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I’m thinking about the millions … in the tens… they will have had by the end of of FY25… a few stores a few 100k… the rest?
...interesting to know what they are spending their surplus cash on…
Bhaveen,
They have opened 3 new stores in only the last two weeks
https://www.leicestermercury.co.uk/whats-on/shopping/opening-date-new-card-factory-9157278
https://www.gazettelive.co.uk/news/teesside-news/card-factory-opening-soon-former-28787295
https://www.petersfieldpost.co.uk/news/new-card-factory-to-open-in-long-vacant-petersfield-carphone-warehouse-unit-673844
It makes sense to take your pick of the available retail space before Interest rates get cut and the economy picks up.
You make an interesting point about net debt… I tend to think about the net debt excluding operating leases as this is what their convenants and dividend payment requirements are based on…. Which should be around the 60s millions come Q1… what’s interesting is that they have states then only aim to reduce tranche b by around 7m in 2025 whereas they could do a lot more…. So that indicates to me either plans for a dividend or some heavy capex…. Actually think their online offering is now quite strong … would be great to hear from others if they think there is a lot more they can do online
There are only just over 5 weeks to wait till Q4 res.
Bring it on!
Given their £173mio of net debt at the end of H1 I wouldnt say they're swimming in surplus cash, though likely generated ~£100mio of OCF in H2 which would make a decent dent in that and might bring them under 1x Debt/EBITDA. To be honest, Id much rather see them invest in beefing up their online presence, and dont object to their international expansion given the continuing decline in UK card sales (by volume)
It was tranche A and the covid loan… think the covid loan was paid off last September and tranche A was due end of Jan… both out of the way now…they will pay a dividend as they have declared this ambition back in may 2023 … I just don’t understand if it could be mid way through FY25 or we would have to wait till end of FY25… if nothing happens in relation to FY24 then it would be interesting to know what they are spending their surplus cash on…
Funny because debt was a fair bit more when they were paying dividends last.
Am I right thinking it was the tranche b loan that was preventing capital distribution and this has now been paid ?
Did have a look at the accounts…..increased Rev which we already knew about but didn’t spot anything else….come on Card give us that divi!
I do not think this is right. It is a wholly owned subsidiary of Card Factory…
Interesting Printcraft Ltd, Company No. 07019834
Who produce 75% of Card Factories cards and intertwined with them, located. 25 miles from Head Office is owned/directed by a family relation of Rymer. Just had a look at there accounts
Did see a card factory ad on YouTube a few days before Mothers Day. Wasn't great - wasn't terrible. I guess they're spending on system improvements, websites and store refits. Maybe time to advertise after that...
The whole Moonpig valuation vs card is sketchy … all I can think of is the broker notes that seem to indicate cards online weakness vs moon but that’s really such a messy point as cards online offering is actually good now … nice platform and better prices … just wish card would do some advertising like pigeon and pig do to show it off and drive new customers there… really don’t understand why they don’t considering all the cash they have
Too cheap to ignore, just bought some more! Rhymes!
Sadly the UK is out of favour with investors everywhere - including the UK. When UK institutions advertise predominantly US funds what chance does the UK have? And the games with hedge funds and venture capitalists... Nuts!
Only comfort I get when I compare CARD to MOON is that over the past 3yrs the respective share prices have moved as follows : Card 70 -> 50 -> 90 -> 90 ; Moon 420 -> 225 -> 100 -> 160 ... so CARD gained 30% ; MOON down 60%
However that convergence I have long been hoping for, and which was close to occurring this time last year has sadly not materialised ... yet ! Everything about the past three year's trading performance tells me CARD should be 150p and MOON 125p ... so why don't the "efficient" markets recognise this ?
Thanks Onsolid, considering as well February was one of the wettest on record, effecting footfall in retail, it's performed well. Sounds like they were all in Weatherspoons from this morning results :)
Bodes well all round! Think just some positive news and highlighting Retail will help. Cheers
Bb1978 this will have been a very good quarter for CARD as it took in Valentines Day and Mothers Day.
Next up Easter which falls on the 31st March which also falls in the same quarter.
Its not only the key dates but the fact they have raised prices in a measured way and there are far more £1.29 through to £1.99 and £2.99 cards on the shelves now than what used to be an abundance of £0.99 cards of a year ago.
I wondered why there was a boost in trades yesterday
Telegraph - Retail sales beat expectations as hopes grow for end of recession
Retail sales defied expectations in February and dodged a predicted fall, in a boost to hopes that the UK returned to growth in the first quarter of the year.
The volume of goods bought by shoppers last month flatlined at 0pc, ahead of market predictions of a 0.4pc fall.
Meanwhile, the already strong sales figure for January was revised higher to 3.6pc, from 3.4pc.
Agree - we know PBT is c£62m and it was £52.4m last year so that's an impressive 18% increase.
I think the focus on online is a little misguided. Stamps are rising to 135p and delivery times are unreliable. Factory sells many cards at less than that.
The click and collect option and the in store add ons (chocolate, balloons, candles etc) are still quite immature and should add more value.
Happy for online rev to increase and also gettingpersonal.co.uk, but this is a small % of total revenues.
Incidentally a 3p div would be c£10m, which seems very affordable.
Incoming. 106p for breakout
Numbers have been good for a while now… always above expectations… think the divi will help attract attention…but I think an online market attack will get analysts talking about cars being a company see for the future whereas now it feels like the mainly high street retail play is seen as a bit of a dinosaur which is a shame as the numbers are good and debt is low ..
We know these will be good, at least 10% better than last year so PE should be in the low 6's yet the SP is going nowhere.
Hopefully the formal numbers and the reintroduction of a divi will kick start this share. Anything under £1 seems madness IMHO
these are wrong most of the time! ignore. why we have to put up with ****e data in 2024 from a stock market is rather scandalous, but that's the london market for you. i'm going to buy some more tomorrow...
You probably bought below the midprice quoted at the time.
Didn't think we'd see 90p again, however, happy to top up
Might be a good idea if one of you regulars here communicated this fact to the company!