Briscoe Group Ltd: Download Full Company Analysis

Briscoe Group Ltd [BGR.NZ] financial's including a full collection of data out May 10 2010 courtesy of Aspect Huntley/ASB Securities.

This is a series I will do for the Share Investor Portfolio and other NZX listed companies.

You will find balance sheets, ratios, charts, shareholder returns, 10 year analysis, broker recommendations, substantial shareholders, commentary and company details, forecasts and all the BGR info you could need to make a decision whether to invest or not. Download the full package at Share Investor Forum - you must join to download. It is free and takes less than a minute.


Disc I own BGR shares in the Share Investor Portfolio


Share Investor Portfolio Company Analysis Series

Auckland Airport Ltd
Hallenstein Glasson Holdings Ltd
Mainfreight Ltd
Michael Hill International Ltd
Sky City Entertainment Group Ltd
The Warehouse Group Ltd
Xero Ltd*


Briscoe Group @ Share Investor

Briscoe's Cash worth looking at
Why did you buy that stock? [Briscoe Group]
Long Term View: Briscoe Group Ltd
Rod Duke's Pumpkin Patch gets bigger
Download BGR Company Reports

Discuss BGR @ Share Investor Forum - Register free



c Share Investor 2010

Mainfreight Ltd: Download Full Company Analysis

Mainfreight Ltd [MFT.NZ] financial's including a full collection of data out May 10 2010 courtesy of Aspect Huntley/ASB Securities.

This is a series I will do for the Share Investor Portfolio and other NZX listed companies.

You will find balance sheets, ratios, charts, shareholder returns, 10 year analysis, broker recommendations, substantial shareholders, commentary and company details, forecasts and all the MFT info you could need to make a decision whether to invest or not. Download the full package at Share Investor Forum - you must join to download. It is free and takes less than a minute.

Disclosure: I own MFT shares in the Share Investor Portfolio


Share Investor Portfolio Company Analysis Series

Auckland Airport Ltd
Hallenstein Glasson Holdings Ltd
Michael Hill International Ltd
Sky City Entertainment Group Ltd
The Warehouse Group Ltd
Xero Ltd*


* Not in the Share Investor Portfolio

Mainfreight @ Share Investor

Chart of the Week: Mainfreight Ltd
Long Term View: Mainfreight Ltd
Share Investor Interview: Mainfreight's MD Don Braid
Stock of the Week: Mainfreight Ltd
Questions to Mainfreight's MD Don Braid
I'm Buying: Mainfreight Management delivers the goods
Mainfreight Annual Report Packs a Punch
Analysis - Mainfreight Ltd: FY Profit to 31/03/09
Mainfreight VS KiwiRail: The Sequel
Long VS Short: Mainfreight Ltd
Why did you buy that stock? [Mainfreight Ltd]
Mainfreight 2008 Annual report worth reading
KiwiRail will cost Mainfreight
Mainfreight keeps on truckin
A rare breed
Share Investor's 2008 stock picks

Discuss MFT @ Share Investor Forum

Download Mainfreight Company Reports


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 2010

Sky City Convention Centre Expansion a Money loser

The proposal for Sky City Entertainment Group Ltd [SKC.NZ] to build an extension to its Auckland conference centre while on first look appears positive, if you look closer its validity as a revenue earner, for the centre itself and then providing extra foot traffic to the casino doesn't stack up as a good return for shareholders.

I have been googling around and this has confirmed by suspicions that the majority of convention centres just do not make money and are in fact capital losers.

"The center was promised to bring out-of-towners who stayed in hotels and spent money," said Heywood Sanders of the University of Texas at San Antonio, who studies the performance of convention centers and is a longtime critic of such publicly financed projects. "They routinely overpromise, and they never do what they're supposed to do. The question is how badly they perform. Putting in a hotel is no guarantee that it will improve the center's performance."

Washington Post: Heywood Sanders of the University of Texas at San Antonio - Researcher of Convention Centre performance.

Convention centres are generally built and run by local Governments because of the poor economic returns (it seems it is OK for them to lose money because it is only the taxpayer forking out moola) and the premise seems to be that the centre itself will not make money but that it will bring high spending convention delegates into town that would not ordinarily be there and that their largess would then be spent in businesses in the local area.

For Sky City this would hopefully mean more hotel rooms used and more money spent in its bars, restaurants and with fingers crossed its casino but this is not necessarily a given if you look at the example above and your own convention centre in your own local town or city. Sky City has a casino patronage of more than 80% locals so the convention centre crowd is unlikely to increase bums on slot machine seats.

The impact on Sky City shareholders will be felt first at the capital expenditure stage of any proposal going ahead and secondly future running costs of the larger centre. (this also appears to be where the proceeds of the sale of SKC cinema assets are going - $60-70 million worth) The extension of the Federal Street centre is a complex one with the street needing possible under-grounding and the expansion itself being suspended in open air over the street.

