The Warehouse: Is it Time to Bow Out?

Let me begin this piece with I no longer wish to be a shareholder in The Warehouse. The exact phrase I used to start the last piece I wrote about this wayward dinosaur.

The Warehouse Group [WHS.NZ] is a sad part of this gentleman's portfolio. It hasn't lost me money , yet, and it hasn't made me any money either .

I SHOULD HAVE GOTTEN OUT A LONG TIME AGO. 

On 19th December 2016 I would have got out with a very small profit.

I now hold it at a small loss.

On 20th February 2017 I still hold 5000 of the little buggers but  seeing how the company is about to wring out one last drop of money from the golden goose in March - 1000 people at head office is about 800 too many for it size - I will hold on for the inevitable shares price rise then ditch the little buggers.

20.12.2016 Warehouse Announcement.

The strategy will be announced on Thursday, 9 March 2017. "At that time, we will also provide an update on progress against Group strategy, including details of actions taken to reduce the Group's cost of doing business."

Lets hope - crossing fingers and everything else - they really make some radical changes and Briscoe's The Warehouse.

I'm not sure that Nick Grayston is the right guy for it OR whether owners/customers will even allow him to do it.

I'm sure this is just the beginning of the end for the company and James Pascoe will be left to mop up whatever he doesn't own.

Good luck.

I wont be there.



Share Investor Portfolio @ 17 Feb 2017


The Warehouse Group @ Share Investor


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c Share Investor 2017

Share Price Alert: Contact Energy Ltd 10

[CEN.NZX] Contact Energy had a sluggish operational report out last month but has a good one out today.

The one out this morn comes in conjunction with a half year profit that is at last starting to look good.

What ever you think of Contact as a whole company - and there are many and varied views - there is no doubt to me this company is on a turn around since Dennis Barnes came on the scene.

It now has its future 100% in the cloud and that appears to me to be good for the customer and the shareholder going forward.

Many of those account managers and associated hangers on really should go now - you will be booted out as Contact moves more and more to the cloud over the next 12 months.

All that has to happen now is that serious knuckling down from staff at head office and all around New Zealand towards what the customer wants.  

Focus on the customer and the rest will take care of itself.

If your not one of those Contact Energy staff that does that, then this correspondent does not want you.

If your looking at buying get in before $5.

You wont be disappointed. 

Share Investors Portfolio @ 10 Feb 2017


CEN @ Share Investor

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c Share Investor 2017

Share Price Alert: Hallenstein Glasson Holdings Ltd 4

Hallenstein Glasson Holdings Ltd [HLG.NZX] Is a stock we clapped eyes on on March 23rd 2016.

It was selling for more or less the same price as it is going for today.

Much has been said in the media as in this story yesterday about listed retailers in general.

I have it that Hallensteins will get a strong number in comparison to other years but its not going to be their best year by far.

All signs point to an upwards trajectory in profit for the coming 12 months.

After that all bets are off.

We are missing out one factor when we talk about stocks - that is, The Trump Factor. 

When we talk about stocks we must always start our sentence with those 3 words and go from there.

What will he say, what will he do.

Should be an interesting year for Hallensteins.



Hallenstein Glasson @ Share Investor

Share Investors Portfolio @ 19th Oct 2017

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Discuss HLG @ Share Investor Forum

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c Share Investor 2017

Share Price Alert: New Zealand Refining Ltd 5 (Update)

New Zealand Refining Ltd [NZR.NZX] 

We last looked at this stock back on July 10 2016. It was selling for $2.47 per share.

Now due to this news it is currently up 15c to $2.85.

It will go up and over 3 bucks.

Looks to me like this is a buy all the way to 4 bucks, especially if as promised management will raise the dividend and as they say their days of spending are over (at least for the next 5 years).

I hate to point it out but i did write about this back in July, "this gem is set to rocket when things fall into place".

I think that it will rocket.

Get in while you can.


*Just an addendum to this 2 days ago - even better value now - $2.65




NZR @ Share Investor

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Share Investors Portfolio @ 13 Jan 2017

 Think Bigger, By Michael Hill

c Share Investor 2017

Share Price Alert: Reminder

Ever since Nov 11 2016 when I picked this stock again (look below at links for more evidence) this little puppy [CEN.NZX] has packed on roughly 50c.

All things point to a healthy return in August 2017 because of the dry season we are experiencing of late.

Some of that may have caught the early risers BUT...

I still think there's some left in the tank yet an with a possible increased dividend to be announced Feb 13 2017,

I would buy up to any under 5 bucks and you should do well out of this little stunner if you were thinking of buying this anyway.

Early risers would have gotten in on this stock back in Nov.

Its been alright for me.


CEN @ Share Investor

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Discuss this stock at Share Investor Forum - Register free
Download CEN Company Reports


Share Investors Portfolio @ 6 Jan 2017

The Warren Buffett Way by Robert G. Hagstrom Buy new: $19.54 / Used from: $12.94 Usually ships in 24 hours

c Share Investor 2017

Westpac: Credit Where Credit is Due

Previously I have had many bad banking experiences.

