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Thread: FXL Flexigroup

  1. #1
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    Default FXL Flexigroup

    Hi all,

    Thought I would start a thread on Flexigroup (don't think there is any other?), they have had an impressive share price rally, still trading cheap (good PE, good NTA as % of SP, good yield, and a growing company)... not to mention they now get around 45% of their revenue from NZ (and have quite a heavy presence both commercially and in retail in NZ)

    Look forward to discussing (annual results out 30 August!)

    Disclosure: Have been holding since 2014, but recently topped up at $2.40 (May) and $1.72 (July)... surely I am not the only NZ holder of this company? (nice that they pay dividends direct to my NZ bank account as well!)

  2. #2
    Divorced from logic Hectorplains's Avatar
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    Quote Originally Posted by trader_jackson View Post
    Hi all,

    Thought I would start a thread on Flexigroup (don't think there is any other?), they have had an impressive share price rally, still trading cheap (good PE, good NTA as % of SP, good yield, and a growing company)... not to mention they now get around 45% of their revenue from NZ (and have quite a heavy presence both commercially and in retail in NZ)

    Look forward to discussing (annual results out 30 August!)

    Disclosure: Have been holding since 2014, but recently topped up at $2.40 (May) and $1.72 (July)... surely I am not the only NZ holder of this company? (nice that they pay dividends direct to my NZ bank account as well!)
    http://www.fool.com.au/2016/06/29/is...ecret-bargain/

    A reasonably balanced view from MF (who'd of thunk it?) back in June though.

  3. #3
    ... malus's Avatar
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    I have a "toe in the water" just to keep a watching brief on this company... looking forward to their annual results too... you and I seem to be the only ones with it in the Aussie stock pick comp?

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    Quote Originally Posted by malus View Post
    I have a "toe in the water" just to keep a watching brief on this company... looking forward to their annual results too... you and I seem to be the only ones with it in the Aussie stock pick comp?
    Yes, Aussie is a big market (many stocks), but I couldn't resist recommending Flexi... and I am confident it will recover and produce a very good return year on year.

    I also wouldn't trust MF, as I have noticed they seem to be on (ie buy) and off (ie sell) this stock (mostly on) no matter what the price is over the past few years.

    I think after these results, this stock will gain more attention in NZ, both (hopefully) in the media and on sharetrader.

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    Default

    Very solid results, a lot of buying going on

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    Default

    Half year coming up, will be interesting to see how things are going... no profit upgrade/downgrade so can't be to bad (or to good) I suppose

    FY17 Half Year are due to be released to the ASX pre market open on Tuesday 21st February 2017 (likely around 11 or 12 NZ time)


    Mr. Symon Brewis‐Weston, Chief Executive Officer and Mr. Ross Aucutt, Chief Financial Officer will
    present the results on a teleconference at 10.30am (AEST) on Tuesday 21st February 2017 (1:30pm NZ time, I will try listen in).
    A live (passive) URL link will be available at http://edge.media‐server.com/m/p/mx242w85
    An archive of the event will be placed on the company’s website shortly after the event.

    This will hopefully propel Flexigroup way above the $2.50 resistance

  7. #7
    percy
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    Quote Originally Posted by trader_jackson View Post
    Half year coming up, will be interesting to see how things are going... no profit upgrade/downgrade so can't be to bad (or to good) I suppose

    FY17 Half Year are due to be released to the ASX pre market open on Tuesday 21st February 2017 (likely around 11 or 12 NZ time)


    Mr. Symon Brewis‐Weston, Chief Executive Officer and Mr. Ross Aucutt, Chief Financial Officer will
    present the results on a teleconference at 10.30am (AEST) on Tuesday 21st February 2017 (1:30pm NZ time, I will try listen in).
    A live (passive) URL link will be available at http://edge.media‐server.com/m/p/mx242w85
    An archive of the event will be placed on the company’s website shortly after the event.

    This will hopefully propel Flexigroup way above the $2.50 resistance
    Support at $1.70.
    What went wrong.?

  8. #8
    Speedy Az winner69's Avatar
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    Quote Originally Posted by percy View Post
    Support at $1.70.
    What went wrong.?
    That's one sad looking chart
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  9. #9
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    Quote Originally Posted by winner69 View Post
    That's one sad looking chart
    Extremely sad, and extremely crazy... every year produced a record profit, yet you wouldn't think it from the chart.
    Trading at forward PE of 7.0 right now, dividend (even with reduced payout ratio for more growth) of over 4.5%.

    Strategy day on June 22 - hoping this will stabilize things as right now the market is pricing in a large downgrade from the current worst case scenario (as indicated by flexi early May) of 90m NPAT.

    As I have stated on the hot copper form:
    "things aren't that bad in Aussie + things pretty good in NZ + FXL narrows its profit range a fraction by 2m = over 220m (about 25%) wiped of the market cap in a fortnight... This is so illogical it has to be trump mathematics?!"

  10. #10
    percy
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    Thanks TJ.
    I have made a note in my diary for the 22nd,and will read up about them before then, so I better understand the business.
    Their acquisition of Fisher and Paykel Finance seemed good.
    With my over weighted positions in HBL and TRA, in NZ, I have stayed away from Aussie financial businesses,however I have been known to change my mind.!!
    Last edited by percy; 05-06-2017 at 06:21 PM.

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