12/09/2023 16:43

Select Harvests (SHV) $4.45

SHV +10.2%: a strong day for the almond business, its best session in 4 weeks thanks to the company presenting a more bullish outlook in an update to the market. They have faced a number of different issues over the last few years with the almond price underperforming expectations, too much rain, not enough rain and issues with the bee population which hindered output.

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22/03/2023 09:24

Emerging Companies Portfolio – Amendments

We are making a number of amendments to the Emerging Companies Portfolio.

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22/03/2023 09:06

Select Harvests (SHV) $4.05

The almond grower has had a difficult time in recent months, and it appears they are continuing to struggle after another downgrade yesterday. The company announced non-pareil volumes (which is their higher quality product) would likely be 25-35% lighter than expected based on early weighbridge data at their processing facility, just a month after reconfirming production at the AGM.

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22/11/2022 17:09

Select Harvests (SHV) $4.94

SHV -4.63%: the FY result was out today for the almond grower, with shares weaker on a slightly disappointing report. EBITDA was in line at $37.9m, however, the revenue of $200m and NPAT of $4.8m were slight misses to consensus. They produced 29kmt, right in the middle of guidance, while the selling price of $6.80/kg was slightly above expectations. The almond...

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16/09/2022 08:26

Select Harvests (SHV) $5.56

SHV +13.24%: the almond grower rallied to 3-month highs today following a better-than-expected crop update. 80% of the 2022 crop has been processed, with 722% sold at a strong price of $6.75/kg. They’ve also forecast 30kt for the 2023 crop after securing the minimum level of bee hives required. While this is a slight downgrade, the market was positioned for worse with a short position of around 4% heading into the update. We suspect shares will be supported given the major risk is now less of a concern.

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20/07/2022 09:30

Emerging Companies Portfolio

The portfolio had a solid week up +3.93% outpacing the gain of the market. Cash remains at around 4% but we did make some changes during the week, cutting underperformers to move into some cheap stocks with potential catalysts– St Barbara (SBM) & Lovisa (LOV). Strandline (STA) rallied more than 15% and EML Payments (EML) bounced 10% to lead the portfolio. St Barbara (SBM) & Select Harvests (SHV) both fell more than 5% to be the weakest positions in the portfolio.

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14/07/2022 17:24

Select Harvests (SHV) $5.27

SHV +1.35%: the almond grower provided a trading update following the completion of their latest harvest saying 100% of the almonds had now been secured. There were some drawbacks though with wet weather meaning a portion of the crop would need to be mechanically dried at a cost, while freight remains an issue and will likely push out any cash flow. These issues were largely well understood...

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13/07/2022 09:38

Emerging Companies Portfolio

The portfolio was down -2.42% in the week, cash remains at around 4% with no changes to the portfolio. EML Payments (EML) was the biggest drag falling more than 25% after the CEO departed in mysterious circumstances. Lynas (LYC) and PointsBet (PBH) fell -16% and -12% each as well. Select Harvests (SHV) bounced back more than 10% and Pinnacle (PNI) added 7% to be the top performers in the portfolio. This week we are looking at a number of changes in store for the portfolio.

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06/07/2022 09:38

Select Harvests (SHV) $4.72

The almond producer came under pressure after a disease outbreak in bees along the east coast threatened pollination in the upcoming season. The varroa mite has been detected in parts of NSW with the initial lockdown of hives failing to limit the spread causing a state-wide lockdown. Almond producers need the bees for pollination and the current 6-month-long emergency order overlaps with the pollination period. Select Harvests...

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06/07/2022 09:37

Emerging Companies Portfolio

The portfolio was off -0.27% in the week against a weak market that fell -1.14%%. Cash remains at around 4% with no changes to the portfolio. Austal (ASB) was the star of the show adding ~30% following a good contract win while Praemium (PPS) +21% and Dubber (DUB) +18.7% bounced strongly. Tyro (TYR) -18.59% and Select Harvest (SHV) -10.44% were the biggest drags.

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