Now I must avail you to a positive message,

One that has almost left me speechless,

The bank concerned was Westpac Banking Group Ltd [WBC.NZX] .

I didn't previously have a very good opinion of them. I probably still don't.

This happened after many months of tooing and frooing over interest charges and fees on my credit card.

This card was my first credit card and i got it back in 1995 when I graduated from Auckland Uni and it had a picture of the University on it and $1000 in credit.

Fast forward 21 years and I just happen to take up the offer of having my limit extended to $10,000 and for the interest free period extended to 1 year.

What do you know last month a got my bill and attached to it was 2 forms of interest charged.

When i queried it (after going through about 5 people)i got a friendly chap Ike Harris on the line and he told me that Westpac came to their credit card accounts in a different way to other banks - I've had these before, they were for way more money and they didn't cost a cent)

Anyway Ike told me that if you purchased something during the month you would accrue interest, i knew this from before but because of my stroke i forgot about it at the time i made the purchase.

That was OK, I was prepared for this.

What i didn't know is that it wasn't only for THAT month, the interest would continue to accrue for the entire period of the $10,000 loan.

I told Ike that i had free credit cards before and i wasn't charged in this way.

Well Ike said we are different.

Much discussion in my broken English followed as to the seriousness or otherwise of the way they charged their credit cards.

Anyway.

This is what Ike did:

Thanks for getting in touch with us.

Please find attached the information requested when we spoke today.

-a balance transfer of $10,000.00 was completed on 07/03/2016 at 0.00% pa for 12 months

-from that date transactions occurred on the account and were subject to interest charges

-as at today, there is still $1,115.42 of charges subject to interest. We have added these charges onto the balance transfer of $10,000.00 which will also be at the rate of 0.00% pa until the balance transfer expires in March 2017

-interest will begin to accrue on these amounts after 07/03/2017 if they are not paid in full

-you may see a small amount of interest on your next statement as we are part way through this month. I will reverse these charges as they appear

True to his word the interest was reversed and all associated charges dropped.

Ike was a brilliant young man who should be working to help out people because he was patient.

Have you had similar stories with ''free'' credit cards?

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           Recommended Amazon Reading

The Intelligent Investor: The Definitive Book on Value Investing. A Book of Practical Counsel (Revised Edition) by Benjamin Graham

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                  c Share Investor 2017

• 
  

Is Mainfreight Worth 20 Bucks Plus a Share?

The last time we visited Mainfreight Ltd [MFT.NZ] it was worth just over 10 bucks, just 6.5 years latter it is worth $20.71.

We should look at a few facts first to dispel any myths surrounding the company.


2016

*Net Reported Profit   88 mil
*Price Earnings Ratio (P/E) 22.65
*Earnings per Share (EPS) 96.24
*Net Tangible Assets per share 329.21c
*Total Net Div Paid (last full financial year) 40c
*Div Yield 1.79%
*Market Cap 2,079,000,000


2011

*Net Reported Profit  26 mil
*Price Earnings Ratio (P/E) 13.92 
*Earnings per Share (EPS) 47.88
*Net Tangible Assets per share 1.86
*Total Net Div Paid (last full financial year) 19c
*Div Yield 2.24%
*Market Cap 880,000,000


Source - Morningstar


The figures obviously speak for themselves.

The 2 sets of figures make the 2016 figures look good by comparison. 

I'm not going into the many other sets of figs like net/debt equity or the net margin as a % but they are generally within the range of a good corporate citizen.

Mainfreight would not operate any other way.

If you want to delve into these find another blog - I'm no longer capable of doing such things. 

Except to say if they ever break with tradition and find another way of reporting profit, I'm outta here.

I don't think that's going to happened any time soon because it seems ingrained deep within the Mainfreight culture that flim flam and politically correct nonsense does not exist.  

Good.

The company are looking set to tap that 3 billion sales mark within the next 5 years and there are all sorts of lofty figures that they have as a company as aspirations to set.

Now they just have to achieve these.

Not easy.

But logistics isnt easy and its not supposed to be.

Every client that they have is picked apart and put back together again to see if there is a more efficient way of doing things.

They seem to (and I say seem because I've only seen them operate at a distance not actually operate) really genuinely care about every client, like they are all on the same team.

I genuinely think this company could be a big player within the global logistics community within the next 10 years.

It really is up to them if there share price goes up from here - they are not going to split the shares.

Is it worth 20 plus bucks a share?

Sure, if you believe the company is on an every increasing arc of successfulness.

But if your like me you'll wait for that nervous investor who sells out, that big overseas institution who decides to leave NZ. 

The price then drops then your in like a robbers dog if this company has been on your radar for some time.

Your welcome.


Mainfreight @ Shareinvestor


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c Share Investor 2011-2017