The Hour Glass

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(26-05-2023, 08:28 AM)Choon Wrote: Seems that the earnings jumps in recent years has come to an end, and probably due to constraints in supply.

There is nothing in the results to suggest that supply constraints is the reason (or part of it) for the end to recent years' earnings jump.

In previous 2-3 years, the supply "constraint" created by increased demand, actually improved the GPMs (by over 1000bp) and reduced the inventory turnover (by slightly over 2 months). 2H23 sees an adverse change for both GPMs and inventory turnover over the previous last 12 months.

So the high water mark for the current cycle may have passed. Looking at THG's share price over the last 12 months, it is remarkable that the ATH share price was reached ~12 months ago too. Mr Market seems to be pretty efficient and accurate here I suppose.

That said, Michael Tay welcomes the balance and moderation, just like any serious watch collector does. The latter is their true customer and only cultivating and focused on providing value to the true customer, will true lasting results follow. With low dividend payout ratios and the fact that Chairman Tay isn't young anymore, it is highly probable that OPMIs can always look forward to more "welcomed surprises".
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(31-05-2023, 11:27 AM)brattzz Wrote: https://investors.sgx.com/company-disclo...4TFWML1ONN

THG started 91 lots share buy-back at $1.98, indicating value at this price point...let see if they buy-in consistently! Big Grin

Company Announcements –Investor Portal (CDP Internet) – Singapore Exchange (SGX)

continued share buy-back at $1.97, 153 lots...

buy-buy-buy! Big Grin
1) Try NOT to LOSE money!
2) Do NOT SELL in BEAR, BUY-BUY-BUY! invest in managements/companies that does the same!
3) CASH in hand is KING in BEAR! 
4) In BULL, SELL-SELL-SELL! 
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(05-06-2023, 12:10 PM)brattzz Wrote:
(31-05-2023, 11:27 AM)brattzz Wrote: https://investors.sgx.com/company-disclo...4TFWML1ONN

THG started 91 lots share buy-back at $1.98, indicating value at this price point...let see if they buy-in consistently! Big Grin

Company Announcements –Investor Portal (CDP Internet) – Singapore Exchange (SGX)

continued share buy-back at $1.97, 153 lots...

buy-buy-buy! Big Grin

continued share buy-back at $1.99, 20 lots...
1) Try NOT to LOSE money!
2) Do NOT SELL in BEAR, BUY-BUY-BUY! invest in managements/companies that does the same!
3) CASH in hand is KING in BEAR! 
4) In BULL, SELL-SELL-SELL! 
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