I've recently gone over their figures for the last few years... I think on a macro basis they should be well placed with rebuilds and greater economic activity next year, yes they have small margins but their ROE has returned to acceptable levels and they're competitive in the P/EPS. chart activity would be a problem wit few trades...
Another reasonably respectable result from Smiths considering all the issues over the last few years
EPS of 7.7 cents so currently on PE of about 8
Finance book of $70m odd
Percy - you were a bit down on them .....things improving?
Me just a satisfied customer at nearby Martins ......match cheapest price in town, great service and install things for free (even TVs have too many wires these days)
Another reasonably respectable result from Smiths considering all the issues over the last few years
EPS of 7.7 cents so currently on PE of about 8
Finance book of $70m odd
Percy - you were a bit down on them .....things improving?
Me just a satisfied customer at nearby Martins ......match cheapest price in town, great service and install things for free (even TVs have too many wires these days)
Definitely an improvement on last year and if you dig into the cash flow statement provided you can see that the majority of the profit is attributable to the finance division. Rick Hellings confirmed that when I spoke with him yesterday but did say the retail operations were profitable but "bloody hard work". He also said the homeware division was doing better than the appliance division.
7.7 cents (after tax correct me if I am wrong) on a shareprice of 54 cents if very acceptable to me. A lot better than last year but you would hope that things are going on the up.
Definitely an improvement on last year and if you dig into the cash flow statement provided you can see that the majority of the profit is attributable to the finance division. Rick Hellings confirmed that when I spoke with him yesterday but did say the retail operations were profitable but "bloody hard work". He also said the homeware division was doing better than the appliance division.
7.7 cents (after tax correct me if I am wrong) on a shareprice of 54 cents if very acceptable to me. A lot better than last year but you would hope that things are going on the up.
Thanks for those insights blackcap
Finance has been the main driver of profits for a while.
Must be hard selling product in this market. Plenty of choices where to buy and ultra competive.
As I said location and service makes me one of the loyal customers. They just look in the computer and say yep Mr Winner what can we do for you this time....and make friendly comments like did your son appreciate the new fridge Mrs Winner bought him the other day.
Definitely an improvement on last year and if you dig into the cash flow statement provided you can see that the majority of the profit is attributable to the finance division. Rick Hellings confirmed that when I spoke with him yesterday but did say the retail operations were profitable but "bloody hard work". He also said the homeware division was doing better than the appliance division.
7.7 cents (after tax correct me if I am wrong) on a shareprice of 54 cents if very acceptable to me. A lot better than last year but you would hope that things are going on the up.
Rick Hellings is "a breath of fresh air." Good directors, top CEO in Hellings but "bloody hard work" sums it up.I note they have closed Riccaron and Invercargill Power Stores.Slim margins. I no longer hold.The reasons I sold out remain.And yes our family are loyal customers too.Good products,fair prices and you know they service what they sell through Alectra.
Definitely an improvement on last year and if you dig into the cash flow statement provided you can see that the majority of the profit is attributable to the finance division. Rick Hellings confirmed that when I spoke with him yesterday but did say the retail operations were profitable but "bloody hard work". He also said the homeware division was doing better than the appliance division.
7.7 cents (after tax correct me if I am wrong) on a shareprice of 54 cents if very acceptable to me. A lot better than last year but you would hope that things are going on the up.
They did not pay the full tax rate. Only paid 600K tax on NPBT of $4.7Mill.
Still a credible result. Even if it is all through the finance division.
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Originally Posted by winner69
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