WHS - Warehouse Group

[winner (n)]

"Never mind all 'adjustments'and didn't show up in Adjusted NPAT so hunky dory"

uuummmm...  how does a payment not show up in a ledger... not an ACA accountant but ledgers are usually kept for payments from a bank accounts arnt they?

what were the adjustments... which page of the FA reports winner?

You should know how this done by now waltz

There is a Reported NPAT (done the proper way) but then they adjust (on paper) for all things that don't count to get an Adjusted NPAT

It is the Adjusted NPAT they headline and use as a profit measure (Nick would say this Adjusted NPAT better reflects the group performance going forward ha ha)

Fletchers are pretty good at this trick as well ...they call it Normalised Operating Profit .....and even Heartland have learnt this trick

[Waltzing]

Winner yes "adjusted"  "normalised" but where in FA was it reported..

got a touch day ahead debugging our private multi consolidated entity Journal modelling and OMC transaction processing software ...

the software to reconcile the OMC transaction mess is over 8000 lines of OOP code... Multi entity journal modelling is script model event driven and debug which event is triggering which class method is a big job...and im not the chiel head monkey.

where was it stated as would like to have a read...

which part of the FA report....  much appreciated... becuase 20 M is a huge amount..

[winner (n)]

Waltz ... in Statement of Comprehensive Income there's a line Unusual Items and then you go to Note 5 to find out what they are (2020 AR)

[winner (n)]

Waltz ..I'm glad you are compellingly evisculating ethical interfaces in your endeavours to collaboratively productivate corporate functionalities

Well done

[Waltzing]

IOMCAccount   Interface(),com
methods
                         End

the banking and broking transaction centres and databases have no GUID's or transaction Idenfication attribute fields or triggers....

and if they do exists or Did exist they are no longer exposed for third party processing.

The consultants can joy ride a system where the anti money laws are just window dressing and no automation can audit the transactions.

The NZ transaction integrity is broken and decrepit as there is no institutional knowledge on the radical huge investment that is needed to create a new high tech banking and broking system.

In short why would you keep money in the country's systems when they are broken...

[winner (n)]

Het Waltz ...maybe if WHS used Xero they would have to count everything

[Waltzing]

No Winner... thats third party..

the problem is the orgination transaction sources.. IE the Banks..

Your banking system is old and broking databases are not exposing the field data they should be. About 10 years ago they did have at least the order No in them but no transaction ID. You cant reprocess or import data without a range and those ranges are delimited by ID GUID numeric fields.

One suspects that the usual suspects have old systems created back in the 1980s and they have just keep building on the old stuff...

Broking reporting systems are all fancy graphs and the reporting files are ........

[Waltzing]

WHS suffers from bringing together 2 or 4 different platforms and then maybe getting it all talking and singing with the market...

expect the IT problem is far to big for a simple little end user accounting cloud platform built for dummies to use.

[Waltzing]

"5.0 ADJUSTED NET PROFIT
6.0 EARNINGS PER SHARE
Adjusted net profit reconciliation Note 2020 2019
$ 000 $ 000
Adjusted net profit 80,744 74,103
Add back: Unusual items
Gain on property disposals 88 11,761
Restructuring costs - Rise (22,006) (15,718)
Restructuring costs - Agile (22,189) -
Change in fair value of derivatives that are not hedge effective 13.2 (6,427) -
Brand impairment (Torpedo7) 9.2 (2,545) (5,478)
Unusual items before taxation and NZ IFRS 16 adjustments (53,079) (9,435)
Adjustments for NZ IFRS 16 (154) -
Income tax on the unusual items above 14,905 2,642
Income tax relating to building depreciation 4.1 2,025 -
Unusual items after taxation (36,303) (6,793)
Net profit from continuing operations attributable to shareholders of the parent 44,441 67,310"

ok got it ...

 RISE!!!!

what the Fxxx is that....

agile descritpion of  "show me the money!!!!!"

they had a huge amount of cash lying around and instead of giving it back to share holders they gave it to some drinking friends...

[Basil]

$20m+ spent on rise and agile and they still cannot grow profits.  Hmmm

[Waltzing]

40 million.... that gets you what ?

how many agile monkeys... swinging from the trees...

they must have created a gaint rest API by hand or something...

its 40 million in restructuring right? am i seeing things.....

did they create a new AI software platform called the market....

MS is investing 10 billion in Chat thingee.... which kind of tells me they are going to take over the internet..... 10 billion creates a whole robot platform complete with 6th generation transformer robots...

40 million gets you a lot of people working for 12 months on restructing what?

a whole new distribution network?  but thats not restructing thats capital expenditure.

well they did not drop the ball on 4 sets of sun glasses that came from 2 different locations....

but after 40 million im not surprised...

NZ post took 2 weeks to deliver... now thats a GOVT or something that does need radical structuring...





 

[Hectorplains]

My experience today with Noel Leeming might be indicative of why they're trading so poorly.  We made an order for 70 chromebooks last year with them because they said they had them in stock and that they'd be with us at the end of January.  Today we got an email saying that they did not have the stock and our order was going to be delayed (by an unspecified time.)  The excuse was that the person in charge of the order had been off work with cancer treatment.  Yes, that's sad and I do wish them every chance of recovery.  However...whoa!  Surely a large retail chain should have adequate systems and processes to cover an absent employee.  That is just basic business practice.  Noel that is a total sh**show on your behalf and that will be our last order with you.

[Basil]

Interesting feedback there Hectorplains, thanks for sharing.

[Waltzing]

Back end system stock failure.

well our little 4 sets of sun glasses for personal outdoor use T7 performed perfectly not so NZ post...

T7 has great personal but a small order of 4 was hardly likely to test the Back End.

[Hectorplains]

It feels like we've been here before.  Nick's determined in taking WHS back to the future.  That was 2006...it'll be different this time, eh.