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  1. #651
    percy
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    Brave buyers at 54 cents.!

  2. #652
    Member
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    Quote Originally Posted by percy View Post
    Brave buyers at 54 cents.!
    Another lesson here for me. Bought at $1.28 almost 6 years ago and is funny how it had dropped in the last few years. I must acknowledge I was late to learn when to exit.

  3. #653
    percy
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    The pain continues.

  4. #654
    Member
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    I remember rob fyfe bought huge lots of MHJ after getting into this trainwreck for 70 cents...

    This goes to show that not all director purchases should be viewed as positive...(at least momentarily)

  5. #655
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    Quote Originally Posted by percy View Post
    The pain continues.
    Performance has improved quarter by quarter.
    Last edited by Lease; 11-07-2019 at 09:44 AM.

  6. #656
    percy
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    Quote Originally Posted by Lease View Post
    Performance has improved quarter by quarter.
    Not so.Margin reducing ,huge staff back pay.Millions.

  7. #657
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    Quote Originally Posted by percy View Post
    Not so.Margin reducing ,huge staff back pay.Millions.
    I focus on sales. We don't know margin yet until annual report released. Staff pay back is one-off cost. MHJ valuation has been down to multi-year low should be a good buy.

  8. #658
    percy
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    Quote Originally Posted by Lease View Post
    I focus on sales. We don't know margin yet until annual report released. Staff pay back is one-off cost. MHJ valuation has been down to multi-year low should be a good buy.
    They have stated margin contraction.
    That means margin contraction.
    That means to get the same profit, you need to "greatly" improve sales.That is not happening.
    11 store closures come at a cost.
    10 new stores will take years to recover their fit out costs.
    In plain language it is a disaster.
    Only positive is increase in online sales.But comes off an extremely low base and now only accounts for approx 3% of sales.
    Last edited by percy; 11-07-2019 at 10:51 AM.

  9. #659
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    Quote Originally Posted by percy View Post
    They have stated margin contraction.
    That means margin contraction.
    That means to get the same profit, you need to "greatly" improve sales.That is not happening.
    11 store closures come at a cost.
    10 new stores will take years to recover their fit out costs.
    In plain language it is a disaster.
    Only positive is increase in online sales.But comes off an extremely low base and now only accounts for approx 3% of sales.
    Half year operating profit margin down to 9%. Market has been fully aware the margin contraction, and has act accordingly. I don't think there will be further margin contraction. SP has down from 80C to 55C. I estimate EPS at around 8C. MHJ both PE and PB have be down to historical low.

  10. #660
    Speedy Az winner69's Avatar
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    Quote Originally Posted by percy View Post
    They have stated margin contraction.
    That means margin contraction.
    That means to get the same profit, you need to "greatly" improve sales.That is not happening.
    11 store closures come at a cost.
    10 new stores will take years to recover their fit out costs.
    In plain language it is a disaster.
    Only positive is increase in online sales.But comes off an extremely low base and now only accounts for approx 3% of sales.
    Yes percy they did mention margins - a full year gross margin of 61.1%, compared against 62.8% for the prior year.

    That’s 1.7% points gross margin drop

    On $560m that’s nearly a $10m margin hit ...aussie dollars ...straight through to bottom line.

    Once a trend starts (during transformations) it usually continues or at best it’s hard to arrest a down trend
    Last edited by winner69; 11-07-2019 at 11:06 AM.
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

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