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JYC - Joyce Corporation
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was a mere 36 cents when i bought into them in January 2013
one of those strange winding journeys
but well and truly repaid for that trip to Perth , not to mention the other investment ideas i spotted on the trip about a 66% successful hit rate so ended well in front ( even without JYC )
one of those strange winding journeys
but well and truly repaid for that trip to Perth , not to mention the other investment ideas i spotted on the trip about a 66% successful hit rate so ended well in front ( even without JYC )
galumay
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Poor finish to the year for JYC after a good H1, hopefully someone smarter than me can explain "Normalised" NPAT, I cant find anything in the notes but it has a significant variance to reported earnings. Assume its non-recurring revenue/cost adjustment.
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an uniformed guess is adjusted for extra days ( or a whole week ) in the accounting period
i had seen references to non-52 week year in other shares i hold ( some had 2 extra days some were less specific )
( remember this was a leap year )
galumay
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Yeah, not that, its a lot of money!
galumay
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Well regardless of my reservations about the result, I gratefully accepted the Final & Special Divvies into my account today, 5% thank you very much! My second largest holding behind AAPL, even after I sold down a bit this week.
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Driving force behind Joyce Corporation to retire after distinguished career
Non-Executive Director and former Chairman of Joyce Corporation Dan Smetana will call time on his 40-year career at the Company when he retires after the Joyce Annual General Meeting on November 21.
Mr Smetana was part of a consortium that acquired Joyce from George Weston Foods in 1984, and served as Executive Chairman, and later Non-Executive Chairman of the group until 2017.
Under Mr Smetana’s leadership Joyce pursued a strong focus on providing jobs and business opportunities in both Western Australia and on the eastern seaboard and delivered consistent returns for the firm’s loyal shareholders.
In 1984 Joyce was a manufacturing business that produced hospital equipment, bedding, and foam, canvas and steel products. Mr Smetana and his consortium listed Joyce on the Australian Securities Exchange in 1984.
By the late 1980’s Joyce was the largest manufacturer of furniture and related products in Australia.Australian manufacturing was a difficult business to sustain in the mid-2000s, and the foam business was eventually sold, before the modern incarnation of Joyce emerged in 2006, when the Company acquired 100% of Bedshed Franchising Pty Ltd, a bedding specialist that Joyce had held 49% of since it was established by the Company in the 1970s.
In 2014, Joyce acquired a 51% interest in the KWB Group Pty Ltd which has been a hugely successful investment and is now established as a clear national leader in the Kitchen & Wardrobe renovation market.
Bedshed and KWB Group have been mainstays of Joyce Corporation. Driven by Dan’s passion for building businesses from strong partnerships, both KWB and Bedshed have become highly successful enterprises that have enriched the lives of franchisees and partners, while providing personalised kitchens and quality bedding products to hundreds of thousands of Australians across the continent.
Joyce Chairman Jeremy Kirkwood paid tribute to Mr Smetana’s time at the Company:“Dan’s contribution to both Joyce and the business community in Western Australia should be celebrated,” Mr Kirkwood said.“He has been a constant in the leadership of Joyce for more than 40 years, and in that time has led the strategic direction and evolution of the Company as it managed its transition from manufacturer to highly successful retailer and franchise operator.
Dan has always focused on what is best for Joyce’s customers, staff and shareholders.“Dan’s contribution is not limited to Joyce – he is a highly-respected business leader, previously holding the role of Deputy Chair of Western Power amongst others and being a past recipient of the Centenary Medal for Service to Commerce and the Community in 2003.
Dan is an active philanthropist and has served many not-for-profit organisations, including, St John of God Foundation, the Defence Reserves Support Council – WA, Youth Focus,WASO and the WA Federation of PCYC. Dan has also held the roles of President of the Industrial Federation of Accident Prevention and board member of the National Safety Council of Australia.
“We thank Dan for his incredible contribution to Joyce Corporation and wish him and his wife Julie well in his retirement.”Mr Smetana said: “I was always ambitious for Joyce when we started, but it’s certainly very satisfying to look back and see all that the Company has achieved. I’d like to thank the thousands of people who have contributed to Joyce’s success over the years, including the staff, our management teams, my fellow directors, and our business partners and franchisees.“I also thank our shareholders, many of whom have been with us since we started back in the 1980’s, and our customers, who have put their faith our products and services.”
