Super Group

[greengiraffe]

From my impression, the cash generated is not up to what was reported in terms of accounting earnings plus several significant one-offs.

Please correct me if I m not wrong.

Make no mistake - Super is no F&N and let alone trying to match up 10% of Nestle.

Vested
Odd Lots
GG

I do want them to succeed because of all the research I have done and I like the Management a lot.

Sometimes it is not because all the research you have done you have to own the company. For me most of the cases are after all the research i have done, i want to avoid the company.

Few years back i did a quick look on this co management, just to discover the management is like 1 big merry family husband & wife, son & daughter, uncle & wife's brother. It might have changed now i am not sure. But no way i will like the management.

U forgotten Sam Goi... anyway I share your sentiment... The reason why Super attracted so much interests was due to a misconception that it is a defensive F&B counter plus the several one-offs that resulted in good CAGR over the years...

When i reviewed their annual reports over the years, the lack of supporting cashflows gave me the creepy feeling and hence i missed out on the entire merry go round.

GG

Hi GG,

I disagree with you on" lack of supporting cashflows", maybe can you elaborate more.
From what i see, SUper does have consistent free cash flow for at least the past 4 years ( investing week only shows past 4 years 2010 - 2013 but i believe it has been happening way before that) and they are consisent with their dividends which is an indication of the quality of these cash flows and most importantly, taking care of minority shareholders.

I am vested so i will be biased for sure.

Yes, competition is intense, but kudos to the management that it is trying to find new markets and spending on research, like Cereal, botanical herb,nutritional oil power, expanding production, opening owl cafes, expanding into new markets , vietnam,myanmar( in the past), going into Food Ingredients years back (which has been their saving grace) .There have been hits or misses but thats expected when one tries.Most importantly, i see a management not resting on its laurels so i give credit to that.

I view SUper as a growth company as it is breaking new ground away from the coffee market , as it has been saturated.

SHort term pain( thailand unrest,incubation period), yes, but long term say 5 years i beg to differ.