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Non-Tech : GRIN (Grand Toys International Inc)
GRIN 27.33+0.1%9:34 AM EST
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To: 2MAR$ who wrote (254)8/22/1999 10:58:00 PM
From: Frank McVerry  Read Replies (1) of 495
 
Things I like about GRIN

* 40 year track record in the toy business.

* Record first-half earnings in '99

* No long-term debt

* Survivors - In 1998, GRIN went through one
of the worst annual depreciations of the Canadian
dollar in many years, yet they finished the year
actually buying a small US toy manufacturer (ARK).

* Great product line-up - examples are Furby (plus its
offshoots of babies, beanies and French-speaking),
WCW etc. New lines of toy collectibles from Majorette
and Solido for which GRIN has exclusive Canadian
distribution rights and should improve growth due
to the different customer demographic. Other new
and old toy lines such as Jellabies and Spiderman
which will both be strongly supported by new TV
series starting in the Fall

* Diversifying into non-toy distribution (Grand
Concepts) which went from nothing to about 10%
of sales in '98. This business will help them reduce
the seasonality which is typical of the toy sector
and also bring new growth.

* New manufacturing capacity - ARK gives GRIN
the ability to manufacture high profit margin foam
toys and sell them not only in Canada but market
them in the US and beyond. I have high hopes for
this new line, based on the success that the then-
independent ARK experienced in 1998 with their
exotic parrot puzzles and their beautiful but expensive
$100 foam model of the Titanic which they produced
in inadequate numbers to meet heavy demand.

Enough said, and I didn't even mention the P-word !!

Still long,
Frank
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