I have spoken to 2 mates of mine just today regarding retailing in QLD, one from Townsville and another from Brisbane. They have both said that their turnover has been down substantially over the last 12 months and the last 6 months has been the worst. One owns 2x Coffee Clubs and other owns a Red Rooster. They are both very jealous of CKF's results last year. Now QLD has preformed pretty bad and CKF is exposed to all of Australia (a big chunk in QLD though), but to get to the current profit figures is a great sign - in challenging conditions while also expanding overseas. 2017 was a terrible year for food spending (the coffee club mate said worst in 10+ years) and they are all very eager to see how 2018 turns out.
If i had more cash in the bank, would have topped up big time today.
CKF Price at posting:
$5.30 Sentiment: Buy Disclosure: Held
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