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  1. #821
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    BlueScope Steel are reviewing their New Zealand operations, sounds like they may be closing the Glenbrook mill at some point. They also hold a blocking stake in Steel and Tube which they bought to stick a spanner in the Fletcher's takeover offer. I wonder if they'll be looking to sell their stake sometime soon...

    https://www.nzherald.co.nz/business/...ectid=12348851

  2. #822
    Speedy Az winner69's Avatar
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    Pretty positive announcement that should make shareholders feel happy

    http://nzx-prod-s7fsd7f98s.s3-websit...660/328005.pdf

    On a pre-NZ IFRS 162 basis, FY20 normalised EBIT is expected to be a loss of approximately $5m to $7m.....but will still report a significant loss.

    One day they won’t need to ‘normalise’ things and there will be steady profits ...yes?
    Last edited by winner69; 10-08-2020 at 07:57 AM.
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  3. #823
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    Quote Originally Posted by winner69 View Post
    Pretty positive announcement that should make shareholders feel happy

    http://nzx-prod-s7fsd7f98s.s3-websit...660/328005.pdf

    On a pre-NZ IFRS 162 basis, FY20 normalised EBIT is expected to be a loss of approximately $5m to $7m.....but will still report a significant loss.

    One day they won’t need to ‘normalise’ things and there will be steady profits ...yes?
    Okay news is great news for STU really... especially in this climate, maybe the turnaround really is underway?

  4. #824
    Speedy Az winner69's Avatar
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    Quote Originally Posted by trader_jackson View Post
    Okay news is great news for STU really... especially in this climate, maybe the turnaround really is underway?
    I would say STU will never ‘turn around’ to any great degree

    If they ever achieve a modest profit that’ll be a good year for them
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  5. #825
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    Couldnt work out if it is a good result or not, I would say neutral. Dont hold too many. But looking forward to a steady future.

  6. #826
    percy
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    Plan for the worst,hope for the best.
    Still a long way to go,before we can judge whether they had achieved their turn around goals.!
    I still distrust the sector.
    Last edited by percy; 10-08-2020 at 09:43 AM.

  7. #827
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    For unknown reasons I still own some of these things and must be down over 50% and they are the holders of the wooden spoon in my NZX investment portfolio.

    Ignoring the writing off of goodwill is not real money bit it is a less disappointing outcome than expected.
    I am assuming there will no dividend.
    om mani peme hum

  8. #828
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    Quote Originally Posted by Snow Leopard View Post
    For unknown reasons I still own some of these things and must be down over 50% and they are the holders of the wooden spoon in my NZX investment portfolio.

    Ignoring the writing off of goodwill is not real money bit it is a less disappointing outcome than expected.
    I am assuming there will no dividend.

    It's not 'real money' in this accounting period.

    It was very real money. Just ask anyone who's been a shareholder over the last couple of years.

  9. #829
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    Quote Originally Posted by SailorRob View Post
    It's not 'real money' in this accounting period.

    It was very real money. Just ask anyone who's been a shareholder over the last couple of years.
    Snow Leopards are renowned for their dry humour & sarcasm.
    om mani peme hum

  10. #830
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    How much more 'Intangibles' do they have for writing off ?

    Or do these get written back up in a rare good year, to be written down again in the next two not so good ?

    For some strange reason the small holding here got shot out the door fast as the SP descended below the buck
    and dividend tap started drying up ..

    Hopefully a rescuer such as FBU will take a renewed interest (or some other unfortunate potential buyer who has the foresight to have seen some well hidden benefit lurking in the stew) and relieve the long suffering from further rounds of nothing much, mysterious stock & other writedowns popping out of the stew, disappearing dividends etc.. but obviously at a fairly good price to compensate for all the suffering..

    Hopefully the ticket for parting with patient holder's pieces of Stew will also include reimbursing them for the last Cap Raise required to hoist STU out of the large hole in the STEW they dug themselves into 2-3 years ago as well..

    I'm a little perplexed as why the current Board still havent been able to add a little excitement factor in 2-3 years .. How difficult is it to stir the Stew a little faster ? - Even JLG (The Water, Alarms & other add-ons Outfit) manages to capture some heightened interest which barring FBU looking in at STU's version of stew, always seems to miss the hapless dull & boring stew @ STU ..
    Last edited by nztx; 10-08-2020 at 06:46 PM.

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