Description:
* "Public
unlisted company formed in 1987. Processes lamb, sheep, bobby calves and
goats. Production commenced December 1987 with initial aim of 5500 animals
per week, working 5 ˝ 8 hour days 7 days per week production, at 10 hours
per day was introduced in December 1991. Night shift boning and cutting 7
nights per week commenced in December 1991. Night shift on Slaughter board
started February 1994. By 1998, the Slaughter board was working 20 hours
per day, 5 days per week and 10 hours per day on the other 2 days.
The Boning and Cutting room operates 20 hours per day, 7 days per week. In
2003 the plant handled 28,800 stock units per week with 100% being further
processed. This was achieved with the Slaughter chain being
unchanged since 1987.
The company originally issued $1 shares. There were two further
issues in 1990 and 1995. In 1999 the company had a bonus issue of
five shares for every four held. This increased the total number of
shares to 7,320,924. In April 2004 Blue Sky Meats purchased Horizon
Meats, while at the same time buying back 1,557,875 of its own shares.
The company presently has 5,763,049 shares.
In the 15 full years from March 1988 to March 2003 the total after tax
profit has been $28,905,553. Shareholders have received 316.75 cents
per original share in fully imputed dividends.
At March 2003, net tangible assets per share were $3.08. At the end
of 2003 the share price was $5.00. An investor, who purchased shares
at the company’s inception and sold them in December 2003, would have
received about $14 (tax free) for every $1 invested in a combination of
dividends and sale of shares."
Website: http://www.bluesky.co.nz
Recent announcements: click here
|
Year |
2002 |
2003 |
2004 |
2005 |
2006 |
Average
GR |
Compounding
GR |
|
Gross
growth rates |
|
|
|
|
|||
|
Revenue |
|
-7% |
9% |
-14% |
1% |
-6% |
-3% |
|
NPAT |
|
2% |
-19% |
7% |
-63% |
-74% |
-20% |
|
Total
Assets |
|
6% |
-15% |
11% |
26% |
23% |
5% |
|
Net
Assets |
|
13% |
-22% |
13% |
-1% |
-7% |
0% |
|
Per
Share figures and growth |
|||||||
|
Earnings |
$
0.77 |
$
0.78 |
$
0.64 |
$
0.68 |
$
0.13 |
|
|
|
|
|
2% |
-19% |
7% |
-81% |
-93% |
-30% |
|
Net
Assets |
$
3.48 |
$
3.92 |
$
3.04 |
$
3.44 |
$
1.70 |
|
|
|
|
|
13% |
-22% |
13% |
-51% |
-57% |
-13% |
|
Dividends |
$
0.28 |
$
0.34 |
$
0.38 |
$
0.28 |
$
0.15 |
|
|
|
|
|
23% |
11% |
-27% |
-46% |
-56% |
-12% |
|
Profitability |
|||||||
|
Return
on Assets |
16% |
15% |
14% |
14% |
4% |
|
|
|
Equity
Multiplier |
1.42 |
1.34 |
1.46 |
1.43 |
1.82 |
|
|
|
Return
on Equity (ROE) |
22% |
20% |
21% |
20% |
8% |
|
|
|
ROE
(avg E) |
|
21% |
18% |
21% |
7% |
|
|
|
Net
Profit Margin |
5% |
5% |
4% |
5% |
2% |
|
|
|
Dividend
payout ratio |
36% |
44% |
60% |
41% |
118% |
|
|
|
Liquidity |
|||||||
|
Net
working capital |
14,091,000
|
16,707,000
|
10,383,772
|
12,834,297
|
12,464,474
|
|
|
|
Current
ratio |
2.69 |
3.19 |
2.29 |
2.51 |
1.77 |
|
|
|
Acid
test ratio |
2.69 |
3.19 |
1.24 |
1.01 |
0.54 |
|
|
|
Other |
|||||||
|
Times
interest earned |
104 |
141.13 |
22.74 |
53.96 |
10.57 |
|
|
|
Operating
exp/income |
93% |
92% |
94% |
93% |
97% |
|
|
|
|
|
|
|
|
|
|
|
|
Summary
Financials |
|||||||
|
Income |
95511000 |
88789000 |
96373886 |
83076521 |
84047021 |
|
|
|
Expenses |
88919000 |
82063000 |
90879652 |
77210829 |
81859335 |
|
|
|
Tax |
2165000 |
2211000 |
1820750 |
1940059 |
720064 |
|
|
|
NPAT |
4427000 |
4515000 |
3673484 |
3925633 |
1467622 |
|
|
|
|
|
|
|
|
|
|
|
|
Assets |
28374000 |
30211000 |
25578164 |
28308395 |
35660272 |
|
|
|
Liabilities |
8330000 |
7629000 |
8062342 |
8480594 |
16093764 |
|
|
|
Net
Assets |
20044000 |
22582000 |
17515822 |
19827801 |
19566508 |
|
|
| Registered Office: McCulloch & Partners Cargill Chambers, 128 Spey Street Invercargill |
Mailing address: |
| Directors: Barry C Thomas Graham J Cooney J Peter Houlker Malcolm J McMillan Peter J Carnahan |
Secretary: |
| Auditors: Deloitte |
Solicitors: |
| Bankers: Westpac Banking Corporation |
Registrar: McCulloch & Partners |
| Accountant: McCulloch & Partners |
Other: |
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Company balance date:
Last updated: 07/01/2007
