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  1. #171
    percy
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    Quote Originally Posted by Beagle View Post
    Thanks Sideshow Bob. 1-2% margins makes airlines margins look fat !!
    Nice ramp Percy
    Agree Iceman, looks cheap on paper but needs to be VERY cheap with no growth, wafer thin margins, aging plant and equipment and the genuine prospect, (Ashley Bloomfield thinks this is more likely than not), of another breakout of Covid in the community potentially causing mayhem to processing.
    High potential returns and high risk is my initial assessment. Could be okay for a modest portfolio allocation ?...I need to stop asking awkward questions, (thank you for your time and patience guys), and do more reading.
    In hindsight,had some one a year ago had the foresight to say SFF would pay a fully imputed dive of 5.4 cents per share [8.3% net or over 12%gross], we would have said they were ramping.
    The 2018 annual report set out SFF Ltd's objectives.The 2019 annual reports confirms they are meeting those objectives.[Doing as they say they will do]
    Both SFF Ltd,and SFF CoOp have very strong balance sheets, little debt in Ltd ,and no debt in the CoOp.On huge revenue, as McDonalds have proven, you do not need large margins to make good profits. The future for "grass feed red meat" is bright ,as more people want to know what they are eating,and where it came from.Again there looks to be a food shortage in China this year,which should under pin the price we sell meat to them at.
    Last edited by percy; 11-08-2020 at 07:32 PM.

  2. #172
    Dilettante
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    Mar 2010
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    On my last day of isolation and being totally bored, I will add a bit of anecdotal evidence. Some of my co-workers are Chinese. We live together for months on end so have some intimate discussions. Over the last few months I have been sounding them out quite hard on where we stand with trade with China compared to other countries and what COVID has meant to them. They tell me what they read (and believe) which is the Chinese state controlled media.

    In summary, I could say that they are 100% in support of following rules with isolation and behaviour such as use of masks and social distancing.They want NO EXEMPTIONS from those rules.
    We work in fishing, so they are all well aware of quality and production. But it is clear from what they are saying that China is being told to watch out for where their food comes from to make sure it is safe. Their attitudes towards things such as how the animals they eat are fed/treated has changed a lot. TV has shown bad practices of a salmon farm in Norway so now they tell me they no longer buy Norwegian salmon.
    Australia is siding with Trump so they don;t want to buy Australian products.

    NZ, they tell me, is different. They have nothing but positive things to say about NZ and our produce, particularly our grass fed red meat. SFF has figured this out , as is clear in all their commentary.

    This gives me increased confidence in investing in this company/industry.

  3. #173
    ShareTrader Legend Beagle's Avatar
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    Jul 2010
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    Auckland
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    Hope you get out tomorrow morning and can get back to Nelson to see your family.
    More time locked down in Auckland is the last thing you need.
    Best wishes mate.
    Last edited by Beagle; 11-08-2020 at 10:10 PM.
    Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.
    Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine

  4. #174
    Advanced Member
    Join Date
    Feb 2011
    Location
    Wellington
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    2,451

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    Quote Originally Posted by Beagle View Post
    Hope you get out tomorrow morning and can get back to Nelson to see your family.
    More time locked down in Auckland is the last thing you need.
    Best wishes mate.
    Beagle have you got a spare kennel ? I'm thinking likely to be a roadblock at the end of the Bombay hills and no flights ....

  5. #175
    Dilettante
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    Quote Originally Posted by Beagle View Post
    Hope you get out tomorrow morning and can get back to Nelson to see your family.
    More time locked down in Auckland is the last thing you need.
    Best wishes mate.
    Thanks mate. Been in negotiations with MOH since 5AM and have managed to convince them to let me out a couple of hours early and get a flight at 8AM. All I can do now is keep my fingers crossed to hope this 195 day journey is nearing an end !! Sorry, not related to SFF except I need to get home to spend my juicy divie on Friday :-)

  6. #176
    percy
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    Oct 2009
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    christchurch
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    We are all thinking of you.Trust you get home today.

  7. #177
    ShareTrader Legend Beagle's Avatar
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    Quote Originally Posted by iceman View Post
    Thanks mate. Been in negotiations with MOH since 5AM and have managed to convince them to let me out a couple of hours early and get a flight at 8AM. All I can do now is keep my fingers crossed to hope this 195 day journey is nearing an end !! Sorry, not related to SFF except I need to get home to spend my juicy divie on Friday :-)
    Very happy for you mate. Hope you've touched down in Nelson already and are giving your wife and family a big hug
    Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.
    Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine

  8. #178
    Guru
    Join Date
    Jul 2004
    Location
    Bolivia.
    Posts
    4,855

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    Quote Originally Posted by iceman View Post
    Thanks mate. Been in negotiations with MOH since 5AM and have managed to convince them to let me out a couple of hours early and get a flight at 8AM. All I can do now is keep my fingers crossed to hope this 195 day journey is nearing an end !! Sorry, not related to SFF except I need to get home to spend my juicy divie on Friday :-)
    Good luck Iceman and hope it works out......hopefully you're just touching down in Nelson right about now! All the best.

  9. #179
    Dilettante
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    Thanks guys. Sure is great to return to sunny Nelson. What a beautiful country we've got :-)

  10. #180
    Guru
    Join Date
    Jul 2004
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    Bolivia.
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    HDD! (Happy Dividend Day)

    Cash in the bank.

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