Scales - SCL

[sb9]

Loving the discussion guys, both for and against.

Must say I was bit nervous through the fruit fly period this year (Jan and Feb being active) after I got into the stock late last year. However, I've hung on knowing that it was just small blip in the bigger picture as I believed in the company's future prospects and sure enough SCL is the start in my portfolio atm.

Just my two cents....

[noodles]

Very good analysis there mate. I would venture to suggest that all the risk to the currency is too the downside, (with potentially another two or three reductions in the OCR over time), and accordingly all the risk to eps gains is to the upside.

Its very tempting to have another bite of this juicy prospect. (note to self, how can I resist using all these weak puns ?).
Thanks Roger,

I don't see Scales making all those gains in FY15, but perhaps they might make half of them. So perhaps 15.3c +3.5c= 18.8c. Apple prices are key.
Of course, Coolstores will have a better year than last, so we should see some additional eps from them.

PSE, I'm not an insider, but an insider is buying at present. See the recent notice.
https://www.nzx.com/files/attachments/214331.pdf

[winner69]

W69 the dog's welfare champion,too!??

PS.
You are not the only one who can rant and rave,but it a bit much when you are critical of greedy businesses, looking for higher than 10% ROE, or ROC, while chasing 30% to 40% yourself.
Also you may not be aware the SCL's CEO is an ex banker.!
Moral issues should be discussed on an off market thread.

But my target returns is not at the expense of my stakeholders (customers/employees/suppliers etc) are they?

Just a punt on price movements, not much different from backing horses at the TAB except more science to this form of punting / speculation. Some even call it investing

Yep i knew Borland is a banker by trade, probably still is deep down.

I went to school with one of the non executive directors.

[gv1]

Thanks Roger,

I don't see Scales making all those gains in FY15, but perhaps they might make half of them. So perhaps 15.3c +3.5c= 18.8c. Apple prices are key.
Of course, Coolstores will have a better year than last, so we should see some additional eps from them.

PSE, I'm not an insider, but an insider is buying at present. See the recent notice.
https://www.nzx.com/files/attachments/214331.pdf

SShh... don't reveal all this. It hasn't convinced some let the price stay for us to get some more funds.

[noodles]

SShh... don't reveal all this. It hasn't convinced some let the price stay for us to get some more funds.
lol. I have long since given up on the notion that I could move the market by making a post on sharetrader. Wouldn't it be nice.

[percy]

lol. I have long since given up on the notion that I could move the market by making a post on sharetrader. Wouldn't it be nice.
Maybe yes,possibly not,however it is always very profitable for those of us who buy after reading your research.!!
Thank you.

[noodles]

Maybe yes,possibly not,however it is always very profitable for those of us who buy after reading your research.!!
Thank you.
Thanks for the kind words.

[PSE]

I am still on the fence with this one, is there any way to know the earnings history of the business? They obviously intend to grow earnings quickly but 2013 and 2014 profit results were similar.
I think NZ makes fantastic apples like eve apples, apparently a different company though. Scales is targeting the asian and middle eastern markets?
Noodles page 18 of the 2014 annual reports that they take cover for 75% of net foreign exchange for the next 12 months, presumably there will be a delay and we will be sure of a benefit from the NZ currency decline not confident of your analysis though. It's a good sign they could maintain earnings with currency against them.
I like the balance sheet.
Percy the growing of supply is great, presumably this demand is there for the apples. I can't see little old NZ flooding the market.
44% growth in premium varieties by 2018, I need to see when these were planted - will they steadily increase or come all at once at the end. Will keep digging.
The main thing above all else to me is assuming the company's main growth driver is apples then are these the right varieties, will they remain 'flavour of the month'. Lots of orchards get pulled out.
Beautiful Roxburgh Red apricots are now a thing of the past as a fickle consumers can't stand spots.
So I am not saying insider information for trading, Lynch and Bill Gates as growth value investors if you will permit the term were not insider traders but insider holders of growth stocks as the price of these companies took them away from all margins of safety in terms of assets and historical earnings.
Insider holding is legitimate.
I would love to know the perspective of a consumer in the target markets or an NZ orchardist as to the prospects of scales. Maybe someone can enlighten me?

I still like to buy those dogs with the fleas jumping off though, growth stocks seem risky as hell in comparison. Not scales because the market is not valuing it as a growth stock, I am not sure if it is either. Could still be a cyclical or a stalwart.

[noodles]

I think NZ makes fantastic apples like eve apples, apparently a different company though. Scales is targeting the asian and middle eastern markets?

Yes, Asia, Middle east, Europe, and UK are the main markets.



Noodles page 18 of the 2014 annual reports that they take cover for 75% of net foreign exchange for the next 12 months, presumably there will be a delay and we will be sure of a benefit from the NZ currency decline not confident of your analysis though.

They took some cover in Jan when USD was in the low 70's. I imagine they are taking more right now. I can tell you that brokers have far higher USD rates factored into their analysis.




44% growth in premium varieties by 2018, I need to see when these were planted - will they steadily increase or come all at once at the end. Will keep digging.

They have had a planting program in Premium apple for a while. See pg.21 to get a picture. So it should come on gradually.


The main thing above all else to me is assuming the company's main growth driver is apples then are these the right varieties, will they remain 'flavour of the month'.

So far they have been getting this right. I don't think it will be a fad that Asians prefer sweeter apples.

[PSE]

Thanks noodles, it's a little tricky but a large part of the increase in the volumes of the special varieties has already happened and continues to happen in the 2015 and 2016 years slowing down a bit 2017 18 as the whole lot becomes mature.Braeburn and Royal Gala have been around a long time lending me to think the varieties don't change that quickly, yup apples less sweet good idea should continue to work.
Definitely falling dollar is great and I agree the analyst's reports on this one look pretty lacksidaisical. We are not talking about BHP right.
The report also mentions that 2013 and 2014 were good years for Braeburn and Royal Gala prices.
So I agree with your story, it looks like a growth spurt in 2015 2016 then the company goes back to being a stable stalwart. Have I got that right or are they investing in more orchards.


They may have other plans for growth but nothing concrete I can see.

Pretty cool to buy a 'biological asset'.
All the best with this one guys I wish you well, I may have considered it when it was cheaper but I was looking the other way at the time. From $1.7 to $2.1 is not enough of a margin of safety for me, doesn't seem too unrealistic though.

[noodles]

So I agree with your story, it looks like a growth spurt in 2015 2016 then the company goes back to being a stable stalwart. Have I got that right or are they investing in more orchards.
The short term growth initiative are:
-Increased Premium apple supply. This is via replanting of existing orchards.
-Increased coolstorage with an Auckland presence.

Medium term, I expect that they will be looking for a Tauranga coolstore to give themselves a national footprint.
They have also stated that they wish to expand the range of the food ingredients business.
Then there is the balance sheet capacity for acquisitions.

I understand most of the focus for apples will be in marketing rather than volume. However, they have been planting premium varieties last year. These won't mature until 2020. So still lots of premium apple growth to come.

[gv1]

lol. I have long since given up on the notion that I could move the market by making a post on sharetrader. Wouldn't it be nice.


Heh!heh!Heh!.........:D:D:D:D:D:D:D:D:D:D:laugh::l augh::laugh::laugh::laugh::laugh::laugh::laugh:

[Beagle]

Thanks noodles, it's a little tricky but a large part of the increase in the volumes of the special varieties has already happened and continues to happen in the 2015 and 2016 years slowing down a bit 2017 18 as the whole lot becomes mature.Braeburn and Royal Gala have been around a long time lending me to think the varieties don't change that quickly, yup apples less sweet good idea should continue to work.
Definitely falling dollar is great and I agree the analyst's reports on this one look pretty lacksidaisical. We are not talking about BHP right.
The report also mentions that 2013 and 2014 were good years for Braeburn and Royal Gala prices.
So I agree with your story, it looks like a growth spurt in 2015 2016 then the company goes back to being a stable stalwart. Have I got that right or are they investing in more orchards.


They may have other plans for growth but nothing concrete I can see.

Pretty cool to buy a 'biological asset'.
All the best with this one guys I wish you well, I may have considered it when it was cheaper but I was looking the other way at the time. From $1.7 to $2.1 is not enough of a margin of safety for me, doesn't seem too unrealistic though.

Stocks not really $1.73 as it trades cum a fully imputed divvy and goes ex very early July. Its easy to make the case that those getting in now are really only paying $1.67 as holding for five minutes doesn't really entitle you to that dividend so I always look at this sort of thing, (buying very close to a large divvy), on a ex divvy basis. $2.10 / 1.67 = potential 25.7% capital gain isn't too shabby in a market that's generally priced within an inch of full value.
What happens to earnings if we drop to 60 cents U.S. :)

[noodles]

Stocks not really $1.73 as it trades cum a fully imputed divvy and goes ex very early July. Its easy to make the case that those getting in now are really only paying $1.67 as holding for five minutes doesn't really entitle you to that dividend so I always look at this sort of thing, (buying very close to a large divvy), on a ex divvy basis. $2.10 / 1.67 = potential 25.7% capital gain isn't too shabby in a market that's generally priced within an inch of full value.
What happens to earnings if we drop to 60 cents U.S. :)
I like your way of thinking. The upcoming dividend is 7c +2.7c imp credits. So really you are only paying 173- 9.27 = 163.73. Even better.

And once brokers update their research, we may see a much higher target based on currency expectations going forward.

[tim23]

You are really paying $1.73 because they will typically lose 7c when they go ex divvy - I remember recently having this debate on the HNZ forum.

[DarkHorse]

http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11465673
Looking good for apple and kiwifruit businesses

[noodles]

http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11465673
Looking good for apple and kiwifruit businesses
Thanks for the link,
It is great that we can sell our apples at a premium. Milk powder is just a pure commodity and sells at a standard rate around the world. Yet Scales and Seeka are priced on much lower multiples than listed stocks in the dairy industry. Go figure!

