The Hour Glass

[brattzz]

Thanks Weijian,

Appreciate the information for RegCo CEO Tan Boon Gin, "Mr Tan said that as best practice, companies should refrain from share buybacks during the two weeks immediately preceding the announcement of quarterly financial statements, and one month immediately before the full-year financial statements", it has been very helpful!

Now i am very sure that these 2-3 + 4 weeks windows is accounting for something!

[brattzz]

Thanks for pointing this out. It is indeed puzzling why the company suddenly stopped buying back shares since the last purchase on 21Sep22 and paid $2.38/share..
https://links.sgx.com/1.0.0/corporate-an...3e166b2272
For sure it cannot be due to lack of money!

Something is cooking?

1) Thanks to WJ, Now i know there is 2-3 + 4 weeks windows still available for buy-ins,
2) We can also try to guess that the preliminary numbers for Half YR 2023 reports are out and available on THG's table already,

My gut feel is, got to some get quick during this window! (before its all over!)

[CY09]

https://links.sgx.com/1.0.0/corporate-an...8cb2f121f6

The share buyback by THG management has returned. it makes it weird why did they stop and restart

[brattzz]

a thought on the stop/restart was that, it's to demonstrate that there is volatility in the market, even THG/Tays has to be prudent and measured in the buy-backs, limited to timing & quantity, don't expect them to support the prices up.

HalfYR23 report numbers are assumed lower than HYR22 already, general sentiments,

or they could just be busy with F1's parties,

[brattzz]

https://links.sgx.com/1.0.0/corporate-an...8cb2f121f6

The share buyback by THG management has returned. it makes it weird why did they stop and restart

Strange, there's no buy-backs on 7th Oct 2022, so we have to take it that HalfYr2023 reporting can/may be released on 30th Oct 2022 onwards, instead of Mid-Nov 2022, :O

:O :O :O

[brattzz]

https://www.businesstimes.com.sg/life-cu...t-pandemic

THE Swiss watch industry is headed for a record year.

Exports have already reached CHF 18.1 billion (S$25.8 billion) – 12 per cent higher than last year – according to the latest data released by the Federation of the Swiss Watch Industry.

And that figure is just from January to September 2022, (3 more months of 2022 to go!)

Looking forward to THG's halfYR2023 reporting!

[brattzz]

https://links.sgx.com/FileOpen/THGL_1H_F...eID=737333

Revenue up 18%
Profit up 35%

(a) Group performance review for the half year ended 30 September 2022
Revenue for the 6 months ended 30 September 2022 (“1H FY2023”) increased by 18% to $555.5
million (1H FY2022: $472.4 million). Gross margin was 32.4% in 1H FY2023 versus 29.3% in 1H
FY2022.
Profit after tax rose 35% to $85.5 million (1H FY2022: $63.5 million).
Higher operating expenses were due to increased staff costs, rental expenses and advertising and
promotion activities.
(b) Cash flow, working capital, assets or liabilities of the Group
As at 30 September 2022, group inventories were $261.8 million (31 March 2022: $254.1 million).
Cash and bank balances stood at $218.0 million (31 March 2022: $323.4 million). The lower cash and
bank balances was mainly due to payment of dividend, share buy backs and purchase of a property in
Australia.
The Company paid dividend of $40.3 million and bought back $55.3 million of its own shares in 1H
FY2023. The Group concluded the purchase of the property located at 171 Edward Street, Brisbane
at $85.3 million in the same period.
Consolidated net assets were $713.9 million or $1.08 per share as at 30 September 2022

The continuing war in Ukraine and increasingly negative economic and political uncertainties may
adversely impact consumer sentiment particularly with luxury consumers and watch buyers.
The Group expects to continue to be profitable in 2H FY2023, and for the full financial year

Dividend amount per Ordinary Share 2.00 cents

record year indeed!

[dydx]

Indeed very positive blistering business and financial performance in an uncertain global economic and geopolitical environment. The Tay's are smart to have chosen their country markets well - THG didn't go to Russia or Ukraine! More importantly, THG has built long-standing business relationships with Patek, Rolex/Tudor, Hublot, and MB&F, anchored by the Tay's personal/family friendships with their owners and top management. There are others like AP, F.P.Journe, TAG Heuer, IWC, Ulysse Nardin, Breitling, plus a few other highly promising collectors' brands too. In fact, in terms of brands portfolio, THG has nearly all the leaders! To top it all, THG has chosen their store locations very well, and has trained their salespeople very well too. The continued growth and success of this beautiful business is not a chance event!

[brattzz]

so it's true that rich really got no recessions... gosh! this luxury market segment is really resilient!

[Choon]

Just curious why THG has not re-commenced share buyback.