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Thread: MVN Methven

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    Default MVN Methven

    Earnings announcement is overdue and share price dropping markedly - suggests annoucement is unfavourable and people with prior info?

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    Quote Originally Posted by Omega View Post
    Earnings announcement is overdue and share price dropping markedly - suggests annoucement is unfavourable and people with prior info?
    I believe that Macquarie released a research report recently highlighting that MVN's major UK account is up for renewal soon and MVN is not thought to be able to renew this supply agreement.
    Last edited by Anna Naum; 13-11-2009 at 09:42 AM.

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    Methvens press office told me last week that MVN hope to release results 30th Nov

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    Member Penfold's Avatar
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    I am trying to work out if his is a value buy now. Anyone else have any thoughts?

    I would appreciate any input.

    Disc. Holding MVN

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    I emailed the Financial officer of Methven today regarding the sharp fall in their shareprice over the last few weeks . This is their reply (and I quote)


    "The guidance that we provided at the July AGM has not changed and we are not aware of any material factor requiring notification to shareholders or the market.

    We are aware that MacQuarie Securities released a research paper on Methven and believe that this has caused the market activity. I must stress that the views in this paper are MacQuarie's and not Methven".

    they are due to report Monday 30th November, no reason was given for the delay . So it may be a case of reading between the lines here . Kiwigold

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    Junior Member Kryptor's Avatar
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    Default Half year result

    Performance Summary

    - Methven Group outperforms half year guidance
    - Net Debt down 47.4% from $35.0M to $18.3M, better than 30% forecast
    reduction
    - Underlying NPAT down 3.2% on prior corresponding period from $4.3M to $4.2M
    (reported NPAT down 15.4% from $5.0M to $4.2M)
    - EBITDA down 11.5% from $9.6M to $8.5M and Operating Revenue down 5.1% from
    $71.8M to $68.1M
    - Fully imputed interim dividend of 5.5 cps to be paid on 31 December 2009,
    same as June 2009 final dividend and in line with guidance

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    Seems MacQuarie was right on the money.

    Strange though how MVN and media do not seem worried at all about losing this major retailer. Looks like they were supplying with tight margins. I still find it a bit concerning but have faith in what is a great company.

    Hopefully will have some luck with new distribution channels.

    Disc. Holding MVN

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    Speedy Az winner69's Avatar
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    Quote Originally Posted by Anna Naum View Post
    I believe that Macquarie released a research report recently highlighting that MVN's major UK account is up for renewal soon and MVN is not thought to be able to renew this supply agreement.
    Probably now wish that they weren't able to renew this supply agreement

    Looks like Focus was on a slipepry slope back then anyway
    http://www.guardian.co.uk/business/2...e-equity-firms

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    What is up with this company? They put out there anual report and every thing looks good. There UK business is recovering. They announce to the market that they expect profits to increase dramatically yet there share price falls?
    Surely this company has plenty of up side? i.e as world markets recover and Asia grows Methen will be in a good position to take advantage of that?

    Or am I missing something? Does this company have good management? Are there some issues with the board?

    Can any one shed light on this company for me?

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    Member Penfold's Avatar
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    Been holding for about four years. In that time I have never worked out why the market ignores the great yield from a great company. If I was to have a stab at what the issue is, I would say the low volumes of shares traded makes it lumpy as hell, and the capital gains are slow and unpredictable. I have been thinking lately of picking up more if they fall back to the low $1.30's again.

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