Schaffer FY2017 – Howe firing …

For my original post on Schaffer Corporation, see here. I wanted to wait until the annual report was out before commenting on the FY2017 results. The segment information contains a bit more granular detail than compared to the summary financial report. Anyway, here is my take on the results for the various divisions: Howe LeatherRead More

More on Charlie

I wanted to follow up on the “Art of picking stock picking by Charles Munger” article I wrote with two examples of stock trades that epitomise Charlie’s stock picking methods. Charlie Munger believes that you’ll only find a few great opportunities in life so when you come across them you have to act aggressively. Therefore,Read More

NZME – Disappointing HY17 result

Disappointing results The results release by NZME for the HY2017 was rather disappointing. A combination of the overall weak advertising market and poor execution were factors that contributed to this result. There were some positive things that came out of the presentation and earnings call. I’ll summarise the key pluses and minuses below: Positives DigitalRead More

REX – Sweet sweet dividend

The long wait for this dividend will make it extra sweet for long suffering shareholders. I think the real positive from this dividend is the signal that it sends. Given management’s conservative nature and for them to pay out nearly 87% of FY2017 net profit after tax as dividend (10 cents), they must believe thatRead More