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10% rise before lunch. This is more than a minor correction. Must have been triggered by something, but what ?
For a major recovery. Price is very strong and market makers wanting stock
Ecommerce sales grew by 5.6% over the last year, following improvements to its multichannel offer. Laura Ashley said that online sales of £57.3m in the year to June 30 were up by 5.6% on a like-for-like basis, which strips out the effect of store openings and closures, but overall like-for-like sales were down by 3.1%. Total retail sales came in at £252.0m during the year, down from the £363.2m recorded in the previous 74 weeks. Does anyone know how its first stores in India which opened in September 2016 are doing ?
This showed strong signed of a recovery Friday. Can see these over 10p next week
Does anyone know how the Chinese website is trading since inception in November 2016 ?
The latest line of aprons, gloves, hats and tools, a darling blue and red and green floral pattern called Caravan Daisy. The line also includes padded kneelers for when green thumbs are digging in the dirt. "You can keep the lifestyle you want to live, but it also has to have quality and practicality attached to it," said Penne Cairoli, Laura Ashley president.
.... no evidence that should read.....
My friend, you could say that about any holding, I'm afraid that there is evidence to support your wishful thinking.
this is and will potentially recover. If you feel that way is it not time to move on?
an eternal optimist!
yes but earnings per share down 2/3rds this year unfortunately
You may be right but by the same token any potential buyer will not want to pay much for a failing business which they know KKP wants to offload. More Lemmings buying today I see.
The Chairman - Khoo Kay Peng is aged 78. He owns/controls 61% of the total shares in Laura Ashley. I think he will put the business up for sale!
It's not all bad news.... the company maintained it share of sales and ACTUALLY made a profit - albeit reduced. The question is who is going to make a play at buying/taking over this company? The chairman/major shareholder will probably be looking for an exit, because of his age - will this happen over the coming months or years? Who may buy it and at what price?
Roughly - cash at the end of June 2016 was £5m, cash at the end of June 2017 was £-10m. Negative cash flow of £15m which basically equates to the £14.5m interim dividend payment. If no dividend is paid then cash is neutral. This property in Singapore to me is a problem. If the debt is being serviced from UK funds then the cost of servicing that debt is much higher because of the exchange rate drop since the Brexit decision. Exchange rate at the time of acquisition was $2.12 SGD = £1 GBP and now it's $1.74 = £1. Agreed monthly payments of $297k were equal to £140k at the time (RNS 30/06/2015) and now £297k = £170k. More than 20% increase in cost (in GBP terms) AND a reduction in the valuation of the property of around 8%.
This is way oversold so will be expecting this to recover over the coming weeks
They have a business plan but nothing stands out. I really don't see any reason for the early afternoon buying activity today, probably based on lack of knowledge and an excess of hopefully punting. Nothing to do but sit it out if you already have shares, not looking great though. As I said they really need to look at themselves hard and develop a USP range so that people know what the brand stands for. It could be great again but will need a management team with far more vision.
Increase in short term borrowings to cover the cash flow hit. They don't have a full report on their website so I can't see the note for where this has come from yet.
Not trying to de-ramp here but has anyone actually looked at the financials? The company only generated cash flow of £5.8m in 2017, however it has short term borrowings of £12m to pay back this year. How the hell are they going to pay that back?! Also, even more alarmingly, it appears to have a negative cash balance of £10.7m. Just look at the dash near Cash and cash equivalent and then go to note 4 to see the breadkdown. No wonder the board halted the dividends, they had no choice. You guys need to look at the financials or risk being seriously burned. Any else agree/disagree with this? - also posted on AVFN in hope of reply
But overall better than expected considering the preamble last week
Dividend scrapped.
Not till October where I'm looking
It should be pointed out that US business is not owned by Laura Ashley Holdings. They divested it to MUI more than 15 years ago.
What will restore confidence and support share price is scrapping dividend and conserve capital.
If it is paid, this should restore the share price!