Hi - looking to add this stock to my portfolio, anyone holding/following?
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Hi - looking to add this stock to my portfolio, anyone holding/following?
Yes, bought a small number at 1.60 post-float. I reckon it's worth 2.34 and will look to buy more if it ever breaks out of its downtrend.
Tim,
I'm holding a small parcel. I understand that there will be an update before the end of October. Perhaps you should wait till then.
There are a LOT of risks with this one. I would read the prospectus carefully. Also, the Russian situation may be affecting carton price.
All the best,
noodles
Thanks - I see they are due to provide update probably good advice better to pay a bit more than guess, I'm looking to hold long term, want to add rural based stock to portfolio, only hold PGG in that space.
I note that CIP has initiated coverage with a price target (currently) of $1.65, and expected to be 10% higher than this if/when the Russia situation gets sorted out. A few available at $1.40 today, I think I might pick a few up.
Not a terribly liquid stock, but the CIP coverage could definitely help with that
I was intending to but got distracted by an exam. Luckily it appears. I'm going to attempt to pick some up tomorrow but I'm pretty terrible at picking entry points
Those pesky Russians are playing havoc in world commodity markets. Apple prices under pressure. The Poles can't sell to Russia, so extra supply on world markets.
http://blogs.ft.com/ftdata/2014/11/0...s-from-russia/
Proposed dividend of 9.4-9.6cps offers a pretty good percentage dividend return when you work it out on current price, about 9% Gross.
http://www.freshfruitportal.com/2012...ountry=unknown
Does anyone have any idea how hard the above hailstorm has hit Scales Apple Crops ?
I seem to recall they had orchards in that area.
All of Scales orchards are located in the Hawkes Bay so none in Nelson area however they do marketing work on behalf of external growers in that area.
Thanks. Took a look at their prospectus.
Looks like 32% (corrected) of their apples come from external supplies. Given their dominance in HB, I guess most of this would be from the Nelson area.
Found the data:
Own Orchards - 2.83 TCE (Tray Carton Equivalent)
Nelson 0.76 TCE
Other HB 0.58
So around 18% of their apples are from Nelson.
Shame to waste my last post on this but that report appears to be two years old.
If it had any effect on Scales they should be over it by now.
Retiring now, 99 not out.
Oooops.....got the wrong hail storm. There was another one this year, not long ago.
http://www.stuff.co.nz/business/farm...kiwifruit-crop
This one is more relevant.
I guess that's a risk of the SCALES business. What mother nature dishes up.
Can someone please explain the change in sentiment that has caused the rise in share price from $1.35 at the beginning of the week vs $1.48 today?
Maybe it is just Couta signalling his position:)
I agree - its weird, I patiently waited until $1.40 to buy last week then they went south (it often happens like that!) and then the bounce, maybe large seller overhang out of the way?
Hopefully Scales are part of this, and can get established before the Polish tsunami sweeps in
http://www.stuff.co.nz/business/farm...tbrain:starter
Correct me if I'm wrong, and I'll track it down at work later regardless,
But did the prospectus not state that they would pay a single annual dividend in the range of 9.2-9.6 cents for this year?
Don't currently hold but was looking to pick a few up
http://scalescorporation.co.nz/wp-co...As-Amended.pdf
The policy is on page 41 and states as above.
Doesn't look good that they've missed what they stated in the prospectus by so much
You have it wrong. The recent dividend declared was interim. The prospectus was final. The prospectus did not include an interim.
So now we can expect and interim AND a final.
https://www.nzx.com/companies/SCL/announcements/257977
One for the dividend hunters:) I expect gross dividend to we well north of 10%
How do you get that Noodles ?
Page 8 of the document linked states for 2015F 10.5-10.7 cents per share. I read this as the total payout for the year. At 10.6 and SP 142c this is about 7.5%. Do you think the interim will be in addition to this payment ?
Cheers, RTM
I found this mornings profit update for the 2015 year very positive.
EBITDA is project to be 6.2% up on prospectus $38.8mil at $41,2mil.
NTAT is projected to be 12.3% up on prospectus $18.5mil at $20.8mil.
With 139,779,006 shares on issue the eps is approx. .148 cents giving a very modest PE of 9.59 on $1.42 share price.
They are beating FY14 PFI and meeting FY15 PFI even though the apple price is being suppressed because of the Russian ban. Fantastic. Imagine how well they will do when the Russian issues go away.
Next news will be in Feb when they beat FY14 PFI and I'm guessing beat the FY14 PFI dividend. I expect 10%+ dividend.
Anyone up with how the fruit set has been in the orchards for next years crop?.
Have a listen to the man himself
http://www.radionz.co.nz/national/pr...-year-guidance
The 2 analysts offering 12 month price targets for Scales Corp Ltd have a median target of 182.50, with a high estimate of 200.00 and a low estimate of 165.00.
I suspect the low estimate will be raised when in the next couple of days.