[Beagle]

You are really paying $1.73 because they will typically lose 7c when they go ex divvy - I remember recently having this debate on the HNZ forum.

Yes Tim we did and the point I made there and reiterate here is that if you're looking at this as a one year investment with a target price of meeting broker expectations of $2.10 in 12 months time your net entry price is $1.67 for precisely the reason you mentioned.

For those that don't want the dividend they can feel free to buy immediately after the divvy for $1.67 if it falls that far temporarily and they're still in the same position of looking at a 25% capital gain (2.10 / 1.67).

How long does it take the average stock to recover the dividend paid back into its SP is something people might want to DYOR on.

[sb9]

Seems bit weaker day for orchard sector today, both for SCL and SEK.

[percy]

Seems bit weaker day for orchard sector today, both for SCL and SEK.

Bit like a Briscoes sale day.
I brought more SEK today.

[winner69]

You guys didn't tell me how hard it was to buy a decent chunk of these things. Thanks to some spirited selling yesterday have now got most of what I am after. Hope those sellers yesterday were idiots and don't know of an impending disaster or something

Bit of a worry how weak the share price been this week, good for buying but maybe signals post ASM blues maybe. Were the messages that good?

Hope this doesn't turn out to be just a 'dividend stripping' exercise to mitigate losses. Not into that sort of high finance stuff, all seems a bit risky.

Love that dog tucker division

.

[winner69]

don't worry you are buying a winner winner........hard to explain but scales is benefiting big time from poor product management by Fonterra....

Good

Fonterra giving away surplus / out of date stuff which scales putting into dog tucker?

[winner69]

more to do with product storage.

Obviously Fonterra not good at managing the supply chain then.

[winner69]

Scales announced 7 cent dividend on May 18. Share price then was $1.70. Announcement did not make price move.

Roger says that at $1.70 the 7 cents is 'included' - if buying effectively at $1.63

Does that mean that the Scales share price has effectively fallen since the divie was announced? (even though it has reached $1.76)

If price falls by 7 cents on July 1st the chart is going to look a bit worrisome.

Hope I haven't been sucked in by hype here

[couta1]

Scales announced 7 cent dividend on May 18. Share price then was $1.70. Announcement did not make price move.

Roger says that at $1.70 the 7 cents is 'included' - if buying effectively at $1.63

Does that mean that the Scales share price has effectively fallen since the divie was announced? (even though it has reached $1.76)

If price falls by 7 cents on July 1st the chart is going to look a bit worrisome.

Hope I haven't been sucked in by hype here
That's why it's often better to take a position ex divvy aye winner, the price often overshoots the divvy amount significantly to the downside eg Contact would be a recent example plus although divvy is fully imputed it still has 5% RWT deducted so something to consider.

[tim23]

I agree Couta - I've been arguing this earlier on thread and previous on HNZ, the other logic is a bit warped I reckon unless you are punting on a dividend strip i.e 3 dividends in 366 days and that's what it is - a punt!

[winner69]

That's why it's often better to take a position ex divvy aye winner, the price often overshoots the divvy amount significantly to the downside eg Contact would be a recent example plus although divvy is fully imputed it still has 5% RWT deducted so something to consider.

But some on this forum talk about this thing called 'dividend stripping' and say the share price always recovers in the following few days

[winner69]

Seems like I have made a big mistake and stuffed up buying last week .... should have waited until after the record date of July 1st

The dividend thing didn't cross my mind as generally divies don't come into my expectations. Just bonuses if they eventuate

Bugger

[couta1]

But some on this forum talk about this thing called 'dividend stripping' and say the share price always recovers in the following few days
History would often prove this wrong, take Spark which was about $3.10 the day before it went ex in March its nearly July and its still hovering around $2.70- $2.80 ish yet it only shed a 9c divvy, there's just too many variables to make any hard and fast rules on pre divvy recovery price.

[tim23]

Winner - I can promise you that the price doesn't always recover at all more often the opposite, Methven this week an example so when they say I really paid $1.16 for my Methven they really paid $1.20 now $1.14

[couta1]

Winner - I can promise you that the price doesn't always recover at all more often the opposite, Methven this week an example so when they say I really paid $1.16 for my Methven they really paid $1.20 now $1.14
Exactly Tim and MVN could very well drift back toward $1.10 next week so lets see what happens with Scales post divvy.

[tim23]

And $1.10 would be a great time to buy!

[winner69]

Probably at Londn School of Economics ---- they a lot of of good stuff in this field.

No doubt somebody somewhere has done a study in New Zealand

[percy]

And $1.10 would be a great time to buy!

Yeah right.!!!
With the sp below both the 50 day and the 200 day EMA I think you would be wise to keep your powder dry.!

[couta1]

I know of those studies Roger but my own studies of the NZX over the last few years has shown it doesn't seem to want to play ball with the historic overseas results probably because us Kiwis want to do it our way aye:cool:

[percy]

I know of those studies Roger but my own studies of the NZX over the last few years has shown it doesn't seem to want to play ball with the historic overseas results probably because us Kiwis want to do it our way aye:cool:

Most probably correct on the shares you hold,but the ones I hold, would most probably confirm Roger's study.
Not every one,but most.
The reason for this is people say I will hang onto this dead duck until I get the divie,then I will sell,while the good companies see people wanting to hold, and add to their holding.

[couta1]

Most probably correct on the shares you hold,but the ones I hold, would most probably confirm Roger's study.
Not every one,but most. Here's a few that haven't played ball of the top of my head PGW/SPK/GNE/MRP/CEN/AIR/IFT you may even own some of them aye:eek2: PS- Dont think the above list are dead ducks.

[percy]

Here's a few that haven't played ball of the top of my head PGW/SPK/GNE/MRP/CEN/AIR/IFT you may even own some of them aye:eek2:

Yes I own PGW and AIR.

[winner69]

Looked through an academic database for such things. I love reading Journal of portfolio Management and Journal of Finance and all those sort of magazines.

Dividend stripping seems to work in Australia - esp higher dividend paying stocks and in rising markets. Optimum returns achieved buying at least 30 days before ex date.

Tax a bit of an issue over there. It seems you have to hold the stock for at least 45 days to be able to claim franking credits. This doesn't apply in NZ does it?

Suppose not many of you dividend strippers here worry about the tax on capital gains either.

Hope Scales is a good dividend stripping stock.

[couta1]

Hey winner problem is we are not in a rising market so better to buy Scales post divvy aye, now there's a thought you could sell now at $1.70 and buy back at $1.58 post divvy:cool:

[winner69]

Hey winner problem is we are not in a rising market so better to buy Scales post divvy aye, now there's a thought you could sell now at $1.70 and buy back at $1.58 post divvy:cool:

But if we not in a rising market it continue to go down .... and down

Sounds like I really stuffed up with this one .... loss minimisation strategy needs to be put in place.

[percy]

Hey winner problem is we are not in a rising market so better to buy Scales post divvy aye, now there's a thought you could sell now at $1.70 and buy back at $1.58 post divvy:cool:

I expect in 6 months time when the sp is over $2 the strip or not to strip will be forgotten.

[percy]

But if we not in a rising market it continue to go down .... and down

Sounds like I really stuffed up with this one .... loss minimisation strategy needs to be put in place.

If you think you have SCL, wrong sell.If you don't know, you should not have brought.
I have done my research before buying,and attending the ASM confirmed my research.
I therefore look forward to SCL improving the business,growing the dividend, and the market waking up to what a fine company SCL is.Growing eps will see the sp expand.I am well positioned.!

[couta1]

I expect in 6 months time when the sp is over $2 the strip or not to strip will be forgotten.
Nah Percy I'm afraid it's like groundhog day on this one every divvy time ,the only difference being the price either higher or lower.

[percy]

Nah Percy I'm afraid it's like groundhog day on this one every divvy time ,the only difference being the price either higher or lower.

Well, when I have done my research on a company, and are looking to buy,I will always buy to collect any upcoming dividend,Never once have I waited for a share to go ex divie before buying.Never.And never will.
Even better is buying just before a divie,and over about 7 or 8 months you get two divies.Really cranks up my returns.

[Beagle]

Well, when I have done my research on a company, and are looking to buy,I will always buy to collect any upcoming dividend,Never once have I waited for a share to go ex divie before buying.Never.And never will.
Even better is buying just before a divie,and over about 7 or 8 months you get two divies.Really cranks up my returns.

You're as cunning as a hungry badger :)

[winner69]

MVN not a good example (recently of this 'dividend stripping'. Hope Scales is different

Table is MVN price 1 month before ex date, ex date, and 1 month after with the returns shown

Last 3 dividends hardly worth the effort to get a free dividend.

If anything it shows MVN is a **** stock anyway - priced as a bond methinks and doesn't seem to even reacted to lower interest rates either. Those numbers enough to put anybody off, except those who think the dividend is safe as houses.

Interesting stuff

Wasn't that TMO decision not giving that try a doosey- go HIGHLANDERS

[percy]

Great game.doosey....I would not liked to have called it.!

[winner69]

Great game.doosey....I would not liked to have called it.!

bad speeling eh Percy .... doozy

blame spell check I will

[percy]

bad speeling eh Percy .... doozy

blame spell check I will

As always I will just blame YOU.!!!!! lol.

[tim23]

Overall if you are buying longer term it really doesn't matter if you buy cd or xd does it? In a bull market I have seen companies go xd and completely recover their price immediately and in poorer markets lose more than the dividend when they go xd who is smart enough to get it right then, not me typically!

[axe]

But if we not in a rising market it continue to go down .... and down

Sounds like I really stuffed up with this one .... loss minimisation strategy needs to be put in place.

