Great analysis on GM and costs in this thread, thank you!
A couple of additions from me:
Their July 2023 trading update looks weak on the face of it at -8% vs July 2022; however, it is just that July 2022 was a very strong month (it was 60% above July 2019). Between July 2022 and Dec 2022 things started getting weaker, so as we move through this half the comps are going to get easier - on my calculations if June/July trade continues like this, comps will turn positive by the AGM trading update (from base effects)
They should be able to hold onto a lot of their GM% gains
- Shipping rates are back to pre-COVID levels, and current trade and deflation out of Asia points to dynamics which will keep a lid on shipping rates for the foreseeable future
- Input cost reductions from scale benefits now that their putting in orders with both Nick Scali and Plush volumes combined
Ann: Full Year Results Announcement NCK, page-20
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$13.23 |
Change
-0.080(0.60%) |
Mkt cap ! $1.127B | |||
| Open | High | Low | Value | Volume |
| $13.31 | $13.38 | $13.19 | $2.539M | 191.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 75 | $13.22 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $13.23 | 2008 | 1 |
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