Minelab makeing some massive profits
- Thread starter Hunting the yellow
- Start date
Help Support Prospecting Australia:
- Joined
- Sep 4, 2014
- Messages
- 8,938
- Reaction score
- 6,789
In all fairness to Norvic, He is quite use to me jumping in boots first, So I guess he thought that I was on a crusade, I did say a month or two back that I would tone down my comments keeping them neutral and stick to the facts, So I guess he missed that post, But I have bought most of it on myself in the past.
John.
John.
Not sure who the greedy ones are, if you look at Codan's (they bought out Minelab) profit for the year it was only 12% so go figure.
You would have to name those two ex ML employees I know, I am mystified as to who they are, I say again I personally do not know anyone who has lost their job at ML, further I personally know no one that has a job at ML. Even further about this "mystery" I only know one person on this 4M that I am aware of. So until you name these 2 people I know and substantiate your comment, I`ll support myself and ML and say 3 is no fact.
- Joined
- Sep 4, 2014
- Messages
- 8,938
- Reaction score
- 6,789
Wishfull said:
When you think about it, After expenses 12% does not sound much, But that all depends if that is on 10/20 mil or 2 Billion, The difference I think would reflect as to how much that they can put in to R&D.
John.
- Joined
- Sep 4, 2014
- Messages
- 8,938
- Reaction score
- 6,789
Norvic said:
Mate it is not my place to drag them in to this just to prove a point and I have too much respect for them to do that, So lets leave it at that and except that you are right.
silver
silver
- Joined
- Dec 19, 2013
- Messages
- 18,904
- Reaction score
- 25,834
Cmon boys and girls, play nice before someone gets hurt, it's only a thread after all and this is about that point that things go sour at and people end up playing elsewhere for a while, time to show the littlies how real people can kiss and hug n make up, then get on with life normally again. :|
I agree, less kiss and make up RR, I`ll support ML at any time except when it is something I don`t support them about. 
But really we were just having a wee debate, you certainly did not upset me RR. Just Cabin Fever and a bit of sunday sport..............
But really we were just having a wee debate, you certainly did not upset me RR. Just Cabin Fever and a bit of sunday sport..............
You know you do not have to buy ML !
The individual consumer make their choice.
The same could be said about power suppliers how much has your power moved up in the past 5 years.
ML is not an isolated occurance.
The individual consumer make their choice.
The same could be said about power suppliers how much has your power moved up in the past 5 years.
ML is not an isolated occurance.
Ridge Runner said:
Their overall profit was between $20 and $22 m so far this FY according to their ASX report
I should have bought some stocks years ago as they are at $2.14 now.
- Joined
- Sep 4, 2014
- Messages
- 8,938
- Reaction score
- 6,789
Wishfull said:
Yeah that would have been good to have done that, I did think about it about 10/12 years ago but some how life throws a few cured balls at you and you get side tracked.
I'm on another forum for camping and 4wd'ing and a couple of years ago there was a discussion very similar to this 1.
It revolved around the fact that you could purchase on line from the USA , an ARB diff locker and have it shipped to your door for less than you could buy the exact same product from ARB in Australia, there was several $100's price difference.
A rep for ARB came online to try and explain the price differences , which of course he was unable to do with any satisfaction, no matter what sort of spin he put up, it was politely dissected very quickly. After about 3 weeks he gave up and disappeared .
I would imagine that ML would be similar, they don't want to get into a slanging match on a public forum where they have to explain their marketing tactics, just ignore the rabble until the storm blows over
cheers Keith
It revolved around the fact that you could purchase on line from the USA , an ARB diff locker and have it shipped to your door for less than you could buy the exact same product from ARB in Australia, there was several $100's price difference.
A rep for ARB came online to try and explain the price differences , which of course he was unable to do with any satisfaction, no matter what sort of spin he put up, it was politely dissected very quickly. After about 3 weeks he gave up and disappeared .
I would imagine that ML would be similar, they don't want to get into a slanging match on a public forum where they have to explain their marketing tactics, just ignore the rabble until the storm blows over
cheers Keith
I used to work for Codan (in R&D - where I knew and respected the two founders - brilliant engineers), and know very professional people in Minelab.
Both top Aussie companies who look after their staff.
To be the best (and to stay that way for so long) in the world, they plow big dollars into R&D.
Think of all the "one pot screamers" who rested on their breakthroughs, only to go belly up a few years later.
I'll proudly bat on your pro-Minelab team Norvic.
Both top Aussie companies who look after their staff.
To be the best (and to stay that way for so long) in the world, they plow big dollars into R&D.
Think of all the "one pot screamers" who rested on their breakthroughs, only to go belly up a few years later.
