Exactly, Brain! And it makes a big difference if that management has significant skin in the game - as is the case with HLG - and Briscoes!
:)
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Exactly, Brain! And it makes a big difference if that management has significant skin in the game - as is the case with HLG - and Briscoes!
:)
From December 2018
Don't want to be a sour "puss" BUT
Beggared if I know how you reconcile management's repeated warnings about challenging conditions and margins under pressure with this mornings announcement WTF ?
Then there was the opposite fiasco with KMD saying growth was strong in November last year and now forecasting very modest growth which is actually negative eps growth.
One thing is absolutely certain is that this market is extremely challenging. Challenging to interpret the real truth from some of the B.S. issued by some companies.
I am extremely disappointed with the disingenuous nature of outlook statements made by both companies in late 2018.
Three or four "huge" days compared with three or four "poor" days at Christmas/New Year makes all the difference.
Hot days people stay away from shops.Couple of good cool or wet days,and malls do well.
On a good day you can do a usual week's turnover.Any experienced retailer knows you can be well ahead,and then quickly fall well behind.
HLG are not so foolish to promise great outlooks.
I have no issues being a buy and hold kinda guy with this stock, I judge the company by its outstanding track record through good and bad times, no debt, exceptional average divvy payments over many years plus the quality of the Top 20 shareholder base who haven't sold any(I dont include Gragher in this as they are fly by night players)
The impact of their statement (3/12/2018) last year certainly had a major impact on the SP.
Were they disingenuous though?
On 3/12/2018 (the day the SP started falling) they said:
On the 12/12/2018 the annual meeting was told that things were pretty steady. They mention a tough environment but note they are responding.Quote:
The Company advises that Group sales for the first 17 weeks of the new financial year (from 2 August 2018 to 30 November 2018) are +4.8% ahead of the same period last year. The trading environment has remained tough in both New Zealand and Australia. It is however not possible to reliably forecast the total Summer season trading result as the December and January trading periods contribute such a large proportion of sales and profit for the season.
We will however provide a further trading update at the Company’s Annual General Meeting on 12 December 2018.
I think the market jumped to dire conclusions rather than the company saying that trading was going bad.
By the time of the 12/12/2018 meeting the SP had already fallen of the cliff. The SP has been relatively stable since then.
Never let a company like Gragher scare you out of your shares by assuming they know best when they clearly dont.
Beagle me old mate ...the numbers are even better than what they said
Remember Storm
Back out Storms numbers from last year sales were up 5.6% and profit up $2.4m (on $16.0m forecast) or a huge 17%
HLG don’t worry about ‘normalising’ things ...that’s cool eh.