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Its a 50/50 kind of investment in my opinion because you have some parts which look great like the up trend increases in profits, but its countered by the down trend of revenue for the last four years, which you might want to wait and see what the next report reveals too see what direction this business is going into as with no growth its worrying. Liabilities have been slowly decreasing over the last four years so thats a positive sign with assets staying more or less a similar state.
It looks like it could be a decent business that has been wronged in the past and over ridden with debt, so give it some more time and it will fix itself and become a great company. This company looks exactly like Allied Farmers (ALF) and I don't need to tell you how thats going for the early birds who got in cheap. With debt generally being decreased and a possible turn around, there is more risk by investing in this sort of company than most, but if they turn it around and it starts showing growth in revenues and profits it will reward investors nicely, but beware when things don't go well. If anything affects their profit, down the drain they will go (no pun intended), overall a negative grey cloud with a glimpse of sunshine.
Last edited by silverblizzard888; 08-09-2014 at 02:35 AM.
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^^ Sums it up pretty well. I would only add this is a classic example of why the simple selection of stocks based solely on their PE isn't a good strategy on its own.
Micro cap that's illiquid, infrequently traded on the alternative exchange and sales have been in decline for many years.
Obviously they have had too much debt for many years and until they can start rewarding shareholders with a decent proportion of the free cash flow it'll stay in the doldrums, possibly for years.
Talk of growth means it could be many years before the company starts to think about paying decent dividends, assuming they continue to make profits. Commentary in the annual report of severe price pressure in N.Z. doesn't bode well for the future. Really I'd suggest their track record is chequered at best and all things considered they deserve a very, very low PE. That's my 2 cents.
Perhaps I should add that I've met Tony Falkeistein a couple of times and he's a genuine nice guy and a gentleman...its a real shame his company hasn't flourished.
Last edited by Beagle; 08-09-2014 at 04:18 PM.
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Something smells with this stock - notice how the size bids move lower as the offers come down?
Not touching it given the track record of Tony Falkenstein in wealth destruction. His last bravado act was to announce that he intended to buy 1m shares at 15c in 2012 - record shows he bought none!
Last edited by Balance; 09-09-2014 at 12:32 PM.
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Member
 Originally Posted by Balance
Something smells with this stock - notice how the size bids move lower as the offers come down?
Not touching it given the track record of Tony Falkenstein in wealth destruction. His last bravado act was to announce that he intended to buy 1m shares at 15c in 2012 - record shows he bought none!
There was 2 on market purchases made, September 2011 and October 2011. 348423 and 46190. Purchased on market at 10 cents a piece it in the 2012 annual report. For on behalf of Harvard Group. Check page 11 2012 annual report. Although not his stated investment amount however he did buy.
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Originally Posted by Chaowee88
Hello, everyone my first post. This company lacks coverage but has cut costs, improved profitability, surprised to see the share price still languishing. P/E of 4.1 currently with the share price at 10C. New CEO now with Tony now director, Ian at the helm and fair bit of restructuring, sounds like a fresh new start with a fairly new balance sheet, debt down to 12.9 million. Next year could be defining with potentially a dividend comin for the first time in 5 years (Management stated equity ratio of 40 - 60 before restarting dividenda and they a close to that).
Welcome to the Sharetrader forum 
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Member
Making a bit of a move is JWI, about time...
12C now
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Originally Posted by Chaowee88
Making a bit of a move is JWI, about time...
12C now
Nice. Whenever I see a Just Water cooler at a Restaurant café or bar I am very pleased as I'm a huge believer in the benefits of drinking high quality water.
Tony deserves to do better than he has out of this company. I might get a few as I believe in what they're doing and the rapidly aging population needs the product they're supplying and the PE is cheap.
Last edited by Beagle; 07-10-2014 at 11:07 AM.
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Originally Posted by Roger
Nice. Whenever I see a Just Water cooler at a Restaurant café or bar I am very pleased as I'm a huge believer in the benefits of drinking high quality water.
Tony deserves to do better than he has out of this company. I might get a few as I believe in what they're doing and the rapidly aging population needs the product they're supplying and the PE is cheap.
Ha Ha Ha,
You forget some of us know you Roger.
Since when have you let water mix with your alcohol system ?
Thought you were 100%. lol.
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Originally Posted by percy
Ha Ha Ha,
You forget some of us know you Roger.
Since when have you let water mix with your alcohol system ?
Thought you were 100%. lol.
LOL mate. You've gotta drink something good when you haven't got the pleasure of having your friends drive
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Originally Posted by Roger
Nice. Whenever I see a Just Water cooler at a Restaurant café or bar I am very pleased as I'm a huge believer in the benefits of drinking high quality water.
Tony deserves to do better than he has out of this company. I might get a few as I believe in what they're doing and the rapidly aging population needs the product they're supplying and the PE is cheap.
Bugger, too slow. Tony moves to take over the company at 15 cents, good on him and fair enough. I wish him well, he's a nice guy.
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