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Results for the 28 weeks to 12th January throw up some very interesting new stuff. Dividends to be resumed, a nice windfall for Mr PG. Highlights include; Net Debt down 64% to £1.49Mns; Gross revenue at £23.53Mns; Earnings Per Share ("eps") 4.3p up 13% from 3.8p; Czech operations ahead of expectations. Although good set of results they are tinged with a forward looking statement suggesting that current trading is in line with market expectations, so sp should not perform that spectacular but a small correction needed.
Will be moving its entire production facility to a self operated 5000 sq ft facility in Tabor. The labour cost savings will be 2/3 current levels, offset by increased freight costs, but overall a cost saving strategy. This production will be the largest of its kind in Europe ans is the first of a major worldwide expansion programme. Has announced a profit of £1.25mns after the seciritisation of its Lowmoor warehouse facility. Some sp upside predicted. A worthwhile long term investment in my humble opinion.
Mr R and Mrs Amanda Persey between them hold 1.044Mlns issued shares representing 9.28%. The shares in SWL are very tightly held.
Mr J Wardell recently advised the Co of his reduction in his holdings in the issued share. Mr Wardell has now informed the Co, that he will not be seeking re-election as a director at the next AGM. In view of the large holdings and Board reshuffle, my guess is that there will be more corporate news regarding the intentions of the major Holdings, hopefully leading to an increase in shareholder value.
With finals out today Peter Gyllenhammar is in for a nice divi windfall, divi is set at 1.3p/share (he owns 29.1% of the isc). Net debt is down 32% to £4.88Mns from £7.13Mns; Operating Profits have come in at 122% higher at £1.32Mns; earnings per share turned positive to 3.9p from a loss 2.4p. All in all a nice set of results. The results notice small print reveals some very interesting developments.
SWL. Followers of this stock informed today that PG's Significant holdings increased from 28.9 to 29.1% of isc. The takeout of SWL looks more likely.
SWL. PG is a very wealthy and seasoned Icelandic investor. Some of his holdings include TGP 11%, HTH 22.1%, VIG 20%, CRU 28% et many others.
SWL. With a strategic major holding of 28.03% Peter Gyllanhammer has had enough of this underperforming/potential stock and now has a platform from which to launch a full takeover.
SWL. Has decided to establish a manufacturing base in Czech Republic where engineering and production skills are renowned said a Co spokeperson.
rns released saying that peter gyllenhammar has increased holding yet again, and now holds of 25% of company. I have no shares in these,but am tempted now after this. Any other thoughts anyone?