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ING - Inghams Group

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REAFFIRMING FY25 GUIDANCE & TRADING UPDATE

i do not hold this share ( yet )

i am still dithering here

i want more exposure to the ( consumer staples ) sector

but can't get an attractive entry here

maybe this is the week ( to dip a toe in )
 

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A chart update

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qldfrog said:
Bad news with Woolies reducing intake based on afr..
I do not expect a great week ahead
Click to expand...
with the company reporting, the narrative was:
Inghams Group plunged 20 per cent to $2.83 after a 10.2 per cent drop in full-year net profit to $90 million. Its result and outlook were both below market expectations.

It will strip out up to $80 million in costs and has forecast weaker-than-expected profits for the year after supermarket giant Woolworths restructured its contract with the company and expanded the number of suppliers it uses.

Ingham's remains Woolworths’ largest supplier of chicken, but the retailer has cut the contract volumes in two steps, most recently in February.

Ingham's was caught with too much stock in the June quarter after it misread the broader market dynamics while it adjusted to supplying Woolworths with less chicken, hurting margins as it offloaded more poultry through wholesale markets
 
Dona Ferentes said:
with the company reporting, the narrative was:
Inghams Group plunged 20 per cent to $2.83 after a 10.2 per cent drop in full-year net profit to $90 million. Its result and outlook were both below market expectations.

It will strip out up to $80 million in costs and has forecast weaker-than-expected profits for the year after supermarket giant Woolworths restructured its contract with the company and expanded the number of suppliers it uses.

Ingham's remains Woolworths’ largest supplier of chicken, but the retailer has cut the contract volumes in two steps, most recently in February.

Ingham's was caught with too much stock in the June quarter after it misread the broader market dynamics while it adjusted to supplying Woolworths with less chicken, hurting margins as it offloaded more poultry through wholesale markets
Click to expand...
( i hold WOW , COL , MTS and now ING on Friday )

i saw the drop as a good entry point ( missed the low of the today by a fair bit , but obtained a satisfactory price as a toehold to a larger position later

i see the weaning of dependence on WOW as a GOOD thing as i have previously watched WOW ( but not exclusively WOW ) suck supplying companies to the brink of insolvency

in the past i held Tegel for a good outcome ( a profit crystallized after a take over )

i expect more weakness in the share price over the next year or two ( where hopefully i will get to add to the holding ) , before any real recovery

the bonus is it will soften my exposure to the grains ( GNC and SGLLV ) in this sector
 
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