sharetrader
Page 19 of 19 FirstFirst ... 91516171819
Results 271 to 281 of 281

Thread: SCY Chart

  1. #271
    Junior Member
    Join Date
    Dec 2019
    Posts
    21

    Default

    Quote Originally Posted by percy View Post
    Posted 20-12-2018.
    The battle has got a lot harder.
    6 months to 31st October.2019.
    Revenue down 16.8% to $95,050,000
    Loss $2,161,000.
    Hi Percy. Probably a stupid question but i'll try anyway.

    As of 1st July 2019 SCY had a tangible asset backing of .77 per share, and is currently trading for .25 per share. The top 3 shareholders own a controlling stake in the company, so what is stopping them buying up another 25% if the sp continues downhill (or talking to minor shareholders) and liquidating the company for an approximate 300% return (which they have no chance of getting if they continue to hold)?

  2. #272
    Guru
    Join Date
    Apr 2003
    Location
    Wellington, New Zealand
    Posts
    3,637

    Default

    Quote Originally Posted by Gerald View Post
    Hi Percy. Probably a stupid question but i'll try anyway.

    As of 1st July 2019 SCY had a tangible asset backing of .77 per share, and is currently trading for .25 per share. The top 3 shareholders own a controlling stake in the company, so what is stopping them buying up another 25% if the sp continues downhill (or talking to minor shareholders) and liquidating the company for an approximate 300% return (which they have no chance of getting if they continue to hold)?
    What is that asset backing of 77c per share made up of? Is it realisable? How many long term leases do they have and how onerous would it be to exit them?

  3. #273
    percy
    Join Date
    Oct 2009
    Location
    christchurch
    Posts
    13,966

    Default

    Quote Originally Posted by blackcap View Post
    What is that asset backing of 77c per share made up of? Is it realisable? How many long term leases do they have and how onerous would it be to exit them?

    Now down to 67 cents.I very much doubt there is any realisable value.Value has been in Smiths Finance.However it relies on retail to originate deals.Without retail they have no originators.Smiths no longer own the Colombo Street store property.
    Gerald .Welcome to sharetrader.
    Last edited by percy; 14-12-2019 at 06:44 AM.

  4. #274
    An Awesome Cool Cat winner69's Avatar
    Join Date
    Jun 2001
    Location
    , , .
    Posts
    25,885

    Default

    Hey percy ...hope history not repeating itself

    http://nzx-prod-s7fsd7f98s.s3-websit...819/319821.pdf
    “Just consider that maybe the probability of you being wrong is higher than you think.”

  5. #275
    Senior Member
    Join Date
    Oct 2014
    Location
    rural canterbury
    Posts
    641

    Default

    Quote Originally Posted by winner69 View Post
    Hey percy ...hope history not repeating itself

    http://nzx-prod-s7fsd7f98s.s3-websit...819/319821.pdf
    I'd say they are toast.

  6. #276
    percy
    Join Date
    Oct 2009
    Location
    christchurch
    Posts
    13,966

    Default

    Quote Originally Posted by winner69 View Post
    Hey percy ...hope history not repeating itself

    http://nzx-prod-s7fsd7f98s.s3-websit...819/319821.pdf
    I fear it is.
    Last edited by percy; 27-03-2020 at 03:07 PM.

  7. #277
    percy
    Join Date
    Oct 2009
    Location
    christchurch
    Posts
    13,966

    Default

    Quote Originally Posted by percy View Post
    Maybe had SCY followed Gerry Harvey's "franchise" model, 20 years ago, they would be "well positioned" for anything today.
    Certainly shareholders would have benefitted.
    Above posted 22-12-2017.

  8. #278
    Junior Member
    Join Date
    Jul 2018
    Posts
    6

    Default

    Someone on reddit shared that the CEO sent a thank you email to employees today for their "resilience and continuing loyalty" and that he can't tell them more about the ASB discussion until the shareholders are informed.

  9. #279
    An Awesome Cool Cat winner69's Avatar
    Join Date
    Jun 2001
    Location
    , , .
    Posts
    25,885

    Default

    Good ol Smith’s City

    Putting up a good fight for survival and refusing to put up the white flag

    https://quoteapi.com/resources/da986...w_Covid-19.pdf

    PS: NTA is 77 cents I believe so no worries but ... the company recognises the current capital structure is not sustainable given the outlook
    “Just consider that maybe the probability of you being wrong is higher than you think.”

  10. #280
    Legend Balance's Avatar
    Join Date
    Feb 2003
    Posts
    11,360

    Default

    Quote Originally Posted by winner69 View Post
    Good ol Smith’s City

    Putting up a good fight for survival and refusing to put up the white flag

    https://quoteapi.com/resources/da986...w_Covid-19.pdf

    PS: NTA is 77 cents I believe so no worries but ... the company recognises the current capital structure is not sustainable given the outlook
    Strong loyal customer base in the South Island, I believe?

    Expansion in recent years has obviously not worked for them so back to basics. Scale back to their loyal base and they should survive.

    Only time I ever bought something from them was Boxing Day 2019 - and will never again! The customer service and follow up were abysmal.

    They advertised they would beat anyone else for price or match them. Well, so happened I wanted a new wall oven and rangehood which they had in stock, and other outlets had sold out that day. I pointed out that their oven was $150 more expensive than Noel Leeming - which they checked and confirmed as correct.

    But no, they will not match as they had the item in stock and the others do not! WTF! So I told them to forget it. Ordered from Noel Leeming instead.

    Gets worse, believe it or not!

    I ordered the rangehood as their price was same as other outlets and they had stock in another branch. Pick up in 2 days, they said.

    Well, I went to pick up 2 days later and get this, after mucking around trying to locate my order, they found that they had ordered the wrong item from the other SCY store! So it had to be another 2 days.

    Meanwhile, Noel Leeming has delivered the rangehood that very same day.

    If I had SCY shares, I certainly would have sold them after that most unsatisfying shopping experience with them.

  11. #281
    percy
    Join Date
    Oct 2009
    Location
    christchurch
    Posts
    13,966

    Default

    Quote Originally Posted by winner69 View Post
    Good ol Smith’s City

    Putting up a good fight for survival and refusing to put up the white flag

    https://quoteapi.com/resources/da986...w_Covid-19.pdf

    PS: NTA is 77 cents I believe so no worries but ... the company recognises the current capital structure is not sustainable given the outlook
    NTA at 77 cents,????????????????????????????.What tangible assets???????????? Stock at firesale prices.????????????
    The current capital structure is not sustainable given the outlook.Agreed.
    The BUSINESS MODEL is not sustainable either.
    Pigs could fly before Landlords will agree to rent relief.They will only focus their attention when talking to receivers.
    Last edited by percy; 30-03-2020 at 09:31 AM.

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •