Market cap of $338m so still trading on a forward PER of 12.5X to 13.5X.
Realistically should be on PER now of 10 times (max).
75 cents is where it is heading, me thinks.
I couldn't agree more. 10 times absolute max. Management scare the wits out of investors with huge so called one-off's and don't even have the decency to say whether the dividend is safe or not or even mention the quantum of the head office cost savings. Beggars belief and really highlights the inexperience of this company in dealing with the investing public in my opinion. It occurs to me they really don't care. The impression I gather is as long as their snouts are in the trough gobbling up as much as they can, shareholders are just a nuisance inconvenience.
Trust us we know what we're doing. Yeah right ! is it too early for a Tui ?
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
I couldn't agree more. 10 times absolute max. Management scare the wits out of investors with huge so called one-off's and don't even have the decency to say whether the dividend is safe or not or even mention the quantum of the head office cost savings. Beggars belief and really highlights the inexperience of this company in dealing with the investing public in my opinion. It occurs to me they really don't care. The impression I gather is as long as their snouts are in the trough gobbling up as much as they can, shareholders are just a nuisance inconvenience.
Trust us we know what we're doing. Yeah right ! is it too early for a Tui ?
Same issues as Metro Glass have post IPO ...they are ill prepared for life under public scrutiny
But then many would say that both were on hiding to nothing anyway after all the outrageous statements in the glossy IPO documents
What were IPO prices again?
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
I just sold all my TGH. Fed up with this stupid chicken.
Wasn't impressed with Phil Hand at the AGM last year. Someone asked for more clarification on guidance and Phil refused to give any more detail.
Will be re-allocating funds to more OCA.
I think OCA has more chance of getting to 1.55 than TGH does.
Same issues as Metro Glass have post IPO ...they are ill prepared for life under public scrutiny
But then many would say that both were on hiding to nothing anyway after all the outrageous statements in the glossy IPO documents
What were IPO prices again?
$1.70 for MPG and $1.55 for TGH.
Article behind the paywall today on NBR. Basically calls the downgrade a shocker and goes on to say that THG has disappointed investors EVERY time it has reported.
As I warned at the outset of this tread, this company was floated when feed costs and distribution costs, (fuel) were at record cyclical lows.
I think the size of the second half downgrade is a clear warning as to this companies future sustainable profitability.
Its clear to be this is headed lower and the level of dividend is at risk. Management asleep at the wheel and trying to claim that profit growth will resume next year lol.
I suppose it will if they have less annual so called "one off" costs next year.
Last edited by Beagle; 08-03-2018 at 05:13 PM.
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
Disappointing for holders – makes the comparison with Inghams even more striking.
Disclosure: hold ING
yes ..this is what Inghams said a week or so ago re NZ
In spite of market dynamics remaining challenging in NZ they say — The company said New Zealand performance improved in the first half, supported by growing poultry volumes and dairy feed demand, with revenue for New Zealand $191.1m for the half, up from $185.5m for the first half of the 2016 fiscal year.
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
yes ..this is what Inghams said a week or so ago re NZ
In spite of market dynamics remaining challenging in NZ they say — The company said New Zealand performance improved in the first half, supported by growing poultry volumes and dairy feed demand, with revenue for New Zealand $191.1m for the half, up from $185.5m for the first half of the 2016 fiscal year.
An Ingham contract farmer told friend of mine that he is very happy with his contract - Ingham takes care of everything related to the breeding, processing and sale of the chickens and he has to just make sure the farm properties and machinery/equipment are in top condition (especially the air-con!).
Tegel's contract is more generous but he has less confidence as they have been very aggressive in adding quantity in recent years.
Guess the chooks are coming home to roost for Tegel - all the increased volume from contracted farmers that they are obliged to take but in a market that's not growing as fast?
Sign of the times - boneless breast meat on sale at $6.99 at Mad Butcher and $7.99 at the local Pak n Save. You would struggle to buy that at under $10 a year ago.
Originally Posted by Balance
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