HLG - Hallenstein Glasson

[Jantar]

I was very happy with Silver Fern Farms (one of my largest holdings) taking the subsidy but when things turned out better than expected, they paid it back in full before announcing dividends.

Silver Fern Farms did not have to close their doors during the lockdown. As a food processor and supplier they were able to continue almost as usual. Hence they did not meet the criterium of a 30% loss in revenue for that month and would have had to pay it back in due course anyway.

[ba9]

Absolutely agree that it was morally wrong for any company to take the wage subsidy when it wasn't required. I think everyone just applied for it because they fit into the criteria. This was nothing more than a handout in need.

[Balance]

I was very happy with Silver Fern Farms (one of my largest holdings) taking the subsidy but when things turned out better than expected, they paid it back in full before announcing dividends.

Silver Fern Farms did not have to close their doors during the lockdown. As a food processor and supplier they were able to continue almost as usual. Hence they did not meet the criterium of a 30% loss in revenue for that month and would have had to pay it back in due course anyway.

Exactly right, Jantar.

Silver Fern Farms - an essential industry which operated right through the lockdowns & enjoyed record revenues via export sales.

They repaid because their revenues were intact and did not drop 30%.

Alliance Meats only repaid half their wage subsidy because they did suffer revenue drop.

[Beagle]

When the lockdown first occurred no-one knew how long it would go on for. The purpose of the subsidy was to keep staff employed.

Would you have been happier in HLG did not take the subsidy and instead chose to lay off most retail staff, hoping to re-employ them after the lockdown ended?

Exactly. The moral outrage is misplaced. Nobody knew how long the crisis would go on for. Hindsight is 20/20 and its very easy to look back now and make moral judgement calls expecting the directors to have had perfect foresight in the midst of the Covid lockdown.

The fact is the Directors postponed the interim dividend due in April 2020, (a first for them as they paid dividends throughout the GFC) so they obviously viewed the lockdown at that time as extremely serious. HLG appears to have often had to pay rent for shuttered stores and pay employees their full wages. I reiterate that the wage subsidy only covered some of their employees costs, (exactly the ones the Govt mandated that should be covered).

[Balance]

I'm going to take the bait..come on, spill the beans.

Read your PM - decipher and decide!

Disclosure of interest - bought more today.

[winner69]

Anyway, I am picking HLG's sp to be $6.50 to at least on 16 October 2020.

You guys will have to figure out for yourself what is likely to happen next week to drive the sp to that level!

It's actually quite obvious!

Huge result from WHS on Thursday ...WHS shareprice zooms up .....and HLG follow suit

[Beagle]

Read your PM - decipher and decide!

Disclosure of interest - bought more today.

Hmmm...disclosure...I bought some more today too. Some information is too good to share, just buy before others do

[850man]

Hmmm...disclosure...I bought some more today too. Some information is too good to share, just buy before others do

Ramping gentlemen?

[sb9]

Ramping gentlemen?

That should help it through $6 mark for the day

[Waltzing]

Well sales might be up but did sales increase because people were sitting at home with nothing to do with Sub in the bank and thought great ill buy some more clothes on special discount prices? Next trading update will be the one to whatch.