Another Montgomery Investor Wins
Australia, it is said, loves a winner, and I must confess it would be irrational at Montgomery for us to celebrate anything less. Our investors should demand, over the long run, a series of wins that compound to maintain or increase their purchasing power. That’s our job and so we aren’t backwards in coming forwards when we ourselves rank Number #1 or Number #2 in the fund manager rankings – as has been the case recently.
What you might not know, however, is that we are equally delighted when we hear that our investors and their businesses have cause to celebrate too. And when those winners come from relatively remote places in Australia, we are doubly excited, because Australian business needs a hand and regional Australia needs all the help it can get. Wake up Canberra.
You might recall that back in August we brought to your attention Matthew Nicholas, an investor with Montgomery and a fifth generation butcher down in Geeveston, Tassie, who took the top prize at the annual Wrest Point Hobart Fine Food Awards. Matthew Nicholas, from JB Nicholas and Son Pty Ltd, won the Richard Langdon Trophy for the best exhibit in show from more than 1400 entrants with his tasty traditional cooked-on-the-bone ham.
This week we heard of another victory for the Montgomery family of investors. Greg and Fiona McLennan’s Kiewa Valley Sports and Spinal Physiotherapy practice (KVSSP), in the lovely town of Mount Beauty in North East Victoria, took home a swag of gongs from the recent Alpine Shire Business and Tourism Awards.
KVSSP was judged by an independent panel as the winner of the Excellence in Professional Services category. And as if one award was not enough, they were also a finalist in the People’s Choice award and…drum roll please… Kiewa Valley Sports and Spinal Physiotherapy was named Business of the Year – across all categories!
Well done Greg and Fiona. Congratulations to you and to your business. We hope it continues to grow and prosper and thanks for the nod to Value.able too!
And I hope you don’t mind, Greg and Fiona, I really liked what you had to say about how Value.able helped you in running your business, so I have repeated it here as I believe it might help others who are running their own businesses:
“Valueable has given our business a considerable edge – and has helped us avoid making costly mistakes…One section in Valueable in particular struck a chord and is one where some practices risk considerable financial loss which is on Pg 91-92. It refers to someone that buys a shop which produces a ROE of 40%, then the person goes and buys another which for a number of reasons produces a much lower ROE. Physio practices commonly look to geographical expansion as a way to grow and I think sometimes do so without really exhausting all they can do in their initial practice. So they ignore considerable opportunity to increase the returns in their initial business before looking to expand further, and that’s before they take on all the risks that expansion entails – and they are considerable in this field. So for us, the better investment has been to enhance the value of our existing practice through various means, then buy units in TMF and go fishing. Happy days!”
Greg McLennan
:
Hey, thanks Roger!
Value.able has been great for us over the past few years. Though it was written in the context of identifying and valuing stocks, it gave us things to focus on in improving our own business which has given us a big edge and allowed us to improve our practice offering.
Thanks again!
Roger Montgomery
:
I am incredibly excited to hear that Greg. Thank you.