MHJ - Michael Hill International

[Ferg]

So what is the view here?  Is MHJ a dividend trap?  Or an awesome opportunity?

The elephant in the room is the engineered recession.....I previously went on record saying there won't be one, but I'm now thinking one cannot be avoided due to the single-mindedness of one RB Governor.....

Is MHJ growing stores and sales much like HLG?  i.e. organically without debt rather than a hiss and roar like they previously did with shoes?  And are we happy with the cash flows?

[Waltzing]

Amazing the market still does not want the stock.. but AUSSI banks got wood shed'd as well as punters dumped the banks...

thinking that the HUGE recession coming mean lower Bank DIV's...

be funny if HLG and MHJ and keep them going...

The banks are turning into a trade..

[winner (n)]

Action at last ..an acquisition

They proudly say it's going to be eps accretive immediately ......what a nonsense statement ...of course if profitable it's going to EPS accretive,

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/MHJ/410165/392879.pdf

[Waltzing]

 Highlights
• Acquisition of the business and selected assets1 of Bevilles
• ~$45 million Net Enterprise Value2
, representing 5.6x expected adjusted FY23E underlying
EBITDA3
• Complementary strategic fit for Michael Hill
• Expected to be immediately EPS accretive
• Meaningful EBITDA enhancement and growth opportunities readily achievable
• Substantial store roll-out opportunity in short and medium term

Aus market seems to like it so far... Shut down the non performing NZ stores? and stick with the Kanga's?

Amazed they have been even able to operate profitably in AUS... well and now they are expanding.  Buying the EPS though not really a bargain.. All that investor profit not distributed yet... better increase the DIV then by a fare bit...

[winner (n)]

Hey Waltz ....hope you weren't down at the mall this arvo when Michael Hill was done over
Dangerous place

[Waltzing]

3 hour weight training session... but my PT gets it done in 1 Hr....

The garmin 6 fenix is on sales at T7 this year for half price.....

The new method of getting goods is  something to do with the new enlightened education system one supposes....

[Clearasmud]

Hey Waltz ....hope you weren't down at the mall this arvo when Michael Hill was done over
Dangerous place

Gonna have to beef up mall security.

[Waltzing]

 Yep ... but those big barns need people they got a big problem..

[Hectorplains]

Gonna have to beef up mall security.

  Another one today. Hamilton store too. 

[Clearasmud]

When is it going to end.

[Waltzing]

blame call of duty....

someone wrote over the weekend if NZ needed an army....

well it appears to have a young group of budding SAS cadets that havnt signed up yet...

lets send them off to a wagner training camp and the horror of it should boot camp them back into shape...

second thoughts they might not come back alive ...

[Waltzing]

Winner has done the numbers and they have paid sugar sky high price but some tink this thing is going to be a W.......

lets hopee so... could be a big buy in 12 months after they close more NZ stores after all with this new bolt on do they need NZ in the long run...

 bit of HOPEUM here ... anyone know how that is spelt..

[Waltzing]

news flash ... Michael Hill's total group sales for FY23 year to date2
are up 5.5%.

was hoping for a complete melt down ... price in the 70's and then... end of the winter weather in 2024 - 25 and a bounce back to 1.70..

pass the TUI..

[Cod]

You cannot view this attachment.
Current State of play on MHJ.

[winner (n)]

Cod ... I take it is a bad sign if price breaks down under 87 on your chart?