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Made that $10 mark nevi .... well done
No reason why it shouldn't keep going up eh
So you can make money in retail afterall ..... especially if do the simple things well and consistently
Michael is hosting the NZ Golf Open on his private course this year .... what a way to promote the course to potential foreign buyers .... better than the front page of the harcourts book
Asking price $150M ... not too bad for a bit of gardening
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yeah finally and just on target. Still looking good for this year. Glad I topped up at 6.70. Am waiting for the next mark but am not sure from here. Will wait for the next report.
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It was another good result from MHI, albeit Tom the $1.00 rise was just recouping the drop of the week before.
I wouldn't worry about another country just yet. Canada definitely has some way to go on the S curve. There is only going to be so much management capacity to handle expansion so they will be better off developing some "MHI Cultured" local management in Canada before trying to stretch things further. In any case if economies hold up I think you'll only have to wait 1 to 2 years. The balance sheet has been coping fine with Canadian start up losses and investments so future earnings from North America will be put to good use I'm sure. (Canada $25m sales already... how long did it take NZ to get there?)
The worst part of the report was that they obviously had a weak patch in the final quarter. What was the cause? Saturation potentially but seems unlikely as Australia still appears to have some way to go on the infill front. Competition? Economy?
Assuming they succeed in Canada (and potentially USA?), imputation credits will begin to be a problem. Will they pay partially un-franked dividends? Perhaps they will change the long term formula of a highish proportion of earnings being distributed and reinvest a larger share for growth?
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ANother all time high again the other day
And good press from gaynor won't do any harm
http://www.nzherald.co.nz/section/3/...ectid=10463672
Intereresting what the 10 for 1 split will do ..... at about a $1 shares will be cheap again
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Well as an act of penance for trashing this share some years ago (in favour of Angus & Coote now no longer with us ) I have purchased some MHI prior to the split and hereby publicly acknowledge that I was wrong about MHI and that nearly everyone on ST knows more about jewelry retailing than I do.
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I actually sold some 3 months ago. Should have got more in August. Still am a happy holder for now
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Seems they have changed the split date:
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MHI
24/08/2007
GENERAL
REL: 1433 HRS Michael Hill International Limited
GENERAL: MHI: Share Split - Change of Date
Michael Hill International Limited
In our full year profit announcement to NZX on the 17th August 2007, the
Company announced a 10 for 1 share split to take place on Monday 29th October
2007.
For administrative reasons, the date for the split has been changed to Monday
19th November, 2007.
W.K.Butler
Company Secretary 24 August 2007
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Not may sellers now
Long time holder
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Ok now MHI is getting to some pretty heady heights even with the Divi this week and the bonus issue next month. Still with Aussie booming and Canada as well i will be awaiting the quarterly update with interest. Will MHI make 13.
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MHI is smoking today, bloody hell at this rate it'll be the top riser on the NZX in 2008 too! (25% incr NP for HY)
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