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I do agree Threeputt that the first half profitability will suffer as a result of Toys R Us CVR in the USA and Canada and subsequent closures in the UK, however this has been well flagged by Character. The toy market will adapt and others either through bricks and mortar stores or online sales will be the beneficiary�s of Toys R Us over extending of physical stores. With the launch to come of more of the companies best selling toys and the distribution rights for Pok�mon for the UK I remain confident in the longer term prospects for Character. Looks like the market now agrees as we are back to yesterday�s share price.
points taken. I used to be a fan of Character and I made a lot in the lovely rise in 2015 from �2.50 to �5. Since then it's stalled and I just don't like the market atm, the exit of Toys 'r' us is symptomatic imo, From this mornings trading update I picked up on this element: "whist the Group's performance for the half year to 28 February 2018 will reflect the overall lower trading compared to 2017, the Board remains confident that, absent any major external factors, the Group will return to its previous growth pattern during the second half of this calendar year and this will be fully reflected in the strength of the trading for the financial year to 31 August 2019" That read to me like a warning for the first half of the year but some possibility for the 2nd half. I do think this can do well in the future but not for me right now, I also recently read this which further turned me off them: "the following directors received 'performance bonus' in 2017 of the following Mr Diver just over � 1 million Mr Shah 723k Mr Kissane 523k In 2016 the amount was similar I have no problem if they are performing , clearly the last 2 years they have not been performing so how can they justify the excessive bonuses" GL
With the greatest respect threeputt if it was a profit warning the share price would be down 20%+. That's how it goes in the current market. I think the problem with CCT is that the market struggles to understand it. And more importantly at �90m it's below the radar of most institutions / brokers. Only Panmure seem to cover and their last update was (I believe) in April 17. What's interesting is that at the time they had a target price of 635p. And that is not as insane as it seems because on the face of it CCT has some fantastic financial attributes. Chief amongst these is that the business is a veritable cash machine, which has grown dividends from 6.6p in 2014 to 17p in 2017. All this whilst staying net cash positive. ROCE is off the charts when measured against book equity. And even to market cap it is in double digits. Trading at c. 5x forward EBITDA I think this company is a steal, unless you believe the traditional "non-digital" toy sector is about to implode. So far there is no evidence of this. If they can just get back to some steady top line growth this share will fly. In the interim the growing dividend and value enhancing share buy-backs are a bonus. NB: I run a pretty concentrated portfolio - 15 positions. And this represents 5%. A bargain in what has become a relatively expensive market. Of course all in IMHO
read like a profit warning to me, sell
Much as expected but a bit short on numbers, trading in the first four months as expected does not actually tell us much. We will have to wait for the results in April to learn more. Still happy to hold as directors are confident of growth prospects going forward. Difficult to understand the mark down this morning with only 640 shares sold at time of writing.)
Sells going through at almost 2p above quoted bid. Hope that this bodes well for tomorrow�s AGM as I have some way to go before break even. Hopefully we will have some good news of Xmas trading and an update relating to the supply of product to Toys R Us. Further out I remain positive that Character will resume growth and profitability so in the meantime will hold for the dividend.
Simon Thompson in Investors Chronicle on line has this as a hold after today's RNS. The fall is overdone in his view. Also, I note that the share buybacks seem to have started again today, presumably taking advantage of the fall. 120,000 bought back today. There is plenty of cash on the balance sheet to fund this. Should help to keep a floor under the SP. I'm holding.
Paul Scott has a piece on it this morning https://www.stockopedia.com/content/small-cap-value-report-wed-11-oct-2017-cct-quiz-vtu-phd-227338/
Anyone understand the heavy fall?
On the way up. GLA
tree shake on Friday
Great news in the past week has pushed this SP back up to acceptable levels. New target prices of 650p being mentioned. GLA
I look in on this company every 6 months or so, they seem a bit dead in the water. While they have some core brands, they are need something new, the latest two look like short term nonsense which will wash out in a year. Come on guys give us a new "Pippa Pig".
Good article in tomorrow's IC mag should help this share. GLA
Also on leisure Character Group (CCT) looked oversold and the maker of Peppa Pig toys looks at its bottom and I have picked some more up. Could be a nice 25% gain there to come.
...but a 'good' share always wins out right? I had Character in my watchlist and was always looking for a buying opportunity - in the last week one has been presented and although it has taken the silly fall (like others) it has not really corrected itself yet. I think the momentum will build on this one and although I expect more volatility I believe this will carry positive momentum. With great companies I am always happy to wait.
I agree. They are exporters and so should be benefiting from sterling´s fall. Bought a few more today. Take a look at the last earnings report
they do most of their trade with China, so could be good for them. Obviously in the short term the markets are extremely volatile, so this would be a long term hold
Are CCT massively affected ?
Just bought in here today. Fundamentals and prospects look great with undemanding PE. Share buy backs really positive
As you say a great "rave review" by Simon Thompson in the I C.Have just near doubled my holding. The future numbers look amazing with Teletubbies being viewed in 120 countries by one billion children.With the USA launch early next year the sales momentum will increase a great deal. The chart looks ready for a breakout anytime with almost every deal a buy since Friday a buy.A target of 650p-700p looks okay by me.
Heavy volume just gone through so it looks like the overhang which has been holding price back has just cleared. Virtually no online stock just now so any buying and price should start to motor. And if it breaks out from the wide multi-month base, then the momentum traders will start to buy in.
Plenty of buying on the back of that tip today. Looks primed for a good breakout if it can push above the top of this wide consolidation.
Just been tipped by Simon Thompson in the IC- http://www.investorschronicle.co.uk/2016/05/09/comment/simon-thompson/toying-with-a-break-out-fADtTCXOvschz4cgHIL9PP/article.html He rates them a strong buy.
Character Toys recommended in today's Money Week magazine as a good buy on a P/E of only 11