the receiver,no, six of you will have to have sausages and eggs as there is not enough bacon for all of you to have.!!
Can't remember if we caught enough fish for dinner!!!

[macduffy]

So the postie will deliver a lower loss this year. No details at this stage of course but I'm wondering what or whether there will be a profit from the sale of Schooltex contributing to this "improved" result? We know that the business was sold for $9m but I've not seen any mention of a profit or loss on the transaction. Incidentally, the proceeds were to be used to reduce borrowing - so that probably explains the bank's current forebearance regarding covenant breaches.

[percy]

Just loved the "so am unable to assist" and recommending your previous boss.! Classic.
We may have to organise a get together in Hamilton?
Your musical son.What is he up to?

[percy]

Hey percyBoss was a real prick. Have had our business 13 years now. On multiple occasions I have beaten them to jobs(, if 2 glass firms accidently called for repair work.) Twice they have beaten me, both times they were asked to leave, Te Awamutu job in middle of night was one of them. Had seen notice for Auckland and recognised many posters. Thought would be nice for quiet time to cruise on up in the VZ, few beers and chat then rumble home.Well he currently says to mum "Dads grumpy again", or sometimes to myself with a thump to my shoulder "Ya right there old man"

Sounds to me you are still picked on by your family.!!!!!!!! Ya right there "old man." Bet that makes you grumpy.!! lol.

[percy]

You live dangerously my friend.!!!
Sorry,I just can't see you with your trap shut!!!!!! lol.

[winner69]

Postie going to be OK now

I heard Richard on the radio this morning he stabilised the business ........ and they looking at going on line in a much bigger way

Good eh

[Logen Ninefingers]

Postie going to be OK now

I heard Richard on the radio this morning he stabilised the business ........ and they looking at going on line in a much bigger way

Good eh

Hahaha....yeah, they are stuffed alright.

[percy]

Postie going to be OK now

I heard Richard on the radio this morning he stabilised the business ........ and they looking at going on line in a much bigger way

Good eh

Well on the Pumpkin Patch thread I see Postie have upped their first half loss and changing their distributor.
Stabilised ? Fantastic ? Sorry I can't bring myself to share his vision? I can only see dark clouds,in fact they are dirty great big black ones!

[Ekrub]

This is Richard Binns on Radio New Zealand National's Checkpoint programme (5 to 7 pm).
Wednesday April 8.

Not totally gloomy, but of course, they can't be.

http://www.radionz.co.nz/audio/player/2591913