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Yes I’d assume so, they are usually sometime in August. At the current SP it’s still a bargain. Hopefully Steve Parkin has something up his sleeve & will be holding out on some further good news in order to bump up the SP & then sell the business at £5+. I’m sure he will want to get well above the mid £4 he sold at a few years ago in a placing. Hopefully the results will be announced when the new Arcadia contract has been completed & hopefully it includes Click and collect & expands into E-fulfilment.
Trading update must be due soon
I believe that they had A contract delivering PPE to hospitals through distribution hubs etc during lockdown. I’m presuming this has no come to an end but with staff being un-furloughed they must be gearing up for Things getting busy again. Glad I brought in at 189
End of July I think. The word going around is that they have been doing a storming business during the lockdown. Hopefully that means a move upward in SP value.
About bloody time too. I paid 305p nearly 2 years ago and this is the first time I’ve been seriously above water. Always thought they were very undervalued, but the market has taken its own sweet time realising this, with a white knuckle ride en route!
I wonder what is brewing? I know they are doing a roaring trade through CV-19
Snippet from Steve Parkin’s interview from a horse racing article.
EC: What about the business, Clipper Logistics? I read on your website “it’s all about getting the job done no matter how complex.” I guess things can’t get more complex than they have been for the last few months?
SP: I woke up one morning to the news that we were going into lockdown - the whole world was turning off effectively. That gave us many challenges within our business because we are primarily in the retail space. Fortunately, after a brief hiatus to start with, as a lot our business is online, we started to see huge spikes in online shopping which basically meant Black Friday volumes every day for the last month.
From adversity we actually switched with our online business to record volumes. We were also approached by the Ministry of Defence back at the end of March asking if we could help with the distribution of PPE to hospitals. Within four days of getting the phone call we had a distribution network set up with 100 vehicles and 700 staff and now about 1.2 million square feet of warehousing so within eight weeks of not even working with the NHS, we have now been at the forefront of the PPE deliveries to hospitals and I’m pleased to say it’s been a huge success which has been highlighted by the government. So, from adversity, we seem to be doing very well.
We don’t know what’s at the end of this when things get back to normal but at the moment we’ve been very successful and are confident moving forward.
As you can imagine it’s a political hot-potato, there’s been an awful lot of air time about the lack of PPE into the front line, so we felt we were doing a service for the country, not only our own business. We’re delighted with what we’ve done. We employ 10,000 people and the furloughing of staff has actually been very small. The only ones furloughed are the ones who work in geographical areas where it’s impossible to get them to work.
If you look, our actual staffing levels were 20% up on normal times so we’re bucking the trend and recruiting through this process.
The appointment of a second broker might attract new investors, raise the company’s profile and so enhance liquidity in the company’s shares, so good news.
https://wbj.pl/p3-poznan-tailored-to-e-commerce/post/127089
One would assume that Clipper have big European ambitions given they also recently promoted the Van Hoof to Group Deputy CEO, who ran the European Operations.
PE of 17 here vs PE of 10 for Wincanton. Anyone reckon this is a bit fully valued already?
One of my gems. PPE PPE, we are always short of PPE imho. Gl
34 jobs being advertised at the moment! Seems they are pushing to meet demand.
Surely CLG will benefit from increased volumes via online purchases?
Clipper has a large reliance on newlook,will hit sp I think.
Hi Rio
Seems we both spoke too soon! CLG is one of those shares that is all over the place (even intraday). I think we are going to have to wait for even more positive news, but the trend is still upwards. I wouldn't discount the possibility of another bid coming along in the next year, from Sun Capital/Parkin (again) or DSV. Meantime, having watched the SP dipping below 200p in recent months, I am certainly not going to get cold feet now.
RougeRiver, you seem correct on the share price holding. This is encouraging and I hope we see some momentum in the first quarter of this year. Clipper is a good business but I would expect profits to be raising much higher than they have in the last 12 months. Good contract wins but some of these have been off set with some key contact losses. Hopefully they can maintain a better rate of contract retention alongside new ones gained. Good luck, think I'd sell out at £3:50
The SP was already recovering past the mid 200s before the bid was even in prospect. It has recovered today from its trading low. You will always see a knee jerk reaction after a bid situation. It’s just those who were hoping to make a fast buck moving on somewhere else.
7 million sells close of trade?
Hope this is not a new short attack on this share with no bid coming in today, previous levels before bid interest were near the £2 mark. Tomorrow's trading will be very telling.
I was hoping the tie up with Pretty Little things would have lifted this share price alone over peak on the back of the trading at Boohoo group.
GLA
Sounds like the bid was not high enough based on Clipper's statement...there no chance SUN Capital were getting it on the cheap. Trading looks pretty strong.
Well, I got that well and truely wrong!!
Well, I will have to disagree with that . Almost 50% in hands of Parkin and other directors who have got ****ed off with the low valuation. Since they prolonged the talks another month it suggest they aren't far away from getting an agreed bid so I'm expecting one today at anywhere between 310-340p. Not long to wait unless, they extend them again.
I’m not expecting any last minute bid to be forthcoming, nor am I expecting to see any dramatic fall in the SP once deadline has passed. The shares are still woefully undervalued, especially after the recent contract gains. I think they probably sounded out IIs and found they wouldn’t be selling out for what they wanted to bid (i.e. not much more than most IIs are averaging!). I’m surprised no other bidders have come forward though. Perhaps they are just not ready to make a move.
Lots of “small” sells ahead of tomorrow’s deadline - what do they know that I don’t?