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  1. #41
    Share Collector
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    Mar 2005
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    Porirua
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    Quote Originally Posted by Lizard View Post
    Assuming an unexceptional Christmas period, I would think heading for about $23.8 - $24.1m NPAT for FY11 (excluding effect of extra $2.6m tax).
    Result came in at $24.1m NPAT excluding the extra tax. The upside of the result was the extra 1.0cps of imputed dividend and the strong cashflow that has left them with over $82m of cash in the bank - some of it explained by seasonal factors.

    There must be some headwinds for BGR in the coming year, but they are performing solidly and producing good yield (9.2% including imputation at $1.40 s.p.). Plus the extra cash in hand and rollover to another 12-month period pushes my valuation to $1.60/share so I'll probably keep holding for now.

  2. #42
    Share Collector
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    A very strong quarterly showing from BGR with same store sales up 8% on last year. No mention of how much of that was driven by the remaining Christchurch stores!

    Margins under pressure though, so that makes it tough, but expecting HY NPAT of $10.2m (up 10%). Still, second half is the biggie for BGR...

    Hoping yield will support it here at $1.42, as 6.3% plus imputation is not too bad and might even be 7% if they increase the div in line with the 10% NPAT increase.

  3. #43
    Senior Member
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    Mar 2001
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    Auckland, , New Zealand.
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    Briscoes has held up pretty well today and previously just down 1c today, releasded the results on the right day eh!

  4. #44
    percy
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    Oct 2009
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    christchurch
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    Quote Originally Posted by Lizard View Post
    A very strong quarterly showing from BGR with same store sales up 8% on last year. No mention of how much of that was driven by the remaining Christchurch stores!

    Margins under pressure though, so that makes it tough, but expecting HY NPAT of $10.2m (up 10%). Still, second half is the biggie for BGR...

    Hoping yield will support it here at $1.42, as 6.3% plus imputation is not too bad and might even be 7% if they increase the div in line with the 10% NPAT increase.
    Interesting.BRG only lost Salisbury Street store,which I expect was their worst ChCh store,so with retail very poor through-out NZ I guess the remaining BRG CHCh stores are going gangbusters.A very positive announcement.

  5. #45
    Senior Member
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    Jul 2007
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    Quality retailer this one IMHO

  6. #46
    Share Collector
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    Mar 2005
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    Quote Originally Posted by emearg View Post
    Quality retailer this one IMHO
    Alhough still at the same share price I stagged at on listing day, nearly 10 years ago!

  7. #47
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    Porirua
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    Really good sales report out from BGR for 3rd qtr - a 9.15% sales increase over pcp and even better on a same-store basis, since they've closed a few outlets over past twelve months.

    While clearly the RWC-driven traffic through Rebel Sport will have been a factor, with a 24.6% increase in sporting goods, homewares also managed a creditable 8.2% same-store basis, or up 2% overall. Margins flagged as down, so how much is the question... has a big impact, but I'm going to pick $25.5 - $26.7m NPAT for year to Jan 2012.

    Given the high gross dividend yield of 9.4% (at $1.40), this has made a good yield investment. It's not likely to come unstuck in the short-term either, as looks as though it would take a tough Christmas to take the wind out of this years result. Though the challenge might be to find any sellers - they've all scarpered... (unless someone wants to take out the offer at $1.95!).

  8. #48
    Member
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    Dec 2001
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    Church Bay, Banks Peninsula
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    Good to see that Briscoes now have on-line shopping - powered by: www.estaronline.com
    SCOTTY

  9. #49
    percy
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    Oct 2009
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    christchurch
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    Quote Originally Posted by SCOTTY View Post
    Good to see that Briscoes now have on-line shopping - powered by: www.estaronline.com
    Now that is interesting.Well spotted SCOTTY.

  10. #50
    Share Collector
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    Mar 2005
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    I've sold out of this one in the clean up. Been good to me and sad to see it go - but best sell while things are going well for them. I have too much in retail stocks, between this one, HLG and PHB, so one had to go. HLG has a better div, PHB has better growth...not too much in it really, but liquidity is slowly getting worse on BGR and would be nothing to sell into on a bad news day.

    I'd expect first half to be good for them though, so figure I'm leaving something in it for the next guy .

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