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  1. #381
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    It was nice to see they have increased the dividend by small amount.

  2. #382
    Senior Member
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    Mar 2001
    Location
    Auckland, , New Zealand.
    Posts
    1,408

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    What are peoples thoughts now on MHI

    Did I read there is disappointing retail results in general in Australia
    Results not out until August
    Been a bit of selling off lately - as long it was not Fisher Funds, if it was, would a good time to buy more

  3. #383
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    May 2013
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    [QUOTE=Jay;412755]What are peoples thoughts now on MHI

    Im expecting a solid 5%+ sales result with slight increase in margin, they are swimming in cash due to insurance upsell so maybe even some returned to us long term holders...mind you wishful thinking as I did liquidate most of my profits in MHI and bought SNK...jenkins!

  4. #384
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    Auckland, , New Zealand.
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    Most have mine have gone due to the recent decline (for a very nice profit) - and retail not looking so good again, well not in Aus and possibly here, also thought I read they were expecting flat results.
    Still sitting on most of the cash from the sale, but did buy a few EBOS and considereing FRE and/or FPH - all for the long term portfolio.

  5. #385
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    Apr 2003
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    Wellington, New Zealand
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    Close enough Boofters? Or did you mean 5%+ on same store sales? Because then it is disappointing. I am happy enough with this. Good progress being made in tough times.


    MHI
    09/07/2013 13:20
    QUARTER

    REL: 1320 HRS Michael Hill International Limited

    QUARTER: MHI: 12 months trading update to 30 June 2013

    Michael Hill International Limited
    12 months trading update to 30 June 2013

    Note that the below figures represent 11 months accounting adjusted sales
    results plus Junepreliminary sales figures prior to final accounting
    adjustments. The below figures are unaudited.Same stores and all stores
    revenue figures stated below include the Professional Care Plan (PCP)
    revenues brought to income during the period based on an estimated pattern of
    recognition.

    Revenue from sale of goods and services for the 12 months to 30June 2013:

    The following figures are in NZ dollars Last Year This Year
    % Var
    Australia same stores 319,731,519 321,273,889 0.5%
    New Zealand same stores 108,049,715 109,228,722 1.1%
    Canada same stores 52,095,668 51,136,868 (1.8%)
    United States same stores 10,826,840 11,044,664 2.0%
    Total same stores $490,703,742 $492,684,143 0.4%

    Australia all stores
    331,018,099 355,100,461 7.3%
    New Zealand all stores 109,110,440 110,501,371 1.3%
    Canada all stores 55,124,222 63,600,526 15.4%
    United States all stores
    11,998,659 12,337,271 2.8%
    Total all stores $507,251,421 $541,539,629 6.8%

    Exchange rates used for the 12 months:
    Australia 0.78 0.80
    Canada 0.80 0.83
    United States 0.80 0.82

    The following figures are in local currency Last Year This Year %
    Var
    Australia same stores AUD 248,592,841 257,140,948 3.4%
    New Zealand same stores NZD 108,049,715 109,228,722 1.1%
    Canada same stores CAD 41,840,248 42,189,547 0.8%
    United States same stores USD 8,638,925 9,094,341 5.3%

    Australia all stores AUD 257,365,032 284,318,778
    10.5%
    New Zealand all stores NZD 109,110,440 110,501,371 1.3%
    Canada all stores CAD 44,264,994 52,509,541 18.6%
    United States all stores USD 9,576,257 10,158,838 6.1%

    Revenue from sale of Professional Care Plans for the 12 months to 30June
    2013:

    The following figures are in NZ dollars Last Year This Year % Var
    PCP revenue collected $26,955,284 $33,072,435 22.7%
    PCP revenue brought to income $6,025,417 $11,965,854 98.6%

    Sales in the fourth quarter were difficult for the Group with flat sales
    growth in the key Australian market and negative growth in the other three
    markets for the quarter.

    The year finished slightly up for the Group in NZD and all markets finished
    with positive sales growth in local currency on a same store basis and it was
    pleasing that these sales were achieved on a higher margin. The contribution
    from new stores opened during the year resulted in revenue lifting by
    6.8%.The directors are satisfied with the performance over the past 12 months
    especially given theongoing challenging environment.

    Cash flow remains strong and our Professional Care Plan product continuesto
    deliver good cash flow to the business andis now also contributing solidly
    tothe Group's results. The revenue from these plans is carried on the balance
    sheet as deferred revenue and is then brought to income over the life of the
    plans (3 year and lifetime plans).

    It should be noted that PCP revenue is brought to account to the current
    period based on estimated use of plans over their lifetimes. The amount of
    PCP revenue included in the above revenue numbers is based on existing
    estimates and these estimates will be subject to review as part of year end
    accounts preparation.
    The full year results for the 12 months ending 30June 2013 are due for
    release to the NZX on the 16th August, 2013.

    Sir Michael Hill 9July 2013
    Chairman

  6. #386
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    Close enough Boofters? Or did you mean 5%+ on same store sales? Because then it is disappointing. I am happy enough with this. Good progress being made in tough times.


    MHI
    09/07/2013 13:20
    QUARTER

    REL: 1320 HRS Michael Hill International Limited

    QUARTER: MHI: 12 months trading update to 30 June 2013

    Michael Hill International Limited
    12 months trading update to 30 June 2013

    Note that the below figures represent 11 months accounting adjusted sales
    results plus Junepreliminary sales figures prior to final accounting
    adjustments. The below figures are unaudited.Same stores and all stores
    revenue figures stated below include the Professional Care Plan (PCP)
    revenues brought to income during the period based on an estimated pattern of
    recognition.

