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Started: BubbaBubbaBubba, 23 Oct 2023 21:55
Last post: BubbaBubbaBubba, 12 Dec 2023 20:49
20% voted against management would like to see who
They should offer to buy back shares via a tender offer
Buybacks were approved at the agm
They use £2 million to buy back shares
Tender offer?
Agm today hopefully buybacks soon and the tender offer announced at a premium
Maybe, but still don't get the investment case here.
They operate in very competitive markets with branded players with deep pockets to invest heavily in marketing spend. What do they have to offer to win there? Their prices are quite low, gross margins are too low aan their marketing spend (way too) small. Meanwhile rest of OPEX is quite high still.
I can't see this go well without a massive shift in strategy
Started: 4theLongterm, 1 Dec 2023 09:18
Last post: BubbaBubbaBubba, 1 Dec 2023 16:39
Great news mate
Looking forward to an agm trading update
Still a wash with cash
Great to see that this has been settled in full, removes an element of uncertainty for the SP
Started: TheFatGeneral, 1 Aug 2023 05:11
Last post: shandypants2, 9 Aug 2023 15:43
Wow - good spot.
Just googled the article - link below.
Have to say i've been quite impressed with Skinny Tan. BAR has increased it's coverage in a number of supermarkets and some of the smaller Boots are now stocking more lines.
https://www.smartcompany.com.au/finance/mergers-and-acquisitions/aussie-suncare-bondi-sands-acquired-japanese-beauty-giant-kao-group/
As an example of how valuable some of these brands can get/become once they reach scale. Bondi Sands has been announced as having an all cash $450m takeover (~250m pounds).
Started: 4theLongterm, 20 Jul 2023 11:34
Last post: shandypants2, 20 Jul 2023 17:09
Yep a welcome update. Not out of the woods yet, but to stop burning cash is a massive positive. A £9m valuation with £8m in cash suggests there is much upside if BOD can make this profitable
Really positive to see that the legal case has been resolved and there is still c£8m in cash, so cash neutral over H2.
Good movement in the SP today but there is a lot of ground to recover.
Started: Dad413252, 21 Mar 2023 12:03
Last post: shandypants2, 22 Mar 2023 17:50
however, they did have £17m cash this time last year and are still loss making. If they can turn a profit this looks great value. If they just keep spending their cash to prop up a loss making business then maybe not.
Looks like they have turned the corner, backed up by 8.1m net cash against market cap of 9m
starting to look positive
Started: ChrisTypeR, 27 Jan 2023 13:15
Last post: BoracicLint, 27 Jan 2023 14:15
Yes, it is odd. Can't see a reason: no new director buys or broker upgrades and no RNS for the past 3 days. The last one was about the CFO being poached, which is (a) now old news and (b) probably not good for the SP. Maybe there'll be an RNS after the close?
Price currently showing as near +30%
Still a long way off my break-even point.
I wonder what's behind the rise...
Started: shandypants2, 30 Nov 2022 16:41
Last post: threeputt, 21 Jan 2023 13:44
I was interested in this one post lockdown with the beauty business, once they bought IDP I lost interest and put on my bargepole list as I thought it was a terrible move, how right I was in hindsight. I guess there is a chance of a turnaround from here but now of course we have a recession looming and beauty treatment might be the first thing to be culled, might be priced in now but I doubt it. 10p may interest me
Yep, notice roots double effect is closing down (according to website), just clearing old stock via Amazon. For Nuthing - no longer doing online orders... - very much a slash and burn approach. I thought the whole idea was IDP had brands needing investment and BAR had cash -appreciate it's economically very tough, but the contrarian in me says now is the time to invest
this company seems very poorly run. The have "brands" with low gross margins and therefore no ability to invest in marketing, whilst operating in competitive markets. As a result these brands decline continuously. The business then does not have critical mass and things go from bad to worse. It is just all very ill conceived IMO.
i notice that Boots don't appear to be stocking this in stores anymore (although it is still available on the website). Superdrug dropped this about a year ago.
Such a shame as when the brand first appeared it did almost £1m revenues in year 1 from a standing start. Since then revenues have slowly declined despite it being picked up by Boots.
The old IDP brands are now Skinny Tan only really as the other brands (Charles +Lee, Roots and Prolong) all seem to be dying
Started: shandypants2, 8 Nov 2022 09:43
Last post: TheFatGeneral, 9 Nov 2022 11:55
Rewatched the recording. Telling comment was right at the end …”we expect profitability in 23/24” weird turn of phrase if you think it would be this fy -would just say 23 or fy23, so my base case is given they’re already 5 months in (& past the peak sales period for ST) then it appears they are already well behind/forecasting a loss for this FY. (Prob why they haven’t said anything, hoping it’ll turn around).
