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Let's hope Brown don't consider any of these brands. Personally, I like the focus on online retail and paying down debt with cash generated.
Plenty of targets out there for BWNG to consider if it wants to expand its brands - some well known names.
Sunday Times today -
"High street tycoon Philip Day has put his Pea****s and Edinburgh Woollen Mill (EWM) chains up for sale.
Day has appointed the advisory firm FRP to sound out potential buyers for the two retail chains, which employ about 7,000 people and trade from more than 900 outlets. FRP asked for offers by last Friday. Day triggered the sale process this month after an unsolicited approach for Pea****s, which is more likely to be offloaded than EWM.
Day amassed a £1.14bn fortune by buying up distressed retail brands and integrating them into his empire. Covid has been painful for Day, depriving EWM of the over-60s and foreign tourists on which it depends. Pea****s has reopened fewer than half of its 550 shops.
Separately, Day is also marketing his Jaeger, Austin Reed and Jacques Vert fashion labels to suitors.
During lockdown, Day, who now lives in Switzerland, furloughed almost all of his 24,000 staff. Pea****s racked up tens of millions of pounds in unpaid debts to landlords and suppliers, which would be inherited by any buyer."
They reduced those a while ago. You have to remember funds mainly buy on behalf of clients so if client want to sell the fund has to sell some. If you look at thAt 1% When they were at 4.04% total they were held as financial instruments From the off - so maybe who ever had them on loan bought them.
On that TR1 norges have not reduced further but lent more out...
Schroeder’s bought over 10% at the same time As Norges and so far not sold any. It all Depends on Clients timescales - and It is normal stock market activity.
They haven't sold out completely and do as you say have shares out on loan but they have still reduced their holding by 1% so they have sold down which was what I was referring to. Why buy and sell so soon ?
5,072,554 Shares on loan - right to recall anytime - read further down.
Norges haven't sold out they still have 2.99% look at the financial instruments Column. They have lent shares out will get a fee For them and will have them back... common practice at the moment across many stocks.. . Funds hedging longs etc.
Some big sells, hopefully Norges fully out and no more selling pressure. Hope this second wave nonsense BJ has spouted on about doesn't affect us. It shouldn't do... Should see some gains now hopefully now that the seller is done with... Bring on next week ...
Odd that norge have sold down so quickly after buying in. Did they just intend on making a quick buck or just don't fancy it now ?
The UT trade seems to be the overhang cleared of Norges(Oslo) 1.21% they had left. Seems that's whats been driving the price down.. they are out! Monday forward should be better now, and steady climb!
Looks like it'll be a much longer wait than originally anticipated if it is first week of November :(
Happy bonfire night, guys!
1st week of November is confirmed.
I would have thought an email more reliable than a conversation - I did ring as well and the guy answering didn't know. Asked for email confirmation. Will report back.
Since 2016 HY results have always been issued on around the 10, 11 or 12th October. Good luck, Brighty
A phone call trumps an email, emails have typo,s but it would be good to clarify.
Clemoc, are you sure about the month? I emailed "enquiries" and they said the results are out in the first week of . .. **November**..!
Ian.B, excellent summary, I absolutely agree with you on the fundamentals you've outlaid in your posts. The figures speak for themselves, so there's no ramp per-se on my behalf. What impresses me the most, AND most beneficial for the company and shareholders is the excellent debt reduction focus, alongside the super way the B.o.D are handling costs and tightening belts.
The B.o.D are displaying the characteristics that should be used as a guide and benchmark for many other companies. Focusing on the growth and directing through challenges can only benefit the company for the better!
Just to clarify the top 7 brands % are all + (up)
Simply bee was slightly - (down)
Managed to copy the data form twitter -
N Brown #BWNG similarweb data for August, one word - wow! ??
Website visitors in August compared to July:
Jacamo ?? 19%
Jd Williams ?? 0.3%
Home Essentials ?? 7.4%
Oxendales ?? 11%
Ambrose Wilson ?? 23%
Premier Man ?? 11.6%
Marisota ?? 25%
Theres always one..
Simply be ?? 2.7%
I think the data analysis is also a strong indicator of how the business is performing..
Again thanks to Paul for the data (You will need twitter for the link.....
Even more encouraging though to me is that they’re achieving this with massively scaled back marketing so efficiency is improving incredibly. I think we’ll see good top line revenue growth but it’ll be the bottom line and debt repayment levels that really shocks people into thinking wow this is ridiculously undervalued.
For a summary of just visitors by brand - https://twitter.com/paulofpicks/status/1303049020525420545?s=21
Paulof is the one to answer that in detail. His research and attention to detail far out weighs mine..
I was discussing it with him on private messages yesterday.
I Looked to the Ceo statement in FY report for guidance- the Ceo is very cautious which i like. Not one prone to bull..Ship
“Trading in the first quarter of this financial year was impacted by Covid-19 but sales in recent weeks have shown an improving trajectory and cash collections have been stable. Operating costs are significantly lower than last year and net debt has decreased.
The Group took swift and decisive action to maximise operating efficiency and strengthen liquidity. As a result, operating costs declined 42.6% in the first quarter, significantly more than the reduction in revenue. The majority of these savings were in Marketing costs but the Group also reduced Warehouse & Fulfilment and Admin & Payroll costs in the quarter. This is further demonstration of the Group's agile and flexible operating cost base.”
Summary of chat with Paulof
Where I think the results will shine will be on the cost side of things - I’m expecting huge savings particularly in marketing and then should see savings in staff & volume related warehouse costs. My gut feel is we will see revenue not far off last year with costs at least 25% down which is huge.
Expecting net debt to be reduced by £75m from prior year end
HY results last year -share price was 120p. That was with ebitda of 54.1m and profit before tax of 18m achieved
If sales are down 20% and op costs 43% as their latest announcement, (two months of solid sales since then) even if it didn’t improve that’s about £35m ebit favourable.
In the last presentation, they said cost efficiencies will offset ‘>80%’ of impact of reduced gross margin & fs provisioning.. that was back at the end of June though when lockdown wasn’t even really lifted.. there were still a lot of unknowns back then too. I’m really expecting at least the same ebit as last year now with sales picking up in past two months & returns etc
Test of 200dma this week.. 57.5p area now. Break out after that? Fingers crossed.
People buying in for results, and price starting to tick up.
I tell a lie... I see a lil more sideways between 51 and above for a bit.. Sorry wasn't looking at chart directly whenst quoted last. Either-way the run-up higher is expected now or later. ...or it could steam on its own today.
Was hoping for it to enter into late 40's.. had a buy order placed lol. Seems low 50's is a strong area and too many have cottoned on value here. Think may have to move it up to around 51.50. We're close to an inflection point on one point in chart, so expect a climb from here.. again wtfdik..please do your own research!