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Not tempted to Sell yet...espeically after FTSE just reached a 3 month high and today's announcement that Inflation has dropped by more than expected..It's all positive at the moment! GLA
Anyone tempted to sell during "Santa Rally"?
Maybe it is a lot simpler - perhaps a a few shareholders have told Tim they want out and Tim thinks it is good business to swallow up the shares using debt; we have just seen one major shareholder drop below 5%.
I'm still pondering why, strategically. I can only think Tim wants some dividends, unless he is considering carving out the hotel business under a separate listing?!
JDW intends to buy back 15% of its stock which at or around current prices will cost £152 mill., and in theory (though in practice the theory doesn't work - see endless pointless discussion on the LLOY board) would have the effect of raising the SP by a similar 15% proportion. In reality, since the 4 Dec the SP has risen by 10% , though IMV that may well be unrelated, more likely due to positive vibes about Xmas spending?
The other point is to note that the cost of buybacks (say £150 mill) is equivalent to almost 3 years of Pre-tax profits, so is it being financed in part by the agreed borrowing of £200 mill at 5.7% detailed in the prelims?
Whatever , I hold here and have said on a few occasions, will do so until £10 , I am revising that view and may well after Xmas checkout if the Sp reaches the £9 area.
Sure thing shaun, buyback can only be done by the profitability endowed. No probs here is advertised, nay, flaunted.
That's roughly 3.3M shares repurchased in the last week. At the start there was 128M shares in issue so in the last week alone the company has repurchased approx 2.5% of the company's shares in issue. That's a very aggressive repurchase rate by anyone's standard and surly a sign that Tim sees the company in a very healthy position currently as well as in the long term. GL all
Tim hates the city, he has always done his roadshows in jeans and t-shirt which you could say is a shown of disdain - he really doesn't care about returning cash to shareholders, he just wants to grow the empire. A bit like Mike Ashley (like or loathe)
As a private investor, I am happy, and will wait patiently for the capital returns
I was just thinking that if jdw is flushed with everyone's beer money, when will we get a slice of the dividend?
Big Punt, your estimation on any future dividend would be received with high confidence.
Tim must be very happy to have these short positions working for him free while he mops up his own shares cheap
19 million shares are authorised to be bought back in total. Hugely positive and tells me they are making a lot more money than they have ideas what to do with
Definitely positive. Another 930k buy back today, considering only 128M shares in issue this is quiet a substantial amount, especially when coupled with yesterdays purchase. The fact the company are starting to load up the buy backs at the current S.P is a massively positive sign for the future IMO. GL all
A positive sign!
Well i missed that RNS too, if it was RNSed, good news regardless.
Was a £1M buy back expected, or did it come out of the blue?
I don't recall reading anything about it.
Is it a one-off, or the start of a trend.
It helped the SP y'day.
Do they say when this intriguingly-negative assessment will be fulfilled? Or is there another agenda?
Inflation results had a big impact today. Looks like Tim is using repairs and maintenance of the estate as his key lever on the balance sheet. I'm assuming dilapidations gets included here. Strip outs for landlord hand-backs must be costing a few quid
As the actress said to the bishop
Https://finance.yahoo.com/news/j-d-wetherspoon-plcs-lon-051020734.html
An excellent performance in Q1 and across all segments of the business. I anticipate further investment in the accommodation segment as this is the most profitable area of their business.
Seems a good update. Its a minor point but why are they not 'pleased' to publish its update? In the fine art of reading between the lines of RNS's that word is generally the first thing to look for!
10%ish LFL revenue increase but higher that pub trade average ~5%. Refinancing slow and steady, interesting to see it shows interest rates coming down over the next year or two.
Very steady as she goes, after 40 years, guess that’s what got Wetherspoons to where it is today.
You're getting closer! I have done a 10% slice at gain: I look forward to a much higher sp , but, you know, markets. Imo the company is worth a lot more than this but we shall see.
I'm averaging 704 hope it doubles ....I can dream
'Far as I can see, Merrill lynch have increased their holding (well you would at those prices). Others, correct by all means.