MHJ - Michael Hill International.

[scamper]

Yep, I reckoned close on a dollar as well.
Having said that, the chart is pretty horrible.
Could this be a case of TA not giving a good picture?
Belgarion's post #309 above suggests that a good result should see it "go".

[Hoop]

Yep, I reckoned close on a dollar as well.
Having said that, the chart is pretty horrible.
Could this be a case of TA not giving a good picture?
Belgarion's post #309 above suggests that a good result should see it "go".

Hmm...Scamper...Hard to pinpoint the reason why MHI hasn't fired....maybe it's off most of the peoples radar. Must admit until I read these posts I thought MHI had a bad result thanks to that investment into the US marketplace. I completely forgot about last year's one off tax credit of $50M and I read the headlines Michael Hill profits plunge 60% in the NZ Herald skim read the first bit..then thought that's enough and moved on. No mention in the first bit I read about the last years one off tax credits so no reason to pursue it any further by going to look at it in the shareholder announcements for more detail....so for me... maybe bad media press headlines is partially to blame.

TA wise.... some indicators started firing on "Black Friday" so the TA picture up until yesterdays FY result although not fanastic it wasn't that bad either.. so it was possible one or two speculative techies would've be "in" before the FY result....

The MHI chart is a strange one.. as it is hard to draw many valid trendline(3 points) on a meandering price line which also has no obvious formations. ..So have to rely more on other more complex TA indicators such as OBV Williams% RSI etc..so... maybe ...to the "quick eye over of the MHI chart" people, they see a meandering downward action of shareprice and decide to move on as well.

The fall of 3 cents (-4.3%) after the FY result seems harsh..

FA wise.....Back of the envelope calculations from Net profit after tax of $26.5M ( operational profit up 60%) Earnings/share 6.9c PE 9.6 Dividend 4.0c/s Yield 6%.... seems good to me.

TA is only a barometer of investment behaviour... So the question really is.. where were the FA and the dividend hunters yesterday?...Obviously, the small number who sold expected a lot more to be delivered from MHI.

[percy]

Hmm...Scamper...Hard to pinpoint the reason why MHI hasn't fired....maybe it's off most of the peoples radar. Must admit until I read these posts I thought MHI had a bad result thanks to that investment into the US marketplace. I completely forgot about last year's one off tax credit of $50M and I read the headlines Michael Hill profits plunge 60% in the NZ Herald skim read the first bit..then thought that's enough and moved on. No mention in the first bit I read about the last years one off tax credits so no reason to pursue it any further by going to look at it in the shareholder announcements for more detail....so for me... maybe bad media press headlines is partially to blame.

TA wise.... some indicators started firing on "Black Friday" so the TA picture up until yesterdays FY result although not fanastic it wasn't that bad either.. so it was possible one or two speculative techies would've be "in" before the FY result....

The MHI chart is a strange one.. as it is hard to draw many valid trendline(3 points) on a meandering price line which also has no obvious formations. ..So have to rely more on other more complex TA indicators such as OBV Williams% RSI etc..so... maybe ...to the "quick eye over of the MHI chart" people, they see a meandering downward action of shareprice and decide to move on as well.

The fall of 3 cents (-4.3%) after the FY result seems harsh..

FA wise.....Back of the envelope calculations from Net profit after tax of $26.5M ( operational profit up 60%) Earnings/share 6.9c PE 9.6 Dividend 4.0c/s Yield 6%.... seems good to me.

TA is only a barometer of investment behaviour... So the question really is.. where were the FA and the dividend hunters yesterday?...Obviously, the small number who sold expected a lot more to be delivered from MHI.

Loss of imputated divie may not be helping.

[scamper]

Hoop: "..Obviously, the small number who sold expected a lot more to be delivered from MHI."

Or else they only read the Herald's headline too.

Thanks for the comments, Hoop. I think the PR mob for mhi stuffed up there -- the good news should have been at the top.

Percy -- but the divi's up significantly ...

[percy]

Hoop: "..Obviously, the small number who sold expected a lot more to be delivered from MHI."

Or else they only read the Herald's headline too.

Thanks for the comments, Hoop. I think the PR mob for mhi stuffed up there -- the good news should have been at the top.

Percy -- but the divi's up significantly ...

Yes .I thought it was an excellent result.Like other posters I find the SP weakness surprising.I have posted on other threads that I think retail is not the place to be.That may be the reason,I do not know.However MHI is a class act.

[CJ]

All good.

Giving a shareholder more than 50% without making them spend a cent. Not sure it is 'all good'.

At least they are being upfront about it. I am sure they could have done the buyback and then consolidated their shareholding.

[Silverlight]

Well I just learnt something! I thought they would have fallen under the Takeover's code creep provision, but for whatever its worth:

Exceptions to the Fundamental Rule

Limited 5% creep:

A person holding or controlling more than 50% but less than 90% of the voting rights can increase their holding or control by up to 5% of the total voting rights in the company in any 12 month period.

Unlike some other countries’ codes, the “creep” provision does not apply to holders with less than 50% - there is a “no fly zone” between 20% and 50%..

[ratkin]

Packer has been doing a similar "creep" wth consolidated media holdings.

This MHI buyback seems very small though , they already have 49% so its not going to take much to push them over the 50%.
It removes the possibility of any takeovers although the chances of that were minicule anyway

[winner69]

MHI jsut can't stay above 70 cents can it

Except for when the markets were stupid and overvalued everything (during 2007 and 2008) MHI has essentially been between 60 and 80 ..... the 90 side pre 2007 and the lower side post 2008

maybe based on this observation MHI is about fairly (or rationally) valued at the moment anyway and the market has got it right

[blackcap]

MHI jsut can't stay above 70 cents can it

Except for when the markets were stupid and overvalued everything (during 2007 and 2008) MHI has essentially been between 60 and 80 ..... the 90 side pre 2007 and the lower side post 2008

maybe based on this observation MHI is about fairly (or rationally) valued at the moment anyway and the market has got it right

To be fair winner... it was trading about 70 and at 72 even but has just gone ex div....

The question is, will it climb back over now?