I note Peter Gyllenhammer keeps buying, looks like a good strategic shareholder to have on board, but wonder who is selling out
they can actually as it's outside market hours (so can then be RNSed at 7am tomorrow), however, surely this would have been included in today's RNS if there was anything to say.
they can only give new details if announced in an
RNS before the presentation
Interesting to see if it's in the update today 4.30pm UK time. Very little detail really in the report re current trading.
Are the BOD trying to run this company into the ground? We already knew the results so the outlook statement was of particular interest, however, there was no positivity here at all and no mention of trading in the c4 months since YE. One can only conclude trading is still poor.
This company is now valued at £7m, yet has net assets of over £31m, excluding the non tangibles it still has net assets of over £12m. Last year cash used in operations was c£5m so essentially a loss of a similar amount is already factored into the current price.
What a shame
Last post: TheFatGeneral, 5 Oct 2022 16:39
So can't help but notice the merger presentation said that Edward Beale would resign once the half year results are announced in late September... It's now early October, what's happening???
this is like a slow death. SP slowly drifting down and no news coming from the company. Guessing we will have to wait for YE numbers hopefully later this month
really disappointing - unfortunately i did fear this, as per my post last week.
Sales at H1 were £7.4m with a loss of 1.1m, so H2 has seen revenues decline even more and so i can see a YE loss being well over £2m, possibly £3m with the acquisition costs included.
The IDP element only generated £800k in June which is also a concern too as this is a peak period for Skinny Tan so i would have expected that alone to be over £1m and maybe £100k from the other brands.
Cash is just draining away too. Cash was £17.3m on 31/12 so it has declined £6m in the last 6 months. The IDP payment was less than £2m and probably £200k in acquisition costs, so the business has burned through over £3m in the last 6 months.
The only slight positive is that the SP has not declined further - although it has slipped so much over the last few months maybe some of this was already factored in.
Poor results, organic sales down 16%.
Cash in the bank is positive
Route forward as suggested puzzles me as it doesn't address any of the issues mentioned that explain -16%
Started: shandypants2, 13 Jul 2022 13:57
Last post: shandypants2, 13 Jul 2022 13:57
based on the CRL rns yesterday and the increased cost pressures i'm a bit worried about YE for BAR.
H1 was pretty poor for BAR and if CRL had issues in H2 i can't see how BAR could not also.
Hopefully Skinny tan would have had a good peak season (Apr to Jun) as the weather was good, no lockdowns and holidays resumed, however, with the takeover only completed at the end of May assume only a limited amount of revenue will be included in H2 numbers.
Started: shandypants2, 26 May 2022 16:13
Last post: FrankyS1971, 27 Jun 2022 19:08
Major consolidation of range needed and cost out initiaitves invested in. LT turn around. Some decent products but too many loss making. Not sure about existing board abilities to deliver this. Need to come out of probable recession a leaner and fitter business. Not one to trade or invest in but worth a watch for now IMHO.
judging by the SP there doesn't seem to be much market confidence in BAR's new story.
A merger between 2 failed entities doesn't mean that the newco will be any better off. Leveraging each other's distribution makes sense but only if the products of both companies perform well in the market place and they don't. They seem to me to be present in competitive categories and their low margins do not allow for lots of marketing investments
so the takeover has now been approved. The enlarged company is currently valued at least than £20m which on paper seems cheap, however, currently these are 2 loss making companies.
We need to see revenues increase - get BAR products in Boots/superdrug and improved OTC offering which is IDPs strength and get IDP in groceries which is BARs.
Cost savings were quoted at £1.5m p.a. so these need to be materialised too
Started: champagnecharlie, 31 Mar 2022 20:27
Last post: LGO-fan, 17 Apr 2022 08:50
I agree the fall in SP is due to the poor sales performance. In a wat this M&A is a big admission of failure of the company's strategy and so the merger to me seems like a marriage of 2 otherwise doomed companies.
I can understand that their DTC approach failed miserably and hence this merger makes sense from that POV; that's a positive.
Still sitting on the sidelines with BAR: I need to see how they will step change the GM% profile of their brands before I consider buying in. To me this is a company with small brands, margins akin to private label and no room therefore in the P&L to grow. Without a solution here, this will never fly. But, fixed it, and this could be a fantastic opportunity
The fall is due to the poor results of BAR I think, not the merger of IDP.
Dropping margins due to shipping makes sense but Revenue of -20% with a poor excuse is a red flag imo.
Fall is in my view overdone. Market cap post-merger will be c£23m FD, of which cash say £7m net of pension fund exposure - and cost synergies alone are f/c to add £1.5m-£1.75m pretax, not to mention sales synergies and cross-selling opportunities. I acknowledge that quality of management has come under fire latterly, but fully expect to see positive evidence of real turnround within the next 12 months and a share price of 150p or better within 2 years, perhaps sooner. Have bought today.
Three TR1's today for more than 29% of the Company and the share price drops 24%. Does anyone have a theory as to whats going on.
