2CC - 2 Cheap Cars Group

[Basil]

Interesting.  Pretty much TRA's goal as well.  If you can't go forward with the prevailing economic headwinds the name of the game is to not go backwards.  Many other companies on the NZX would do well to have the same goal.

[lorraina]

2CC's 8th Auckland site;

Wairau Road GRAND OPENING ⚡



Come check us out at our GRAND OPENING this weekend only — 98 Wairau Road, Wairau Valley! We've got a fleet of cool rides for you to check out, FREE sausage sizzle and HEAPS of cool prizes* to be won on our spinning wheel!



Come down and see us from 10am — 6pm, this weekend only!

[Left Field]

2CC CEO to MOVE on

https://www.nzx.com/announcements/436244

[Bev]

David Sena took over the 2CC CEO role on 1st June 2024.

[BlackPeter]

David Sena took over the 2CC CEO role on 1st June 2024.

Hmm - all in the family.

Looking into the past am I wondering what this means for minority share holders? They better hope that Davids agenda happens to be aligned with theirs ...

Anyway - 2 hot 4 me ...

[lorraina]

Ticks all the boxes for me.
Buy   $0.870         Sell   $0.890
Open   $0.870         Previous close**   $0.870
Volume   11,564         Turnover   $10,060
Day high   $0.870         Day low   $0.870
52 week high   $0.930         52 week low   $0.445
Dividend CPS   8.32         Dividend yield (Net)   9.56%
EPS   13.70         P/E ratio (Adjusted)   6.35
NTA   44.00            
Market capitalisation   $39,632,415.00

Paul Millward did a great job at 2CC.
Looked to follow him,but too much red ink at MOV for me.
I like companies such as 2CC which have no debt,modest ratios and pay great fully imputed divies.
Having the major shareholder in the driver's seat is a massive plus for me.

[lorraina]

Tougher market conditions;
We have increasing control of the value chain at our Auckland hub and some exciting property developments to be announced shortly when finalised. While it's a tough trading environment for many New Zealand businesses right now, we are working hard to ensure we deliver steady net profit after tax (NPAT)," he said.

https://www.nzx.com/announcements/436780

[LoungeLizard]

Are the wheels falling off?

[winner (n)]

Are the wheels falling off?

Bit of a shock that announcement

[winner (n)]

Wonder if insurance covers loss of profit or covers costs because of that impending land slip sliding away

[lorraina]

Are the wheels falling off?

The share price has fallen 4 cents or 4.4% so the market thinks they have.

[lorraina]

We have increasing control of the value chain at our Auckland hub and some exciting property developments to be announced shortly when finalised.

Does not indicate further downgrades to me.



ps.I have been buying today.

[lorraina]

Very modest ratios.
Little or no debt.
Latest share price $0.860    as at 11:15:40, Monday 26 August, 2024 (NZT)
Buy   $0.850         Sell   $0.880
Open   $0.880         Previous close**   $0.900
Volume   24,581         Turnover   $21,341
Day high   $0.880         Day low   $0.860
52 week high   $0.930         52 week low   $0.460
Dividend CPS   8.32         Dividend yield (Net)   9.67%
EPS   13.70         P/E ratio (Adjusted)   6.28
NTA   44.00            
Market capitalisation   $39,176,870.00

[Stockgathering]

I agree and what I also found very encouraging when I talked to David Sena (CEO) at a AGM that he seems very hardworking and passionate about the business and humble towards other shareholders.
Qualities which I like in a CEO.

[Left Field]

Company downgrades expectations.....next yrs NPAT now not expected to reach FY24 levels.

https://www.nzx.com/announcements/438294