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SKL, SKELLERUP HOLDINGS LIMITED
ShareScene.com
post Posted: Feb 3 2009, 10:00 AM
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Company:
SKELLERUP HOLDINGS LIMITED

Code:
SKL

Website
http://www.skellerupholdings.co.nz/


 
Lizard
post Posted: Oct 29 2008, 02:08 PM
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Well, since my last post, I am very happy to say the NZX have now turned over a new leaf and can download the presentations and reports from their site as they come in...

Today was SKL agm and they reconfirmed guidance for $13.4m NPAT. This is better growth than it appears, since divestment of profitable businesses was made close to year end in prior year. At 80cps, it is also on a P/E of 8.5 (historical) with growth outlook (unusual for now!) and gross yield of 10.7%... it's going to take a serious downturn to wipe the value here.

Despite caution around the global outlook, there were some strong positives in the presentation - personal favourite was this one:
QUOTE
We have a number of products that are quickly gaining market shares off relatively low bases


Also noted some reduction in raw material prices and the point about exchange rates being fairly neutral for them - despite the recent rapid changes.

 
Lizard
post Posted: Sep 11 2008, 05:34 PM
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Here are the more detailed accounts as NOT supplied by the NZX.

 
Lizard
post Posted: Sep 4 2008, 02:10 PM
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Result a day late, but other wise bang on forecast.

In my experience, SKL have mostly been very good in meeting

 
Lizard
post Posted: Jul 31 2008, 12:33 PM
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Nothing like posting a chart to kill off an emerging uptrend, but okay, eventually I might pick the right moment... wink.gif



 
Lizard
post Posted: May 1 2008, 10:03 AM
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Disclosure of two directors buying in April over and above their rights entitlements and at 88-89cps. That's encouraging, although director buying has always been reasonably strong in SKL.

 

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Lizard
post Posted: Apr 30 2008, 03:49 PM
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Can't resist posting another chart over here in the closet... I only like TA when I can read it in a way that validates my FA tongue.gif

Looking good if the break through 93cps resistance works out. On a longer term (3 yr) chart there is a break of down trend too and possibly throwing out a signal on the RSI if I was working off better charts.


 
Lizard
post Posted: Apr 25 2008, 04:43 PM
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A good result for sale of non-technical business by SKL announced last week. This transaction strengthens the balance sheet further, records a $2m gain on book value and appears to leave the forecast for FY2008 unchanged at $12.5m NPAT - either the date of the transaction is close to year end, or business performance has been ahead of earlier forecasts - or the businesses being sold didn't contribute much in the way of profit.

Now that the company appear to be "out of the woods" for now as far as debt risk and likely to return to paying dividends (around 5% net yield likely), there should be a chance to see a 20-30% re-rate to more "market" levels for EV/EBIT and P/E ratios.

 
Lizard
post Posted: Apr 9 2008, 08:11 AM
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At least one NZ broker appears to have changed this from "Hold" to "Accumulate" yesterday. Pushed the price up a notch and now looking at a nice "double bottom" on the charts. This one is my largest NZX holding for now, so here's hoping it's got some traction. smile.gif

 
Lizard
post Posted: Feb 22 2008, 09:48 AM
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Interim financial statements now available here.

All looks reasonably solid and pretty much as per my calcs, though interest cover is still under 3. Rights issue should be enough to fix, provided earnings remain pointing in the right direction from here. I estimate full year dividend will be around 3.5-4.5cps, although I'd almost rather they didn't pay one this year.

 
 


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