Given it is fresh in the mind of the brokers, it may even make the broker picks for 2015.
http://markets.ft.com/research/Marke...asts?s=Scl:NZC
Thanks noodles heres hoping there is a good crop at harvest. The few trees here have lost a heck of a lot of young apples (and plums) in the storm passing through today. Not a commercial apple growing here, just commenting on weather dependent crop risk. Have emailed them just now.
Scales have given me the same press release as yours noodles,thanks. Is there anyone in say the Hastings region that can give us the occasional update on how the Apple crop is faring with mainly weather(wind and hail) issues, fruit set etc.?
Looks like its on the move up...
I talked to a harvester in Hawkes Bay who said that the recent bad weather had caused delays in harvesting but no damage.
Thanks wolf appreciate it:t_up:. They start apple main harvest feb/ march?
Wow, big volume through today almost 1.5ml share traded so far and not much movement in sp, anyone has more insight on this??
Looks like it is Salt Funds.
https://www.nzx.com/companies/SCL/announcements/259769
Sure enough, looks like sp has got some momentum building into it now..
Another SSH notice, this from Westpac....looking very attractive now...
I own a few of these.
I bought on the assumptions that:
the fundamentals look OK;
The P/E is attractive;
The downtrend is about to break;
The wedgie (or whatever the really technical people call it) is about to break to the upside;
But mostly I needed a 'fix' after a few weeks of cold turkey.
Best Wishes
Paper Tiger
Whether this proves to be smart money or dumb money (It was actually some Ringgit I found down the back of the sofa) remains to be seen.
But I look at it this way (assuming profit for FY14 & FY15 and 70% dividend payout, with full imputations or supplementary [for me :t_up:], as per the prospectus), being conservative :mellow: on valuations and with future growth of 6%:
31-Dec-14 value: $1.441
31-Dec-15 value: $1.556
31-Dec-16 value: $1.649
Dividends to be paid in FY15: 5c (final) + 4c (interim)
[6.1% net yield @ $1.48, 5.8% @ $1.56]
Dividends to be paid in FY16: 6.5c (final) + 5c (interim)
[7.8% net yield @ $1.48, 7.0% @ $1.65].
OK, the future is a little uncertain but I consider it probable that the market at some point will catch up with these dividend yields and raise the price above my valuations, and if it does not, well the the yields are good.
Best Wishes
Paper Tiger
FY refers to Scales Financial Year (and Malaysian Tax year) of 1-Jan to 31-Dec.
DYOR as usual.
SCL just signalled - MA50 crossed MA200.
Dubious value 'cross' as there's not much data. But I bought some more.
Bunter-valuation is 3.34
Discl: coming near-last in the ST share-picking comp.
I notice this share has risen off the lows - is it due to the falling dollar, does this mean they make more money?
Interesting spread today, bid @ $1.54 and ask @ $1.59, who blinks first??
No trades yet.....
I saw a lot of NZ apples in the UAE. How are we going with China?
Hopefully the Polish varieties will be complementary rather than competitive.
http://www.apples-europe.com/en#program_
expecting a good result and bounce above issue price soon
http://www.stuff.co.nz/business/indu...-up-in-january
This should give them further boost for earnings.
http://www.nbr.co.nz/article/nz-appl...r-productivity
lower volumes probably factored into forecasts you would think because they would have known from the flowering mths ago, also its down yr means bigger fruit should be which means more kilos for less fruit which should mean more money.
If fruit fly in Auckland is really bad and overseas markets dont want our apples how much does this affect Scales?
Not at all as Scales' orchards are in The Hawks Bay.
They are however building a huge cool store in Auckland,but fruit fly will not affect it.
It will affect the whole industry if the insect traps spread around the area start picking up more so heres hoping its just another isolated lovestruck lonely fruit fly event.
This one caught my attention, anyone holding this. Percy mate, hows your take on this one.
panic merchants moving in, probably heard they found number 5 in auckland
The big unknown as how this will impact on the SP, looking forward to a good result on Thursday but think this may limit any potential upside for a while.
Disc: Holding but not as confident as I was last week.
I bought a few as a bit of a punt. If the share price drops much further on panic selling it could be a good chance to top up at a cheap price. :D
If the panic isn't justified of course - lol
The result is a "cracker".
Actual profit is $18.4 mil,up 15.4% on prospectus $15.9mil.
"Very well positioned" 3rd to last line.
nice result, i like there logistics business for growth
Looks all right does it not?
Best Wishes
Paper Tiger
That's what I was wondering too.
I cant find it anywhere on the report.
The directors will decide in their wisdom if, and how much they will pay in May.!!
http://www.nbr.co.nz/article/scales-...es-cs-p-169339
Scales on acquisition hunt, developing new apple varieties....
Something not right with results.. Market didn't like it?
why is it they always find them near Mt roskill. Is MAF doing some restructure. last time when lot of MAF staff were about to lose jobs then this thing happened- when fruit fly was found then , job losses were canned. Bit suspicious..