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Since then the share price is behaving much more as one would expect after the recommendation.
Was thinking of buying more stock, being 25% up on by buy six months ago.
That is until I read on yahoo finance that EPS is forecast to decline by an average of 14.1 % for the next 3 years. and that its high debt is not covered by operating cash flow.
Time to cash in rather than buy?
The new name seems to lack the dignity and gravitas of its predecessor but no doubt the Board will be hoping that they have captured today's zeitgeist - whatever next!
Utterly ridiculous, especially when combined with management-speak justification like "The Board believes that a more modern brand and name reflecting these changes will also help shift the narrative with all our stakeholders towards the Group's strategic direction of travel. This is aligned to our updated purpose, 'to keep customers moving, smarter'.". At least they're not changing the trading brands, so hopefully any corporate reputation damage should be minimal. Not much point saying any more about it, this site will have disappeared from LSE in about 10 days time to be replaced by a blank ZIG page, see you all on the other side. FYI, sites like HL port the "old" information across when names change, so you'll still be able to track the history of REDD on their new ZIG page, unlike LSE where it's effectively lost to viewers.
Have been a supporter of this company since 1990’s but I think the name change is ridiculous
What does it mean or stand for nothing - better putting the energy into growth!
Forgot to add I like NAV which shows that debt is more than well covered , much of the NAV is in vehicles which are easy assets to sell and normally REDDE sells for above the booked price shown in the NAV
Having owned REDDE since Northgate days and believing in the synergy of the merger it has been good to see (after initial hiccups) the year on year growth in both T/O and profit since then, the statement today says that has continued into year end 24 (final results in July but looking good).
Redde has proved to be not only an excellent value share but also a growth share, through the Covid downturn, and high interest rates (to which Redde is vulnerable as it has large borrowings to finance vehicles). Well done
I like still low PE (around 7), Good Div (around 6%) increase to come?. Vehicle supply in UK now improving (this has been holding REDDE back in UK) better supply in Spain shows in most recent growth there.
I dislike the proposed name change, ugh!! and any attempt to buy Halfords as a whole unless in a fire sale or some of it's sites which will suit REDDE site expansion plans for greater geographic spread
"As a result of the continued momentum in the business, we would expect to report full year results in early July towards the upper end of the consensus range."
Only £5 hheheheheehe
£5 price target......
Still don't understand the initial interest in Halfords at the initial terms that were whispered in market.
I'd rather they stay away from Halfords. I suspect any offer won't be well received by the market and RN share price will be hit.
Still don't understand the initial interest by RN in Halfords.
Maybe Zig and Zag the nineties Irish puppet duo? What a daft name and waste of money. Redde Northgate sounds far better than Zigup.
Is now the time to make offer that will be accepted? and should we anyway?
Bring back The Spice Girls:- "Zig-a-zig-ah"
CRACKERS
How much does that cost? Somebody on the board is bored!? Probably because no success with the Halfords bid failure!?
Would love to know the other suggestions that were rejected....
Share price up 1%, obviously the market loves Zigup!
🤷🏼
Is it April Fool's Day? No? It must be true then. Redde is changing it's name to ZIGUP. Which marketing wizard came up with that one?
Yes I agree with you both, all seems to have gone quiet on that front now. SP rising nicely here too ahead of the next trading update.
Yes, I hope not...well not at these valuations
hfd isn't worth a £1/share imv (bugger all tnw; highly indebted; precarious business model)
Hope not Krusty. HFD have very little tangible BV, cash and return ons. I wouldn't touch them with a barge pole, so don't want acquire them indirectly. I've had enough of this with MNDI merging with SMDS (RNS today).
Good oil + used oil = used oil
Don't feel sorry for them jolly, they'll be pushing their poison somewhere else if they get burned here.
I notice Halfords had a shocker of a trading update last week but Morgan Stanley are now buying the share, could it be they think an offer might be incoming? REDD were rumoured to be eyeing them at one point. Should be able to pick the business up at rock bottom price if they decided to take it any further now.
Almost pity 'em
they are great at finding and exploiting shorting opps, but terrible exiting