Pharmazen

[lorraina]

The first six months of the year are typically the most challenging and this year was made
particularly difficult with supply issues for our krill extraction business as a result of our krill
supply partner's delays with their new boat. The fact that sales are up with the extraction plant
that produces the krill products operating at very low levels reflects the strength of our other
ranges.
Outlook
The increase in capacity the company has put in place and the continuing strong demand we are seeing
from our customers puts the company in a great position to achieve increased sales and profitability in
the second half and into the next financial year and beyond. Ken Fergus commented that "Our challenges
are around maintaining our high standards of product quality and carefully managing capex as we get
Tawhiri rolling. We are very excited by the potential of the new opportunities we see in our markets and
are confident that we have the right people and processes in place to benefit from these new
opportunities".

[Breezy]

Still quite some time away from getting any sp traction as no real interest from punters at this point.

[lorraina]

PAZ had delay after delay building their new factory.
Pity their Kril supplier had even more delays getting their new ship built.
In the meantime their other plant has to carry the business.
No news about their new product launches.Perhaps an update in a couple of months would be warranted.

[Minimoke]

The first six months of the year are typically the most challenging and this year was made
particularly difficult with supply issues for our krill extraction business as a result of our krill
supply partner's delays with their new boat. The fact that sales are up with the extraction plant
that produces the krill products operating at very low levels reflects the strength of our other
ranges.
Outlook
The increase in capacity the company has put in place and the continuing strong demand we are seeing
from our customers puts the company in a great position to achieve increased sales and profitability in
the second half and into the next financial year and beyond. Ken Fergus commented that "Our challenges
are around maintaining our high standards of product quality and carefully managing capex as we get
Tawhiri rolling. We are very excited by the potential of the new opportunities we see in our markets and
are confident that we have the right people and processes in place to benefit from these new
opportunities".

Still in a bit of a holding pattern at the moment. Problem with Kril vessel is well known. 

But once this thing starts firing on all 8 cylinders it will be all go.

[Breezy]

Still in a bit of a holding pattern at the moment. Problem with Kril vessel is well known. 

But once this thing starts firing on all 8 cylinders it will be all go.

OK its a V8 and here is me thinking it was only a 4 cylinder model, happy to be corrected.

[Minimoke]

OK its a V8 and here is me thinking it was only a 4 cylinder model, happy to be corrected.

Its got 4 cylinders at its Heathcote site and another 4 out in Rolleston. (with the ability to stick a turbo charger on Rolleston at some point)

[Basil]

https://prod-trade.usx.co.nz/api/file/66be6f290c033b1c231d90cf.pdf
EBITDA of $620K  Doesn't sound too bad but what they don't tell you is this.
Last year, (straight out of 2023 financial statements), interest was $1.6m and depreciation was $3.037m
A straight extrapolation of that and halving it suggests approximate Interest of $800K and Depreciation of $1.5m this half.
Take those off EBITDA and that suggests a Net Loss of approx $1.68m for the half year

VERY LONG road ahead before, (if it ever achieves that), this gets back to the profitability enjoyed before Covid in 2020  EBITDA of $6.7m and Net profit after all expenses of $5.2m  file:///C:/Users/user/Downloads/664fccc2122d5d9abc615645_FY20-PharmaZen-Annual-Report-Final%20(1).pdf

I keep a watching brief, but sorry, I still see no good reason to buy back in and still think this is highly speculative and unlikely to turn a reasonable sized profit in the foreseeable future.  The share price used to be, (past tense), supported by real earnings and that, in my opinion made it investable, but now all that's supporting it is the hope that things will improve.  Sure...production will ramp up in the future but so will processing costs, human resource and marketing costs, insurance, rates and so on...

[Breezy]

https://prod-trade.usx.co.nz/api/file/66be6f290c033b1c231d90cf.pdf
EBITDA of $620K  Doesn't sound too bad but what they don't tell you is this.
Last year, (straight out of 2023 financial statements), interest was $1.6m and depreciation was $3.037m
A straight extrapolation of that and halving it suggests approximate Interest of $800K and Depreciation of $1.5m this half.
Take those off EBITDA and that suggests a Net Loss of approx $1.68m for the half year

VERY LONG road ahead before, (if it ever achieves that), this gets back to the profitability enjoyed before Covid in 2020  EBITDA of $6.7m and Net profit after all expenses of $5.2m  file:///C:/Users/user/Downloads/664fccc2122d5d9abc615645_FY20-PharmaZen-Annual-Report-Final%20(1).pdf

I see no good reason to buy back in and still think this is highly speculative and unlikely to turn a reasonable profit in the foreseeable future.  The share price used to be, (past tense), supported by real earnings and that, in my opinion made it investable, but now all that's supporting it is the hope that things will improve.  Sure...production will ramp up in the future but so will processing costs, human resource and marketing costs, insurance, rates and so on...

Yes a long road but definitely not highly speculative, its a long term well established business thats sells products which are essential for other companies to survive. Add to that the fact that directors have major skin in the game and of course they are not alone. Cast your mind back to a certain company that sells cars that was a total right off and the biggest dog on the block in your own words, things change although often not as quickly as we would like.

[Basil]

To be fair, Turners was always making a profit. Tina has been a game changer.
I hope PAZ finds a game changer somewhere in its portfolio of products.   Maybe the new pet treats? Good luck with it mate.

[Nizzy]

Since 1 January 2024 a tiny $36,000 of PAZ shares have traded on USX. The very definition of a non-liquid market, lacking any depth at all. Couple that with the near total lack of communication/updates from PAZ and there is simply no reason for a new investor to join this party and ample reason to avoid it. Not good for those holding PAZ.           

[Basil]

Since 1 January 2024 a tiny $36,000 of PAZ shares have traded on USX.

That is the worst case of illiquidity I can ever recall for any 'listed" entity. 

[lorraina]

PAZ are having a 30% off Black Friday promotion for their AiOra products.
www.aioranz.com

[Kaycee]

Bit of news:  https://www.beehive.govt.nz/release/squeezing-more-bang-buck-blackcurrants

[Doozer]

Looks good. Not so good is rumours of redundancies?

[Monty]

Waiting for something to come out from the new Chairman.  Terrible reporting as usual.  Suspect it is another case of not much good news to report so have to construct a careful veiled report with little substance

Redundancies???.....never a good sign