The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
That proabably indicates Goldman Sachs have been buying.
Volume uplift today it would seem and obviously helped by trades like this
Nov 13, 2023 14:00:35 526.80p 1,615,284 £8,509,316.11
There was very little not to like in the last update and in fact firing on all cylinders and more to come.
Discount shop with over 100 shops to take over more Wilko stores in weeks – and it’s not Poundland, B&M or The Range https://www.thesun.co.uk/money/24689293/discount-shop-take-over-wilko-not-poundland-range?utm_source=native_share&utm_medium=sharebar_native&utm_campaign=sharebaramp
Goldman Sachs raises B&M European Value Retail price target to 680 (670) pence - 'buy'
£7 soon.
Wait until you see the amount bought at end of trading today. Dropped to 500, what a steal.
That's not the case. Read those results highlights I posted below. They are excellent and they are raising guidance.
Always remember that the City has to get its fill first...
Is it because of competition from Pounland and other similar competition expanding dragging this shares down although good result but future not as bright as it used to be.
Read the results, very pleased with it. Thesis holds for me, let it compound. Would even prefer to see dividend being invested in the business so that part I will convert in some extra shares in dec23. I got in after the big drop of covid19 visiting many stores, talking to some suppliers and understanding that middleclass will keep on looking for bargains as the real debt crisis is still to unfold and TAM of BME is substantial in UK and France. Will not sell one of my shares. The best investments seem to take the least amount of time to check, i will skip the presentation by the CEO. Amazing however to see the unbelievable short term trading noise being played at the market these days and being down 5 % on this RNS. Adyen, I am from Holland, went up 33 % today after CMD last night. My guess is that volatilty is going to go up more and more in the future, that is good for long term investors like me who see a share as a piece of ownership. Will be in the UK soon again and check some stores again. All the best, stay focused and patient.
Trickery would be my guess
Dividend up ,opening more stores and keeping up the dividends nothing negative. Ate we missing something that market knows or is it they expected more or just a trick to trigger stop losses.? Anyone guess
Lets just remind ourselves of the keypoints in this mornings RNS. Then ask yourself if the share price should have gone up or down. Imvho many listed companies would be doing somersaults if they delivered this and it reads that they are raising guidance.
"FY24 Interim Results Announcement
Disciplined profitable growth momentum
B&M European Value Retail S.A. ("the Group"), the UK's leading variety goods value retailer, today announces its interim results for the 26 weeks to 23 September 2023.
Highlights
Group revenues increased by 10.4% on prior year to £2,549m (+10.3% constant currency1)
Group adjusted EBITDA4 (pre-IFRS 16) of £269m and margin of 10.5% (H1 FY23: 10.0%) represents 16.1% growth vs. last half year (H1 FY23: £232m)
Group adjusted operating profit4 increased 19.1% to £263m (H1 FY23: £221m), with statutory operating profit of £275m (H1 FY23: £248m) and statutory profit before tax of £222m (H1 FY23: £201m)
Group inventory in a clean exit position of £856m (H1 FY23: £837m)
Group cash generated from operations was £352m (H1 FY23: £370m), reflecting a normalised working capital movement with strong stock availability ahead of the Golden Quarter across the three fascias
All fascias trading well with positive transaction numbers and new space growth
Now expect to reach not less than 1,200 B&M UK stores in total, vs. previous guidance of 950
Opened 28 gross new stores across the Group (13 in B&M UK, 10 in Heron Foods and 5 in B&M France). Total average selling area increase continues to outpace the increase in number of stores
Net debt7 to adjusted EBITDA4 (pre-IFRS 16) leverage ratio of 1.1x (H1 FY23: 1.3x)
An interim dividend6 of 5.1p per Ordinary Share will be paid on 15 December 2023 (H1 FY23: 5.0p)
FY24 Group adjusted EBITDA (pre-IFRS 16) guidance, increased to be in the range of £620m - £630m, materially higher than FY23 (£573m)"
Have to agree with you that point and if you go by M+S's example yesterday then it should have gone up on opening and decently so given what's been delivered. But definitely not complaining at the opportunity and I personally think Heron Foods has got legs.
Possibly the difference might be down to FTSE250 tracker funds versus FTSE100 tracker funds. Maybe Premium Listing also but I'll need to check the status of both companies on that.
It's a well managed company, the Golden quarter ahead and the dividend will be an added bonus for me and whoever else is working themselves a position.
Onsolidground- Thanks. Yes look like market maker/ manipulate at the game to shake out and buy on the cheap.
Don’t understand why M&S was 10%on news and this 5%down
Todays numbers would please many a company with improved growth EBITDA and a dividend so it will no doubt be somebody trying to work themselves into an advantageous position on the cheap with the Golden Quarter ahead. It won't be the first time. Nor the last. Just pleased for the opportunity.
Well I've just read the results and they look are a very strong set of results and with a dividend also being paid as a bonus and with estate growth also planned so will look to onboard here in stages. I actually thought it might open up and I'd miss my chance, but you can never guess markets and I am not going to say no to the opportunity.
Group revenues increased by 10.4% on prior year to £2,549m (+10.3% constant currency1).
Looks good but SP down. Was the market expecting even better?
GAME SET MATCH. GL everyone.
Interim dividend announcement tomorrow, the Special Dividend usually/if announced Q3 update, which was early Jan this year, the 5th I think. Check legacy RNS’s.
No
If they are buying Wilko stores will they pay special dividend in November?
585 to 520, based on nothing. Shenanigans expected before trading update in couple of weeks, was expecting this next week.
Obviously, no one shops at B & M nowadays. £7 soon, he is one of RS mates.
New discount store to open in DAYS to rival B&M and Poundland https://www.thesun.co.uk/money/24500592/new-discount-store-opening-rival-bampm-poundland?utm_source=native_share&utm_medium=sharebar_native&utm_campaign=sharebaramp