Tegel IPO

[hardt]

A pretty much expected result without any surprises.

Solid result nonetheless... 4.1c dividend is great, getting more book for your buck is always a good thing too... Still dirt cheap going forward IMHO, opinions change and so do operating metrics...

[JeremyALD]

Fully imputed too, not bad. I would of liked to hear more about the domestic market and pricing - but seems soft pricing will be around in FY18 too (albeit starting to ease)

[winner69]

I think punters at the moment aren't attracted to Tegel because it might be a great company but because it shareprice is so so cheap. Seen as so cheap thst even vegetarians and animal lovers could be tempted to buy.

[silverblizzard888]

Looks like they made it across the line for NPAT, though by the looks of only by having a 53 week time frame and possibly because of 'other revenue' increasing from 48 to 53 million, which could be legitimate or desperate selling to make sure they crossed the threshold. If not for 53 weeks they would not have met their export target and not much growth on the export end of things. Margins are down and vague forecast given for future outlook. Overall it looks alright, looks better dressed than I thought, though still a bit of uncertainty about these guys. Dividend seems alright . Nothing to convince me to be a shareholder, but hope shareholders are happy with this.

[winner69]

Looks like they made it across the line for NPAT, though by the looks of only by having a 53 week time frame and possibly because of 'other revenue' increasing from 48 to 53 million, which could be legitimate or desperate selling to make sure they crossed the threshold. If not for 53 weeks they would not have met their export target. Margins are down and vague forecast given for future outlook. Overall it looks alright, looks better dressed than I thought, though still a bit of uncertainty about these guys. Dividend seems alright . Nothing to convince me to be a shareholder, but hope shareholders are happy with this.

Food stocks always seem a bit problematical

Like the staples of all staples in bread, milk etc - goodman Fielder was a dog of an investment when listed. Always at the beck and call of customers.

[JeremyALD]

I think the lack of forcast is a good thing in away. They've learn from their previous mistakes and providing massive forcast ranges. I'd say they are very confident they'll at least improve NPAT next year, but have decided not to go into any further details to not disappoint the market again.

[winner69]

I think the lack of forcast is a good thing in away. They've learn from their previous mistakes and providing massive forcast ranges. I'd say they are very confident they'll at least improve NPAT next year, but have decided not to go into any further details to not disappoint the market again.

You are easily pleased - they weren't going to say we are going to make less next year were they!!!

[trader_jackson]

Pretty classy presentation

https://www.nzx.com/files/attachments/260622.pdf



Pity they mentioned the PFI numbers ....but that's all dusted and forgotten eh

Then need it to try hide all the issues... they must have dreamed up the PFI because nothing is really that close... but at least most were a bit better than last year... another year of growth on all fronts right? - something they are keen to point out I note... pitty they didn't clearly point out that operating cash flow actually got worse (not way better like they were expecting)... at least we now know why that high flyer on sum other boards decided to quit abruptly.

Good luck to the holders, at least a 4 cent dividend goes some of the way to help for the dozens of cents erased since listing

[couta1]

So it's priced about right currently.

[JeremyALD]

You are easily pleased - they weren't going to say we are going to make less next year were they!!!

Didn't you just say it was a "great result". Anyway let's see what happens. They have a very dominate NZ market position and there are positives in this stock. Everyone is very keen to crusify them on this site, however if you look at the current SP and results (whilst ignoring the prospectis, which yes deserves to be factored in) there does seem to be value. Someone would need to do some serious convincing to tell me this stock is worth than less than $1 with growing revenues, export growth and 52% NZ market share who has pulled out 34 million NPAT in a massive chicken glut.