MVN Methven

[Snow Leopard]

Whilst not the most spectacular success in the Paper Tiger Investment Portfolio neither is it the worst.

I appear to be on a nice little capital gain that is beating the bank plus I have had 11c after tax in dividends in the last year, though that as a one-off element to it and I am not expecting that to be maintained.

Hoping that steady and uneventful progress is the future.

Best Wishes
Paper Tiger

[winner69]

One of the quiet achievers these days

Just get on with making money with no fuss

All is forgiven for past misdemeanours

https://www.nzx.com/files/attachments/242188.pdf

[percy]

Yes a surprisingly good result.

[couta1]

Yes a surprisingly good result.

Careful Percy, soon you'll talk yourself into buying some.

[percy]

Careful Percy, soon you'll talk yourself into buying some.

lol.
No danger of that.!

[Snow Leopard]

Real earnings of $0.11 a share, aiming at $0.12 >> $0.13 next year - Nice.

Cash-flow - nice.

Dividend - nice.

It can stay in the portfolio.

Best Wishes
Paper Tiger

[tim23]

Great result and presentation market finally woke up to the fact late in the day

[BlackPeter]

Hmm - don't really follow this company anymore (sold out some time ago), but the recent SP movement coinciding with the AGM caught my eye.

A cursory look over the presentation didn't reveal anything terrible ... results solid (though not inspirational) - so what happened which let the SP behave like a lead balloon released from an airplane?

Is it just that the crowd slowly realises that the 130 target might be further away than another 2 years given the predicted growth rate?

Anything else I missed in the presentation?

[percy]

I think you may have missed two words in the trading update,;
Challenging.
Cautiously.

[BlackPeter]

I think you may have missed two words in the trading update,;
Challenging.
Cautiously.

You are right ... now that you say it ...

The first three months of FY 17 have been challenging in Australia caused by
us not recovering the impact of AU$ devaluation and also due to the impact on
market demand as a result of Masters’ clearance activity. For those of you
who aren’t aware, Masters is the No. 2 DIY retailer in Australia (though not a
big Methven customer), with 62 stores and revenue of A$1.1 billion. Owned by
Woolworths, they confirmed plans to close their entire operation by December
this year, creating a significant one-off impact to the market.
The Board cautiously maintains our full year guidance, though recognise this
one-off market impact may cause some variation between our first and second
half results.

In a speech going over 19 pages - isn't it amazing what difference two words can make ?