MHJ - Michael Hill International.

[winner69]

I read that as being first 8 week s of FY23 being 13.4% higher than FY21 (even with 9 less stores)

That’s how it was just stated on the conference call as well.

call is live now: https://web.lumiconnect.com/#/339859459

My bad .... I read the 280 v 289 as $ sales ..... instead of store numbers

So 6.5% pa growth is probably more reflective of 'underlying' activity currently

But F23 sales are going to be huge v F22 so all OK

What else you learn from the call

[LaserEyeKiwi]

What on earth - there are NO analysts on the call. Zero questions.

honestly the NZ & ASX are a joke sometimes.

EDIT: finally some late questions

[Rawz]

- they say its tough trading environment but margins are holding up and "Margins are sustainable"

- buyback. SP is undervalued. They will monitor price action but no specific restriction on dollars spent to get the 5%. no restriction on price to pay.

- acquisition. reviewing opportunities. "very active in the space"

- sales. Momentum continuing from last year across all markets.

- Inventory levels will increase over the years but at a lower rate than sales. ROI will improve.

All very good aye. I didnt realise how big Quebec was!! 8m population- wow. As a comparison to NZ.. lots of growth ahead

[LaserEyeKiwi]

Buyback - 2 week wait before allowed to start buyback, confirmed 5% is going to be in the 20 million range.

Gross margins - confident of being able to sustain current high gross margin %

Inventory - increase in inventory amount, but as a percentage of turnover it is actually less.

International online rollout - minimal capex and inventory required to support the expansion.

Capex budget: $30m Capex for FY23, mostly going to physcial stores as capex was deffered during last 2 years due to covid.

[Waltzing]

basically you cant have enough of these....

inflation spoofing ... mean proofing ....

nothing like gold and diamonds in times of inflation.. what if crypto flowers all go wilty wilty and people buy jewels instead....

if you would like to make a huge profit and sell now at say 1.10?

as global nuclear war is not far away and you should all go to the beach this summer and get very drunk.. but dont swim and drink...

[Waltzing]

ha ha price dropping!!!! truelly dont you love the market!!!!

yes sell this shocking dog of a stock.

that call was all FAKE news!!!

kick it in the Gully's.... go on ...

gosh we will have to start buying again soon...

those english spives on the call... what a limey bunch of sales men...

where is MR P when you need him....

[Rawz]

by rights this announcement should have been a shocker like RBD. They shouldn't be so confident and talking about growth!! Come on they are taking the pi$$ out of the market. its like the sun is setting in the east, everything is backwards.

Growth, buybacks, acquisitions, margins, profit, sales all increasing.

wow what a company!!! happy holder

[Waltzing]

"Come on they are taking the pi$$ out of the market."

classic !!

every other company is pissing it pants and these guys are drinking champange at the new party HQ and pissing champane over the balcony!!!!

https://www.youtube.com/watch?v=m1sFbvRY_oY

[sb9]

What on earth - there are NO analysts on the call. Zero questions.

honestly the NZ & ASX are a joke sometimes.

EDIT: finally some late questions

Yeah, had similar experience last time when I joined the call. Didn't bother this time, btw any interesting questions?

[Waltzing]

The spives from the Uk are right out of the pits on the london markets....

Interesting questions? its the tone of confidence in a sea of red by comparison to some others.

Spives just classic spives in the business.

They know they are an under valued stock.

orders building ... expect the family to sell down some stock as the buy back goes on.