The Dang Family already control 53%.Dato Johari only control max 10% thru JAG.The price wont go down in short term due to public spread is small & major shareholder not selling
good strategy.paying dividend to encourage investor to hold while rebuiding business.initially i want to sell because it enter at 49cent.now i might hold it longer
With cost of goods rising, how you expect these stores to survive? Only criminals with ill gotten gains and Ah Longs who suck peoples blood, able to buy from these stores. In short, these stores depend on blood money.
Keep expansion and average per buyer only at rm10.00 how to survive. With so many similar store concept openning. The co need to use some AI or data to really see which product is sellable...in order to reduce the central kitchen loss lower...
Recovery to pre-Covid-19 profit levels achievable by FY10/26F We see Mynews at an inflection point, with its food processing centre (FPC) currently operating at 70% utilisation, which is close to breakeven. Management also guided that it has managed to reduce food wastage from its FPC to be in line with the industry average. With the focus on expanding its store footprint by another 80-100 stores in FY24F, we expect Mynews’s revenue to grow by 14.5% yoy in FY24F. This is reflective of our overall constructive view on private consumption trends into 2024F, as articulated below. We believe the higher store openings in FY24F compared to FY23 should drive up utilisation of its FPC, gradually lifting gross margins back to 37%, last seen in FY17, and help Mynews return to profitability in FY24F. We expect FY25F and FY26F core net profit to jump 66.9% and 70.8%, respectively, to reach pre-Covid-19 highs of RM31m by FY26F.
Summary from 20/05/2016 to 24/10/2023 Highest Price 2.9000 First Occurred on 15/12/2017 Lowest Price 0.4000 First Occurred on 05/07/2022 Highest Volume 28.500m First Occurred on 24/10/2023
PETALING JAYA: Analysts are positive about MyNews Holdings Bhd’s prospects on expectations that the group will continue to deliver strong earnings.
The group posted a core net profit of RM1.8mil in the first quarter of financial year 2024 (1Q24), making its second consecutive profitable quarter.
According to CIMB Securities, the worst is over for the convenience store operator, backed by better earnings visibility stemming from a more sustainable growth strategy.
“We are maintaining our earnings forecasts, projecting MyNews to achieve a net profit of RM8mil in financial year 2024 (FY24) and rising to RM31mil by FY26,” the brokerage firm said in a report.
2024-01-31 Q1, mynews quarterly revenue hit ~RM200mil, the highest level ever achieved ... the share price is expected to recover in tandem with the growth in sales and profitability
MYNEWS - Notice of Book Closure MYNEWS - Notice of Book Closure ILC-04102023-00001 Single-tier interim dividend of 0.5 sen per ordinary share in Mynews Holdings Berhad in respect of the financial year ending 31 October 2023. Kindly be advised of the following : 1) The above Company's securities will be traded and quoted "Ex - Dividend? as from: 17 Oct 2023 2) The last date of lodgment : 18 Oct 2023 3) Date Payable : 09 Nov 2023 MANAGER, REF. DATA MANAGEMENT You are advised to read the entire contents of the announcement or attachment. To read the entire contents of the announcement or attachment, please access the Bursa website at http://www.bursamalaysia.com
Wow, 2 quaters untung berterusan. Safe tak akan gulung hehe
Profit before taxation for the current quarter was RM3.19 million as compared to RM2.40 million in the immediately preceding quarter. Earnings before interest, tax, depreciation (inclusive the depreciation of right-of-use assets) and amortisation (EBITDA) increased by 2.0% to RM26.59 million from RM26.06 million.
