Can I just refocus the thread a little back to funymentals.....
TGR trades in a duopoly with significant assets and barriers to entry which protect those assets from being duplicated
Operating earnings in EBIT were up pcp 2.3%...but offset by higher (non cash depreciation) and interest bill.....not paying the divy will reverse that.
TGR trades at an undemanding PE 8....and they are more and more resembling 'real earnings' in pure cashflow rather than 'bigger fish' (for example)
The significant growth that will happen next year and year on year, is now down to very few question marks......
The hard thing was to grow the domestic market and the brands (demand side).....TGR through great near term expense has don that better than projected....
The easy thing will be to low costs per fish gram (supply side)......all those investments have been now made......that is, previous shareholders funded that....and management is reporting imminent improvements
I'm so relieved I was not forced to sell something that is so easy as A,B,C.....and I urge anyone to sell out more, as I now have some spare funds to scoop up some more honey
TGR Price at posting:
$1.68 Sentiment: None Disclosure: Held
