Ann: FY21 Trading Update & Earnings Guidance, page-11

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Chris60

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01/09/21

22:26

Post #: 55764329
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Originally posted by Hopeful9: ↑

A comprehensive update that varies markedly by region.

UMG cannot control politicians in Australia fearful of 'opening up' despite the excellent, positive report by Andrew Mohl in 'AFR' this afternoon online regarding how few fully vaccinated NSW individuals are catching COVID-19.

This buttresses NSW Premier Gladys Berejiklian's intellectual and practical case for fewer restrictions on our social and economic lives.

Unfortunately the five other Premiers (of whom the three Labor ones in Vic, WA and Qld are worst, followed by 'Labor lite' Marshall in SA and a gap to Gutwein in Tassie) have other ideas.

The $16 million bad debt from a 'longstanding Asian customer' is substantial.

It may raise a question over UMG's credit facilities and risk assessment rpocedures, although if they'd been a client for many years, some laxity may have crept in with an internal UMG view that 'they'll pay, just as they always have i9n the past - they're just a bit slow this time, which we ascribe to COVID-19'. Hmmm.

Otherwise, it's a reasonable result, with pleasing comments re the USA and to a slightly lesser extent the UK.

I can't see global sea container shipping rates declining soon, and there's also port congestion creating delivery delays to contend with.

Sounds like good news for part owner of UMG, GNC, on the barley purchasing front, as it may also be for unlisted CBH in 'Mad Mark' McGowan's hermit kingdom of Western Australia.

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the mood seems muted re UMG - not one recent Buy sentiment all Holds. if your going to Buy best now while there is uncertainty rather than in 12-24months when things should be returning to a new subdued normality.

UMG Price at posting: $4.40 Sentiment: Buy Disclosure: Held
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Ann: FY21 Trading Update & Earnings Guidance, page-11

Top Stories

Neurotech knocked back by FDA as agency declares target condition not rare enough for special status

Week 40 Wrap: China's nonsensical stimmy hype wanes (shocking!); HotCopper's picks; oil & inflation

Actinogen Medical ramps up Alzheimer’s treatment trials, targeting fast-track global approvals

BCI reaches close of funding facility for salt-first part of Mardie project

Coda Minerals (ASX:COD) enters rights issue to further exploration in South Australia

Cokal upgrades infrastructure for BBM ramp-up in Indonesia

Buxton projects new graphite province discovery at WA Narryer play

Solstice Minerals to ramp up drilling campaign at Yarri Gold Project

Recce eyes Indonesia for novel anti-infective as Indo-Aus ties grow stronger

White Cliff jumps 24% on 'bonanza grade' copper rock chips at Rae project, Canada

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