OLH – Oldfields Holdings | Aussie Stock Forums

still doing what they say:
Oldfields Holdings Limited (OLH) is engaged in
(i) importing and distribution of paint brushes, paint rollers, painter’s tools and accessories
(ii) manufacturing and distribution of scaffolding and related equipment, and
(iii) hiring and erection of scaffolding and related products.

The majority of operations of OLH are conducted in Australia. Market cap $15million. Listed on ASX in 1960. A grand total of 19 trades in 2020.
https://www2.asx.com.au/markets/trade-our-cash-market/directory (sort List Date; #6 )

Managed to lose $1.5million on revenue of $24million

……….. Earnings (LHS) ………………………………………………………………….. ………………………………………..Return on Equity (RHS) …………

2020 financial year was a year of change and transformation.
The 2020 financial results were impacted by the following:

– The scaffold division has been affected by both the building downturn as well as COVID-19. Though the revenue was marginally lower, the profitability was significantly impacted by restructuring costs and lower margin in general due to competition.
– The paint division has been less affected by COVID-19 and has benefited from the new sales channel development and introduction of new products. Revenue has increased and EBITDA was close to breakeven.
– Head office costs increased mainly attributable to increase in costs on new senior executives, restructuring and insurance costs.

During the year, the following changes have been made in the business:
– Strengthening of the senior management team.
– The organisational structure has also been reviewed. The roles and job descriptions have been redefined to increase operational efficiency. A few key positions have been replaced to refresh the company’s culture.
– The first few tranches of the new equity provided the company to fully repaid all outstanding financial liabilities with Westpac as well as the shareholder’s loan in February 2020. The remaining new equity, which was completed in April 2020, further enhanced the company’s capability to grow and develop new initiatives.
– New Board members have provided new expertise, energy and directions to the company.
– New systems and processes have been implemented though some areas are still in progress.
– Further development in new sales channels for the paint division (for example offshore markets in NZ and UK).

( Acrow ACF seem a safer bet)

 

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