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Hi Mike, you might be right about the inheritance. At the moment the shares I have a little in are doing exceptionally well, whilst the big investments like this one are doing poorly. Talk about the wrong way round. Fortunately the larger dividends are helping though.
Appreciate your comments, and very interesting re the indexes. The grindrod shipping price has been slowly recovering over the last few days but still well down. Such an uncertain world right now and with a likely govt change here at the next election I am trying to choose my investments even more carefully. Agreed re the early fixing of some charters, thought it was a good move when I first heard it but even more so now. I have decided to reinvest my dividend so hopefully we will not see a bounce before 11/12 when it is reinvested. Off to pack my swimming trunks !
Hi Mike, the joys of retirement ! Short six day visit to Portugal a week tomorrow to visit friends then nothing till November in South Africa. Apart from first grandchild arriving in September ! I recall Ed saying the Gindrod deal would help with winning business from the African continent but your point is well taken. Just as well given the way South Africa is sadly going.
Hi groundsander, that is very much appreciated. Took me a bit to find the wallets you refer to but all good now. Lets hope the share price will start to strengthen soon..... but after reinvestment for those going that route !
Thank you all. Does that mean in June then ? Not the ideal day for the share. Thank goodness they fixed a number of charters early at great rates. I just hope they can lower debt from profit and not just more ship sales. Economies of scale still working through. Situation in South Africa far from ideal with increasing load sharing (power cuts) and a big fall in the rand. Great for my holiday there in November but not sure how it will affect Grindrod . Hi mike, fingers crossed the index will stabilise but China looks an issue
I recently moved all of my shares in this company to Hargreaves Landsdowne. Does anyone know how long they take to apply dividends to the account ? I think they take longer than interactive investor which is same day.
As a farly new shareholder massively impressed with the CEO of this company and indeed the company itself. As one who was involved in negotiating high value govt contracts in the Middle and Far East I know how difficult in can be, particularly in getting them over the line. Post the call this morning I have added.
Having lost several thousand on this share I got out a few months ago. The warning signs I should have spotted then and since.
1. A very unimpressive board who apart from the CEO and CFO said nothing at the AGM and couldn't wait to leave the room post meeting.
2. A likeable CEO but who was very heavily focussed on the purity, presentation and high end aspect of the product rather than at the end of day focussing on that it was a business that needed to grow and make money like any other.
3.Not a single buy by directors as the share price collapsed
4. Head of US sales hired then left with no new appointment. From an RNS almost looked as though the CEO was doing it
5. The auditors report in 2022 that stated the business viability was at risk in then.
6. As the funds raised slowly disappeared , continued expenditure on new packaging etc.
I look at the optimists here and wish them well and will indeed raise a tonic to salute them if this comes good but for me I have learnt a lot from my costly mistake. Perhaps like the CEO, I got too obsessed with the product rather than watching the business
Hi Mike, am away currently and had trouble being able to post.Yes I knew they were out.first thought was that they don’t appear to be getting as good rates as Taylor’sand of course a number of their directors have retired. Secondly I wonder how fast the economies of scale savings are going to come through. Also I thought it strange that unless I missed it there was not a single mention of Taylor’s in the results .personally I increasingly feel I would like to see a delisting take place and a full takeover so to speak. Forward rates that ed announced at last results were really excellent. Clearly grindrod strikes me as still very much a work in progress , I am very much looking forward to when I can make my first visit to Taylor’s in London.
Two new sites that seem to be good for rates and health of market. Alibra shipping, look under data for rates etc. Also Doric shipbrokers under research for market activity. Hi krusty in under three years I have had three good UK companies giving excellent dividends sold out and gone private. Its so annoying when you find a great company . UK govt according to weekend press reports now calling in CEO of revolut following his highly critical comments of red tape and bureaucracy in UK. From the days of Harvey Jones of ICI there has been criticism of no long term economic or manufacturing plan in the UK. Sad fact is as our political class have become poorer quality the economic and financial challenges facing the country have grown and they are simply not equipped by experience or intellect to deal with them. Apologies for my hobbyhorse !
Hi all, I really do increasingly wonder at the UK stock market. I also hold shares in Haleon and Lloyds, both of which released in my view good results but both have fallen today. I also noticed a small drop here. But so far today over £200,000 in share buys with some big one's amongst that , and a lousy 1800 sells. Defies logic but clearly some parties are agreeing with us Krusty and Mike and fellow owners. ps have just been on another couple of sites of shares I used to own and cannot believe the level of vitriol on them, let alone the level of debate. Lets hope that never happens here .
Whilst hugely relieved I got out here, albeit losing a lot of money , I feel for those still in. I personally feel they have been very much let down by the CEO and board. Two things I have noticed since I was the one shareholder to attend the agm last year . One, not a single share buy by any of the board over the last 18 months as the share price steadily went into freefall. Two, when the Head of USA sales left after only a few weeks, what on earth was the CEO doing visiting potential customers and almost acting as a sales director . Should have been seeking a replacement which never happened. I am not surprised by the financial position of the company given that in last years annual report the auditors expressed concern at the continued viability of the company . I wish all continued holders best wishes and that it comes good as the products are first class.... but I steadily started to question the ability of the CEO and the Board hence my decision to sell.
Mike , thanks for this and your points are very well made. Certainly they need to get the debt down whilst times allow for that and before any more big world shocks. I recall Ed saying that as a young company they need to give a few years of steady and reliable results which will then be reflected in the markets. Hopefully they are well on the way to doing this. They also certainly really need to deliver on the acquisition economies of scale plate. The majority of debt repayment was indeed ship sales so in June I would like to see other factors such as profit contribute to debt falling. At the moment I intend to reinvest the heathy dividends in more shares if they stay around these levels but from next year will start to invest them in other places. For me the concern is China and what may happen at some point. I have been tracking their military build up for years, and also there activities in the area of intelligence gathering which has steadily become more and more aggressive. Lets just stay it fell into my areas of involvement in years gone by. The sector that TMI operate in is hugely influenced by China trade and if China does something reckless then we along with a lot of other companies are in big trouble. I was lucky enough to see a presentation that Ed gave to analysts on the day of the update and was once again impressed by the ambitions of the board and a very carefully thought out strategy. Re Grindrod, South Africa is a worry. The political situation is steadily deteriorating and load sharing as they describe power cuts are increasing. Overall though for me this company stands out with its combination of youth, experience and ambition. Let alone that the Buttery family have a lot of money invested in it. I am constantly looking to find other similar companies but they are few and far between in the UK, especially any provide such a good dividend. At this stage though I remain highly optimistic. Time will tell !