good move, look how Collins in aus is performing
Printable View
good move, look how Collins in aus is performing
I calculate 11% eps accretive in FY17. Is it really worth it for the risk of going into Aussie. Remember the unsuccessful Pizza Hut foray?
Current FY16 Fy17 forecast aus proforma proforma fy17 accretion sales EBITDA 52.8 58.1 15 67.8 73.1 Operating profit (EBIT) 35.2 40.5 45.2 48.73333333 Interest 1.2 0.2 3.3 2.9 Pre-Tax Profit (EBT) 34 40.3 41.9 45.8 tax 8.8 12.3 11.93694 13.0568 NPAT 25.2 28 29.9 32.8 Debt 14.9 5 82.9 73 Market cap 410.1 410.1 430.1 430.1 EV 425.0 415.1 513.0 503.1 EV/EBIT 12.1 10.2 11.3 10.3 eps 0.257 0.286 0.291 0.318 11.30% pe 16.27 14.65 14.39 13.16
Let's do the time warp again?
https://www.youtube.com/watch?v=aizCMO-mI1Q
If you look at the NZ business, an investment in more KFC's is definitely more worthwhile than Pizza Huts. I also wonder what the KFC's look like and whether a transformation project like they did in NZ would give further profitable results.
It is an interesting decision though. More KFC is really just a scale and reliable cashflow story, rather than a growth story. Maybe this is an admission that bringing a new brand successfully into NZ is difficult given the issues they are having with Carls Jr.
Anything the Aussies sell and their own corporate kind do not want to buy, avoid.
The landscape in Australia is littered with the corpses and casualties of NZ companies making investments there - Telecom (twice), Air NZ, Fletcher Challenge, Warehouse, Equiticorp, Chase, Tower, RBD, BNZ, NZI etc etc etc.
Balance - the market loves it - share price up to $4.60 and more to come.
Hope it gets o $5 in next month - good time to sell I reckon
Good stuff there noodles. Helpful and saved me time and effort
(You do good stuff and it would look really professional from a presentation point f view if you were a little more consistent with how many decimal points you use. Just trying to help - no offence intended mate)
Thanks for the constructive feedback. Updated here.
Current FY16 Fy17 forecast aus proforma fy16 proforma fy17 accretion sales EBITDA 52.8 58.1 15 67.8 73.1 Operating profit (EBIT) 35.2 40.5 45.2 48.7 Interest 1.2 0.2 3.3 2.9 Pre-Tax Profit (EBT) 34 40.3 41.9 45.8 tax 8.8 12.3 11.9 13.1 NPAT 25.2 28 29.9 32.8 Debt 14.9 5 82.9 73 Market cap 450.2 450.2 470.2 470.2 EV 465.1 455.2 553.1 543.2 EV/EBIT 13.2 11.2 12.2 11.1 eps 0.257 0.286 0.291 0.318 11.30% pe 17.87 16.08 15.80 14.45
RBD was a very poor company.A lot of CEOs who promised a lot and all failed to deliver.
What a difference Russel Creedy has made.
I am sure he will work his skills in Australia as well as he has done in NZ.
RBD also has a very strong board.