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  1. #161
    Speedy Az winner69's Avatar
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    Quote Originally Posted by Sideshow Bob View Post
    https://www.nzx.com/announcements/344244

    Revenue is up! Profit it down, but revenue is up, backing our strategy!
    Having not studied SAN for a while should this inspire me to do a bit more study?
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  2. #162
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    Quote Originally Posted by winner69 View Post
    Having not studied SAN for a while should this inspire me to do a bit more study?
    I haven't studied them.....and not that inspired. PE at 16.5, divvy yield at 3.2%, and the announcement was more about H&S, algal blooms and climate change.
    Then all the usual corporate buzzwords - value-add, innovate, engagement etc......doesn't thrill me.
    Last edited by Sideshow Bob; 14-11-2019 at 07:58 AM.

  3. #163
    always learning ... BlackPeter's Avatar
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    Quote Originally Posted by winner69 View Post
    Having not studied SAN for a while should this inspire me to do a bit more study?
    Hard to say ... FWIIW they are on my watch list and I think they are a well managed company, however (nearly) always appear to be too dear. Used to be a holder for some periods of time (not now). But that is true for a number of companies with still climbing SP.

    Looking at the results - not really inspirational. Revenue slightly up, earnings slightly down ... and the fatality of a crew member resulting in a three month outage of a ship shows that the business risk is quite significant. There used to be the old saying: never invest into companies which own equipment which flies or floats ...

    On the other hand - in the long run this might be a winner ... catching (and growing) healthy protein for a growing world population. Obviously - in which way their business will be impacted by global warming is everybody's best guess.
    ----
    "Prediction is very difficult, especially about the future" (Niels Bohr)

  4. #164
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    Quote Originally Posted by winner69 View Post
    Having not studied SAN for a while should this inspire me to do a bit more study?
    SAN is facing huge investment need in upgrading both their fleet (scampi fleet, Antarctic longline fleet and inshore fleet) and processing facilities such as the salmon processing on Stewart Island/Bluff. This investment has been postponed far too long and this is the main reason they are not showing much progress towards the $1 per Green Weight Tonne the CEO set as a goal. They simply can not achieve their lofty goals (goals I like a lot) with their current totally outdated assets.

    The last 2 vessel purchase decisions have been very poor, as can be seen in posts above, with one of them being a 100% write off without catching a fish and the other one being an old and outdated ship that has performed poorly since arriving here. So I'm happy to stay off the SH register for now but will continue to watch them with interest. They have awhile to go yet to convince me to become a holder again.
    Last edited by iceman; 14-11-2019 at 09:18 AM.

  5. #165
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    Pulled the trigger and decided to buy some of these today ... hopefully not a mistake :P

  6. #166
    always learning ... BlackPeter's Avatar
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    Quote Originally Posted by hogie View Post
    Pulled the trigger and decided to buy some of these today ... hopefully not a mistake :P
    What made you decide that today is a good day to buy?
    ----
    "Prediction is very difficult, especially about the future" (Niels Bohr)

  7. #167
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    Quote Originally Posted by BlackPeter View Post
    What made you decide that today is a good day to buy?
    Low PE, arguably undervalued, high growth company with decent dividend (ex. 2 days) ... and most of all gut feel

    Will see how things go!

  8. #168
    always learning ... BlackPeter's Avatar
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    Quote Originally Posted by hogie View Post
    Low PE, arguably undervalued, high growth company with decent dividend (ex. 2 days) ... and most of all gut feel

    Will see how things go!
    Interesting ... I guess I probably would call them fairly priced (at a backward PE of 25 and backwards earnings CAGR of 6), but yes, they are clearly cheaper than the FPH's, AIA's and MFT's of this world ... and hey, if the analysts are right with their predictions (forward PE of 14 and forwards earnings CAGR of 10, then I agree, they do look cheap.

    Problem is just ... analysts typically a tad optimistic .

    Anyway - market might well agree with you. All the best!
    ----
    "Prediction is very difficult, especially about the future" (Niels Bohr)

  9. #169
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    An industry publication reporting SAN to upgrade their Scampi fleet as predicted a few posts ago https://www.undercurrentnews.com/201...campi-vessels/

    Long overdue. I hear they received quotes from 6-8 designers/suppliers and hope they have chosen better than they did with the last 2 disastorous vessel decisions

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