SCY Chart

[percy]

I did see that, but what I meant was that if they can keep making profit from trading (and not taking $ from the finance business) then this will go over $1. The market will have to have a few years of consistency for this to occur though. But a lot better this time than what I was expecting
Cheers for the caveat Percy! (in the meantime I am happy with the last 3 or 4 years 3.5 cents fully imputed annual dividend)

REAL BIG CAVEAT for you.SCY are still using up tax losses,so there is still NO imputation credits.!!

[blackcap]

REAL BIG CAVEAT for you. SCY are still using up tax losses,so there is still NO imputation credits.!!

Haha yes off course, thanks for pointing out. Got confused with another stock. Still not going to sneeze at the 3.5 cent annual, and if when they get consistent sales then all steam ahead. This is a good start, if the retail arm can break even or better the finance arm will pave the way. Cannot complain to now what SCY have done in the last 3 years, considering market conditions as well. Happy to hold for potential turnaround.

[percy]

I seem to remember sales were about $205mil ten to fifteen years ago.
With such fine margins sales growth will add liitle to the bottom line.
As you point out the profits come from SCY finance.So they had better not give away margin trying to maintain sales.
They said Taupo store is going well,but I hear JBHiFi are opening in Riccarton Mall with whitware,so competition will only make an already difficult market even more challenging.

[percy]

Today's announcement that Tony Allison will join the board as representative of UIL Ltd is positive step for the company.

[blackcap]

A little more interest in SCY, I see Ron Brierly et al have increased their stake to 17.7% or thereabouts. So either they go to 19.99 and stop or they do the takeover thing. Wonder what their game is. Nice to see SCY in the 60's again though and cum a good 2.5 cent dividend.

[blackcap]

Some media exposure for SCY...

http://www.stuff.co.nz/business/8294...er-smiths-city

[winner69]

Think Ron will make an offer for SCY

I see GFI are matching Ron share for share

Company performance improving.

Don't shop there any more seeing they closed the local shop that provided fantastic personal service (ex LV Martin store)

[blackcap]

ThinkK Ron will make an offer for SCY

I see GFI are matching Ron share for share

Company performance improving.

Don't shop there any more seeing they closed the local shop that provided fantastic personal service (ex LV Martin store)

well they are now at 19.8 or so % so cannot buy anymore without an offer. You could be right, Sandon Capital really do like the prospects and think a shakeup at board and management level will help SCY, and the fact that SCY trades under NTA. (p.16 of attached PDF)

http://www.asx.com.au/asxpdf/2016111...prhhd5m0c9.pdf

[percy]

Some fun things in the interin report.
Looks as though the usual yearly "one offs" will continue next year,should Roy Campbell get his way for a new information platform.
Roy has certainly upset the staff replacing loyal staff with his people.Now a them and us atmosphere.
Love the cash flow hedges in the accounts,whatever they are.?
Moving away from supplier rebates could be costly.
Still appears to me to be a not for profit retail operation, providing customers for their profitable finance company.
Offcourse the finance business would not survive without the retail customers.
Not owning any real property,I find it hard to see how the NTA could be realised.
Like other retailers SCY have to work extremely hard to make profit.

[blackcap]

Some fun things in the interin report.
Looks as though the usual yearly "one offs" will continue next year,should Roy Campbell get his way for a new information platform.
Roy has certainly upset the staff replacing loyal staff with his people.Now a them and us atmosphere.
Love the cash flow hedges in the accounts,whatever they are.?
Moving away from supplier rebates could be costly.
Still appears to me to be a not for profit retail operation, providing customers for their profitable finance company.
Offcourse the finance business would not survive without the retail customers.
Not owning any real property,I find it hard to see how the NTA could be realised.
Like other retailers SCY have to work extremely hard to make profit.

Thanks Percy,

Must do some more digging into those accounts and see what is up...