Winner. Try not to worry too much about the SP straight after this Divvy. Think about scales ability to grow the dividends next year, and the year after and so on.
If you are confident the Divvy will grow, then you know you have picked a "winner".

I can make no accurate prediction regarding SCL's future performance, but I like the fact they have delivered so far on what they promised in the prospectus.

[GTM 3442]

Scales future prospects look good.

But it will be the unexpected which will catch them out from time to time.

Weather and disease.

The five year chart for Seeka Kiwifruit (SEK) provides a useful example of disease

[winner69]

OMG .... another day or two like this it will be 150 something .... and when goes ex divie it might even be 140 something

Bad timing winner with this one, hope I don't get tarred with the same brush as couta

Maybe it is just a winter thing

[PSE]

I like the positives previously mentioned here, proximity to asia and NZers make great new fruit varieties. Ever since someone went overseas and brought back a Feijoa.
Trying to look into the record, the apple business (50% of the company) has certainly been through tough times. Patchy earnings history.
I find it outrageous that the company was sold for 44 million to private equity, why was it not floated? Those guys were definately onto a good thing, not so sure about IPO buyers.

http://www.nbr.co.nz/article/scales-corp-posts-136-mln-profit-2012-cuts-debt-50-percent-bd-141140

I expect the shareprice will fluctuate.
Don't listen to me about growth stocks, I just don't have the stomach for the risks involved and sell all the best ones way too early. I saw some apples in huntly labelled NZ rose for $1 per kilo, hope they fell off the back of a truck or are not the premium variteies.
Maybe only a few for local buyers, don't know.

[percy]

OMG .... another day or two like this it will be 150 something .... and when goes ex divie it might even be 140 something

Bad timing winner with this one, hope I don't get tarred with the same brush as couta

Maybe it is just a winter thing

I am really loving your misery.!!!
One person's pain is another person's joy..!!!
Lovely sunny day here in Westport too.

Maybe time to revisit the Rata trees.?

[winner69]

Roger, Percy and others who went to the ASM

Be upfront now, what really was said at the meeting and probably more importantly when you had the apple juice with the important people

Something must have been said - its been all down hill for the share price ever since

[percy]

Roger, Percy and others who went to the ASM

Be upfront now, what really was said at the meeting and probably more importantly when you had the apple juice with the important people

Something must have been said - its been all down hill for the share price ever since

Don't rely on us,attend the ASMs yourself.!
Those of us who did are not complaining. !

[winner69]

Don't rely on us,attend the ASMs yourself.!
Those of us who did are not complaining. !

Not complaining .... must have something in the apple juice for you got not to complain .... the share price is down 16% since that meeting

Maybe you weren't listening properly Percy .... only heard the good things and drooling over the pictures

Bloody cold here tonite, weather man says -1 in the wind --- all the cold stuff has blown up from Christchurch

[couta1]

OMG .... another day or two like this it will be 150 something .... and when goes ex divie it might even be 140 something

Bad timing winner with this one, hope I don't get tarred with the same brush as couta

Maybe it is just a winter thing
Don't worry winner you'd have to create a lot more destruction for yourself before you get to share my exclusive company. PS- Looking good for taking a post divvy stake aye.:cool:

[noodles]

From the latest Chris Lee update



The pip fruit industry is reporting continued growth in volumes and returns, especially from apples where they expect sales to exceed $1 billion prior to the 2022-targeted date. The falling Kiwi dollar won’t be upsetting them either.


Investors now have access to this industry via both Scales Corp and Turners & Growers.


Some statistics:


551,000 tonnes forecast for harvest just completed;
$536 million export receipts in 2014, up 65% on 2010; and
30% rise in returns per carton between 2010 and 2014

[percy]

Not complaining .... must have something in the apple juice for you got not to complain .... the share price is down 16% since that meeting

Maybe you weren't listening properly Percy .... only heard the good things and drooling over the pictures

Bloody cold here tonite, weather man says -1 in the wind --- all the cold stuff has blown up from Christchurch

Yes heard a lot of good things,like Hawks Bay suffered one of their biggest ever droughts last year,yet SCL had their biggest harvest, because they they had invested in irrigation.Then they invested in a reflection system which gives their apples better colour. All through the business improvements.More profitable varieties coming on stream,more profitable markets being serviced ,new Auckland coolstore being built. Just plain speaking directors and management telling the company's owners where their company is going.
Sorry that you are getting the cold ChCh weather.Nice here in Westport but had a mighty frost in Refton this morning.

[winner69]

Yes heard a lot of good things,like Hawks Bay suffered one of their biggest ever droughts last year,yet SCL had their biggest harvest, because they they had invested in irrigation.Then they invested in a reflection system which gives their apples better colour. All through the business improvements.More profitable varieties coming on stream,more profitable markets being serviced ,new Auckland coolstore being built. Just plain speaking directors and management telling the company's owners where their company is going.
Sorry that you are getting the cold ChCh weather.Nice here in Westport but had a mighty frost in Refton this morning.

Thanks Percy

All that good stuff and the share price collapsing - go figure (as noodles says)

[sb9]

I think the weakness in sp may be due to someone cashing up. I do not think the story has changed much since ASM. If anything it presents good entry point atm, provide you're in for long haul. I'll continue to hold for longer term after getting in at 1.43. Mind you its not been smooth ride though, especially during the months of Jan and Feb with fruit fly hangover. Thanks goodness for the Cricket World Cup at that time, kept my focus away from looking at sp.

[Beagle]

Percy
Yes heard a lot of good things,like Hawks Bay suffered one of their biggest ever droughts last year,yet SCL had their biggest harvest, because they they had invested in irrigation.Then they invested in a reflection system which gives their apples better colour. All through the business improvements.More profitable varieties coming on stream,more profitable markets being serviced ,new Auckland coolstore being built. Just plain speaking directors and management telling the company's owners where their company is going.Good post and all good points to reflect on. Kiwi dollar looks vulnerable with at least two more, (possibly three), cuts to the official cash rate this year which will give a big boost to exporters.
7 cps fully imputed divvy just around the corner and the SP is going down...go figure ?

[percy]

Right lets be up front about the share price.
Weakness has been caused by having the ASM at 4.30 pm,and not coming up with the goods..4.30pm has been a very reliable signal that the ASM is going to have a nice session afterwards.Plenty of wine,beer and tastie finger food.Scales let the team down big time....No wine,no beer,and not even a nice glass of apple juice.You must ask yourself who wants a cup of tea or coffee at 5.30pm?
Just timing it so staff have very little time off work, is totally unacceptable to the thirsty ChCh shareholders, who often buy local shares for "sociable" reasons.!!!!!!

[winner69]

Right lets be up front about the share price.
Weakness has been caused by having the ASM at 4.30 pm,and not coming up with the goods..4.30pm has been a very reliable signal that the ASM is going to have a nice session afterwards.Plenty of wine,beer and tastie finger food.Scales let the team down big time....No wine,no beer,and not even a nice glass of apple juice.You must ask yourself who wants a cup of tea or coffee at 5.30pm?
Just timing it so staff have very little time off work, is totally unacceptable to the thirsty ChCh shareholders, who often buy local shares for "sociable" reasons.!!!!!!

That's why 11am funerals are better as well. Get lunch afterwards if you lucky.

The poor down and outs enjoy the funerals of their many relatives and friends, especially those from the richer suburbs where I believe the club sandwiches and savouries are superior. Social funerals eh.

[winner69]

Hope this Craig's investor day in Palmie drums up a bit business .....get the punters excited so they rush off to the Scales sale

Back to 175-180 today

[tim23]

Good on them for having a modest AGM after match - cup of tea would be fine by me!

[percy]

Good on them for having a modest AGM after match - cup of tea would be fine by me!

Yeah right.!!!!
All of us would agree with you....
Well some of us would.
Don't think Roger would?

[sb9]

Thanks for that upload brend, very pleasing images.

Looks like the investor presentation ahs gone well.

Happy now winner69...

[noodles]

Horticultural company to list on the ASX at 16 times earnings
http://www.businessspectator.com.au/news/2015/6/23/equity-capital-markets/costa-bows-investor-heat-ipo

Makes SCL look cheap at around 10 times

[Joshuatree]

Subscription only.

[winner69]

Subscription only.


Costa Group, the fruit and vegetable grower headed by the wealthy entrepreneur, Frank Costa

hopes to raise between $541 million and $637.4 million from public market investors.

PE 15 to 17

[winner69]

Horticultural company to list on the ASX at 16 times earnings
http://www.businessspectator.com.au/news/2015/6/23/equity-capital-markets/costa-bows-investor-heat-ipo

Makes SCL look cheap at around 10 times


So SCL should be around $2.70 then

Jeez NZ market is really dumb then .....and the promoters of the IPO a year ago should be shot for accepting $1.60

[winner69]

Noodles, its the blueberries that makes Costa more valuable

http://www.smh.com.au/business/frank-costas-family-set-to-make-158m-in-fruit-and-veggie-ipo-20150625-ghxr6d.html

[Beagle]

Yeah right.!!!!
All of us would agree with you....
Well some of us would.
Don't think Roger would?

I was annoyed at their pathetic ASM refreshments. Not even some of their own product, (fruit juice), just water...hence the use of the strong word pathetic.
Just as well I had a great day out, supported my much loved airline and most of all enjoyed the great company of my mates Percy and Noodles. Thanks again Percy for the extended tour around Chch.
Someone needs to send their team to an HNZ ASM, they know how to look after their shareholders !! Oh ****...just realised I've sold all my HNZ shares..better buy a few back so I can catch up with my mates and go to the ASM :D

[couta1]

Hey Roger we will have to buy a few Summerset before their next AGM, their refreshments weren't too bad, perhaps a swing trade would suit (We could buy them 3 days before and sell them after the meeting) or the next day after the hype spike:eek2:

[sb9]

Well, last day today before it goes ex-divvy on Monday.