ENDS
i hold JYC ( 'free-carried' )
where to next i wonder ?
Non-Executive Director and former Chairman of Joyce Corporation Dan Smetana will call time on his 40-year career at the Company when he retires after the Joyce Annual General Meeting on November 21.
Mr Smetana was part of a consortium that acquired Joyce from George Weston Foods in 1984, and served as Executive Chairman, and later Non-Executive Chairman of the group until 2017.
Under Mr Smetana’s leadership Joyce pursued a strong focus on providing jobs and business opportunities in both Western Australia and on the eastern seaboard and delivered consistent returns for the firm’s loyal shareholders.
In 1984 Joyce was a manufacturing business that produced hospital equipment, bedding, and foam, canvas and steel products. Mr Smetana and his consortium listed Joyce on the Australian Securities Exchange in 1984.
By the late 1980’s Joyce was the largest manufacturer of furniture and related products in Australia.Australian manufacturing was a difficult business to sustain in the mid-2000s, and the foam business was eventually sold, before the modern incarnation of Joyce emerged in 2006, when the Company acquired 100% of Bedshed Franchising Pty Ltd, a bedding specialist that Joyce had held 49% of since it was established by the Company in the 1970s.
In 2014, Joyce acquired a 51% interest in the KWB Group Pty Ltd which has been a hugely successful investment and is now established as a clear national leader in the Kitchen & Wardrobe renovation market.
Bedshed and KWB Group have been mainstays of Joyce Corporation. Driven by Dan’s passion for building businesses from strong partnerships, both KWB and Bedshed have become highly successful enterprises that have enriched the lives of franchisees and partners, while providing personalised kitchens and quality bedding products to hundreds of thousands of Australians across the continent.
Joyce Chairman Jeremy Kirkwood paid tribute to Mr Smetana’s time at the Company:“Dan’s contribution to both Joyce and the business community in Western Australia should be celebrated,” Mr Kirkwood said.“He has been a constant in the leadership of Joyce for more than 40 years, and in that time has led the strategic direction and evolution of the Company as it managed its transition from manufacturer to highly successful retailer and franchise operator.
Dan has always focused on what is best for Joyce’s customers, staff and shareholders.“Dan’s contribution is not limited to Joyce – he is a highly-respected business leader, previously holding the role of Deputy Chair of Western Power amongst others and being a past recipient of the Centenary Medal for Service to Commerce and the Community in 2003.
Dan is an active philanthropist and has served many not-for-profit organisations, including, St John of God Foundation, the Defence Reserves Support Council – WA, Youth Focus,WASO and the WA Federation of PCYC. Dan has also held the roles of President of the Industrial Federation of Accident Prevention and board member of the National Safety Council of Australia.
“We thank Dan for his incredible contribution to Joyce Corporation and wish him and his wife Julie well in his retirement.”Mr Smetana said: “I was always ambitious for Joyce when we started, but it’s certainly very satisfying to look back and see all that the Company has achieved. I’d like to thank the thousands of people who have contributed to Joyce’s success over the years, including the staff, our management teams, my fellow directors, and our business partners and franchisees.“I also thank our shareholders, many of whom have been with us since we started back in the 1980’s, and our customers, who have put their faith our products and services.”
ENDS
i hold JYC ( 'free-carried' )
where to next i wonder ?
galumay
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Very poor half from JYC, nothing positive to report really, again a lot of presentation of normalised profits, at least they present this both when they stuff up as well as when they benefit from it. (this time it reflects how much better profit would have been if they hadnt wasted millions on a failed business venture!)
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yes , but most of my fellow shareholders DEMAND growth , and it is easy to make a wrong move in business ( some of the biggest do that time after time . ) trying to force growth
bought mine in January 2013 @ 36 cents a share , rescued the investment cash three times over ( and still hold some )
they will probably have a place in my bottom drawer for years to come
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hadn't
galumay
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Thank you kind ser, I dont know if I could survive on SM without your grammar policing! I promise to try harder.
galumay
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A better H2 for JYC providing a reasonable full year result. Another special divvy to use up the franking credits and strong FCF the main positives.
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