sharetrader
Page 6 of 51 FirstFirst ... 234567891016 ... LastLast
Results 51 to 60 of 502

Thread: SANford Chart

  1. #51
    Member
    Join Date
    Sep 2009
    Posts
    72

    Default

    Good stuff Phaedrus, I was looking at SAN yesturday and was going to ask you to post a chart on them. Being a kindergarten level TA this has definatley helped. Cheers

  2. #52
    Member tobo's Avatar
    Join Date
    Apr 2007
    Location
    Auckland, NZ
    Posts
    451

    Default

    A thing of beauty!
    (Not the price if you are a holder, but the clear and present story told by this chart.)
    Thanks, Ph.

    I guess it wasn't TOO much of a surprise, as it had already dropped near $2.
    But you've got to think that if an established business is valued purely on it's earnings, 80% drop on earnings could theoretically be reflected by an 80% drop in sp.

  3. #53
    Dilettante
    Join Date
    Mar 2010
    Location
    Down & out
    Posts
    5,407

    Default

    Based on the advise below, I believe Sanford is about to embark on a serious program to combine all their various recent aquisitions and exisiting operations into a streamlined and well managed operation. I believe this will include younger and fresher management taking on bigger and more important roles in the near future, which is a positive. With Hoki quotas expected to increase significantly over the next 3-5 years combined with significantly increased quota holdings through aquisitions, Sanford will need to invest in upgrading its catching and processing resources and they have a history at doing so at very good prices. Hopefully they will repeat this again BUT they need to make sure they invest in world class equipment. If they do, I would hope this company will go from strengt to strength in the next few years.
    Discl: Hold SAN

    Sanford Moving Forward

    For some time the Board of Directors have been reviewing the development options for the future growth of Sanford Limited. While having been generally satisfied with the results over the last few years and have continued to support growth both by acquisition and direct investment they believe it is now time to start looking at new ways of going forward. Examples of acquisitions and investment include the Jones Group assets, the NIMPL expansion, the Bluff Salmon farm expansion, the Sealord mussel farm purchases, the new inshore vessel San Hikurangi and the expansion of mussel opening technology at Havelock. They remain concerned that we are still subject to significant outside influences that determine our performance. While exchange rates is a significant influence it is not the only one and they believe it is now time to put in place management strategies that build further on our strengths and fundamentally examine the way in which we transact our business from the ocean to our customers in a way that continues our leadership in sustainable seafood. We need to examine our products and processes and our systems of determining what are the best markets and channels to those markets and what product form maximises value. For some years we have struggled to earn our cost of capital and the only way to improve that is to lift our earnings and/or reduce our capital.

    The Board has approved a revised management structure that will reduce the number of direct reports to me and allow me to focus on reviewing and developing the 10 or so strategic relationships we have with various companies. At the same time and on a more regular basis these three new roles will expose the Board to senior management tasked with moving the company forward.

    Consequently from 1 January 2011 a new structure will be put in place with three direct reports to me.

    Those roles will be:-



    General Manager Operations

    This role will cover all operating divisions of the business. It will include Inshore, Deepwater, Aquaculture, Pacific Tuna, China, and Industry Liaison roles. Division or existing Managers will report through the General Manager Operations position.



    Greg Johansson will be appointed to this role and this will involve him relocating to Auckland and a new appointment to the role of Deepwater Division Manager based in Timaru will be made as a consequence of this.



    General Manager Marketing and Development

    This role will cover all marketing (including the appointment of a marketing team leader), quality management, product specifications, logistics, plus responsibility for Australian activities. It will also take responsibility for the formation of a product innovation and development capability that will look at developing more efficient, effective and sustainable ways of meeting customer requirements.



    Vaughan Wilkinson will be appointed to this role which will involve him relinquishing responsibility for the Pacific Tuna and Industry Liaison roles but taking on responsibility for Australia and leading the new product innovation and development capability.



    General Manager Finance and Administration

    This role will cover all finance and banking, sustainability systems, secretarial and quota administration, accounting and IT systems, insurance, ACC and superannuation and executive support systems. Further development of our software systems and coordinating the expansion of our website and converting it to multi lingual will be an early focus of this role.



    Dean McIntosh will be appointed to this role which will also require him to mentor with others in similar roles in similar sized companies.



    The establishment of these roles is intended to strengthen the structure of the business and the existing executive will continue to meet with the same attendees and reporting as occurred in the past. These changes in no way diminish the roles or responsibilities of the Division Managers and they and I will continue to interact on a regular or as required basis.



    If you have any queries or questions on this email please contact myself.



    Kind Regards

    ><(((☺>

    Eric Barratt

    Managing Director

  4. #54
    Senior Member
    Join Date
    Jun 2008
    Posts
    880

    Default

    This story about Sanford's use of slave labour to catch their fish is an absolute disgrace and very dangerous to NZ's good reputation for ethical food production and thus NZ Inc.

