HLG - Hallenstein Glassons Holdings

[winner (n)]

Basil ...solid sales, things like fox and freight easing .....probably redo his numbers and maybe increase forecast profit to $50m

Peter - sees it as profit warning

Peter did mention confirmation bias lol

[Waltzing]

BP NZD moving up and CPI figures abating in the US with only OIL being the big bear in the room...

Are you a holder here?

the chart looks good and the DIV will be sustained as this little corner store has the most outstanding Dividend performance of ANY NZX company.

This stock not only has history it is HISTORY in the making...

Look like shes heading for 6.30 maybe not this year but over time.. shes undervalued even if she hits some dumps in the road...

[Basil]

Very impressed with the presentations by Stuart Duncan and James Glasson in particular.
Very well positioned for growth.
Some comments from the annual meeting.
Stuart
Freight cost improving but a long way to go.
Brands much stronger than ever going forward.
Growth in N.Z. this year and especially Aust
Glasson App downloads now over one million !
Hallensteins investment in digital paying dividends
Business is in great shape for the future

James
We've been through the most challenging environment last year ever seen
Exciting opportunities ahead
More resource being allocated to logistics to improve product speed to market and costs
Diversifying suppliers to drive more efficiency, potential significant upside on margin and lead time
Steady strategy to store expansion and refurbishment

Hallensteins 150 years old next year, Glassons 97 years...what an amazing history.

I think the business is very well positioned for growth.  I'm leaving my forecast, previously articulated in significant detail, unchanged.

Enjoy your dividend tomorrow fellow shareholders.  We are invested in a wonderfully managed company with a fabulous heritage, a very strong balance sheet, that's trading very well this year and I am confident we have a very long runway of growth ahead in Australia.
My opinion is there is no more compelling investment case on the NZX than HLG.  My #1 investment position.

[Basil]

Next weeks announcement-

'The first 19 weeks of the new financial year have seen Group sales up 39.24% on the prior year'

That's about $40m more sales than prior year (in 19 weeks) and that's probably about $18m profit before tax - all in 19 weeks

And chart looking good

Next week going to be exciting

Posted December 10.  You're a legend mate.  I was thinking 35-40% but you were definitely closest to the mark.  Well done !

[Waltzing]

"Glasson App downloads now over one million"

https://www.youtube.com/watch?v=iaepXy7gv2w

well not quite... but

[LoungeLizard]

Hats off to those that predicted the result and acted accordingly - who dares wins eh?

It's certainly very impressive how HLG have managed to come through one of the most testing times in retail history and kept its profitability, margins and dividends intact. Bodes very well for the future I would say.

And to think we get a 24c divvy paid tomorrow and very likley at least an 18c divvy in April    

[Basil]

I am forecasting a 24 cent dividend in mid April 2023, up from 18 cps last year.   (Could be even more).  Let's see how we go with that prediction.
What to spend tomorrow's dividend on ?  Hmmm

[LoungeLizard]

I am forecasting a 24 cent dividend in mid April 2023, up from 18 cps last year.   (Could be even more).  Let's see how we go with that prediction.
What to spend tomorrow's dividend on ?  Hmmm

I do hope you're right on that one as well Basil. I'v backed the truck up on HLG and very glad I did!

[Basil]

I do hope you're right on that one as well Basil. I'v backed the truck up on HLG and very glad I did!

Did you watch the annual meeting ?
I thought the overall tone of the meeting was very positive and confident.
"Well positioned" is an overused phrase but is very apt for this company and I find myself also very well positioned with the size of my shareholding    

[LoungeLizard]

Yes, I did, and I thought the tone of the meeting was one of cautious optimism, which is about right and exactly what you would expect from HLG management.
I would like to see HLG NZ pick themselves up a bit more, but as noted they've had more trading disruptions than Australia. If the first 19 weeks of trading are anything to go by it should be a much better result for both. It will be interesting to see how xmas and New year trading goes - despite the gloom and doom there's evidence that people are dusting off their credit cards again.

[Clearasmud]

I am forecasting a 24 cent dividend in mid April 2023, up from 18 cps last year.   (Could be even more).  Let's see how we go with that prediction.
What to spend tomorrow's dividend on ?  Hmmm

I'm spending it on my oldest daughter's wedding lol.

[winner (n)]

Any decent questions asked?

[sideline]

Any decent questions asked?

I second that - in particular, did somebody ask about imputation going forward?
Will it be one divi imputed as far as credits available and the next one zero imputation
but perhaps with max franking available ??

[Basil]

Welcome to the forum sideline. Imputation was covered by me extensively in conjunction with advice from Stuart Duncan, scroll back a few pages.  Credit for tax paid in Australia cannot be passed through to HLG shareholders at this stage.  In the long run as growth continues in Australia it would not surprise me if they sought a dual listing so that franking credits could be passed through to Australian shareholders.  I think this is not one of their near term priorities. 

Questions at the annual meeting Winner.  Nothing much, surprised you didn't tune in.

[winner (n)]

Welcome to the forum sideline. Imputation was covered by me extensively in conjunction with advice from Stuart Duncan, scroll back a few pages.  Credit for tax paid in Australia cannot be passed through to HLG shareholders at this stage.  In the long run as growth continues in Australia it would not surprise me if they sought a dual listing so that franking credits could be passed through to Australian shareholders.  I think this is not one of their near term priorities. 

Questions at the annual meeting Winner.  Nothing much, surprised you didn't tune in.

Mike insisted on walkies