Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
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Don't worry, there are plenty of opportunities out there. Share prices are well below intrinsic value and what took place at N Brown today will soon happen elsewhere.
I may be wrong but I'm detecting a change in sentiment in UK small cap world. Previously shares were getting hammered on results unless it was a really big earnings beat. Now these shares are so smashed that even half reasonable results are getting rewarded. Sentiment is swinging!
Look for decent but beaten-up small caps yet to receive this boost.
Ok results.?
Profit before tax is up 46%.
Net asset value is 96p a share.
Divi resumption for 2023
It’s simply far to cheap.
Had to start a rerate. Even at 30% up it’s still trading 60p below NAV.
Amazed at the price action here this morning. Ok results and inflationary pressures getting higher yet shoots up like it’s the best news ever. Oh well opportunity missed
Just a bit! I'm rubbing my eyes - hello N Brown!
The market seems to have liked the results !!
More positive press
https://fashionunited.uk/news/business/n-brown-posts-growth-across-strategic-brands/2022051863136
https://www.insidermedia.com/news/north-west/revenues-fall-at-n-brown-group
Very happy with those results . Excellent news on the dividend. Ridiculously undervalued here. Sit back and wait.
Email nbrown@mhpc.com for weblink and access code for presentation @9am if wanted
Even after the provision;
NAV per share - 96p
NAV per share completely excluding intangibles - 71p
Almost 3x the current SP, utterly absurd
A reminder that the BWNG Div in 2019 was 7.1p and in the previous year was 14.2p when interestingly adjusted profit before tax back then was similar at £83.6m and the statutory profit before tax was just 16.2m. i.e. lots of scope for a resumption of a meaningful dividend. Good luck, Brighty
My mistake, better news then!
Actually, it says FY23, which is the current financial year (note that final results in the RNS are for FY22).
Ratio*
Debt ration sitting at 0.5.
Current ratio sitting at 5.25
Cash ratio at 0.34
Equity increased to 442,300 from 416,800.
All pretty strong!
* Year end active customers increased for the first time in four years
* Statutory profit before tax up 108.7% at 19.2m
* Adjusted EBITDA up 11.9% to £95.0m
* Strong balance sheet with unsecured net cash of £43.1m
* Adjusted profit before tax 43.1m up by 46.6%
* Accounting provision made of £28m in relation to the dispute with Allianz
* The Board will consider the introduction of a dividend payment in FY23
* Strategic brands product revenue grew 9.9%
* Financial Services gross margin was 61.8% in FY22, 15.9ppts higher than FY21
Steve Johnson, Chief Executive, said:
"I am pleased with our continued progress in transforming N Brown into a more focused digital business, with a distinct and improving offer across our strategic brands. Our strategic brands returned to growth in the year with growing customer numbers. As we move forward, we are evolving our priorities to concentrate our growth focus on Simply Be, JD Williams and Jacamo, where we see the strongest market potential. We're executing on our investment plans to unlock these opportunities including through new websites which will be rolled out progressively over the coming months.
"In what has been another volatile period in the consumer environment, I would like to thank all of my colleagues for their continued commitment to serving customers, and their role in delivering a strong performance in the year. The work we have done means we are significantly better placed than we were before the pandemic and, although cautious in the short-term due to inflationary impacts and consumer behaviour, we remain confident that over the medium-term our strategy will support the delivery of 7% product revenue growth with a 13% EBITDA margin."
Good luck, Brighty
Pretty pleased with it.
https://otp.tools.investis.com/clients/uk/n_brown_group_plc/rns/regulatory-story.aspx?newsid=1584601&cid=1187
Some Div news, but not until 2023, but that's a start ay.
Counted inflation 21x and supply chain 8x lol.
I don't know too many CXO that buy at the levels they did to lose money.
i think we will see a pleasant surprise tomorrow
How many times we thinking supply chain and inflation will be mentioned tomorrow?
Going 16x for inflation and 5x for supply chain.
https://www.stockopedia.com/articles/why-n-brown-could-be-well-placed-to-recover-from-volatility-268605/
Posted Yesterday
4% down in auction. Lovely.........
Can't see dividend, can see supply's chain issues and drop in foot flow and sales...
I appreciate this company had plenty of cash, but can see them burning through it very quickly... GLA
I’ve been watching this for a while and bought in over the last few days. I actually rang investor relations and asked the question they just referred to the previous RNS that it was being looked at. I have a suspicion they might but at current values it’s so undervalued just on the fundamentals. The market doesn’t like uncertainty and I’m sure once the claim is resolved either way it will re rate.
I hope they do Cookie but I can't see it.
Even a 1p dividend would be around 4% yield on todays price.
Are you hopeful?