Just a bit of anecdotal evidence. I just bought a campervan, and there were hundreds to choose from. I ended up buying a (non-ex-rental) with 40,000km on the dial for $76,000. The new equivalent is $155,000. I went to one rental company, who were trying to sell off very similar, but much lower spec'd vans, with 200,000km on the dial for $90,000. And they had 60 to choose from. That was one rental co. And down the road were several more. My impression after doing about a year of research was that the market was flooded, and prices would need to come down simply because of supply and demand.
"As sales volumes in May 2019 trended below our earlier expectations, the Group decided to accelerate ex-rental sales at a higher discount in the USA, which will have the benefit of reducing funds employed and holding costs." (bold, italics are mine).
Price dropped from 65c to 39c. 3 Directors buy 1 million + shares around 40c.
It will be a good fit consolidated the nz au market plus Apollo got position in euro markets
Can't see it happening though.. Would they get past the regulators on both sides of the Tasman?
Apollo carrying a lot of debt and have expanded probably too quickly..
What is the cash for? I had a quick look through the 2019 interim results, they didnt mention cash position ($90M sitting in CA) - didnt have time to ferrit through all the pages. They should include this as a minimum.
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