PROSPECTS Currently, the group is operating a total of 619 outlets, made up of 468 myNEWS (including 34 SUPERVALUE), 132 CU and 19 WHSmith outlets. The number of new stores will increase at a faster rate in FY2024. Therefore, we expect the sales revenue to grow in parallel with the growing store network and ongoing efforts in increasing the in-store sales. Consequently, we expect the capacity of the FPC to continue to increase, driven by the increasing sales at the retail front. After going through the pandemic, Mynews is stronger, more versatile and dynamic. It looks towards strategically expanding its five retail brands, namely, myNEWS, Korea's CU, the U.K.'s WHSmith, SUPERVALUE minimart and MARU Coffee at a faster rate. Meanwhile, the internal talent and core infrastructure made up of IT systems, FPC, distribution centres and logistics are continually enhanced to support the growing businesses. Mynews has turned profitable since the fourth quarter of FY2023. Barring any unusual seasonal changes and unforeseen circumstances, Mynews is confident that the worst is over and expects that its performance will continue to improve.
KUALA LUMPUR: The outlook for MyNews Holdings Bhd appears promising, according to RHB Research.
The change in strategy to consolidate the management teams of MyNews and CU stores has led to promising sales and margin improvement, the firm added.
"Moving ahead, the robust expansion of the MyNews brand, coupled with the reduction of losses at CU and anticipated breakeven of the food processing centre (FPC) are poised to sustain the group's turnaround," it said in a note.
RHB Research added that MyNews had achieved RM24 million-RM29 million profit pre-pandemic, but the introduction of CU in 2021 resulted in continuous losses throughout its gestation period.
Over the three years, the convenience store operator had learned from its mistakes and adapted a new strategy.
It consolidated the management teams of CU and MyNews to leverage the latter's local expertise in running an international brand.
"This resulted in GPM improvement given the more synergistic benefits and cost savings due larger combined scale, while also contributing to stronger sales through better product assortment.
"We highlight CU's closest peer, FamilyMart, took three years to breakeven.
"With the financial year 2024 (FY24) marking the third year since CU's introduction, excluding the pandemic year, it is poised to break even," it noted.
RHB Research expects profit to return to pre-pandemic levels in FY25 for MyNews, with CU breaking even by the end of 2024.
The firm kept a "Buy" call on the company with a target price of 68 sen.
RHB Research said MyNews has been continuously gaining market share, with sales growing despite the overall decline in the convenience store sector, as cited by Nielsen.
This is attributed to its continuous fine tuning of product offerings and the introduction of more quality fresh food items after securing sufficient labour for FPC, which has led to better consumer traction.
"Management guided to aggressively expand this profitable brand to further offset narrowing losses from other business units given its track record of resilient performance.
"We believe this will be further aided by a new shareholder providing valuable insight and suggestions to the business.
"Mynews also plans to introduce new Maru Coffee Café, leveraging on the popularity of its coffee and fresh food products," it noted.
RHB Research also highlighted that FPC's losses narrowed to RM0.2 million in the first quarter (1Q) of FY24, smallest losses since its establishment in 2019.
This was due to stabilised input costs, and management being able to negotiate better terms with suppliers due to stronger sales volume.
"We anticipate FPC utilisation will continue to ramp up in line with store expansion and higher in-store sales.
"On the other hand, WH Smith's earnings are currently at approximately 70 per cent of pre-pandemic level as it was impacted by some airport renovation, but we expect it to recover post renovation and increasing tourist arrivals," it noted.
Moving forward, the firm said key risks for MyNews include delays in CU's turnaround and weaker-than-expected consumer sentiment.
Maybank Investment Bank (Maybank IB) Research has maintained a “buy” call with an unchanged TP of 62 sen for MyNews.
“With its CU stores and food processing centre reaching break-even levels, positive group earnings growth will become more sustainable, while growing average sales per store also signals an improved consumer appeal towards Mynews stores,” it said.
On steadier footing in FY24E We are encouraged that sales for both Mynews and CU stores have improved, alongside narrowing losses for the group’s FPC and CU operations. With this, MNHB can fully focus on growing its group-wide fresh food sales contribution to lift group margins in a sustainable manner. Our earnings estimates are unchanged. Maintain BUY with an unchanged TP of MYR0.62, based on 1.7x FY24E PBV
According to Nielsen, Mynews has been continuously gaining market share, with sales growing despite the overall decline in the convenience store sector.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
msg232
17 posts
Posted by msg232 > 2023-08-21 11:10 | Report Abuse
Johari will be in the cabinet soon?