[winner69]

Horticultural company to list on the ASX at 16 times earnings
http://www.businessspectator.com.au/news/2015/6/23/equity-capital-markets/costa-bows-investor-heat-ipo

Makes SCL look cheap at around 10 times

You would have read instos baulking at such at a high PE and concerns about the lumpy earnings

Costa going global to find takers - Sumitomo mentioned

[Joshuatree]

Someone wanted out so got some @$1.72 cum div.

[Beagle]

Hey Roger we will have to buy a few Summerset before their next AGM, their refreshments weren't too bad, perhaps a swing trade would suit (We could buy them 3 days before and sell them after the meeting) or the next day after the hype spike:eek2:

What a fantastic idea and there's the brilliant bonus that I can give my real close mate Norah a huge hug after the ASM :lol:

[Joshuatree]

Id be careful, people have been known to disappear in her volumous folds and never been seen again. Curiously the Intensive Dementia wards seem to increase numbers at the same time. Yiou can enter anytime you want but you will never leave(unless you know the combo door code ,changed weekly).

[sb9]

Anyone here received the dividend being payment date today. I haven't got mine yet.

[axe]

Anyone here received the dividend being payment date today. I haven't got mine yet.

I've got mine :)

[percy]

Anyone here received the dividend being payment date today. I haven't got mine yet.

Mine is there.
Was not there this morning,so must have just gone through.

[Beagle]

Yep all good. Nice juicy dividend :)

[winner69]

Hey winner problem is we are not in a rising market so better to buy Scales post divvy aye, now there's a thought you could sell now at $1.70 and buy back at $1.58 post divvy:cool:

Only down a fraction at the moment after buying before the record date

So no capital gain so far but have that dividend

Does his mean dividend stripping works ...at least in this case

[kiwidollabill]

The more I read, the more I like this one. Alot of their hort products are regarded as 'commodity trade' (i.e. non PVR protected) but they show reasonable production/supply chain innovation.

I hear good things about their CEO, Andy Borland also.

Didn't have reasonable cash to enter when they were $1.55, should I take the plunge at $1.70 or 'hope' they drop a bit for a better entry...... Think I'll just do it....

[noodles]

Only down a fraction at the moment after buying before the record date

So no capital gain so far but have that dividend

Does his mean dividend stripping works ...at least in this case

I reckon your wish for capital gains will eventuate. My spreadsheet tells me that FY16 eps=19.5

What sort of pe ratio should we apply to this stock?

[IAK]

The more I read, the more I like this one. Alot of their hort products are regarded as 'commodity trade' (i.e. non PVR protected) but they show reasonable production/supply chain innovation.

I hear good things about their CEO, Andy Borland also.

Didn't have reasonable cash to enter when they were $1.55, should I take the plunge at $1.70 or 'hope' they drop a bit for a better entry...... Think I'll just do it....

Should have bought some yesterday when they went down to $1.67. I'm looking at adding a few more too.

[noodles]

The more I read, the more I like this one. Alot of their hort products are regarded as 'commodity trade' (i.e. non PVR protected) but they show reasonable production/supply chain innovation.

I don't think it is fair to called Mr Apple apples a commodity. Mr Apple commands a premium because they have unique varieties. Even within variaties that are sold by other producers, they produce redder and crisper apples. They are also produced in the best apple growing region in the world, Hawkes Bay.

Now these are not my words. I'm just relaying what I recall from my conversation with the CEO of Mr Apple.

[kiwidollabill]

I don't think it is fair to called Mr Apple apples a commodity. Mr Apple commands a premium because they have unique varieties. Even within variaties that are sold by other producers, they produce redder and crisper apples. They are also produced in the best apple growing region in the world, Hawkes Bay.

Now these are not my words. I'm just relaying what I recall from my conversation with the CEO of Mr Apple.

You're probably right, but alot of this market is still done with trader/buyer desks who don't care too much other than variety/price. I see they now grow 'smitten', thats a yummy one.

[noodles]

You're probably right, but alot of this market is still done with trader/buyer desks who don't care too much other than variety/price. I see they now grow 'smitten', thats a yummy one.
I am referring to the premium varieties that they sell overseas.

[gv1]

Thanks Percy for convincing me with this one....wow best fat div. & cap. gain as well.

[percy]

Thanks Percy for convincing me with this one....wow best fat div. & cap. gain as well.

Would love to say "you're welcome",but I am very much on Noodles's coat tails on this one,too.!
So Noodles,from us all, thanks again for sharing your research with us.
Will add my own thoughts though;we are "well positioned." lol.

[winner69]

I reckon your wish for capital gains will eventuate. My spreadsheet tells me that FY16 eps=19.5

What sort of pe ratio should we apply to this stock?

OMG, nearly 20 cents

How about 15 PE ..... Premium products, well deworsified, great management, etc etc would warrant such a modest PE

Heck that's 3 bucks next year

I excited, really excited, now

Too good to be true

Hope Percy doesn't tell me off for being greedy by doubling my money

[winner69]

Nobody answered my question ....worth while dividend stripping in this case?

[noodles]

Nobody answered my question ....worth while dividend stripping in this case?
No. Not worth it. Much better to buy before the dividend and hold. lol

But seriously, it is only 10c above IPO price. They have exceeded financial forecasts and they now have a massive currency tailwind.

[gv1]

Would love to say "you're welcome",but I am very much on Noodles's coat tails on this one,too.!
So Noodles,from us all, thanks again for sharing your research with us.
Will add my own thoughts though;we are "well positioned." lol.
Cheers mate!
And thank you Noodles.

[Joshuatree]

Prob is . I too bought re day before it went X and its back there now plus or minus 1 cent atm so not a lot in it after tax etc but damn close at this POINT.

[noodles]

OMG, nearly 20 cents

How about 15 PE ..... Premium products, well deworsified, great management, etc etc would warrant such a modest PE

Heck that's 3 bucks next year

I excited, really excited, now

Too good to be true

Hope Percy doesn't tell me off for being greedy by doubling my money
How about 16 times? Same as Costa group.

[winner69]

How about 16 times? Same as Costa group.

Wasn't that 15 to 17

We are up to $3.40 target now

Must be like companies better than 17 we can use.

You my man noodles

[Joshuatree]

As long as one has that margin of safety for being at the mercy of nature;disease, demand etc. It wasn't long ago when growers were pulling out their trees and selling up.

[winner69]

How much of that 20 cents will be paid as divies?

[Joshuatree]

Nobody answered my question ....worth while dividend stripping in this case?

"The minute you walked in the joint, i could tell you were a real big ...Splendour":t_up:

[Beagle]

Yep, buy just before the divvy and sit back and enjoy the tasty rewards. I reckon someone is sitting on a large study with lots of empirical evidence that proves on average this is a really winning strategy for outperformance...I wonder who that is :D

I concur with Noodles about the massive currency tailwind and with 3 or 4 more cuts to the OCR basically almost baked in the chances of that currency tailwind becoming typhoon strength are very good.

Modest undemanding PE, excellent prospects for capital gain and a great fully imputed forecast divvy yield and all this from a growing company that's unaffected by the weaker Kiwi economy...what's not to like !!

I might have to have another bite of this juicy apple.

[noodles]

How much of that 20 cents will be paid as divies?
70% FI
Gross divi 11.44%

Bear in mind, this is for FY16

[winner69]

70% FI
Gross divi 11.44%

Bear in mind, this is for FY16

So next years dividend 70% of 20 cents is 14 cents plus imp credits

The nice young lady at Rabobank just offered me 4% on a1 year term deposit .... 3.3% after tax

Jeez I'd buy SCL at $4.20 to get that return ....$3.00 with a risk premium

Crikey ....isn't SCL so so so cheap at $1.70 odd

Sorry Rabobank .... More cash into the market

Go Scales, you good thing

[Joshuatree]

"The minute you walked in the joint, i could tell you were a real big ...Splendour":t_up:

For the young , innocent and naive who didn't get it

https://www.youtube.com/watch?v=i7cD3DBUn_s

[winner69]

For the young , innocent and naive who didn't get it

https://www.youtube.com/watch?v=i7cD3DBUn_s

You are a disgrace josh

Do you still have your Shirley Bassey 45 EP? (Or is it macduffy that has those things)

Vinyl back in fashion these days ....and costs heaps more than when you were younger but apparently really cool it is listening to music on vinyl these days

[winner69]

And Josh I thought you were going to tell me about the mighty Malanion (or something like that) who in race with Diana kept putting out golden apples (the premium Scales ones) and the delectable Diana would stoop and pick them up which meant Malamion won the race.

Hope I haven't been seduced by apples as well

[gv1]

I might have to have another bite of this juicy apple.[/QUOTE]

hi Roger,
Oops..were u the one buying about 170kplus yesterday.

[tim23]

Gone xd and nicely recovered in a tough market good sign

[Pricey]

Just re-visited the investor updates, can someone speak more to the Financial Seasonality in SCL's May 2015 Fact Sheet? I understand this to mean the Half Year result is more important than most (given 55% of Mr Apples sales and 75% of S&L EBITDA being generated in the first 6 months).

[sb9]

Got my divvy this morning by cheque, must update my details to get direct credited. Tht I did that a while ago, obviously not.

[Beagle]

I might have to have another bite of this juicy apple.

hi Roger,
Oops..were u the one buying about 170kplus yesterday.[/QUOTE]

Not me mate. This is a good stock to gradually accumulate, a bite here and a bite there :)

[noodles]

Great to see Craigs putting Scales in the spotlight

http://blog.craigsip.com/stock-comment-scales-scl/

Now they just need to get their spreadsheet out and redo their earnings estimates.

