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  1. #21
    percy
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    Quote Originally Posted by JeremyALD View Post
    Good thoughts Percy. Whilst the report was positive I did notice their language differs a lot from THL. As an example they constantly said "in line with expectations" rather than "exceeds expectations. I'm happy to hold both THL and ATL as I think the sector is very positive and had plenty of opportunities for both.
    Yes the market really likes those companies that "exceed expectations",and punishes those which are only "in line with expectations."
    I also agree with your comments the sector is positive and plenty of opportunities for both.

  2. #22
    Banned
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    Quote Originally Posted by percy View Post
    Yes the market really likes those companies that "exceed expectations",and punishes those which are only "in line with expectations."
    I also agree with your comments the sector is positive and plenty of opportunities for both.
    I'm not so sure about Apollo Percy. I haven't delved into Apollo as deeply as I have THL but Apollo looks to have quite a lot of debt and not be performing as strongly operationally to me. Acquisitions, negative cash flows, small dividends which is sensible given all the debt but I'd be concerned about their execution. If they make mistakes the debt will get them.

    Contrast with THL which makes more profit, pays much higher relative dividends, and has $100m or so less debt and overall much less balance sheet leverage. THL is definitely the safer investment to me but if Apollo execute very well they may outperform due to the leverage etc.

    As I say I haven't delved into Apollo deeply - am I missing something obvious?

  3. #23
    percy
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    Some of the debt,and some of the cashflow outgoings were for acquisitions,before those acquisitions produced cashflow.
    Debt and the true cashflow position will most probably be easier for me to comment on at the year's end.
    In the meantime the acqusitions look sound,and new factory etc looks as though they will produce savings.Integration on course,and outlook positive.

  4. #24
    percy
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    Pipebuilder has posted Morgans' updated research on ATL, on Hotcopper.
    Well worth reading.

  5. #25
    percy
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    finnigan86 has posted a great post on ATL thread at www.hotcopper.com.au.
    The article ;Apollo's Luke Trouchet on building an international business 'one step at a time' came from www.businessnewsaus.com.au
    Perhaps a kind poster here would post the link.?

  6. #26
    Speedy Az winner69's Avatar
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    Quote Originally Posted by percy View Post
    finnigan86 has posted a great post on ATL thread at www.hotcopper.com.au.
    The article ;Apollo's Luke Trouchet on building an international business 'one step at a time' came from www.businessnewsaus.com.au
    Perhaps a kind poster here would post the link.?
    https://www.businessnewsaus.com.au/a...t-a-time-.html

    You need to give them your email address to read the whole thing but it’s free
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  7. #27
    percy
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    Quote Originally Posted by winner69 View Post
    https://www.businessnewsaus.com.au/a...t-a-time-.html

    You need to give them your email address to read the whole thing but it’s free
    Thanks for posting the link W69.

  8. #28
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    It's on the verge of my buy list. I generally prefer lower gearing - are you comfortable with their current debt levels, and ability to grow without capital dilution? How cyclical do you think they will be?
    LOVing LOV thanks btw

  9. #29
    percy
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    I think my posts #18 and #23 pretty much covers my thoughts.
    I read somewhere today tourist numbers in NZ were very high in January.See PS at the bottom of my post..
    I was just thinking how our holidays have changed.A couple of years ago, we would just get in a plane and fly to Gold Coast,or Auckland,and just stop at a motel when we either felt tired, or liked the look of a place.Nowdays with so many tourists, we have to book our motels months in advance.,
    So the sector has plenty of worldwide growth.
    Did you see the way ATL clip the ticket on the appliance they put in their rental vans,or the vans they sell.Clip the ticket forever.!!
    LOV.We have to hang onto our winners.

    PS.Cymonger's post #2450 on THL Tourism Holdings thread, gives the link to the article.
    Last edited by percy; 13-03-2018 at 07:56 AM.

  10. #30
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    Good stuff cheers for that.
    As for NZ tourism, saw Oprah Winfrey on the hugely popular Late Show the other night; raving about NZ being a must visit, with Stephen Colbert agreeing.

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