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  1. #421
    Speedy Az winner69's Avatar
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    Board quite diverse eh Percy

    Really pleased to see they have taken on somebody from the Future Director program. Good stuff

    (She only gets 50% of fees, but plenty of experience)
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  2. #422
    percy
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    Quote Originally Posted by winner69 View Post
    Board quite diverse eh Percy

    Really pleased to see they have taken on somebody from the Future Director program. Good stuff

    (She only gets 50% of fees, but plenty of experience)
    Agreed,it was the other two new board appointments I was meaning.
    Wish we had comments from some one who attended the meeting.

  3. #423
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    Quote Originally Posted by noodles View Post
    They came out with a strong first quarter. EBITDA up 250%. If they continue at this rate, we could see eps=30c.
    I have taken the last year EBITDA, multiplied by 1.20. Reduced interest cost (because they have paid down debt), and removed amortization of the Maddison acquisition
    .
    Ebitda 15120
    Depn 1000
    ebit 14120
    Interest 1110
    NPBTA 13010
    tax 3642.8
    NPATA (underlying) 9367.2
    underlying earnings 0.289
    pe 8.0

    EDIT: Changed profit uplift from 25 to 20%
    The share price was $2.30 when Noodles wrote the above. It is now down to $2.10. An excellent opportunity for the small investor to top up at $2.10. I just did!

    SNOOPY
    Watch out for the most persistent and dangerous version of Covid-19: B.S.24/7

  4. #424
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    Quote Originally Posted by Snoopy View Post
    The share price was $2.30 when Noodles wrote the above. It is now down to $2.10. An excellent opportunity for the small investor to top up at $2.10. I just did!

    SNOOPY
    Snoopy , I have no trades showing in AWF today , is my machine wrong or how did you top up ?

  5. #425
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    Quote Originally Posted by stoploss View Post
    Snoopy , I have no trades showing in AWF today , is my machine wrong or how did you top up ?
    I put my buy order in more than a week ago. I got the purchase note in the mail today. But you are right, there were no trades today. With a thinly traded share such as this you have to take your opportunities.

    SNOOPY
    Watch out for the most persistent and dangerous version of Covid-19: B.S.24/7

  6. #426
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  7. #427
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  8. #428
    percy
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    Maybe I am a little negative as I sold my AWF shares,but I do note the extra shares issued in the capital raise,means the eps are lower than previously,although the business is in better shape with the lower debt.However there was nothing in the presentation to cause me regret for selling my shares. I will keep any eye on AWF as I did do very well with them.

  9. #429
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    Quote Originally Posted by percy View Post
    Maybe I am a little negative as I sold my AWF shares,but I do note the extra shares issued in the capital raise,means the eps are lower than previously,although the business is in better shape with the lower debt.However there was nothing in the presentation to cause me regret for selling my shares. I will keep any eye on AWF as I did do very well with them.
    Quite right percy. If the net profit lifts 20% but the numbere of shares has gone up by 20% that means shareholders are going nowhere. It is the gain in earnings per share, not the gain in earnings, that is the statistic to look for (half year eps were 10.5cps, down from 11.1cps). This is why the dividend per share has only held steady, despite the increase in profit

    Unlike you, I am a recent addition to the share register. I may have even bought your shares when you sold out! Acqusitions , like Madison, always take some time to bed down and integrate before all those synergy benefits start coming through. So while I am always disappointed to see 'eps' dip, I am not entirely surprised. All the signs ('Decline in Margin halted') are that the Madison acquisition is bedding in well. But time as always will be the ultimate judge.

    SNOOPY
    Watch out for the most persistent and dangerous version of Covid-19: B.S.24/7

  10. #430
    percy
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    Snoopy I do wish you every success with AWF.
    I was just thinking that you are following in the footsteps of a great investor, Ian Urquhart,whose two largest investments were AWF and SCT.
    He would be proud of you.!
    Most probably would have enjoyed the tucka at RBD's agm too.!!

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