Started: lemonade311, 31 Mar 2022 15:29
Last post: threeputt, 31 Mar 2022 16:02
maybe market doesn't like merger with Innovederma, can understand that
> Revenues for the period of £7.4m, a decline of 19% on the prior year (£9.0m) as a result of delays to brand relaunches landing in store and planned product range rationalisation.
Why would delaying a launch of re-branding cause revenues to drop 19%?
Sounds like excuses. There were no lockdowns in this period. Terrible revenue drop.
Started: Nutmegmilk, 11 Nov 2021 12:36
Last post: LGO-fan, 7 Feb 2022 14:09
historic baggage that could be dealt with provided the underlying (commercial) operations start to deliver. And again, here I see a massive challenge due to low gross margins, not leaving very much cash to advertise. Mind you they are in competitive categories.
It seems to me this is a business that one day had an strategy, and margins, like a private label business. They brought in some new staff to turn it into a proper branded business but despite their new 2025 strategy they don't seem have to the means to achieve their ambitious. They are in a catch22 and will need to have to crack
some hard nuts before this business will significantly start to perform better (and reduce their pension deficit).
I also worry when I see that the CEO seems to have no AIM experience....
what's your thoughts on the pension deficit ? the one element that stops me investing atm
How though? Their gross margins do not allow for any meaningful investments. Private label has better margins ....just saying
Share price is merely an entry price. Anyone getting in now is buying cheap shares in the bargain bucket range. MCAP same as cash balance. Project 50 on route this will turnaround.
sp is in a hopeless state
Last post: pedro61, 29 Aug 2021 12:37
Now is a great time to invest before Simon Thomson of Investors chronicle does his piece on the company.So cheap at the moment.
Ap good timing
Great stock for the future here
Market build up, momentum beginning to increase FY results due September. Good market adds for Specialist on Television. I added to my holding in the dip to 170.00
Started: SMann, 10 Mar 2021 16:51
Last post: pedro61, 11 Mar 2021 11:03
Simon Thomson knows a bargain when he sees one.Plenty of buying already and not much selling and Investors Chronicle yet to hit the newstand(friday)This should have a long way to go till fair value.Great time to be getting in,if you can.Really like this share,could easily multibag with plenty of cash and great management.One for the short term and long term.
I have just checked and Simon Thomson has done a piece on the share,10 minutes ago..He states a cash pile of 110p per share and hes expecting big things next year.He states that he is very bullish on prospects.I cant wait to see the market tomorrow ,as he has a huge following.Theres bound to be interest.
Simon Thomson from Investors Chronicle thinks highly,so expect an update shortly and then see where the price ends up.
Came across this BAR and had a look into.
Current MC c.£30m is optimistic for where the company is. £9m t/o, £0.4m NP. Not much FCF.
BS distorted by cash proceeds from manufacturing operations sale. This will be quickly spent to market the stable of brands and likely to require a placing of shares to support marketing of brands in future.
Interesting play but probably worth a punt at half the current MC
Last post: pedro61, 9 Mar 2021 13:51
Fantastic Results.Much better than anticipated.This s.p.is so low and has so much potential to multibag in a short space of time.I expect Investors Chronicle will do an update and recomendation,which normally propels the share price up .Now a very good time to get in .
Bit nervous about results next week hopefully they’ve done better than the first lockdown,
it was all looking quite rosy leading up to Xmas so hopefully they’ve found a way to keep
momentum going with many shops closed & people not sprucing themselves up as much
during lockdown.
Anyway still think long term this will come good ..
Started: Dad413252, 2 Dec 2020 10:33
Last post: Dad413252, 2 Dec 2020 10:33
Looks quite promising
Started: Dad413252, 26 Nov 2020 13:01
Last post: Dad413252, 26 Nov 2020 13:01
With his Yardley experience looking like an excellent appointment .....
Last post: Dad413252, 20 Nov 2020 21:40
Value starting to be noticed.....
Started: Dad413252, 19 Nov 2020 13:42
Last post: Dad413252, 19 Nov 2020 13:42
Nice 50k buy
18 million cash at time of results /Market Cap 22 million
Soros fund management 12.3% stake (30/Sep)
Improving online offerings
Hopefully Xmas orders are improving & the company have turned the corner ......
Started: Tiptree, 1 Oct 2020 16:42
Last post: Tiptree, 1 Oct 2020 16:42
Convinced that price doesn’t stack up against potential and current value. What’s happening?
Last post: surprised, 15 Sep 2020 10:01
someone's loading again :-)
Last post: surprised, 17 Aug 2020 17:31
;-)
Hi Chas, lol, spread could do with tightening and I'm sure it will as the penny drops as to Bar's potential from down here....positioned nice and early along with PG investment who now hold 5.25%, they see the opportunity too :-)
I will be joining you here shortly once I have got a small pension transferred to my Sipp. Not complaining as following you has worked wonders to my Sipp, just would be grateful if you could find a company that had a tighter spread!