Given the first half result the second half is a bit average....npat margin in H2 is 6.1% the same as for FY16....its only the great first half that makes FY17 a better year.
Still a decent effort and a likely 16.5cps final dividend coming in December. Don't think the share price will do much on the news overall.
Solid but not spectacular forecast but underscores this companies resilience in the face of increased competition and deserves to have a place in every true dividend hounds portfolio based on its long proven ability to pay a very high fully imputed dividend yield. Expecting 16.5 cps again in December. Second half turnover of $117m up just on $6m compared to PCP, (5.3%) and net profit based on mid point of forecast will be $8.07m this half compared to $6.88m in PCP up (17.3%). EPS forecast 29 cps.
Based on yesterday's closing price of $3.19 and assuming a final dividend of 16.5 cps fully imputed in addition to the interim dividend of 14.5 cps also fully imputed I calculate the gross dividend yield as (31 / 319) / 0.72 = 13.5%. Disc: Holding for dividend yield.
Last edited by Beagle; 11-08-2017 at 09:45 AM.
Ecclesiastes 11:2: Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
Given the first half result the second half is a bit average....npat margin in H2 is 6.1% the same as for FY16....its only the great first half that makes FY17 a better year.
Still a decent effort and a likely 16.5cps final dividend coming in December. Don't think the share price will do much on the news overall.
Yes H2 not as good as H1
I would hazard a guess things have slowed down quite a lot over the last few months (remember they said they were still on fire in March).
I see from Stats NZ Electronic Card spend data for July apparel was down again on last year
HLG guidance for F18 will be interesting but we will have to wait until the AGM before we get anything.
At the top of every bubble, everyone is convinced it's not yet a bubble.
I think given recent stat's for apparel and new competition HLG's profit announcement is solid and very credible and augers well for the ongoing veracity and durability of their long established business model.
Ecclesiastes 11:2: Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
I think given recent stat's for apparel and new competition HLG's profit announcement is solid and very credible and augers well for the ongoing veracity and durability of their long established business model.
Perhaps that is another question. Overall score for Glassons was a 'B-' with the following specifics noted:
1/ Company policies do not apply to their supply chain ( a biggie I think ).
2/ There is no public list of suppliers.
3/ Glassons has not even bothered to trace their suppliers of either raw materials or inputs and there are no plans to do so.
4/ Glassons does not share ethical audit reports or plans to correct any follies publicly.
5/ Glassons have a patchy record of industry collaboration.
6/ Glassons mostly use non-union workers and there is little collective bargaining. (another biggie ).
7/ Glassons has no functioning grievance mechanisms.
8/ Less than 25% of final manufacturing workers are on a living wage.
9/ None of the input producers get paid a living wage.
Not much to be proud about going around in a Hallensteins/Glasson top I reckon.
But I guess exploitation on the way to higher dividends is OK?
SNOOPY
discl: do not hold for ethical reasons
Last edited by Snoopy; 11-08-2017 at 10:55 AM.
Watch out for the most persistent and dangerous version of Covid-19: B.S.24/7
I think given recent stat's for apparel and new competition HLG's profit announcement is solid and very credible and augers well for the ongoing veracity and durability of their long established business model.
Yes, a very durable business, bit confused where veracity comes into it.
Generally generate solid cash flows - pays good divies and that's what the majority shareholders want
Might take my 'divie' early if it gets over 330 - that be a 30 cent divie for me and won't have to wait until November.
At the top of every bubble, everyone is convinced it's not yet a bubble.
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Originally Posted by Joshuatree
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