HLG - Hallenstein Glasson

[Beagle]

Hope HLG got their guidance wrong and npat way in excess of $20m

A 30% increase over last year (mainly from corporate welfare stuff) palls into insignificance compared to WHS more than doubling profits and Briscoes doing 70% plus (without corporate welfare)

Whatever earnings growth is earnings growth and the world is wonderful.

I suspect that HLG had to spend a fair bit more on airfreight than I was anticipating. A great stock for the long haul, very well managed and with a superb track record of high dividend payments. Comps this half should be fantastic. Happy to let some OCA go and buy WHS but these are such a proven performer they are a wonderfully rewarding hold. Disc: Right on the limit of my self imposed maximum 15% portfolio allocation and feeling really comfortable with that.

[Habits]

Pharmazen Limited on the Unlisted market. https://www.usx.co.nz/symbol/paz

An exciting growth story, some of us firmly believe.

Thank you
Unlisted and foreign is not my cup of bell tea as you can probably tell

[Habits]

Pharmazen Limited on the Unlisted market. https://www.usx.co.nz/symbol/paz

An exciting growth story, some of us firmly believe.

Thank you
Unlisted and foreign is not my cup of bell tea as you can probably tell

[Waltzing]

SP holding up well. cant say the same for this site. Dont have time for slow web apps. The web is a terrible technology im afraid.

[Beagle]

Report day is this Friday. I am looking forward to it.

[winner69]

premier reported yesterday in aus , very strong numbers. Premier mainly in clothes. they had this to say - Premier Investments statutory NPAT $188.2 million, up 88.9% on 1H20

Warehouse adjusted profit up 140%

Both tout margin improvement

HLG tomorrow will report a corporate welfare adjusted profit growth of 30%-40%. Great but pretty disappointing relative to others

[LaserEyeKiwi]

premier reported yesterday in aus , very strong numbers. Premier mainly in clothes. they had this to say - Premier Investments statutory NPAT $188.2 million, up 88.9% on 1H20

Warehouse adjusted profit up 140%

Both tout margin improvement

HLG tomorrow will report a corporate welfare adjusted profit growth of 30%-40%. Great but pretty disappointing relative to others

excellent result for WHS, good for them and there shareholders.

Warehouse of course coming off an abysmal comparable period last year, inflating the year on year growth comparison.

Interesting to look at 5 year net profit tracks (and sales) for both companies 6 monthly reports: One company is earning less profits than it did in 2016, while the other has grown profits 200% (and be sure to look at revenue comparison as well.)

(Also, HLG received no NZ wage subsidies in its latest 6 month period.)

WHS:
2021: $55m ($1.8B sales revenue)
2020: $28.8m
2019: $35.8m
2018: $35.3m
2017: $41.6m
2016: $57.2m ($1.57B sales revenue)

HLG:
2021: ~$20m ($182m sales)
2020: $15.4m
2019: $16m
2018: $15.1m
2017: $9.2m
2016: $6.8m ($112m sales)

[Beagle]

I am very happy to own both HLG and WHS.

[winner69]

excellent result for WHS, good for them and there shareholders.

Warehouse of course coming off an abysmal comparable period last year, inflating the year on year growth comparison.

Interesting to look at 5 year net profit tracks (and sales) for both companies 6 monthly reports: One company is earning less profits than it did in 2016, while the other has grown profits 200% (and be sure to look at revenue comparison as well.)

(Also, HLG received no NZ wage subsidies in its latest 6 month period.)

WHS:
2021: $55m ($1.8B sales revenue)
2020: $28.8m
2019: $35.8m
2018: $35.3m
2017: $41.6m
2016: $57.2m ($1.57B sales revenue)

HLG:
2021: ~$20m ($182m sales)
2020: $15.4m
2019: $16m
2018: $15.1m
2017: $9.2m
2016: $6.8m ($112m sales)

You have to use Adjusted Profit for WHS ....not so bad then.

C’mon you really want to buy some WHS shares eh ....don’t talk yourself out of it ....get in before it’s too late.

[Beagle]

WHS just announced a $111m normalised profit, not the $55m noted above. Perfectly reasonable to normalise profit in the circumstances they noted.