[sb9]

I reckon your wish for capital gains will eventuate. My spreadsheet tells me that FY16 eps=19.5

What sort of pe ratio should we apply to this stock?

Well based on Craig's blog just posted by you, they're attributing a PE of 10.9, and on FY16 eps of 19.5, the projected sp works out to be $2.12...

[noodles]

Well based on Craig's blog just posted by you, they're attributing a PE of 10.9, and on FY16 eps of 19.5, the projected sp works out to be $2.12...
They have a lower eps forecast than I do.

BREAKING NEWS. With the recent fall in the NZD over the last couple of days, I've upgraded my FY16 eps = 20c

[percy]

Great to see Craigs putting Scales in the spotlight

http://blog.craigsip.com/stock-comment-scales-scl/

Now they just need to get their spreadsheet out and redo their earnings estimates.

Thanks for posting the link....
Blog??????
Well I learn something new every day.Never thought to read their blog!!!
I am with your projections..!

[sb9]

They have a lower eps forecast than I do.

BREAKING NEWS. With the recent fall in the NZD over the last couple of days, I've upgraded my FY16 eps = 20c

Make projected sp $2.20 then...thanks noodles.

[noodles]

Make projected sp $2.20 then...thanks noodles.
I look at it differently....
Craigs have fy16 eps = 1.70/10.7 = 15.8c
Craigs have a target price of $1.90
Therefore Craigs apply a target pe multiple of 1.90/.158= 11.95

So using my eps, the target price using a Craigs multiple = .20 * 11.95 = $2.39

http://www.4-traders.com/SCALES-CORP-LTD-21021561/consensus/

I note the other broker applies a pe=13.

[sb9]

Anything over $2 would be fine by me :t_up:

[Sideshow Bob]

from Farmers Weekly

http://viewer.zmags.com/publication/a4a4f66e#/a4a4f66e/15

[sb9]

from Farmers Weekly

http://viewer.zmags.com/publication/a4a4f66e#/a4a4f66e/15

Thanks for that sideshow bob. Very good read and quite reassuring about earnings potential going forward. Lower nzd is big boost for their exports. $2 in not too distant future I reckon.

[percy]

I look at it differently....
Craigs have fy16 eps = 1.70/10.7 = 15.8c
Craigs have a target price of $1.90
Therefore Craigs apply a target pe multiple of 1.90/.158= 11.95

So using my eps, the target price using a Craigs multiple = .20 * 11.95 = $2.39

http://www.4-traders.com/SCALES-CORP-LTD-21021561/consensus/

I note the other broker applies a pe=13.

I hope the other broker is correct,$2.60 ...???
I am "well positioned".

[Beagle]

I am a little surprised given the precipitous fall in the $Kiwi this one hasn't shown a bit more "juice" already. Buying opportunity for those looking for a good exporter that's been perhaps a little overlooked ?

[winner69]

I hope the other broker is correct,$2.60 ...???
I am "well positioned".

Noodles says $2.39 the other day

A rerating on that and $3 on the cards .....that's my target

[macduffy]

I am a little surprised given the precipitous fall in the $Kiwi this one hasn't shown a bit more "juice" already. Buying opportunity for those looking for a good exporter that's been perhaps a little overlooked ?

Probably tempered by the fact that Scales has hedged its sales contracts this season. Hedging works both ways!

[Beagle]

Noodles says $2.39 the other day

A rerating on that and $3 on the cards .....that's my target

Craigs have gross yield at a whopping 9.2% so we're being paid very handsomely indeed, (in this ultra low interest rate environment), while we look forward to future earnings growth.
The rule with this company is, as you sow, so shall you reap. Sow more and reap a bigger harvest :)

[Joshuatree]

And Josh I thought you were going to tell me about the mighty Malanion (or something like that) who in race with Diana kept putting out golden apples (the premium Scales ones) and the delectable Diana would stoop and pick them up which meant Malamion won the race.

Hope I haven't been seduced by apples as well

Heehee my memory is a bit patchy there w69 SCL is a good div stripper though I think "Hey Big Splendour" should be Scaleys new non de plume ;or HBS for short.

[Beagle]

Probably tempered by the fact that Scales has hedged its sales contracts this season. Hedging works both ways!

Sure does but it'll look pretty "juicy" next year with a 5 handle on the US dollar won't it !!

They need samples of their apples, fruit juice and dog food at the next ASM...OR perhaps the shareholders association could organise a company visit field trip :)

[percy]

From the link Sideshow Bob provided post #379.
Alan Williams article;Scales confident of a good year.
"Scales has currency hedging in place on sales contracts,but apple production was above forecast and new contracts would be based on current foreign exchange levels."

[Beagle]

From the link Sideshow Bob provided post #379.
Alan Williams article;Scales confident of a good year.
"Scales has currency hedging in place on sales contracts,but apple production was above forecast and new contracts would be based on current foreign exchange levels."

Yep good point Percy. I bought more this morning. Its a free lunch in my opinion as I honestly believe the $Kiwi will go a LOT lower. Then there's all the projected growth in apple harvest to come as well as significant additional revenue from their new $30m Auckland coolstore.

[vin]

Bought my first parcel of SCL today. See how it goes!

[Saint]

Bought into SCL this morning as well. Seems like a solid company at the moment; additional growth with the new coolstore in Auckland as well as the declining kiwi $ even if SCL currently has currency hedging in place.

Wow first ever post.

[percy]

Bought into SCL this morning as well. Seems like a solid company at the moment; additional growth with the new coolstore in Auckland as well as the declining kiwi $ even if SCL currently has currency hedging in place.

Wow first ever post.

Welcome to sharetrader.
I am sure SCL will be a great investment for all of us.Modest ratios,stong balance sheet,excellent board,and skillfull CEO and staff.

[noodles]

Bought into SCL this morning as well. Seems like a solid company at the moment; additional growth with the new coolstore in Auckland as well as the declining kiwi $ even if SCL currently has currency hedging in place.

Wow first ever post.
Don't forget the growth in premium apples as well.

You are only paying a 12c premium to the IPO price. For that premium, you are getting a lot of comfort that management are performing as they have already beaten guidance. You are also buying the stock in much better trading conditions due to the lower NZD. And you are buying at a decent discount to broker targets.

Now we know you are so astute in your stock selection, I want to know what else you are buying:)

Welcome to the forum.

[winner69]

All these new keen shareholders buying lots of shares .......share price doesn't go up

Go figure

[percy]

All these new keen shareholders buying lots of shares .......share price doesn't go up

Go figure

Just knew you would end up crotchety,after being up well past your bedtime, watching TV most of the night.!
Go figure yourself.!! lol.

[noodles]

All these new keen shareholders buying lots of shares .......share price doesn't go up

Go figure

Winner, surely you don't believe retail investors can move the share price? This stock driven by the institutions.

[winner69]

Winner, surely you don't believe retail investors can move the share price? This stock driven by the institutions.

Were they selling to these keen new shareholders then?

[couta1]

Winner, surely you don't believe retail investors can move the share price? This stock driven by the institutions.
Retail investors can drive share prices up on the NZX on low volume days by placing a good sized order I've watched this happen with a few of my own orders from time to time.

[winner69]

Just knew you would end up crotchety,after being up well past your bedtime, watching TV most of the night.!
Go figure yourself.!! lol.
Final round of the golf tonight and we could see history being made. Tour de France is fascinating.

Sea Eagles play the Cowboys first and Liverpool is at the Adelaide Oval - the crowd singing the Liverpool anthem will be be moving

The cycling finishes about 3am Percy.

[Joshuatree]

With volumes often under 20,000 (re 225,000 today under $158,000 which still isn't Insto size)) today of course a few raves and buys by share traders can move it. This is a forum people take notice of and how many quiet followers who aren't confident to contribute are actioning generously shared research and thoughts from posters; i think we would be surprised at times.

[noodles]

Were they selling to these keen new shareholders then?
No idea...

[percy]

With volumes often under 20,000 (re 225,000 today under $158,000 which still isn't Insto size)) today of course a few raves and buys by share traders can move it. This is a forum people take notice of and how many quiet followers who aren't confident to contribute are actioning generously shared research and thoughts from posters; i think we would be surprised at times.

I think a lot of us under estimate the power of social medias such as sharetrader.
I can not back this up, but I estimate sharetraders traded between $2.5mil and $4.5 mil worth of HNZ shares recently.
I would think sharetraders holding in SCL would now be approaching $1.mil to $2mil.[and increasing daily].
And I agree there are a great number of people who never post,but watch sharetrader,and act accordingly.Some are significant investors.
I think the older and wiser posters are nowdays a bit more careful with their postings.No one wants to see others losing money because they acted on something you posted.The trouble is so many excellent posters have stopped posting, because of the Trolls. It is a great pity the moderator does not read posts but only acts on complaints.I have also pointed out to the moderator, he/she may see things a little differently if he/she ,or his/her family were holding shares in a company suffering from Troll abuse.

[noodles]

An update on progress from Alan Williams
http://agrihq.co.nz/article/scales-confident-of-a-good-year?p=7

I liked the following line...
"Scales has currency hedging in place on sales contracts but apple production was above forecast and new contracts would be based on current foreign exchange levels."

My forecast eps of 20c is based on FY16 earnings. The above indicates that some currency benefit will be felt in FY15 . Plus above forecast apple production should boost the bottom line as well. Ripper!

[Saint]

I think you've hit the nail on the head with that one. I myself have been apart of this forum for a little under a month now and have found everyones point of views very interesting to read and research, especially posts from yourself Percy and noodles.

[Leftfield]

And I agree there are a great number of people who never post,but watch sharetrader,and act accordingly.Some are significant investors.
I think the older and wiser posters are nowdays a bit more careful with their postings.No one wants to see others losing money because they acted on something you posted.The trouble is so many excellent posters have stopped posting, because of the Trolls. It is a great pity the moderator does not read posts but only acts on complaints.I have also pointed out to the moderator, he/she may see things a little differently if he/she ,or his/her family were holding shares in a company suffering from Troll abuse.

