Forum Archive Index - November 2000

["G Stolwyk" <stolwyk@wave.co.nz>]

Dear H,

 

THL' s ANNUAL MEETING will be held on 13/11.

 

Even taking into account possible higher cost of travelling to Aus/Nz the current shareprice seems to me an aberration!

 

Perhaps, due to the increased cost of living in Europe due to higher oil prices, coupled with some interference by the Olympics, there is a fear that tourism will grow at a lesser rate than before.

 

Their mainstay. the motorhome division, imports  the chassis 

from Europe and the rest is done here.There will be a saving in cost here.

They ought to have a good cashflow due to high depreciation rates.

 

I like to know if there is increased competition in Australia. I don't think however that there is more than usual.

 

The investor has been clobbered by a lot of negative news from the larger companies and they have become rather skittish. Any rumour (including those being spread around by influential interests who want to buy at lower prices), could affect prices!

 

The management is very sound and the prospective P/E ratio is now very low. That may change somewhat once the latest trading results are divulged at the meeting.

 

At this stage it seems that the current low  shareprice is not realistic whatever the reasons!!

 

Only a few days to go and we shall know more!

 

Gerry