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@ 0.295 the company is now valued the same as its insurance payout.
Less than half its NTA.
And a fifth of revenue.
Last edited by haewai; 08-05-2023 at 01:13 PM.
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Helpful update on recovery, some positive wordings.
Now received $0.50 per share in insurance.
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Lost a 'yeah but' case against Godfrey Hirst: https://adls.org.nz/godfrey-hirst-ge...g-act-dispute/
Informative update from Rural News - https://www.farmersweekly.co.nz/news...to-yarn-plant/
Going to be a complicated annual result I reckon. Maybe the glossy photos in the annual report might be less scenic this time around.
Last edited by haewai; 22-07-2023 at 12:08 PM.
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 Originally Posted by haewai
From what I've heard of Napier is everything is very slow going and staff are suck and tired of the uncertainty in there jobs Alot leaving as they can't wait for uncertainty. Not sure if nspier will survive or reach there pre cyclone outputs
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How much dough will this outfit have left in kitty after it sold the real estate under itself
for a better life full of untold marketing success and prosperity going forwards ?
Any ? , much ? .. or no dividend likely ? 
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Dividends have not been planned for a while. I'm invested because I appreciate the stategic turn around in recent years, and the sustainability efforts, and they had a bright few years ahead until the cyclone made its disruption.
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Originally Posted by haewai
Dividends have not been planned for a while. I'm invested because I appreciate the stategic turn around in recent years, and the sustainability efforts, and they had a bright few years ahead until the cyclone made its disruption.
Yes could be a bit of a value trap and ducks have to line up for wool to have its day in the sun again.Speculative but I will continue to hold and may top up.
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https://www.nzx.com/announcements/415177
Bremworth Limited (NZX: BRW) provides the following update on its mitigation and business continuity plans following Cyclone Gabrielle which impacted its Napier yarn spinning plant on 14 February 2023.
Team wellbeing
A detailed assessment of the damage to the Napier plant and buildings, involving external engineering specialists over the last few months, has now been completed and the results are being reviewed by the loss adjustors and Bremworth. The insurance claims process is expected to take a number of months to complete.
Bremworth has been very conscious of the impact on staff during this time. While employees have been paid since the plant went offline in February 2023, the Company is aware that team members are looking for more clarity around their future at the Napier plant. In response to staff feedback, Bremworth is presenting several options to team members that may assist with their personal circumstances and wellbeing – specifically, voluntary redundancy or expressions of interest for redeployment to Bremworth’s Whanganui plant. Career and financial advice, as well as emotional support, is available to all employees.
CEO of Bremworth, Greg Smith, commented: “Since the weather event in February, our priority has been our people. While we do not yet have a definitive view around the future of the plant, we are doing all we can to support them and working through the process in good faith.”
Business continuity plans in place and progressing well
Insurance payments to date have ensured Bremworth is in a strong position to continue to implement its mitigation and business continuity plans, support affected staff and meet its ongoing obligations. Further insurance payments are expected upon completion of the assessment of damage to buildings, plant and equipment, and the loss of inventory and profit, due to the interruption to the business from Cyclone Gabrielle.
Bremworth confirms that alternative supply arrangements for dyed fibre and yarns are proving successful, putting the Company into an encouraging position to continue to supply key product ranges to its distribution partners. The new hybrid supply chain model is complementary to Bremworth’s existing operations and will insulate the Company from future events that could potentially disrupt operations.
25 July 2023
ENDS
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Is this a net net?
At half year they had $10m cash on balance sheet and no debt.
They have received $35 million so far from the insurance payout with more to come.
So maybe $45m in CASH ON THE BALANCE SHEET and no debt and market cap is $33M???
By the sounds of it the flooding and subsequent insurance payout has been a blessing for the company as they can source yarn from overseas and some local and it works better for the business.
I like the story. I like new CEOs coming in changing things and then you see it working, in this case much better margins. I did very well with MHJ and following their new management and watching their margins increase nicely. Could be a similar story here.
New CEO now has lots and lots of cash to invest in Aussie. Very tough market and execution risk obviously.. but with a clean balance sheet and some promising signs in recent performance i am along for a ride.
Operating cash flows slightly negative by $1m but that is put down to the investments and build out of network in Aus.
Could be a multi bagger here.
DYOR enjoy
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Originally Posted by Rawz
Is this a net net?
At half year they had $10m cash on balance sheet and no debt.
They have received $35 million so far from the insurance payout with more to come.
So maybe $45m in CASH ON THE BALANCE SHEET and no debt and market cap is $33M???
By the sounds of it the flooding and subsequent insurance payout has been a blessing for the company as they can source yarn from overseas and some local and it works better for the business.
I like the story. I like new CEOs coming in changing things and then you see it working, in this case much better margins. I did very well with MHJ and following their new management and watching their margins increase nicely. Could be a similar story here.
New CEO now has lots and lots of cash to invest in Aussie. Very tough market and execution risk obviously.. but with a clean balance sheet and some promising signs in recent performance i am along for a ride.
Operating cash flows slightly negative by $1m but that is put down to the investments and build out of network in Aus.
Could be a multi bagger here.
DYOR enjoy
Certainly looks interesting.Still have my doubts about wool carpets.
I looked at it a few weeks ago,but think I was concentrating on another company [2cc] at the time.
ERG in Aussie is the same,ie having more cash on hand than their market cap.
However HMY's announcement made me put in a buy order to top up.
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