Now I am curious, GXL emerged today as a substantial holder of a very illiquid business I have in my portfolio. KAM, I will have to do some digging and see what the go is. Looked at GXL a while ago but the debt scared me away.
Other way around Robusta... KAM now own 5% of GXL.
Interesting. I had a look at GXL about six months ago, it just seemed like a mini-ABC. From what i wrote at the time: NPAT had grown 35% but EPS only 5.5%. It's a low growth industry. They have made some claims about being able to extract savings by centralising buying but it hasn't really materialised yet. Payroll costs were rising as % of revenue. I guess they are trying to sell it as sort of steady earning industry that can wear higher debts. Anecdotally, from what I saw online, they are also more expenisve than most other vets.
Based on that I avoided. I haven't seen this year's report. I'll have to have a look.
FY12 figures were NPAT +40%, EPS +35% (forecast of +15% for FY13)
Net debt to equity of 80%, so it's not quite in the ABC territory... not yet anyway. I hold some at the moment (up just over 11% in the short time I've held it)... but yes, I did notice the ABC parallels too.
They are looking at adding approx 12 vet practices a year to their group, so definitely need to keep an eye on performance, net debt etc.
...also (for what it's worth) got a shareholder benefits card from them a few days ago to, anyone with more than 1000 shares gets 10% discount on all vet services, products and retail items at any of their practices.
Interesting. I had a look at GXL about six months ago, it just seemed like a mini-ABC.
Sums it up pretty well... but minus the fraud one would hope.
but have a stop in place at $2.49 (just below a group of buy orders) in case things drop back that far.
I was trying to keep an eye on this one today, but a bit difficult to gauge the market sentiment with the bots working overtime.
41.3% of the trades were less than 5 shares.
Only 11.1% of the trades were more than 50 shares.
Cheers
Country Lad
Where do you get this info from? Is it the market depth? Does market depth also show pre open orders?
Interesting. I had a look at GXL about six months ago, it just seemed like a mini-ABC. From what i wrote at the time: NPAT had grown 35% but EPS only 5.5%. It's a low growth industry. They have made some claims about being able to extract savings by centralising buying but it hasn't really materialised yet. Payroll costs were rising as % of revenue. I guess they are trying to sell it as sort of steady earning industry that can wear higher debts. Anecdotally, from what I saw online, they are also more expenisve than most other vets.
Based on that I avoided. I haven't seen this year's report. I'll have to have a look.
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