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TRS - THE REJECT SHOP LIMITED


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  • 1 month later...
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half year result today

NPAT of $10.2 mio up 18.1%

ROE>30

 

this company impresses me more than any other. it's dead boring .. they open more stores and make more money. it's like a mini Wal-Mart. since it has listed, the share price has compounded faster than that of BHP, WPL and OXR .. and nary a peep from anyone about it.

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  • 2 months later...

13.50 now http://www.sharescene.com/html/emoticons/smile.gif. A bit of a spike upwards yesterday and today, anyone got any news on it?

I got in at around 11, wishinng I got in when I first heard of it mid last year.

 

Makes for a pretty picture though..

 

post-16-1178069438.jpg

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QUOTE (rossw @ Wednesday 02/05/07 11:30am)

Really odd stock ..... watched it back when it was mid $10 and thought it might stall at $11 .... finally couldn't resist it and bought a few at 12.85 a few days ago !!!

And still it marches on http://www.sharescene.com/html/emoticons/lmaosmiley.gif

Where will it level off http://www.sharescene.com/html/emoticons/icon14.gif

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http://www.theaustralian.news.com.au/busin...412-643,00.html

 

the collapse of its main competitor is good news.

 

TRS made a decision last year to leverage their balance sheet some more by taking on more debt and paying out 75% of NPAT as dividends.

this is the wrong thing to do when banks are getting bloody minded. they need to adapt to changing credit conditions and reverse this decision and retain a greater percentage of profit to fund expansion.

 

the safety of an unleveraged balance sheet is paramount in this banking climate.

 

the company has a high ROE and they should be retaining profit and compounding it at a high rate of return.

 

if they find they have too much cash, then a buy-back while the share price is relatively low is the best way forward.

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