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23-01-2017, 06:02 PM
#621
 Originally Posted by Apathy
Ha.....their annual report told me the same thing!;-)
So it really is SEA all over again..... they have sold all the good stuff and booked a profit but the low grade stuff sits in stock over valued........ sorry but there is plenty of demand locally for Manuka Honey - they just don't want to meet the market price.
If you are correct - board and management all need the flick. It's amateur hour - book big profits and build stock of the low grade offtake/by product at unrealistic valuations.
http://www.nzherald.co.nz/business/n...ectid=11700416 Looking back at what was said and the situation now faced... http://www.nzherald.co.nz/business/n...ectid=11787248 what a fiasco !
Last edited by Beagle; 23-01-2017 at 06:38 PM.
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
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23-01-2017, 06:43 PM
#622
Originally Posted by Roger
Not a big position for me ~ 4% portfolio and I am very comfortable with that.
Are you still holding Roger?
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23-01-2017, 06:49 PM
#623
In that NZ Herald article - In May last year, Comvita co-founder Alan Bougen sold down his stake in Comvita for just over $12m. Bougen's trust - Flaxmill - said it had sold down its stake in the company to just over 5 per cent from 7.6 per cent at $12.06 a share.
Must have had a long range weather forecast.
Maybe regretting not selling the other 5% but is still collecting his directors fees
That Luke Bunt seems to bring ill fortune to what he is involved in of late - pumpkin patch and now this.
Last edited by winner69; 23-01-2017 at 06:57 PM.
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
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23-01-2017, 07:05 PM
#624
Originally Posted by winner69
In that NZ Herald article - In May last year, Comvita co-founder Alan Bougen sold down his stake in Comvita for just over $12m. Bougen's trust - Flaxmill - said it had sold down its stake in the company to just over 5 per cent from 7.6 per cent at $12.06 a share.
Must have had a long range weather forecast.
Maybe regretting not selling the other 5% but is still collecting his directors fees
That Luke Bunt seems to bring ill fortune to what he is involved in of late - pumpkin patch and now this.
On the other side, the Chinese must be feeling rather skunk - 2m shares placed to them in October 2016 at $10.60 per share!
Benefit of hindsight, it definitely looks like they needed the placement money and the IP sale money to shore up finances.
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23-01-2017, 08:51 PM
#625
Originally Posted by winner69
In that NZ Herald article - In May last year, Comvita co-founder Alan Bougen sold down his stake in Comvita for just over $12m. Bougen's trust - Flaxmill - said it had sold down its stake in the company to just over 5 per cent from 7.6 per cent at $12.06 a share.
Must have had a long range weather forecast.
Maybe regretting not selling the other 5% but is still collecting his directors fees
That Luke Bunt seems to bring ill fortune to what he is involved in of late - pumpkin patch and now this.
Have you done the maths?
They bought at ...
They sold 2.6% at ...
Thier net position is ...
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23-01-2017, 09:35 PM
#626
Originally Posted by Baa_Baa
Have you done the maths?
They bought at ...
They sold 2.6% at ...
Thier net position is ...
Yes he has made heaps
but pretty shrewd cashing in a few at $12
Can't blame him though - he must have said to himself jeez $12, they not worth that much ....(and I have a deck to build)
Without Alan there would be no Comvita
Last edited by winner69; 23-01-2017 at 10:03 PM.
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
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24-01-2017, 12:21 AM
#627
http://seekingalpha.com/article/4037...tri-healthcare
A bullish view (before today's downgrade) - if $7.80 represented good entry level due to price correction, $6.50 today must be even better?
Real impact of today's downgrade will be seen tomorrow - will the Chinese shareholders see this as an opportunity to top up or will they stand aside. Institutions will most certainly be watching closely.
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24-01-2017, 08:47 AM
#628
Originally Posted by Roger
https://www.nzx.com/files/attachments/246731.pdf
Main points:-
Very difficult trading conditions in first quarter. Ouch
Expecting a loss in the first half to 31 December - Double Ouch !
Expecting net profit for FY17 to be broadly similar to FY16 - Triple ouch, no profit growth on the back of increased share capital = EPS reduction !
Target of $400m annual sales has "very conveniently" been pushed out to 2021, from 2020.
Not impressed that they didn't front foot the whole regulatory issue in China properly much earlier.
At least they have taken the positive step of culling staff, (obviously this is a good step by management) but its fair to say the company is experiencing significant growing pains.
I expect the SP to under-perform until they can prove they can regain growth momentum.
Originally Posted by ratkin
Are you still holding Roger?
See post above titled "Sold Immediately" on 26 October 2016. I had previously sold half at around $11 when it tripped down through the 100 day MA and got the rest away at just over $10.
Very happy to be out of this and I am planning on staying out until at the very earliest the real result is revealed for the FY17 year in late August. If they go under $3 before then I would reconsider my position. If I was still holding now, I would definitely sell at $6.50, if that's the implied question you're asking me ?
Last edited by Beagle; 24-01-2017 at 08:49 AM.
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
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24-01-2017, 09:27 AM
#629
Originally Posted by Roger
See post above titled "Sold Immediately" on 26 October 2016. I had previously sold half at around $11 when it tripped down through the 100 day MA and got the rest away at just over $10.
Very happy to be out of this and I am planning on staying out until at the very earliest the real result is revealed for the FY17 year in late August. If they go under $3 before then I would reconsider my position. If I was still holding now, I would definitely sell at $6.50, if that's the implied question you're asking me ?
Good on you Roger.
I have learnt the hard way from years past that profit warnings do come in two's and three's. In this case probably more so as the CEO seems clueless as to how much the China market really means to the company's sales and profits.
In the book 'Naked Trader', one of the biggest mistakes made by traders and investors is ignoring profit warnings. A profit warning means a company is in some kind of trouble or is having problems. Why take the risk just because the sp looks cheaper than what it was before?
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24-01-2017, 11:02 AM
#630
Originally Posted by Balance
http://seekingalpha.com/article/4037...tri-healthcare
A bullish view (before today's downgrade) - if $7.80 represented good entry level due to price correction, $6.50 today must be even better?
Real impact of today's downgrade will be seen tomorrow - will the Chinese shareholders see this as an opportunity to top up or will they stand aside. Institutions will most certainly be watching closely.
Could be the reason why its going up today.
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