Good he's going as he clearly can't even read the mood of a meeting for goodness sake. Good companies produce good results. Really bad companies produce never ending lists of excuses.
Good he's going as he clearly can't even read the mood of a meeting for goodness sake. Good companies produce good results. Really bad companies produce never ending lists of excuses.
Leaving on a low and knowing Neil Craig, will be something which preys on his mind (just as Ralph Norris looks these days after the FBU debacle under his watch).
Which is a pity because Comvita did make several good strategic decisions in its early days.
Company became too arrogant and instead of building up strong strategic partnerships with its suppliers, decided to try and keep most of the spoils to itself. Bad bad mistake.
It should keep him up at night Balance as this company has been an unmitigated fiasco in recent years, a total disgrace. I can't recall any company being so wildly and completely wrong with their forecasting on such a regular basis that basically any forecast from this company is rendered completely worthless. They should simply stop trying to forecast altogether and simply report their pathetic results.
One industry insider tells me there are major systemic flaws with their business model in that they ostensibly to some degree rely on beekeepers to be honest with their volume, which in this industry is not a good idea and is in some ways analogous to having an unmanned honesty box in a fruit stall. That's what I've been told....for what its worth. I see this as uninvest-able at any price.
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
Sad that he says he can't sell it , I think there is a difference between not being able to sell it and making a profit on the sale .....although he can't go on forever selling at a loss.
All comes down to the supply and marketing as it's still $ 6.00 for 500 grams of normal honey at the supermarket.So I'd buy a kilo off him at a decent price.
Sad that he says he can't sell it , I think there is a difference between not being able to sell it and making a profit on the sale .....although he can't go on forever selling at a loss.
All comes down to the supply and marketing as it's still $ 6.00 for 500 grams of normal honey at the supermarket.So I'd buy a kilo off him at a decent price.
Bought some multi-floral manuka honey on super special for some overseas visitors last week from our local Pak n Save - 50% off.
That's how the industry is going to have to do to get rid of stock.
Sad that he says he can't sell it , I think there is a difference between not being able to sell it and making a profit on the sale .....although he can't go on forever selling at a loss.
Convita keeps reminding its shareholders of that as its honey mountain and bank debt that funds it grows ever bigger each year.
What could possibly go wrong with this "brilliant" business plan...
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
Early report out of Northland is that the season is favorable... not that it'll help this lot...
Quite a few smaller/recent beekeepers struggling or going down. Those that are just pack and sell are making their margins but the yellow fever is no more....
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