    Revenue from sale of goods and services for the 12 months to 30June 2013:

    The following figures are in NZ dollars Last Year This Year
    % Var
    Australia same stores 319,731,519 321,273,889 0.5%
    New Zealand same stores 108,049,715 109,228,722 1.1%
    Canada same stores 52,095,668 51,136,868 (1.8%)
    United States same stores 10,826,840 11,044,664 2.0%
    Total same stores $490,703,742 $492,684,143 0.4%

    Australia all stores
    331,018,099 355,100,461 7.3%
    New Zealand all stores 109,110,440 110,501,371 1.3%
    Canada all stores 55,124,222 63,600,526 15.4%
    United States all stores
    11,998,659 12,337,271 2.8%
    Total all stores $507,251,421 $541,539,629 6.8%

    Exchange rates used for the 12 months:
    Australia 0.78 0.80
    Canada 0.80 0.83
    United States 0.80 0.82

    The following figures are in local currency Last Year This Year %
    Var
    Australia same stores AUD 248,592,841 257,140,948 3.4%
    New Zealand same stores NZD 108,049,715 109,228,722 1.1%
    Canada same stores CAD 41,840,248 42,189,547 0.8%
    United States same stores USD 8,638,925 9,094,341 5.3%

    Australia all stores AUD 257,365,032 284,318,778
    10.5%
    New Zealand all stores NZD 109,110,440 110,501,371 1.3%
    Canada all stores CAD 44,264,994 52,509,541 18.6%
    United States all stores USD 9,576,257 10,158,838 6.1%

    Revenue from sale of Professional Care Plans for the 12 months to 30June
    2013:

    The following figures are in NZ dollars Last Year This Year % Var
    PCP revenue collected $26,955,284 $33,072,435 22.7%
    PCP revenue brought to income $6,025,417 $11,965,854 98.6%

    Sales in the fourth quarter were difficult for the Group with flat sales
    growth in the key Australian market and negative growth in the other three
    markets for the quarter.

    The year finished slightly up for the Group in NZD and all markets finished
    with positive sales growth in local currency on a same store basis and it was
    pleasing that these sales were achieved on a higher margin. The contribution
    from new stores opened during the year resulted in revenue lifting by
    6.8%.The directors are satisfied with the performance over the past 12 months
    especially given theongoing challenging environment.

    Cash flow remains strong and our Professional Care Plan product continuesto
    deliver good cash flow to the business andis now also contributing solidly
    tothe Group's results. The revenue from these plans is carried on the balance
    sheet as deferred revenue and is then brought to income over the life of the
    plans (3 year and lifetime plans).

    It should be noted that PCP revenue is brought to account to the current
    period based on estimated use of plans over their lifetimes. The amount of
    PCP revenue included in the above revenue numbers is based on existing
    estimates and these estimates will be subject to review as part of year end
    accounts preparation.
    The full year results for the 12 months ending 30June 2013 are due for
    release to the NZX on the 16th August, 2013.

    Sir Michael Hill 9July 2013
    Chairman

  7. #387
    Member
    Join Date
    May 2013
    Posts
    59

    Default

    [QUOTE=blackcap;415899]Close enough Boofters? Or did you mean 5%+ on same store sales? Because then it is disappointing. I am happy enough with this. Good progress being made in tough times.


    Yeah I reckon this is a pretty good result. What it shows me is their new store opening process becomes qucikly cashflow positive and that free cashflows being generated are substantial.
    Im happy to hold 66% of my portfolio here for another 12 months, interesting to see also MHTL is collaborating with the Japanese golf tour, will we see asian expansion of the MHI brand?

  8. #388
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    Join Date
    Feb 2005
    Location
    Auckland
    Posts
    3,115

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    Quote Originally Posted by SparkyTheClown View Post
    I'm tempted I must say. I think its a fine company, with great people. The PCP revenue is impressive. If I thought they could grow by solid double digits over the next 5 years, then an entry point around $1.20 would sorely tempt me.
    Why are you interested in retail stocks at the moment (i note your comment on Pumpkin patch).

    Where is the growth coming from? NZ and Australia or do you think their US/Canada expansion (are they still doing this?) will work out?
    Free delivery worldwide with Book Depository http://www.bookdepository.co.uk

  9. #389
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    Join Date
    Apr 2003
    Location
    Wellington, New Zealand
    Posts
    4,876

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    Quote Originally Posted by CJ View Post
    Why are you interested in retail stocks at the moment (i note your comment on Pumpkin patch).

    Where is the growth coming from? NZ and Australia or do you think their US/Canada expansion (are they still doing this?) will work out?
    Hi CJ, I think it is a bit simplistic to have a view on retail and tarnish everyone with the same brush. As in any industry there are those that perform well and those that do not. MHI have shown themselves to be proven performers and continue to grow revenues and profits in what is difficult retailing conditions. The US and Canada expansion is still ongoing and by all accounts going well. The following figures show that All stores (not same stores which was flat) revenues are growing rather well. Canada in particular grew by 15%.

    Australia all stores
    331,018,099 355,100,461 7.3%
    New Zealand all stores 109,110,440 110,501,371 1.3%
    Canada all stores 55,124,222 63,600,526 15.4%
    United States all stores
    11,998,659 12,337,271 2.8%
    Total all stores $507,251,421 $541,539,629 6.8%


    p.s data from latest MHI announcement to market

  10. #390
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    Join Date
    Dec 2009
    Location
    Eastern BoP..
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    1,808

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    Quote Originally Posted by SparkyTheClown View Post
    Hi CJ,

    Being contrarian.

    I'm picking growth will come from cyclical gains as the economy improves in Australia,plus overall gains from the new PCP revenue streams - as high as 40% of all sales are now also gaining PCP revenue.
    Nothing wrong with being contrarian Sparky.. Do you really think that the Aussie economy will improve over the next two years ??..

    I do not..

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