I agree Percy and am saddened that we have lost so many good contributors lately. Seems to me we all get a bit emotional at times, but like investing, it is best to remain objective and try and find the true value (in both posts and investments!)

[macduffy]

My, you're a persuasive group on this thread! I bought a few yesterday, also, (having done my OR of course)!

There's also a bit of nostalgia involved in this decision. Geo H Scales - I think was the original name - was a small but active player in shipping when I started work in Christchurch in the late 1950's. Any company that survives and evolves over such a long period deserves a serious look!

:)

[Beagle]

I think a lot of us under estimate the power of social medias such as sharetrader.
I can not back this up, but I estimate sharetraders traded between $2.5mil and $4.5 mil worth of HNZ shares recently.
I would think sharetraders holding in SCL would now be approaching $1.mil to $2mil.[and increasing daily].
And I agree there are a great number of people who never post,but watch sharetrader,and act accordingly.Some are significant investors.
I think the older and wiser posters are nowdays a bit more careful with their postings.No one wants to see others losing money because they acted on something you posted.The trouble is so many excellent posters have stopped posting, because of the Trolls. It is a great pity the moderator does not read posts but only acts on complaints.I have also pointed out to the moderator, he/she may see things a little differently if he/she ,or his/her family were holding shares in a company suffering from Troll abuse.


I agree Percy and am saddened that we have lost so many good contributors lately. Seems to me we all get a bit emotional at times, but like investing, it is best to remain objective and try and find the true value (in both posts and investments!)

I would hope that posters can differentiate between mindless trolling which is quite rare and on the other hand a healthy vigorous and open debate regarding the merits of shares both positive views and the concerns and potential issues regarding same and that my sharing my concerns surrounding HNZ's issues recently is seen in the latter light. I enjoy a good healthy vigorous and open debate and I think we all share and learn from each other by engaging in same. Surely any thread is "bigger than" mindlessly pumping each others tyres and attempting to ramp the SP. It that's all it becomes that's a major reason why quality posters leave, in my opinion. If people start to overtly fret and feel victimised by concerns being raised and aired thoroughly in relation to a share they own, maybe they need to have a lot at the size of their holding and ask themselves if they're not a little over exposed ?

If anyone has any concerns regarding this post which is intended to clear the air, not stir it, please PM me.

Bringing this back on track, I am sure none of us have forgotten that SCL have about 40% more acreage coming on stream in 2018. Even juicer returns to come :D

[Crackity]

I would hope that posters can differentiate between mindless trolling which is quite rare and on the other hand a healthy vigorous and open debate regarding the merits of shares both positive views and the concerns and potential issues regarding same

Bringing this back on track, I am sure none of us have forgotten that SCL have about 40% more acreage coming on stream in 2018. Even juicer returns to come :D

Roger - I find your posts quite prescient ( especially in regard to Veritas Investments) - I like the fact you highlight possible downsides - certainly don't think that is trolling!

Back to Scales which everyone seems to love- I might have to join the buy side.

[percy]

My, you're a persuasive group on this thread! I bought a few yesterday, also, (having done my OR of course)!

There's also a bit of nostalgia involved in this decision. Geo H Scales - I think was the original name - was a small but active player in shipping when I started work in Christchurch in the late 1950's. Any company that survives and evolves over such a long period deserves a serious look!

:)
Yes they still have a listing in the phone book as Geo.H.Scales,yet I think it now comes under Scales Logistics,and still shipping.
I too am pleased to see them evolve,but I did loose money on them when Hubbard and his crew controlled them.

[winner69]

I think I have been seduced by the rhetoric on here This is turning into a dog of a trade

The dip below the bottom channel line I put attributed to the dividend. But heck it hasn't really recovered much since has it

You can see I am optimistic by stretching the channel out to 2 bucks .... but in spite of all the fantastic things that are happening hard to see 2 bucks happening .... let alone 250/260

Spose hang in there for a while longer - selling now would just bring the price down because instos don't seem interested in buying

[Balance]

I think I have been seduced by the rhetoric on here This is turning into a dog of a trade

The dip below the bottom channel line I put attributed to the dividend. But heck it hasn't really recovered much since has it

You can see I am optimistic by stretching the channel out to 2 bucks .... but in spite of all the fantastic things that are happening hard to see 2 bucks happening .... let alone 250/260

Spose hang in there for a while longer - selling now would just bring the price down because instos don't seem interested in buying

I recall a few millions were crossed earlier in the month. Institutions buying, or were they selling?

[couta1]

Must be time you bought some AIR winner at least as much upside over the next year aye:cool:

[winner69]

Must be time you bought some AIR winner at least as much upside over the next year aye:cool:

But couta, the next day one of their planes would crash with hundreds dead and I would feel awfully upset. Couldn't live with that so no tempting fate with AIR

[Beagle]

But couta, the next day one of their planes would crash with hundreds dead and I would feel awfully upset. Couldn't live with that so no tempting fate with AIR

You're all good there mate. We can all see that's perfectly logical :D

[Beagle]

I think I have been seduced by the rhetoric on here This is turning into a dog of a trade

The dip below the bottom channel line I put attributed to the dividend. But heck it hasn't really recovered much since has it

You can see I am optimistic by stretching the channel out to 2 bucks .... but in spite of all the fantastic things that are happening hard to see 2 bucks happening .... let alone 250/260

Spose hang in there for a while longer - selling now would just bring the price down because instos don't seem interested in buying

Patience grasshopper. Rome (apples trees), weren't built in a day :)

[Balance]

Patience grasshopper. Rome (apples trees), weren't built in a day :)
Ah, but a tree which takes a hundred years to grow can be cut down in one hour! So care needed!
Dis. Shareholder in Scales and happy.

[winner69]

^ that post makes me nervous

James, should have listened to you (seeing it was an implication that I was putting a curse on SCLs price)

You seem to have been right

[sb9]

Thanks to those who hopped the ship in last few days. Certainly makes good company, felt bit lonely around Jan/Feb this year when the fruit fly thing was going on, but happy though I got in at $1.43 :t_up:

[Beagle]

Thanks to those who hopped the ship in last few days. Certainly makes good company, felt bit lonely around Jan/Feb this year when the fruit fly thing was going on, but happy though I got in at $1.43 :t_up:

You'd be pretty happy with $1.75 then especially after a very recent fully imputed dividend of 7 cents, well done mate. Plenty of scope for this juicy apple pie to grow much bigger and sweeter, make sure you get a decent sized slice folks :)

[tim23]

One of very few shares recently to recover so quickly after going xd.

[Balance]

Let's hope SCL follows THL's record of steady and continuous earnings and profits upgrade. All signs point to that being a strong possibility over the next financial year.

[sb9]

You'd be pretty happy with $1.75 then especially after a very recent fully imputed dividend of 7 cents, well done mate. Plenty of scope for this juicy apple pie to grow much bigger and sweeter, make sure you get a decent sized slice folks :)

Very happy Roger, in fact it's the bright star in my portfolio atm.

[winner69]

Better day yesterday with a close of 175

Instos must have been buying ......hope they continue their efforts

[winner69]

A new ALL TIME HIGH this week?

We are on a roll

[silverblizzard888]

This trains moving a lot quicker than I thought! Hopped on this morning, I see only good things given the current way things are going.

[percy]

A new ALL TIME HIGH this week?

We are on a roll

I take it you have put off selling your shares until tomorrow?? lol.
I note the buyer who was on the bid at open for 20,000 shares at $1.74 has not had their order filled.
all sales have been at $1.75.

[winner69]

c'mon you guys

you might think of yourself as small inconsequential retail investors (but percy did point out that we probably have a few million in this baby between us) but if you get some real momentum going the instos might think they have to get on the band wagon as well

C'mon then

[Beagle]

Sorry mate my ramp is presently being used by my mechanic to service my car so I can't help you right at the minute.:D Good things take time mate..you know.... like the Mainland vintage cheese advertisement. Here, let me refresh your memory https://youtu.be/qcILD9OJ2wg

[gv1]

This stock doesn't need any ramping...its too good..those who don't board the ride are the only losers. I will be very happy when it will touch $5....then $10...

[Joshuatree]

A double ramp there gv; go easy on the irrational exuberance doses.;)

[vin]

Topped up again today FYI :p

[NZSilver]

Happy for price to sit at 1.75 and take the 10% div.

[sb9]

New high :t_up:

[Beagle]

And so it came to pass...the march into new blue sky territory has begun as well foretold by the wise old heads of sharetrader.

[winner69]

And so it came to pass...the march into new blue sky territory has begun as well foretold by the wise old heads of sharetrader.

Blue sky ahead as Hoop would say .... that 240 beckons by Xmas

C'mon you little beauty

[Beagle]

Yep, this train has only just departed and those who are quick can jump on and enjoy a great trip north where sunny and limitless blue skies await in vast abundance....see, I've got my ramp back from the mechanic :lol: :lol: :lol:...but many a true word is said in jest and I think we really do have a 50% return begging to be bagged over the next 12 months. Does that count as a double ramp :D

[winner69]

Yep, this train has only just departed and those who are quick can jump on and enjoy a great trip north where sunny and limitless blue skies await in vast abundance....see, I've got my ramp back from the mechanic :lol: :lol: :lol:...but many a true word is said in jest and I think we really do have a 50% return begging to be bagged over the next 12 months. Does that count as a double ramp :D

No, no Roger - not 12 months - by Xmas I reckon

Look heading to eps of 20 cents ....once the guru analysts and instos cotton on to that well 13 times 15 is $2.60 and that's your 50%

It'll go up fast the day one of those gurus work it out

[macduffy]

Blue sky ahead as Hoop would say .... that 240 beckons by Xmas

C'mon you little beauty

Pacific Beauty, surely, winner!

