Recent Posts

71

Shares / Re: FFI

« Last post by galumay on August 30, 2022, 09:46:39 AM »

Full year continued the very difficult business conditions for FFI, now no final divvy this year and a huge drop in profit. I am comfortable they will weather the storm and there will be a reversion to mean in business conditions. Just have to be patient. Once again, a lovely, clean report, no photos no bullshit earnings, just the financials and some brief commentary.

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72

Shares / Re: EMB

« Last post by galumay on August 30, 2022, 07:55:49 AM »

$EMB reported yesterday, a tough year for this odd little business, I just love the lack of bullshit with their reporting, prelim annual report is basically the financials & 1 paragraph of commentary! No pics.(10 pages total!) The debt is now the issue for me, need to see them removing it as soon as conditions normalise, even at the expense of some of the divvy IMO.

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73

Shares / Re: AFL

« Last post by galumay on August 30, 2022, 07:47:12 AM »

FY2022 results for AFL show a small trend towards profitability, the accounting gymnastics continue with a ridiculous amount of waffle about their bullshit earnings. As I said last time, it would be much better if they just presented the financials without any 'adjustments' and concentrated on getting the business profitable. Anyway, I will continue to retain my small, low conviction position for now!

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74

Shares / Re: KSL

« Last post by galumay on August 29, 2022, 11:06:04 AM »

2nd HY 2022

A satisfactory result, steady as she goes, in the right direction.

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75

Shares / Re: Investment Wisdom from Others

« Last post by galumay on August 29, 2022, 11:00:50 AM »

short & Succinct!

https://novelinvestor.com/skill-vs-luck-failing-to-lose/

76

Shares / Re: SDI

« Last post by galumay on August 29, 2022, 07:56:00 AM »

SDI FY 2022 results out and my commentary for the first half is basically my thoughts on the full year! Interesting that although they increased the divvy this year its still only just over 50% payout ratio.

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77

Shares / Re: GLB

« Last post by galumay on August 29, 2022, 07:52:30 AM »

GLB results for 2022 released, not surprisingly the incredible positive impacts on the business from Covid have dissipated and there is a fair reversion to the mean! Will be interesting to see how the SP holds, they did maintain the divvy at the same rate.

As explained in the annual report, as well as the expected downturn, other factors impacted cash flow and earnings, including inventory build, property purchase and extra tax liabilities. The outlook from the board was muted, clearly expecting continued headwinds in the short term and telegraphing a likely drop in dividends for 2023.

When looking thru the last 3 or 4 years of results its clear there is still a fair growth pathway allowing for the aberration of 2021, I am sure the market will react negatively, but I am happy to continue to be the part owner of what I consider a good little business.

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78

Shares / Re: LBL

« Last post by galumay on August 25, 2022, 05:43:31 PM »

FY 2022 results for LBL released, definitely my biggest surprise of the season, did not expect such a strong result from them given just how much the business had been impacted by the usual suspects. One of my largest positions, so all the more pleasing.

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79

Shares / Re: AMO

« Last post by galumay on August 25, 2022, 11:01:56 AM »

A reasonably solid year for AMO, slight drop in revenue, earnings also impacted by increased tax liability, divvy essentially same as last year, havent gone thru in detail yet.

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80

Shares / Re: SND

« Last post by galumay on August 25, 2022, 10:51:46 AM »

Terrific result for $SND for FY2022, plus a special divvy!. (which is not that impressive because its 1c + 1c special and last year it was 1.8c anyway!)

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