Sure has its called MMP which equals More Morons in Parliament.
Printable View
Something has gone wrong clearasmud.
I have a cousin in Aussie and the price use to be about 20 cents different apart from the exchange rate, however this from Mr/Mrs/ms Google this morning
"As of this morning in Sydney, the cheapest petrol is $1.24 a litre, with the highest at $1.74. In Melbourne, the cheapest is $1.27 and the most expensive also $1.74. And in Brisbane, the cheapest is $1.27 and the priciest $1.76.Nov 19, 2019"
Even the highest price is a lot less than ours after the exchange rate!
It wouldn't be a difference in tax rates, would it?Quote:
Something has gone wrong clearasmud.
;)
Surely MMP is better than the previous system. 1981 saw the the socialist National Party headed by Muldoon with a majority of seats in Parliament despite only getting 39% of the vote. Previous election in 1978, saw the National Party get 40% of the vote and a majority of seats. In both elections more people actually voted for Labour candidates.
How much competition in fuel supply can an isolated small disperse market such as NZ actually support?
This is one HUGE EARNINGS DOWNGRADE ......along with a likely 20% cut in expected dividend
http://nzx-prod-s7fsd7f98s.s3-websit...952/313959.pdf
Bit if a sad story ......but once again hope of a better ‘rest of year’ has not turned into reality
But reading between the lines i’d say there is a lot of hope that post December things are going to get much better ...so they can meet this latest guidance
Beagle told us this was going to happen ...betcha even he is surprised as to how soon after the last announcement just a few weeks ago,
Good old Beagle..has a magic nose that can even sniff a black truffle in the forest....
Losing a prime wellington spot here, this is always pretty busy .
https://www.stuff.co.nz/business/118...-in-wellington
Heading for $4.50 as a few of us thought it would.
Interesting they cut EBITDA guidance by an amount in line with my expectations but dividend guidance is cut by nearly 20% from a mid point of 49 cents previously to 40 cents. That's a bit surrpiseing, I would have thought 42-44 cps. Perhaps the size of the dividend guidance cut signals the lack of confidence they have about their business model as a result of pending legislative changes ?
Serious dividend cut could also be as a result of capex requirements I was previously alluding too, $2m for new fuel price display signs and ~ $9m for expanded jet fuel capacity at their Wiri storage facility.
Too early to have a think about whether 40 cents is the new benchmark to think about in terms of future years dividends but the new EBITDA guidance is a fresh multi year low that won't surprise me if its very sticky.
I feel sad for shareholders. I don't have much confidence in Mike Bennetts for reasons I won't go into.
$4 on the cards now.
pe looks very high
retail margins impacted forecast the most , i would say they are still uncompetitive on retail pricing so expect more pain to come as they l;ower pricing to sustain volumes