[Balance]

I think I have been seduced by the rhetoric on here This is turning into a dog of a trade

The dip below the bottom channel line I put attributed to the dividend. But heck it hasn't really recovered much since has it

You can see I am optimistic by stretching the channel out to 2 bucks .... but in spite of all the fantastic things that are happening hard to see 2 bucks happening .... let alone 250/260

Spose hang in there for a while longer - selling now would just bring the price down because instos don't seem interested in buying

Glad you are feeling happier, W69. Heaps of blue skies ahead but I will just caution that this is an agricultural stock and they do tend to trade at a discount to the rest of the market.
Dis. Happy holder. Bought when I saw management buying.

[Joshuatree]

Yep, this train has only just departed and those who are quick can jump on and enjoy a great trip north where sunny and limitless blue skies await in vast abundance....see, I've got my ramp back from the mechanic :lol: :lol: :lol:...but many a true word is said in jest and I think we really do have a 50% return begging to be bagged over the next 12 months. Does that count as a double ramp :D

Sad to say but you're starting to sound like a run of the mill Ramper on H/C. I value your research and foresight but sheeesh don't need that other stuff.

[winner69]

Pacific Beauty, surely, winner!

No, no - Malanion is my new hero. He used golden apples to stop Dianna winning the race

[Joshuatree]

No wonder i couldn't find it easily.Set me up w69 hee.Its Melanion and Atalanta. Man she can pick up my Golden Delicous's anytime. One tough Gal. Bummer they were both transformed into Lions and unable to mate with their own species.

Golden apple - Wikipedia, the free encyclopedia (https://www.google.co.nz/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&ved=0CBwQFjAAahUKEwjDx7_9_fDGAhWFWJIKHfZeBks&url=https%3A%2F%2Fen.wikipedia.org%2Fwiki%2FGolden _apple&ei=1rmwVcOEOYWxyQT2vZnYBA&usg=AFQjCNGNwrs8xPWu6g3ilZ8Q7ouxPa7WeA&sig2=YbRjbBMNrJVreqPL5cyMZQ&bvm=bv.98476267,d.aWw)

[Beagle]

Sad to say but you're starting to sound like a run of the mill Ramper on H/C. I value your research and foresight but sheeesh don't need that other stuff.

Give me a break mate, I would have thought it was obvious I was just having a bit of fun.

[winner69]

A big pat on the back to that man who bought a few at the close for 180 - well done

In the 180s now - that'll send the alarm bells off with the instos on Monday

Might trigger some real buying now ....they would hate to miss out on this baby as it heads to 260

Good on you whoever you are - methinks you have done us all a great service

[winner69]

No wonder i couldn't find it easily.Set me up w69 hee.Its Melanion and Atalanta. Man she can pick up my Golden Delicous's anytime. One tough Gal. Bummer they were both transformed into Lions and unable to mate with their own species.

Golden apple - Wikipedia, the free encyclopedia (https://www.google.co.nz/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&ved=0CBwQFjAAahUKEwjDx7_9_fDGAhWFWJIKHfZeBks&url=https%3A%2F%2Fen.wikipedia.org%2Fwiki%2FGolden _apple&ei=1rmwVcOEOYWxyQT2vZnYBA&usg=AFQjCNGNwrs8xPWu6g3ilZ8Q7ouxPa7WeA&sig2=YbRjbBMNrJVreqPL5cyMZQ&bvm=bv.98476267,d.aWw)

Here is the happy version I listened as a kid - it was Dianna and the Golden Apples (with Malanion of course)

https://www.youtube.com/watch?v=dPJoDewTd1c

A bastardised version of the Greek myth obviously .... but the golden apples were the secret to success

[winner69]

Hey Joshua - this was my favourite story on the radio every Sunday morning

SPARKY AND THE TALKING TRAIN

Good on Sparky for saving so many lifes

https://www.youtube.com/watch?v=3O3IzIzoVvk

[winner69]

Joshua - this was a great story as well

Bet you it was one of Percy's favourites as well. Bit before Roger's and Noodles time I think - they missed out on a lot methinks

FLICK THE LITTLE FIRE ENGINE

https://www.youtube.com/watch?v=WFq3kP3gqfg

Enjoy

[noodles]

Glad you are feeling happier, W69. Heaps of blue skies ahead but I will just caution that this is an agricultural stock and they do tend to trade at a discount to the rest of the market.
Dis. Happy holder. Bought when I saw management buying.

They are trading at about an 80% discount at the moment.

[winner69]

They are trading at about an 80% discount at the moment.

Better than a Briscoes sale

Noodles - Surely not worth $9.00?

Franko - a 400% return beckons if it ever gets to what it should be

[noodles]

Better than a Briscoes sale

Noodles - Surely not worth $9.00?

Franko - a 400% return beckons if it ever gets to what it should be

Winner. average pe on the market = 18. SCL pe is around 10.

Average pe is 80% higher than scales. Not withstanding all the risks that come with Scales, I think that is too much. I'd become interested in selling once the FY16 pe reaches 13. I think that is around $2.60

[axe]

I still haven't figured why out the SP drifted down from the IPO as far as it did on little news last year. It look a lot of very good news (early dividend / lower debt / exceeding PFI) to break it out of its down trend from the IPO.

So what happens of SCL's doesn't continue to exceed its performance targets??? Will it go back into a no news down trend?


DISC: Hold

[winner69]

Winner. average pe on the market = 18. SCL pe is around 10.

Average pe is 80% higher than scales. Not withstanding all the risks that come with Scales, I think that is too much. I'd become interested in selling once the FY16 pe reaches 13. I think that is around $2.60

So only 'trading at a 44% discount' if a PE of 18 is the norm.

Everything points to that $2.60 eh - so only a 44% gain beckons.

Jeez 44% seems a common number number as well

[winner69]

Noodles, you mentioned market PE of 18.

I know everybody has a different number but Morningstar reckon its only 16

Goodness knows whether either is historical or forecast earnings or even whether reported or normalised earnings

One thing I haver never worked out is how they account for loss making companies in coming up with an average. When asking gurus they look blank and say that's what the model says.

Or like most things in the world of analysts just is it a case of just ignoring the bad things

Anybody know the answer?

[noodles]

I still haven't figured why out the SP drifted down from the IPO as far as it did on little news last year. It look a lot of very good news (early dividend / lower debt / exceeding PFI) to break it out of its down trend from the IPO.

So what happens of SCL's doesn't continue to exceed its performance targets??? Will it go back into a no news down trend?


DISC: Hold
There was news alright. The Russian ban on Polish apples was supposed to suppress apple prices. As it turned out, Scales were less affected due to their premium product.

[Jantar]

There was news alright. The Russian ban on Polish apples was supposed to suppress apple prices. As it turned out, Scales were less affected due to their premium product.
Why should a Russian ban on Polish apples suppress price? Russia would simply buy their apples from other sources and hence maintain a stable supply and demand.
Now if Russia banned ALL apples, that would suppress prices.

[winner69]

Why should a Russian ban on Polish apples suppress price? Russia would simply buy their apples from other sources and hence maintain a stable supply and demand.
Now if Russia banned ALL apples, that would suppress prices.

Poland apparently one of the the biggest producers of apples in the world and spoked the apple market because it would dump them elsewhere.

Russians put a ban on most EU food imports and apples was th thing that hurt the Poles he most. Apparently 700,000 tones a year went to Russia ....don't know whether that's much but it seems an awful lot of apples.

[Jantar]

Poland apparently one of the the biggest producers of apples in the world and spoked the apple market because it would dump them elsewhere.

Russians put a ban on most EU food imports and apples was th thing that hurt the Poles he most. Apparently 700,000 tones a year went to Russia ....don't know whether that's much but it seems an awful lot of apples.
But Russia now need 700,000 tons of apples from elsewhere. I'm sure NZ could supply part of that.

[winner69]

But Russia now need 700,000 tons of apples from elsewhere. I'm sure NZ could supply part of that.

And they got a lot of their (polish) apples from Serbia who were naughty and reexported them

Maybe the Russians don't eat that many apples as they once did.

Scales apples too expensive as replacements to the polish ones ...premium you know

[winner69]

But jantar, you know how markets work these days. Just a sniff of trouble somewhere and the world panics and punters think they should sell their shares just to be safe.

I think about the same time some flys were found in Auckland and the apple crops were going to fail.

[Balance]

Nothing impact the profitability of an exporter than a drastic rise or fall in the exchange rate. I recall talking to a boat parts business manager 2 years ago who lamented that all the improvements in efficiency in their plant were lost in the rise and rise of the NZ$ at that time. Scales has been profitable right through that period and now, has to be one of the biggest beneficiaries of the fallen NZ$.

[sb9]

Looking at depth, more blue skies on the way..

[Beagle]

You guys are on to it ! Disc:- I bought more this morning. Scales is one of the very few truly compelling buy stories on the market at present. The chart clearly shows we have serious upside to come. Buy on an increasing SP trend.

[winner69]

Yep, $2.60 here we come

Scales is even flying under the guru analysts radar but that's not unusual

Nothing to stop it getting there ....by Xmas?

[winner69]

Guru analysts will wake up when Scales gets into the NZ50

Always thought how artificial it is when things go up when they get into a main index but if it adds 20 cents or so to the share price why complain

Maybe $2.80 then when in NZ50

[Beagle]

I think $3.00 is easily attainable within 12 months. Currency tailwind will put a rocket up earnings going forward.

[winner69]

TPPA should be good for NZ apples shouldn't it

Hope they planting heaps more trees to make the most of the opportunity.

