Burgerfuel

[LaserEyeKiwi]

there are far cheaper (under-valued) shares out there with less chance of going belly up I reckon

you won’t find much “cheaper” from a market capitalization perspective that is actually a going concern still generating cash. It has a market cap of only $19 million, and a cash position of $7 million dollars, meaning an ex-cash enterprise value of only $12 million.

So being able to generate a $0.74 million net profit in a year where restaurants were closed by lockdowns for between 1.5-2 months, it seems on the face of it that the company is being valued extremely cheap.

I think it’s far more likely to be delisted by way of a management buyout.

[LaserEyeKiwi]

Restaurant Brands just reported a sales increase of 14% in same store sales for the 2nd quarter in NZ on a year over year basis.

hopefully BFG sees the same sort of result.

[LaserEyeKiwi]

AGM was fairly uneventful (although I missed some of the opening remarks due to zoom audio fail on my end).

expecting tepid/no growth over next few years.

[FTG]

AGM was fairly uneventful (although I missed some of the opening remarks due to zoom audio fail on my end).

expecting tepid/no growth over next few years.

So do you think it's still a hold, until a MBO or similar?

[LaserEyeKiwi]

So do you think it's still a hold, until a MBO or similar?

they did flag acquisitions, buybacks as possibilities (but ruled out dividends). Someone asked them if they considered buying Hells pizza, and they said it comes up from time to time as a possibility along with many other options.

[Balance]

they did flag acquisitions, buybacks as possibilities (but ruled out dividends). Someone asked them if they considered buying Hells pizza, and they said it comes up from time to time as a possibility along with many other options.

They have been trying to find a buyer and now they are going to turn buyer?

Pull the other leg!

[LaserEyeKiwi]

They have been trying to find a buyer and now they are going to turn buyer?

Pull the other leg!

they do have plenty of cash, so plenty of optionality there. They have launched two new brands recently: Winner, Winner (Chicken) and Shake Out (fast service)

they actually mentioned they wanted to delist from NZX, but got feedback from NZX saying that would not really be possible without a takeover or significant transaction, so that plan is off.

[Balance]

they do have plenty of cash, so plenty of optionality there.

they actually mentioned they wanted to delist from NZX, but got feedback from NZX saying that would not really be possible without a takeover or significant transaction, so that plan is off.

SeaDragon successfully decamped to Unlisted.

[LaserEyeKiwi]

I actually quite liked the zoom AGM format, got to ask a question.

[FTG]

they did flag acquisitions, buybacks as possibilities (but ruled out dividends). Someone asked them if they considered buying Hells pizza, and they said it comes up from time to time as a possibility along with many other options.

Thanks LEK.
It seems they haven't been truly super motivated to "restructure". Especially whilst the main S/Holder has access to the cashflow through very generous remuneration etc.

Quite possibly another example of a minnow that shouldn't have listed on the NZX in the first place. Admin costs & compliance have continued to be restrictive & prohibitive for such a small Co.

BOD & main S/H's ego's would have got a good boost at the time of listing though