Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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:)
It's flying again today!!
And hopefully more to come
And again ! No wonder Clarkson is rallying
Baltic Dry Index + 5.7% today
Capesize index +11%!
Panamax +1.3%
Index on the charge
£28.30
its a monologue here. Braemar is back today
Back to £27!
Coming back to market soon but confident
Correct, nothing but swings to be concerned about....
The share price is quite unloved but very high quality company
I tend to agree with Lancashire 29.
PBT is 52.2
Net cash flow is 20.3 outflow
The biggest component of the difference is from releasing an amount previously provided for bonuses. This created 54.4 of income / profit.
Cash flow is not affected by accruals so the 20.3 cash flow can't be made better or worse by movements in the bonus or any other provision.
By the way this is just an accounting comment. I know nothing about this company except from the accounts that it provides and releases amounts for bonuses (£100m provided last year) that are high compared with PBT so these provision movements might distort cash flow statements over a short period of say six months.
The "large bonus accrual" is in fact a decrease.
Without it the cash flow would have been an extra £54.4 million to the good.
When totting up the numbers ignore the wording to the left (sometimes they might read as a double negative) and
just look at whether they're like eg 54.4 or (54.4). The ( ) always means a negative.
At first sight I thought that this was a decent set of results. But for most sets of results I like to take a look at the Cash Flow Statement, and this seems to be showing some things that are surprising, and perhaps concerning. If I am reading this right then first of all there was a net cash outflow from operations (even before we get to investing activities) over the last 6 months. In addition it appears that in the absence of the reversal of a large bonus accrual then the company would not even have made a profit. Am I missing something?
Another good set of results
When you consider the company also has healthy net cash the earnings multiple is low indeed.
Looking a bit cheerier here.
JPMorgan raises Clarkson to 'overweight' (neutral) - price target 3,840 (3,740) pence
hopefulyl can leg higher with the market
took price target lower on the broker tab here. shame
Hi Ggt it’s good to see you here And I hope you had less stressful after selling out Clarkson last year, I’m still holding here after buying my last tranche to top up just b4 Jan 2022 thinking that it bottomed at the time “Talk about the wrong timing” :-).
Yes the Container and Baltic Dry indexes peaked in 2021 have been falling since and only the Tanker index was rising in 2022 until last month. Hopefully they will improve and the share price will make new Highs after bottoming at £2500 (Closing price) on 23/09/2022 from the High 4180 (Closing price) on 04/11/2021. GLA ATB
but the stock holding in well
It doesn't seem that long ago when a 40ft container from China to the UK was $20k
Price has now plummeted
https://theloadstar.com/pressure-on-carriers-drives-cut-throat-freight-market-for-chinas-exports/
yes agree should be higher !
Strange to see the sp fall 8% on HSBC buy to hold rating (note not sell) and yet neglible price movement to yesterday's Canacord Genuity coverage initiation with a buy target 4040.
Looking at last years closed trading statement issued about the same time in January where profits not less than £69M were forecast and the company subsequently delivered with £69.4M , the share price closed on the day at 3350. So with a 42% profit increase now forecast at not less than £98M, difficult to explain today's share price of 2950 especially as inflation finally appears to be bottoming out
Alas, I didn't get involved with Clarkson's.
SP is not exactly running at top gear...
At present sp - PER = c13.5 (that's including cash balances)
Cheap.
Given historic PE of c19
Strange market reaction