Looking at format and style ... the report is quite readable and easy to digest - maybe their CEO is keen to earn the annual reward for the most readable annual report? Anyway, I think this is a good thing ... some other companies could learn from that.
Maybe though they should stop talking in their reports about "non living reward members". So easy to misread this phrase - and then it would better fit into a totally different industry :
Looking at the content - well, it is what it is and I don't think I learned anything significant new from reading the report compared to the financials they published a month ago - which obviously makes the report already at publish date quite irrelevant. Given the huge delays to publish the data one wonders about the value to do it now. What exactly did they do during the Covid-downtime? Though maybe the auditors have not been able to physically inspect their books?
My view on the results has been already captured in post #281 in this thread. Maybe worthwhile adding: liabilities to assets pretty high at 64.2% (this is not flash and - yes, NTA sitting at negative 10.4 cents per share (which however is better than last year at negative 11.6 cents). This amazing goodwill they have on their books better does not get eroded :
Sadly - nothing tangible on future plans or outlook, which feels particularly surprising given that we are already 1/3rd into the next financial year.
Still - I think a reasonable dividend stock (with PE around 10), but don't really expect any growth worthwhile mentioning ...
----
"Prediction is very difficult, especially about the future" (Niels Bohr)
This one is sitting at the corner. Every dog should have its run in the bullish market. Why GHX does not move at all?
Its historical reports and numbers seem not to bad at all, with reasonable dividend yield. The business model is changing to have medical center and community medical care services.
If the vaccine arrives as expected next year, assuming 80% of NZ population (4 million) will be injected. GHX has anything to do with this service? If yes, profit surges?
I ponder all that myself. Worst performing stock in my portfolio. Half Year due this week so lets hope for some positive news. Guessing the competition in the Pharmacy division keeping people away.
If GHX has vaccination certified pharmacists (almost guaranteed they do) then likely they should see some volume. Some of the vaccines have rigid temperature requirements so getting fridge/freezer for these could involve some cost?
Amazon has announced entry to US pharmacy market recently which has hit the main player share prices over there. However NZ market cost wise completely different. Chemist Warehouse still expanding in NZ I think.
I ponder all that myself. Worst performing stock in my portfolio. Half Year due this week so lets hope for some positive news. Guessing the competition in the Pharmacy division keeping people away.
It is not a dying business. The medical center and community care are growing at slow speed. Even NZR and ZEL have their move, this one does not move at all. Management team seems not keen to capital market?
I ponder all that myself. Worst performing stock in my portfolio. Half Year due this week so lets hope for some positive news. Guessing the competition in the Pharmacy division keeping people away.
A variety of reasons as far as I can see including -
- a reasonably tight share register
- not an easy stock to buy quantities of
- No dividend paid earlier in 2020
- probably doesn't star on many investor's radar despite a reasonable Div yield in normal times
- a lot of intangibles & low reported NTA accordingly
SP rage I have seen has reached north of $1.22 in pre-Covid times
Who knows - in recent conditions could deserve a rerating by investors
but that may also depend on what the upcoming Dec 2020 Div looks like
along with forward guidance picture from the board.
It probably may not be worse but better than earlier / middle 6 months of this year.
What effect has Aussie Pharmacy warehouse had on a section of GXH's pharmacy business ?
Post the Covid lockdowns, the local outlets have all appeared busy business as usual with an
element of further deferred Covid lockdown time business going through to catch up.
Anyone encountered a Doctors or Pharmacy not humming or busy in normal times ?
Discl: holder
Last edited by nztx; 24-11-2020 at 10:14 PM.
Reason: add more
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Originally Posted by keenkiwiflyer
:
and - yes, NTA sitting at negative 10.4 cents per share (which however is better than last year at negative 11.6 cents). This amazing goodwill they have on their books better does not get eroded 
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