    Whistleblower in hiding after 'slavery' storm

    Orginal Businessweek story:

    Slaves Put Squid on U.S. Dining Tables From South Pacific’s Cruelest Catch

    I will not be investing in Sanford until the current management and fishing practices are changed. Blaming and pursing the whistleblower is bad management in the extreme.

  5. #55
    Dilettante
    Join Date
    Mar 2010
    Location
    Down & out
    Posts
    5,407

    Default

    Yes this is a bad story Jaa and I find the initial response from the CEO very unfortunate. It is unacceptable for Sanford to be involved with any companies that behave like has been suggested in the Bloomberg story
    However, the story is not about "Sanford's use of slave labour". The vessel which is at the center of this story has never worked for Sanford but the crew member who is rightly making the claims, did work on a Sanford associated vessel some years ago and has claimed some serious mistreatment happened onboard there as well. Claims that need to be investigated and the truth discovered ASAP. Sanford has had independent observers on all their associated foreign charter fleet for 10 years now and it is incomprehensible that this can happen while they were onboard. If the claims are proven correct, then the observer program has miserably failed, which would be a bad mark against Sanford's management.
    I will wait for all sides of this story to come out before making any decisions on continued investment in Sanford. My experience with Sanford is of very capable management who take their responsibilites seriously and operate openly and honourably.
    Below is a link (I hope it comes out Ok as I never seem to be able to post them correctly) to a recent article by Gareth Morgan which injects some reality into the discussion about use of cheaper labour in NZ.

    http://www.gmi.co.nz/news/1342/outrage-at-foreign-fishing-fleet-hypocritical.aspx[/URL]

    Discl: Hold SAN
    Last edited by iceman; 27-02-2012 at 09:36 AM. Reason: spelling

  6. #56
    Senior Member Marilyn Munroe's Avatar
    Join Date
    May 2010
    Location
    Hollywood
    Posts
    920

    Default Charter fishing vessel wages

    I propose that all wages for foreign chartered fishing vessels be paid into an account under the control of an independent body for forward disbursement to the crew.

    This would give an accurate record of what has or has not been paid and be used to settle wages disputes. It would enable NZ authorities to check payments against pay contracts that the crew sign and are required to be submitted to the authorities. This body should also have the power to act on the behalf of crew to obtain unpaid wages, and act against breaches of the Truck Act


    BVoop boop de do

    Marilyn

  7. #57
    Dilettante
    Join Date
    Mar 2010
    Location
    Down & out
    Posts
    5,407

    Default

    That is basically what the Government announced yesterday MM. From now on all wages/salaries will need to be paid into a NZ bank account in the name of the individual crew member and under his/her full control. This will ensure that pay rates are easily monitored. But of course there are still issues with what happens once these guys get back to their often very corrupt countries, but that is something the NZ Government or NZ companies can not control. The Government has also announced 100% observer coverage on all foreign charter vessels, something Sanford has been doing voluntarily for 10 years. Both rules are steps in the right direction.

  8. #58
    Senior Member Marilyn Munroe's Avatar
    Join Date
    May 2010
    Location
    Hollywood
    Posts
    920

    Default

    Hopefully the changes requiring all fishing quota vessels to NZ flaged wiil bring some stability and respectability to the fishing industry.


    One of the spin-offs I hope to see is introduction of new vessels into the fleet. If these vessels have on-board sale ready processing so much the better.

    http://www.stuff.co.nz/business/indu...to-new-zealand

    Boop boop de do
    Marilyn
    Diamonds are a girls best friend.

  9. #59
    Advanced Member
    Join Date
    Oct 2001
    Location
    chch, , New Zealand.
    Posts
    2,494

    Default

    Just curious, why does Sanford barely rate a mention on these forums? Is it considered a bit of a dog?

  10. #60
    Permanent Newbie
    Join Date
    Mar 2010
    Posts
    2,496

    Default

    Quote Originally Posted by ratkin View Post
    Just curious, why does Sanford barely rate a mention on these forums? Is it considered a bit of a dog?
    Not an exciting growth company I suppose. I brought it at what I thought was a decent yield and have done little since then. Old management were disparaged but they focused on quota. New mgmt. focusing on customers but buying dodgy boats and selling some quota in Tauranga which in my uneducated and possibly ignorant opinion would always be a bad idea. Quota is what makes a fishing company attractive in my opinion. The only intangible asset that will always be worth something unless the govt change the system.

    The thread below probably took over any Sanford discussion.

    https://www.sharetrader.co.nz/showth...hlight=sanford

    Hope you are coping with the Covid-19 crisis OK, your earlier posts although prescient did come across as overly negative but it is good to see they have lightened up a bit.
    Last edited by Aaron; 29-03-2020 at 07:35 AM.

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •