Sure do. It is $60k now. Good accretion from the Jan lows. But is only really 1.66% of the portfolio so is not front of mind.
You are still hanged up on CKF debt...I'm Expecting softer dividends to strengthen the balancehseet as a way forward. 3.1% is way too high when the hospitality average is 2.2%.
It is good to note that the CKF debt trend is down. Peak CKF debt was FEB 2020 at $321.70m. By Oct 2022 that is down to $283.73m. I'm expecting even lower debt come financial year ended 30 April 2023 (FY23) on Tuesday, 27 June 2023.
As for your last questions... debt is only really a problem if you can't service it. CKF's debt is well covered by operating cash flow (54%). A lot of people will need to stop eating fried chicken (in Japan. Thailand, Australia, Germany and Netherlands) for CKF to not service its debt.
Shorts will need to focus more on the Taco Bell sentiment instead of CKF debt. They may have more success that way. I also need the SP driven down a bit because CKF really needs to be a larger portion of the portfolio.
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Good accretion from the Jan lows. But is only really 1.66% of the portfolio so is not front of mind.
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