Hlg have much higher stock turns .....envy of most global retailers .....ans very efficient use of capital
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Very rarely will you find a company where management is both capable and their interests are so closely aligned to shareholders as with Briscoes. Sure it can result in less risk taking and possibly slightly less aggressive growth ambitions at times when Rod is getting on in years but when the Rod owns most of the ship you know he’ll see it through the storm with little fuss. If the stockmarket closes for 10 years you can be assured of excellent management and reliable dividends.
You’ll have to look very hard to find management forgoing their salary for the benefit of shareholders.
up to $3.74 but on very small volumes. Sharesies crowd having a look now?
saved 20 odd million from not doing the end of year div to add to the 67 million in cash on hand already , so plenty of cash in the bank to reward share holders hopefully.
Ummm yes... but that's operating working capital debt - normal expenses + employees and paper 'liabilities' created by the change in accounting standards for leases. No bank debt. The accounting standard changes are of course designed to make financial statements 'easier' to understand!
Well done Rod
Rod Duke, Group Managing Director, said: “We’re delighted to have produced a strong first half result despite the extraordinary upheavals experienced during this first six months. To achieve a profit so close to last year, with stores unable to open for 50 days of that time, is a great result.“
And a divie for those who like divies
http://nzx-prod-s7fsd7f98s.s3-websit...417/330232.pdf
One thing that’s brilliant about Briscoes financial reporting they don’t bother with this EBITDA crap or underlying or normal or other such things.
awesome result considering the covid situation
increased dividend on last year
gross margins up
cash balance near 100m
sales this new period up on last year
pretty impressive
"The steps taken by the group to protect the company and preserve liquidity have ensured our balance sheet has remained strong which is critically important in these uncertain and unpredictable times. The strong balance sheet gives us the flexibility to continue to protect the business as well as fund strategic initiatives to grow company profitability," Duke said.
August sales had kicked off strongly in the second-half, Duke said
https://www.nzherald.co.nz/business/...ectid=12363008
Well said SB. The management is just 1 person Rod the great and he owns how much, 70%?? Also, he did not fire even a single employee during Covid. Profits will flow through as dividends. No debt. Institutions will not be interested in Briscoes and a good stock for us retail investors..