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  1. #41
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    Last day for rights trading today. Applications for rights close Thursday.

    Personally have taken up rights and applied for top-up shares, as I think this raising finally provides a firm base for SKL going forward. I also tend to think profit upgrades are more likely than downgrades this year.

    The September company newsletter sounds a little brighter than the June one - although still cautious.

    Currency fluctuations should be less of an issue for SKL than for most NZ-listed manufacturers, as they have attempted to diversify their geographic base to be overall currency neutral.

    I currently have a 12 month price target of 70cps.

  2. #42
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    Aug 2000
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    Lower Hutt,NZ
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    226

    Thumbs down

    Surprise, surprise........ the take up of the rights issue has been over subscribed. I was wondering why so many suckers got sucked in by this dog

  3. #43
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    Sep 2004
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    Auckland, , New Zealand.
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    Default

    I also took up my rights, and also applied for additional top up shares, to my surprise I was allocated all the top up shares I applied for, there can't have been any scaling ? Just wondering how others got on here ? No announcement from company on how they dealt with top up applications ?

  4. #44
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    Sep 2006
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    auckland, , New Zealand.
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    Quote Originally Posted by kura View Post
    I also took up my rights, and also applied for additional top up shares, to my surprise I was allocated all the top up shares I applied for, there can't have been any scaling ? Just wondering how others got on here ? No announcement from company on how they dealt with top up applications ?
    I only have a small holding in SKL, applied for extra shares and got scaled back by about 10%. Quite happy with the outcome though.

  5. #45
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    Quote Originally Posted by kura View Post
    I also took up my rights, and also applied for additional top up shares, to my surprise I was allocated all the top up shares I applied for, there can't have been any scaling ?
    I think I got scaled back quite a bit, maybe only got 65% - perhaps because the portfolio I applied for extra through is the one which holds the least shares.

  6. #46
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    Oct 2009
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    Default Has SKL turned the corner?

    1H10 looks a bit more upbeat then previous announcements.
    - Net debt reduced to $34m from over $100m a year ago.
    - Resumption of dividends.
    - Profit upgrade from $7.1m to $8.5m.
    - Operating cashflow up.

    The company forecasts FY net profit to 30 June 2010 of $8.5m ($9.5 if you exclude the one-off currency expense/loss).

    EPS = $8.5/188.4m shares = 4.5c
    PE = 52c/4.5c = 11.5x

    I notice in the presentation that the company is forecasting net profit for the y/e 30 June 2011 of approx $14m.

    EPS = $14m/188.4m shares = 7.4c
    PE = 52c/7.4c = 7.0x

  7. #47
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    Yes, I agree that this result is likely to mark the turning point for SKL. I would say it is likely there will be another profit upgrade prior to FY results - perhaps to above last year. Dividend is probably weighted to this half though to use imputation.

  8. #48
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    Oct 2009
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    Yes I agree the half year result was very positive. I think this company is on the up. It has markets all over the world and as these pick up so will their profits.
    At the annual meeting last year they spent a good part of the meeting outlining some of the produces they have developed and the projected growth from these produces over the next few years as they win market share.

    Looks like they may have there act together. Well i hope so!

  9. #49
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    Default Expecting to see a marked improvement in profitability...

    Always good to keep an eye out for the quarterly newsletter.
    Don Stewart is always the key read - sounding positive that trading has been above expectation, January sales kicked off well and reiterating the forecast of a return to "normal profit levels" for 2011.

    The profile on Tumedei also forecasts a 30% increase in sales budget for next year.

    Though a vote of appreciation from the owner of a pair of gumboots that were purchased in 1968 (and only just began leaking) may suggest that repeat purchases are less common than investors might like

  10. #50
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    Trading halt pending material announcement... based on the last few days trading, I'd say a "positive" ann, perhaps a takeover offer? (Personally, I think a takeover offer for SKL at this point would be a short term positive, but long term, a sad negative.)

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