Anybody done any quick assessment as to what this could do for Scales.

An apple a day keeps the doctor away

[Beagle]

TPPA should be good for NZ apples shouldn't it
Hope they planting heaps more trees to make the most of the opportunity.

Anybody done any quick assessment as to what this could do for Scales.

An apple a day keeps the doctor away

VERY Good thinking mate and you are absolutely on to it regarding the doctor comment. Two a day if you feel your body trying to ward off other people's winter bug's works even better.
Yep they have 40% more acreage coming on stream by 2018 and their new $30m coolstore in Auckland will provide a good earnings boost commencing FY16 too :)
TPP should give them a HUGE boost...finally hitting the holy grail of a free trade agreement with America and many other nations...WOOHOO !!!!!!
TPP should also be good for PGW and its customers.

[sb9]

Wow...that's some run of form today...I'm sure we'll see $2 mark very soon :t_up:

[gv1]

I bought heaps more of this rocket today.

[winner69]

c'mon you guys

you might think of yourself as small inconsequential retail investors (but percy did point out that we probably have a few million in this baby between us) but if you get some real momentum going the instos might think they have to get on the band wagon as well

C'mon then

You guys doing pretty well but you need to put a bit more effort in and keep buying

Inconsequential we may all be but I bet the instos are getting a bit worried about missing out on the cheap ones

Maybe 190 is when they feel they HAVE to buy

Cmon on - a bit more effort, buy some more up to 190 and then the fireworks will begin.

Exciting times

[gv1]

Put effort..what is that, we only buy stocks that does the job itself. No effort on our part.

[sb9]

Well, flag is flying quite high at the moment. Good finish for the day and not much on offer on sell side. Does anyone know if SCL has a case to be included NZX 50?

[noodles]

Well, flag is flying quite high at the moment. Good finish for the day and not much on offer on sell side. Does anyone know if SCL has a case to be included NZX 50?
it must be getting close. It is now larger than skl.nz. But i think there might be a few other contenders.

[axe]

Next rebalance end of august???? Plenty of time for SCL to rocket on. 44th or higher = inclusion as long as the other conditions are met. :)

[sb9]

Flying on open...might see that $2 sooner than I thought.

[Balance]

Next rebalance end of august???? Plenty of time for SCL to rocket on. 44th or higher = inclusion as long as the other conditions are met. :)

Share price action certainly suggests institutions are piling in to get stock for indexing.

[winner69]

Share price action certainly suggests institutions are piling in to get stock for indexing.

Don't think instos cottoned on yet

Just inconsequential retail punters still I reckon

Keep the effort up and buy a few more

When it hits $2 today or tomorrow that's when alarm bells will be going off in posh offices and then they will pie in

Next 2 to 3 weeks really interesting

Maybe more than $2.60 ...how about $3 by Xmas ...or maybe Easter then

[macduffy]

Go easy on the speccing, winner. Don't want to see you get banned!

;)

[pierre]

I have been watching SCL with interest following comments on ST over the past week or so. Took the plunge yesterday at 183. Very happy with 4% gain in one day - much better than dollars in the bank!

You might be interested in these excerpts from a report on the apple industry published in Hawkes Bay Today this morning:

A huge shift in the Hawke's Bay economy is under way as the region plays a major part in the growth of a billion-dollar apple export target by 2022 in only half the time that was forecast.

A hint of the boom came in Statistics New Zealand figures released this week, highlighting that New Zealand's fruit exports in the year to June reached an all-time high of $2 billion, up 20 per cent for the year to June 2014.

[Growth] is such that the target for the annual New Zealand apple export to hit $1 billion by the year 2022 could be reached as early as 2017.....

...."wheels are in progress" with multiple new plantings in the Hawke's Bay region to cater to the booming Asian market and the Middle East.

"We think we will hit the target years and years earlier than we expected at the current level of trajectory"

"Record monthly fruit exports in April, May and June 2015 led to an all-time high for the year ended June"

Looks great for the industry and for SCL's share of the activity.

[sb9]

Don't think instos cottoned on yet

Just inconsequential retail punters still I reckon

Keep the effort up and buy a few more

When it hits $2 today or tomorrow that's when alarm bells will be going off in posh offices and then they will pie in

Next 2 to 3 weeks really interesting

Maybe more than $2.60 ...how about $3 by Xmas ...or maybe Easter then

Here you go Winner69, Salt acquired good holding beginning of this year...around the same time I got mine too...

https://www.nzx.com/companies/SCL/announcements/259769 (https://www.nzx.com/companies/SCL/announcements/259769)

[vin]

7% sheesh.

[cheeky]

Flying on open...might see that $2 sooner than I thought.

Just hit $1.98 but it looks like some sellers have come to the party now

[noodles]

Just hit $1.98 but it looks like some sellers have come to the party now
I think we can assume those sellers have not read the Hawkes Bay Times. lol

[gv1]

Because of Dairy fiasco and interest rate..I bought this babe again today. Good div and growth prospect..but i don't know who's selling though.

[sb9]

I suspect some of those who bought at IPO might've decided to offload some to realise gains, as it went below IPO price and stayed there for a while.

Never mind, correction is always healthy sign for growth stock.

[Balance]

I have been watching SCL with interest following comments on ST over the past week or so. Took the plunge yesterday at 183. Very happy with 4% gain in one day - much better than dollars in the bank!

You might be interested in these excerpts from a report on the apple industry published in Hawkes Bay Today this morning:

A huge shift in the Hawke's Bay economy is under way as the region plays a major part in the growth of a billion-dollar apple export target by 2022 in only half the time that was forecast.

A hint of the boom came in Statistics New Zealand figures released this week, highlighting that New Zealand's fruit exports in the year to June reached an all-time high of $2 billion, up 20 per cent for the year to June 2014.

[Growth] is such that the target for the annual New Zealand apple export to hit $1 billion by the year 2022 could be reached as early as 2017.....

...."wheels are in progress" with multiple new plantings in the Hawke's Bay region to cater to the booming Asian market and the Middle East.

"We think we will hit the target years and years earlier than we expected at the current level of trajectory"

"Record monthly fruit exports in April, May and June 2015 led to an all-time high for the year ended June"

Looks great for the industry and for SCL's share of the activity.

Thanks for that, Pierre. Most useful and reinforces many of our confidence in Scales.

[winner69]

Moving on from cheese scones. Tomorrow apple turnover time

All the recipes say use Granny Smiths.

Does that help Scales? Or should I experiment with other varieties?

Jeez, apples have got me excited

[noodles]

Here is the article
http://www.nzherald.co.nz/hawkes-bay-today/rural/news/article.cfm?c_id=1503457&objectid=11489341

[pierre]

Thanks Noodles - couldn't find the story on HB Today website in the morning so had to select a few quotes from the newspaper.
Looks like all go for the fruit industry - just hope it doesn't crash like the milk market!

[gv1]

Think big institutes are surpassing the price so that they could get into it.

[Beagle]

Here is the article
http://www.nzherald.co.nz/hawkes-bay-today/rural/news/article.cfm?c_id=1503457&objectid=11489341

Thanks mate. I'm in Napier on Monday and speaking with two well connected businessmen. It'll be interesting to get their take on how the region is performing. 19 degree forecast for Monday in the middle of winter, who would have thought ? No wonder people are thinking about moving to the regions where the traffic is very light and houses inexpensive.
SCL now my biggest position, bigger than AIR even :ohmy:

[stoploss]

Think this could be a good performer like the Honey industry currently . Didn't want to miss the party so joined you guys on the register this am .

[NZSilver]

Stoploss, not such a big party, but the early stages of a party over at IQE. Would you mind joining that too and taking out those shares at 1.90. SCL has been a good buy so far I'm up 12+% since last week.

[winner69]

Stoploss, not such a big party, but the early stages of a party over at IQE. Would you mind joining that too and taking out those shares at 1.90. SCL has been a good buy so far I'm up 12+% since last week.

No stoploss - keep buying Scales to get the shareprice up to 200

THEN you will be well rewarded when instos finally realise they need to start buying

[sb9]

$2 here it comes....

https://nzx.com/companies/SCL/announcements/267785

[RTM]

Yes....and they also have to add in the effect of the exchange rate movement. That has to help as well. Great !

[stoploss]

No stoploss - keep buying Scales to get the shareprice up to 200

THEN you will be well rewarded when instos finally realise they need to start buying
No worries always happy to help :)

[drcjp]

Loving it. Having made ~50% on SUM now happy for it to carry on here. Transferred all SUM to SCL just in time! Also happy to help:t_up:

[gv1]

Phew...I am not selling any of mine.

[Regi]

Was about to buy SCL this morning but was running late for my lecture so I didn't get a chance... and then it finished at 2. Wasn't that just perfect timing?! :t_down:

Too late to jump aboard now after the market update I suppose? Where are you all thinking the SP will go in the coming months?

[Beagle]

$2 here it comes....

https://nzx.com/companies/SCL/announcements/267785

That is fantastic news. In tandem with the substantial fall in the $Kiwi the outlook is very bright !! $3 this time next year Regi...you read it here first.

[sb9]

I know the feeling Regi, its bummer isn't it? Happened to me on some other stocks.

However, I feel there is another 10% upward potential from here until they announce the half year results next month. Just purely my own opinion though, but in the long term (1 year+) it'll fetch good returns (divvies+capital gain).

[macduffy]

That is fantastic news. In tandem with the substantial fall in the $Kiwi the outlook is very bright !! $3 this time next year Regi...you read it here first.

Why do I have this feeling about market expectations getting ahead of themselves? And all because of the humble apple?

Disc: Holding - for now.

:mellow:

[Beagle]

I think after this announcement 10% is very conservative mate. A little birdy told me this morning that First N.Z. updated their valuation yesterday to $2.35 and that was before today's announcement !!