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


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Download WHS company reports

Shop online at The Warehouse


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c Share Investor 2010

Sky City Entertainment Group Ltd: Download full Company Analysis

Sky City Entertainment Group Ltd [SKC.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 SKC 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 SKC shares in the Share Investor Portfolio


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c Share Investor 2010

Sky City 2010 full year profit looking good

Come late August 2010, Sky City Entertainment Group [SKC.NZ] look set to announce a record profit of between $126-132 million and that has been forecast by SKC management itself.

I think they could well surprise on the upside though.

This is why.

In addition to the continued cost savings through paying down debt and other business costs there will be $60-70 million from the proceeds of the sale of their cinema business which will be an approximate $10 million straight to the bottom-line. This would already be accounted for but the contribution to the 2010 full year is unclear because there is additional disposal of associated cinema assets that may not be sold before the June 30 financial year end.

One big determinant for the full year profit figure will be the Australian/Kiwi dollar cross. Back in August 2009 the Kiwi was buying over 81c Australian and over the last half has been trading well below 80c. Its Australian casino assets in Darwin and Adelaide have been trading well and the currency swap from revenue exported to head office in Auckland should give a good boost.

A solid 2010 result will continue a good run for SKC since its $NZ115 million 2009 full year result and will mean an increased dividend of at least 7.5c on the 6.5 paid out last year.

Sky City Entertainment shares have been savaged over the last few weeks dropping from a range trading between $3.25- $3.30 to trade last today up 4c to $3.04.





Disclosure: I own SKC shares in the Share Investor Portfolio


Share Investor Interview

Share Investor Interview: Sky City CEO, Nigel Morrison - November 2009
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Sky City Entertainment 2008 Full Year profit results , NZX release, 2008 full year presentation, result briefing webcast, financial statements
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Discuss SKC @ Share Investor Forum
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Buy new: $14.95 / Used from: $6.99
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c Share Investor 2010

Finger Lick'n Good Management

Russel Creedy, CEO of Restaurant Brands Ltd [RBD.NZ] wouldn't give me an interview even though I probably know more about his company than anyone else but him but he did speak to the NZ Herald over the last week.

"There were some long-service people of 20 years plus who left, but the business needed that to change, and there's still some long servers left but they're the ones who were able to adjust and adapt."

A layer of managers between the chief executive and store managers was cut, Restaurant Brands quit making its own television adverts and supply agreements were renegotiated.
Most importantly, the emphasis on the company's star brand, KFC, was intensified.

"Change is necessary, you don't always know the true path or know 100 per cent where you're going to end up, but you've got to back yourself. It's not wild wild west stuff, you just talk to people, be open to change and ideas and bloody act.

"Procrastination will kill any business, no matter how good it is."

And there's more to come, with the company looking for a trade buyer for its 41 Starbucks stores - worth an estimated $10 million to $20 million - and the progressive sale of some of its 91 Pizza Huts to owner-operators. NZ Herald
I have been super critical of RBD and its management over the years (see links below and this Google search)) and skeptical of Russel's tenure over his last 3 years as CEO but I have to give him his dues.

Russel has done everything that I have been talking about for the last 13 years since the company listed to turn RBD around and it has worked.

Focusing on service and cleanliness, cutting costs and middle management and selling parts of the business that were losing money - Starbucks and Pizza Hut.

Creedy focused on the star performer, KFC, and has managed to grow sales to record numbers (if inflation is discounted since its record listed sales in the 1990s).

Profit is also near record levels if you ignore inflation again - I don't.

Previous management were focused on growing the company at all costs but Creedy has put the service and focus back in fast food and reaped the rewards.

This has had the effect of boosting the share price to above the 1997 listing price of $2.20 for the third time in 13 years.

Russsel has been the man at the right time for RBD and he has put in place all that the company needs for a sustainable and balanced business in terms of profit, something that RBD has never seen before. That must be tempered by the fact that he has just about wrung the maximum drop of extra profit out of KFC and the recession is helping his cause.

What he has done though is allowed the company to be able to trade well through the good and bad times and as the fast food sector is a fickle cyclical beast he has obviously put this at the top of his agenda and RBD, in the future just KFC, is in good health no matter what you think of the food they sell.

I only wish Mr Creedy would talk to me.


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Discuss RBD @ Share Investor Forum



c Share Investor 2010