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24-10-2014, 09:33 AM
(23-10-2014, 10:57 PM)touzi Wrote:(23-10-2014, 06:38 PM)Muser Wrote: - Strong brands, steady growth in sales
- zero debt, consistent high >20% ROE
- I think its undervalued @ 60c.
- High PB ratio not so relevant for a service company with few assets and strong brands
- 4% div yield with committed 40% div payout
- limited competition
What can go wrong?
Limited competition? I think competition is intense in the F&B industry, even within the Japanese Food sector.
Given the diversified brand portfolio of JFL and its ability to switch brands/outlets which don't work, what are the real competitive threats?