StockTalk

Quote from: LoungeLizard on Aug 26, 2026, 01:27 PMThe building and manufacturing industries are in decline - lot's of layoffs and bankruptcies.

It's margins and profits that are important - not total revenue. It's just very hard for an outfit like STU to cover its increasing cost base, hence the sell-off.

I fear that it is in terminal decline and may go the way of Metro Performance Glass.

Not positive, but you well might be right.

The "Going Concern" part of the report is quite long and referring to a lot of things nobody knows and assumptions which may or may not come true. Auditors referring to that as well: "Material uncertainty related to going concern".

I guess the SP is sort of a hint - looks less like an investment these days and more like speculation.

Quote from: winner (n) on Aug 26, 2026, 11:03 AMIndustry trends are having an impact but STU isn't even keeping up with these trends ... like sales decline more than industry decline etc

Recent acquisitions show 0verall revenues are increasing but underlying business a disaster

And as shareguy implies selling off a few business units really only shows how stuffed they are

The building and manufacturing industries are in decline - lot's of layoffs and bankruptcies.

It's margins and profits that are important - not total revenue. It's just very hard for an outfit like STU to cover its increasing cost base, hence the sell-off.

I fear that it is in terminal decline and may go the way of Metro Performance Glass.

Whay would anyone want to be an investor in a company with that sort of attitude from the major shareholder?

The departures of Winton's chairman and another director follow the resignation of the company's chief executive and earlier chair.

The chairman of property development company Winton, Steven Joyce, and another director, Guy Fergusson, have today resigned, citing a "fundamental misalignment" with majority shareholder and former CEO Chris Meehan.

"Over recent months, it has become clear to us that there is a fundamental misalignment of expectations between ourselves and the company's majority shareholder with regards to matters relating to corporate governance," Joyce and fellow director Guy Fergusson said in a statement today.

"In an attempt to address this issue, amendments to the company's constitution were proposed to the majority shareholder to provide minority shareholders with a direct say in board representation and provide a mechanism for independent advocacy for the interests of the company and all its shareholders.

"The proposed amendments were not supported by the majority shareholder."

Quote from: Arbroath on Aug 25, 2026, 05:28 PMI'm a holder but would place no value on the Fletcher lawsuit.

There's plenty of value in the balance sheet but with such a poor recent trading history and share price I'd say a $1.00-1.20 bid would wrap this up...

Totally the 70/ 75 cents offer was a joke & the board obviously did not take it seriously.
But even the $1.20 would be a bargain price ,as once they can  get  that debt down it will be happy days again

Mmh - so they shrinking themselves into shape. Good for people who had too much weight, but was this really true for STU?

Actually - revenue is a bit higher than analysts expected (which may or may not be good), but earnings loss is significant higher. Analysts expected 12 cents loss per share, but they turned that into 33.3 cents loss per share, and sure - revaluing their bookvlues was part of that.

Hey, 33.3 cents loss per share, this is amazing, just wondering why you need to read the fianncials to find that out. They should put that as top liner on their annual statements: "Highest loss ever" maybe coupled with one of these amazing staff photos with staff digging a really deep hole?!

Interesting to read their future statement.

So - what does

"Highly leveraged for domestic market recovery, timing and pace remains uncertain"

really mean?

Does this mean they have lots of debts and not sure, whether the market recovery or the debt collectors might come first?

But hey, not sure about the election uncertainty they talk about. I guess - sure, Labour had 6 years to turn things bad - and National made it in just 3 years still worse. So? Where is the uncertainty? We know exactly whats going to happen in the next term even if we don't know whether it is Labour or National doing it - don't we?

But hey, they said somewhere that one can see the early start of an improvment - so, just lets hope for somebody else to take over the country and lets be positive ...

The Board of Winton Land Limited advises that Steven Joyce and Guy Fergusson have both resigned as independent directors of the Company, effective 31 August 2026.
 
 Mr Joyce is also resigning as Chair of the Board, and Mr Fergusson will cease to be the Chair of the Audit and Financial Risk Committee.


Dunno if you could find a biggger redder flag

Quote from: LoungeLizard on Aug 26, 2026, 09:52 AMSteel and Tube are the canary in the coal-mine. Their decline reflects the decline of NZ's building industry generally and a prolonged lack of Government investment in infrastructure. There is no "recovery" on the horizon for STU as far as I can tell, unless we get a Government that is willing to spend to promote recovery.

Industry trends are having an impact but STU isn't even keeping up with these trends ... like sales decline more than industry decline etc

Recent acquisitions show 0verall revenues are increasing but underlying business a disaster

And as shareguy implies selling off a few business units really only shows how stuffed they are

Steel and Tube are the canary in the coal-mine. Their decline reflects the decline of NZ's building industry generally and a prolonged lack of Government investment in infrastructure. There is no "recovery" on the horizon for STU as far as I can tell, unless we get a Government that is willing to spend to promote recovery.

Shocked there is no cap raise announced tbh.