The success for Sky City shareholders (and when a say success I mean a decent return on investment) seems to lie in getting enough extra traffic through Sky City complex in order to get the increased revenue to justify the initial expense but as studies have found this does not usually eventuate, so the Sky City Convention Centre expansion would be an exception to the rule if it were a ripper of a money earner.

Management are clearly trying to squeeze more revenue and profit from their biggest money earner and that is admirable but expanding their convention business is not going to do that.

Best to let the willing city fathers (but unwilling and poor ratepayers may I add) spend ratepayer moola on a convention centre just around the corner and target the stragglers from there.

Read Sanders Paper - PDF


Disc I own SKC shares in the Share Investor Portfolio


Share Investor Interview

Share Investor Interview: Sky City CEO, Nigel Morrison - November 2009
Sky City Entertainment: CEO Nigel Morrison discusses 2010 Half Year

Sky City @ Share Investor

Sky City Entertainment Group Ltd: Download full Company analysis
Sky City 2010 full year profit looking good
Sky City Entertainment: CEO Nigel Morrison discusses 2010 Half Year
Sky City Entertainment Group 2010 Interim Profit Review
Are Insiders selling Sky City Stock?
Sky City Entertainment 2009 Interim Result Preamble
2008 Sky City profit analysis
Sky City share offer confusing and unfair for smaller shareholders
Sky City Entertainment 2008 Full Year profit results , NZX release, 2008 full year presentation, result briefing webcast, financial statements
Sky City 2008 profit preamble
Sky City outlines a clear future plan
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NZX Press release: Sky City profit to HY end Dec 2007
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Sky City sale could be off
Opposition to takeover
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Sky City receives takeover bid
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Setting the record straight
Sky City CEO resigns
Sky City Casino: Under performing
Sky City Casino 2007 HY Profit(analysis)
Sky City Casino 2007 HY Profit

Discuss SKC @ Share Investor Forum





c Share Investor 2010

The Warehouse Group Ltd: Download full Company Analysis

The Warehouse Group Ltd [WHS.NZ] financial's including a full collection of data out May 10 2010 courtesy of Aspect Huntley/ASB Securities.

This is a series I will do for the Share Investor Portfolio and other NZX listed companies.

You will find balance sheets, ratios, charts, shareholder returns, 10 year analysis, broker recommendations, substantial shareholders, commentary and company details, forecasts and all the WHS info you could need to make a decision whether to invest or not. Download the full package at Share Investor Forum - you must join to download. It is free and takes less than a minute.

Disclosure: I own WHS shares in the Share Investor Portfolio


Share Investor Portfolio Company Analysis Series

Auckland Airport Ltd
Hallenstein Glasson Holdings Ltd
Michael Hill International Ltd
Sky City Entertainment Group Ltd
Xero Ltd


The Warehouse Group @ Share Investor

Long Term View: The Warehouse Group Ltd
Share Investor Short: Warehouse Group yield worth a look
The Warehouse Group: 2010 Interim Profit Review
The Warehouse: Big Brands, Big Opportunities
Warehouse strike opportunity to buy
Long Term Play: The Warehouse Group
Share Investor Short: Warehouse Group yield worth a second look
Woolworths supermarket consolidation an indicator of a move on the Warehouse?
Stock of the Week: The Warehouse Group
Warehouse 2009 interim profit a key economic indicator
When will The Warehouse bidders make their move?
Long vs Short: The Warehouse Group
Warehouse bidders ready to lay money down
The Warehouse set to cut lose "extra" impediment
The Warehouse sale could hinge on "Extra" decision
The case for The Warehouse without a buyer
Foodstuffs take their foot off the gas
Woolworths seek leave to appeal to Supreme Court
Warehouse appeal decision imminent
Warehouse decision a loser for all
Warehouse Court of appeal decision in Commerce Commission's favour
MARKETWATCH: The Warehouse
The Warehouse takeover saga continues
Why did you buy that stock? [The Warehouse]
History of Warehouse takeover players suggest a long winding road
Court of Appeal delays Warehouse bid
The Warehouse set for turbulent 2008
The Warehouse Court of Appeal case lay in "Extras" hands
WHS Court of Appeal case could be dismissed next week
Commerce Commission impacts on the Warehouse bottom line
The Warehouse in play
Outcomes of Commerce Commission decision
The fight for control begins soon

Discuss WHS @ Share Investor Forum - Register free

Download WHS company reports

Shop online at The Warehouse


Recommended Amazon Reading


The Intelligent Investor: The Definitive Book on Value Investing. A Book of Practical Counsel (Revised Edition) by Benjamin Graham
Buy new: $14.95 / Used from: $7.50
Usually ships in 24 hours

Buy The Intelligent Investor & more @ Fishpond.co.nz




c Share Investor 2010