re: Ann: Ceasing to be a substantial holder f...
Hi Legume, MCP certainly has been range bound for the last 6 months. My feeling is that the retail market is flat; comments being made interest rates may even come down later in the year and Myers profit downgrade. We have not heard anything from the board, which I assume means that they continue to trade within expectations. IMHO a lot of their products are 'basics' that will not be affected by the poor market conditions. They should not have the same problems as Pacific Brands, losing business to own brands imported from China and squeezing of their margins. The strong Aussie dollar should feed through to improved margins for MCP, so
I am expecting good results in August. I noticed a director was buying a couple months ago which is always a good sign; they never part with their money unless there is a guaranteed return!
Could the share price move up to the $6 seen in 2005. TFP
MCP Price at posting:
$3.13 Sentiment: LT Buy Disclosure: Held
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