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  1. #2641
    Senior Member
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    Great result. Would have bought some a few days were I not already facing liquidity issues from too many deals I couldn't refuse!

  2. #2642
    Speedy Az winner69's Avatar
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    HLG activity generated $35.3m in cash

    Spent (invested) a net $8.3m on store fitouts etc (capex)

    That left $27.0m free cash

    Giving $26.2m back to shareholders

    That’s the way it should work

    No debt, cash in the bank means a lot. Some say that’s lazy capital management but I reckon it’s a good situation. And some would say that the $88m of lease obligations is a form of capital anyway.
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  3. #2643
    percy
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    I am not sure what I call lease obligations?
    They are a liability that is ongoing and must be met.
    All well and good,or acceptable, while the retailer is trading well, and is profitable.
    But as an investors we must be well aware of the liability, should the retailer lose favour with its customers.
    Seeing the growing online success HLG are achieving, does add to the strength of the business,making them less dependant on expensive store rents.
    I do note HLG have great retail sites,although they pay through the nose for mall sites.
    Always good seeing HLG closing stores, and recycling the capital into new better located stores.

  4. #2644
    Dilettante
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    Quote Originally Posted by winner69 View Post
    HLG activity generated $35.3m in cash

    Spent (invested) a net $8.3m on store fitouts etc (capex)

    That left $27.0m free cash

    Giving $26.2m back to shareholders

    That’s the way it should work

    No debt, cash in the bank means a lot. Some say that’s lazy capital management but I reckon it’s a good situation. And some would say that the $88m of lease obligations is a form of capital anyway.
    Can't disagree with that winner. Great result and looking forward to the fat divie. Beyond even myself how I ended up with a retail stock as 25% of my portfolio but pleased about it right now :-)

  5. #2645
    Senior Member
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    Jan 2016
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    LA/ChCh/AKL
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    Quote Originally Posted by winner69 View Post
    HLG activity generated $35.3m in cash

    Spent (invested) a net $8.3m on store fitouts etc (capex)

    That left $27.0m free cash

    Giving $26.2m back to shareholders

    That’s the way it should work

    No debt, cash in the bank means a lot. Some say that’s lazy capital management but I reckon it’s a good situation. And some would say that the $88m of lease obligations is a form of capital anyway.
    Cashflow is what it is all about and that is robust. Makes one wonder how so few in retail can actually pull it off.

  6. #2646
    …just try’n to manage expectations… Maverick's Avatar
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    Dec 2017
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    Quote Originally Posted by Raz View Post
    Cashflow is what it is all about and that is robust. Makes one wonder how so few in retail can actually pull it off.
    i agree with you Raz that HLG make this seem too easy , why aren't the other guys keeping up? Just reading the "signs" I'll take a wager that Easybuy bites the dust within the next 12 months. They are acting like a company in serious distress.

  7. #2647
    …just try’n to manage expectations… Maverick's Avatar
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    Quote Originally Posted by winner69 View Post
    HLG activity generated $35.3m in cash

    Spent (invested) a net $8.3m on store fitouts etc (capex)

    That left $27.0m free cash

    Giving $26.2m back to shareholders

    That’s the way it should work

    No debt, cash in the bank means a lot. Some say that’s lazy capital management but I reckon it’s a good situation. And some would say that the $88m of lease obligations is a form of capital anyway.


    Here's a few more numbers to add your lot Winner. @$5.85 the divi is 7.5% after tax.(that's 10.4%gross) . A PE of 12.6 which is historically about right for HLG.

    i reckon the Pe should actually rise to about 13.5 -14.5 now given the evidential growth with Aussy and online. That makes the share price about $6.20-$6.65 . But to temper that, the huge lift in profit last year included a bumper summer season so I won't be rushing out Monday add some more. Besides I'd have to sell some OCA first, sacre-Bleu.
    Last edited by Maverick; 29-09-2018 at 11:59 AM.

  8. #2648
    Banned
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    Nov 2013
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    Quote Originally Posted by iceman View Post
    Can't disagree with that winner. Great result and looking forward to the fat divie. Beyond even myself how I ended up with a retail stock as 25% of my portfolio but pleased about it right now :-)
    Doesn't matter how you ended up with that percentage, the main thing is that you are Extremely well positioned.

  9. #2649
    ShareTrader Legend Beagle's Avatar
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    Jul 2010
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    Very impressive growth in online sales. Excellent result, superb stock turn, solid sales growth since balance date, great dividend. My sense is all the preceding is already substantively built into the current price.....whereas it was great buying 2 years ago at $2.70
    Last edited by Beagle; 29-09-2018 at 06:47 PM.
    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

  10. #2650
    Member
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    Jan 2018
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    190

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    Hmmmm.... Will SP drop further?

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