I'll proudly bat on your pro-Minelab team Norvic.
Don't give them too much credit.
They're in it for the money like any business.
They are not our mates and I'm sure when they see us,all they see are money bags.
Fanboys only encourage certain businesses to see how far they can bend us over.
It's healthy for us and the business to question them every now and then and keep em honest.
They're in it for the money like any business.
They are not our mates and I'm sure when they see us,all they see are money bags.
Fanboys only encourage certain businesses to see how far they can bend us over.
It's healthy for us and the business to question them every now and then and keep em honest.
- Joined
- Feb 26, 2015
- Messages
- 661
- Reaction score
- 1,140
The only metal detector company to come up with actual new technology in the last decade with a demographic of maybe 1% of the population, how else can they make a profit? Everything revolves around money and realise Minelab have flaws like any company but why the constant bashing this is not constructive nor keeping a big company in check. And anyone running around with a Minelab in their hand is a fanboy whether they like it or not as its in your hand because its the best and you paid the price they asked.
goldwright said:
Very well put .................... could only add that have had several BIG problems with several dealers but each and every time I approached minelab directly it was sorted straight away without drama. Both these occasions involved being given entirely new machines. In one instance I even had the replacement in my hands before the other had even been sent back. ( Note here this was not a faulty machine was purely a pricing / marketing issue)
Given this machine was valued at over 5K not to many companies would do that nowadays. For me I'll take that kind of back up over a cheap price any day
Not sure if that makes me a fan but happy with how they have treated me as a customer ? 100% no risk
- Joined
- Jan 27, 2015
- Messages
- 7,768
- Reaction score
- 12,894
Nice one HTY you've opened up the perpetual can of worms here :lol:
- Joined
- Aug 13, 2015
- Messages
- 1,427
- Reaction score
- 1,281
goldwright said:
goldwright (re; bold/u'lined text)....you are aware Codan, and ML make products for use elsewhere aren't you?....our detectors are just the cream in their business model....their main customers are global companies, Protective Forces and Governments....big $$$ Contracts. We are small change in the BIG picture of Codan the parent company....
As to variable price costs o/seas...compare the A$ now to 5 years ago...there's a big part of the difference. Also, afaik, ML also have to ship the units from o/seas prior to sale so they can insert the programming??? (read elsewhere). This adds to costs (try costing up "container" loads for global shipping and get back on how cheap that is?), and lets not forget payroll, shareholders etc, et al. So it's more than just a cpl hundred $$$ to bring our detectors to us, and without those costs occurring in the first place,...we wouldn't have what we do now....
Hobby groups are one of the harder markets to cater to..we all want "quality" in our hobby items, but many get into hobbies they can't sustain/afford from the onset...(wonder how many boats Aus. banks own atm?...) and each category of hobby has a limited market, regardless of "revitalization" through succeeding generations or member-drive campaigns...and suppliers have their margins to make/consider.
I would rather a company make profits and continue to innovate and evolve, than have them break even and eventually go bust....
It is....what it is. (doesn't mean i am always happy about it either, just accepting the way things are)
Gypsy
- Joined
- Feb 26, 2015
- Messages
- 661
- Reaction score
- 1,140
GypsyGoldAu said:goldwright said:
goldwright (re; bold/u'lined text)....you are aware Codan, and ML make products for use elsewhere aren't you?....our detectors are just the cream in their business model....their main customers are global companies, Protective Forces and Governments....big $$$ Contracts. We are small change in the BIG picture of Codan the parent company....
As to variable price costs o/seas...compare the A$ now to 5 years ago...there's a big part of the difference. Also, afaik, ML also have to ship the units from o/seas prior to sale so they can insert the programming??? (read elsewhere). This adds to costs (try costing up "container" loads for global shipping and get back on how cheap that is?), and lets not forget payroll, shareholders etc, et al. So it's more than just a cpl hundred $$$ to bring our detectors to us, and without those costs occurring in the first place,...we wouldn't have what we do now....
Hobby groups are one of the harder markets to cater to..we all want "quality" in our hobby items, but many get into hobbies they can't sustain/afford from the onset...(wonder how many boats Aus. banks own atm?...) and each category of hobby has a limited market, regardless of "revitalization" through succeeding generations or member-drive campaigns...and suppliers have their margins to make/consider.
I would rather a company make profits and continue to innovate and evolve, than have them break even and eventually go bust....
It is....what it is. (doesn't mean i am always happy about it either, just accepting the way things are)
Gypsy
Yeah but the Government bodies invest money in Codan up front for research and developement thus basically sold off the plan we money in the pocket. Minelab has to do all of their r&d without cash up front with unknown sales to the general public completely different demographic in my opinion.
