Wasteco Group Ltd ---WCO

[bull....]

they should do a share consolidation

[BlackPeter]

I drove past their Blenheim Road yard on Monday.
I lot of expensive vehicles sitting there idle.
Idle vehicles are not generating income.

Funny, I made the same observation on a recent Friday early afternoon after the AGM. Somebody needs to find out at which times they actually employ their expensive vehicles ...

[BlackPeter]

Big trucks/equipment sitting idle would take a huge amount of profitable rubbish to fund.
Would be interesting knowing what % of their fleet is working on any day.
OK their fleet does look good.

Their fleet looks good, this is true. Some would say - much better than their books ...

[BlackPeter]

they should do a share consolidation

Agree. They mentioned that at the AGM, but I didn't got the impression its high priority for them.

[bull....]

Agree. They mentioned that at the AGM, but I didn't got the impression its high priority for them.

thats good they are thinking about it. better to raise more funds for aquisitions at a dollar than 6c

[Sideshow Bob]

https://www.nzx.com/announcements/421072

WasteCo has raised $1 million from a share placement to a wholesale investor in New Zealand.

The wholesale investor has subscribed for new shares in WasteCo at a subscription price of 6.5 cents per share. The funds raised from the share placement will be used to support the growth of the company's existing businesses and to assist with future growth opportunities.

Settlement and allotment of the new shares under the private placement is expected to occur on 6 November 2023.

The WasteCo board is in discussions regarding further share placement to other wholesale investors to raise up to an additional $2 million.

[whatsup]

https://www.nzx.com/announcements/421072

WasteCo has raised $1 million from a share placement to a wholesale investor in New Zealand.

The wholesale investor has subscribed for new shares in WasteCo at a subscription price of 6.5 cents per share. The funds raised from the share placement will be used to support the growth of the company's existing businesses and to assist with future growth opportunities.

Settlement and allotment of the new shares under the private placement is expected to occur on 6 November 2023.

The WasteCo board is in discussions regarding further share placement to other wholesale investors to raise up to an additional $2 million.

Wonder who it was , insiders ( who can be sophs ) or who?

[bull....]

Wonder who it was , insiders ( who can be sophs ) or who?

and more who's in the pipeline they say. lining up another aquisition ?

[percy]

Outlook
WasteCo is well-positioned for continued growth, with strong market positions in its
chosen sectors and the recent business acquisitions positively contributing to the
Group. In addition to the growth within existing businesses there continues to be
compelling acquisition opportunities in the South Island. The Group expects to
report an EBITDA result for the second half of FY24 in the range of $4.0million -
$4.5million on revenue in excess of $25million.

The above commentary on today's interim.
I thought it was a terrible result.Current liabilities of $21,847,000 far exceed current assets of $9,106,000
Total assets of $68,638,000 are only supported by $17,859,00 of equity,ie equity ratio of just 25.64%.Negative cash flow from operations was $899,000 while the loss for the period was $1,097,000.

[Sideshow Bob]

Outlook
WasteCo is well-positioned for continued growth, with strong market positions in its
chosen sectors and the recent business acquisitions positively contributing to the
Group. In addition to the growth within existing businesses there continues to be
compelling acquisition opportunities in the South Island. The Group expects to
report an EBITDA result for the second half of FY24 in the range of $4.0million -
$4.5million on revenue in excess of $25million.

The above commentary on today's interim.
I thought it was a terrible result.Current liabilities of $21,847,000 far exceed current assets of $9,106,000
Total assets of $68,638,000 are only supported by $17,859,00 of equity,ie equity ratio of just 25.64%.Negative cash flow from operations was $899,000 while the loss for the period was $1,097,000.

Certainly seems short of cash and need acquisitions to start generating some margin.

Expect their interest costs will be ramping up as well - need a good dose of capital.

Incidentally, saw a branded WasteCo truck go past work the other day - looked pretty flash.