Seems to me to be a sector ripe to be hit by any new Pay Equity legislation as well as Contractor / Employee legislative changes and then moving to Industry awards
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Seems to me to be a sector ripe to be hit by any new Pay Equity legislation as well as Contractor / Employee legislative changes and then moving to Industry awards
A large trade today - 1,851,953 shares (Just over 1% of the company) at 79c, the highest equal close price over the last couple of months. Appears to indicates a keen buyer rather than a seller driven offload (which would probably have been at daily low's not high's) and someone wanting to be in before the annual result.
If Salt Funds or Regal Funds are the buyer its got to trigger a shareholder notice as the movements over 1%. There's quite a few shareholders with sufficient holdings that they could be the seller. Milford has been selling but is now under 5% so wouldn't need to do a sell notice if they have sold.
Bit of an indictment of the sector
Only a survey so probably a load of rubbish
http://www.nzherald.co.nz/nz/news/ar...ectid=11961380
Extract -
One teacher wrote in: "Hell no! I want my children alive and I want the people educating my child to be resourced, respected, valued, qualified and experienced."
Another said: "After only three years teaching, I have just resigned from the centre. My conscience would not let me stay part of a system that is akin to factory farming for children."
Still believe that the expectations off greedy shareholders wanting to make millions out of looking after kids will leave to 'compromises' along the way, usually with the kids being the losers.
See share price not doing much lately and still languishing in the 70’s
They still expecting a boomer of a second half year .....but dependent ‘on strong enrolment levels in early 2018 and further cost savings being achieved.’
Still taking a morbid interest in their financial performance - mainly as part of a study into whether these companies like this that only grow by buying new centres / practices etc actually create any real wealth.
Balance sheet as we've discussed before is choc-a-block full with goodwill of questionable value and negative NTA.
Will be catching up with my sister in law on Christmas day. Will try to remember to pick her brains on how things are going at her center and EVO in general.
Well, Beagle, what was the input on Evolve centres? The SP is plummeting just now - along with everything else. :ohmy:
Thanks for the reminder and yes I picked her brains at a recent family BBQ in mid Jan. Not much has changed. EVO still running their operations with incredibly tight fiscal restraint to the point where there's really inadequate resources as previously posted.
Rather disturbing she highlighted a recent survey in which a whopping 71% (that's the number I recall anyway...I'd also had a few drinks) of early childhood education workers wouldn't have one of their own kids at a center. I asked if this was just at EVO center's and she said it was some industry wide survey. I was quite surprised by the percentage. Perhaps partly skewed by confirmation bias that many workers are dissatisfied employees or possibly symptomatic of a staff belief that sub-optimal child care standards are a systemic issue in the industry ?, you be the judge.
Sorry this wasn't a more insigtful update...really just more of the same as I've posted before.
It was bound to be not so good news ...hope is not a strategy ...now confirmed
FY2018 Net profit after tax and before non-recurring items1 now expected to be in the range of $11 million to $12 million, versus previous guidance of $14 million to $15 million
Allowing for the bad stuff going to be $8 to $9m ...and carrying valueof goodwill is under review ...hmm
Dividend reduced
http://nzx-prod-s7fsd7f98s.s3-websit...368/274646.pdf
‘Deeply frustrated’ is a new way of saying it’s a bugger when hope of a turn around didn’t turn into reality
Better phrase than disappointed
Future looks pretty ok though...no worries
Pretty sad announcement really .... reading between the lines not the best industry to be in these days ......changing industry dynamics, cost pressures and those distardly property investors opening centres
Is there anywhere to go to get treatment for having a morbid fadcination of impending train wrecks. Good learnings though so maybe not a complete waste of time.