Took a small holding of a new company to the portfolio, Micheal Hill International(MHI) the New Zealand Jewelry chain, with stores in NZ, Australia and Canada.
Having been watching this one for a while and it wasn't getting any cheaper so I thought I would take the plunge before a 10 for 1 share split on Nov19.
The company has aspirations to be a global player and it is very well run and has a great attitude to capital management and prudent expansion.
I would group it with my recent additional purchases of Pumpkin Patch(PPL) as giving exposure to a global market for the long term portfolio for good long term returns.
Just an update on Burger Fuel(BFW)
An indicator of how crowded the gourmet burger market is in Sydney where BFW has two stores. A link to a critique of the food served at Burger Fuel and five other competitors
Shares are still languishing and they finished the day at 65c today. I missed this one but they opened a new store in Napier, a small town on New Zealand's North Island East Coast.
Here's the story:
BurgerFuel Opens Napier StoreBurgerFuel Worldwide Press Release – For immediate release
30 October 2007
BurgerFuel Opens Napier Store
Only a few weeks after opening its second Australian store in King’s Cross, BurgerFuel has opened another new store in Napier. BurgerFuel on Carlyle Street marks the 24th store for the company, with 22 across the North Island and 2 in Sydney, Australia.
Since listing on the NZAX in August, the company has opened a mix of both company owned and franchised stores.
The opening of the Napier store is seen as strategically important to BurgerFuel says Chris Mason CEO “We want people to enjoy a visit to BurgerFuel – wherever they may be. Our commitment to the provinces is just as important as city locations. As BurgerFuel increases store numbers, so too does our customer base grow. Eventually everyone should have access to New Zealand’s best gourmet burger”.
No Friday Free for all column this week but it will be back next week.
C Share Investor 2007