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28-01-2010, 08:12 PM
#111
Originally Posted by Silverlight
Interesting notes on cost, their profitability is there to see though, even in the horrible 08 -09 year they were still profitable.
They own a lot of their own property as well, so I don't see leasing as as issue, I also find it quite intriguing that they pay two dividends a year with no Tax Credit's!
It would be more beneficial for the shareholders if SCY did an on market buyback of shares and save up the tax credits, especially when such a discount to NTA exists, unless of course mgmt don't beleive their own figures on Smithcorp.
SCY have so many millions in tax credits its not funny .... they won't be paying incoome tax for years
Therefore your divies are 'inflated' by SCY not having to pay tax ... therefore no impuation credits attached
Expansion into Wellington could be interesting ... there is void of big furniture shops in the area as a result of a few casualties in recent years
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28-01-2010, 09:04 PM
#112
Originally Posted by winner69
SCY have so many millions in tax credits its not funny .... they won't be paying incoome tax for years
Therefore your divies are 'inflated' by SCY not having to pay tax ... therefore no impuation credits attached
Expansion into Wellington could be interesting ... there is void of big furniture shops in the area as a result of a few casualties in recent years
Winner
You forgetting the rather large Freedom store in Thordon?
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28-01-2010, 09:20 PM
#113
Maybe void was the wrong word ... maybe less than there were
Big Save has a decent sized stores and Harvey Norman is pretty big in Porirua and Lower Hutt for furniture
Thinking that the likes of Radfords and Hazelwoods have gone in recent years
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28-01-2010, 09:23 PM
#114
Originally Posted by percy
Silverlight.
I have been a shareholder since 1991 and have asked that question 100s of times.
here are the reasons; competition.
low margins.
retailers have large leverage liabilities with store leases.
scy have a large staff which means a large consta nt cost.
I think it is the low margins .... or razor thin considering they don't need to pay tax
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03-02-2010, 09:05 AM
#115
NEW STORE OPENING
Smiths City Group Limited (SCY) advises that it has signed an unconditional
Agreement to Lease with Trentham City Investments Limited to open a retail outlet in
a new retail development in Upper Hutt. The shop, with a foot print of 2,196 square
metres in area, will open for business in March.
The Upper Hutt opening supplements a successful opening of a 1,800 square metre
shop in the Porirua Mega Centre prior to Christmas.
The openings are the result of a strategic review by the board of SCY which has
identified Wellington as the best area for immediate growth.
As reported in the recently released Half Yearly Report as at 31 October 2009, it is
expected that the opening of stores in the Wellington area will make use of the
logistics already in place for the operations of LV Martin & Son without increasing
Group warehousing and delivery costs.
The company will continue to seek other opportunities in the Wellington region.
~ * ~ De Peones a Reinas ~ * ~
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04-02-2010, 04:59 PM
#116
MOVEING at a faster PACE..
WELL @ 40 cents it would take NO effort to hit 50 cents a 20%+ in the short term and with the plan for 4 shops in the WELLINGTON area could all happen in the next 3 MONTHS..
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04-02-2010, 05:11 PM
#117
Originally Posted by BRICKS
WELL @ 40 cents it would take NO effort to hit 50 cents a 20%+ in the short term and with the plan for 4 shops in the WELLINGTON area could all happen in the next 3 MONTHS..
Good on you Bricks.We are with you.
Siverlight.I think SCY would rather expand than do a share buy back.
I do however think they could do both.Shares brought back ,they could cancel,divy saved would pay inerest bill.So net no cost.
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04-02-2010, 05:47 PM
#118
But 50c is a brave call on a stock that's hit 40c a couple of times in the last 15 months without being able to break through.
Good luck. I don't hold.
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05-02-2010, 08:48 AM
#119
THANKS to Mr Mac...
Originally Posted by macduffy
But 50c is a brave call on a stock that's hit 40c a couple of times in the last 15 months without being able to break through.
Good luck. I don't hold.
Now that you have disclosed that you don't hold AIR or SCY but you do run a FREE advice service on these stocks , BRICKS will disclose that he dose not hold NOD but will not offer
ADVICE..
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05-02-2010, 01:41 PM
#120
Originally Posted by BRICKS
Now that you have disclosed that you don't hold AIR or SCY but you do run a FREE advice service on these stocks , BRICKS will disclose that he dose not hold NOD but will not offer
ADVICE..
Since May 2005, BRICKS has missed the fact that this is a forum, where posters offer opinions and perspectives from differing viewpoints, that won't necessarily, and very quite likely, agree with his opinion. Just because someone does or doesn't own the same shares, doesn't mean that they don't have a (valid) opinion or point.
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