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NMH19 They have 22 million + outstanding owed payments over length of contracts to their blue chip clients , maybe not a good idea in these days of retail????
Only problem I can see though !!!!!
I did jump in because although this is linked to the retail sector its not like its selling stuff on the high st...in fact they handle all the e-commerce stuff for brands like asos,M&S Wilkos etc...all brands which are growing their on line footprint.
So yes, it is retail but if anything Clipper are in the "New" part of retail i.e handling the delivery/collection of companies selling online...which is only going to grow.
For me, this is a solid buy and hold.
I work in this industry and am surprised to see these down 20%, they have a good reputation particularly for integrated reverse-logistics i.e. returns from stores or final customers back to DC's etc.
I'm not investor here, literally put it into Sirius this morning but if i had a couple of k i would probably jump in.
DYOR of course...
That's a very good observation Arsenal. It seems that the receivables have increased from 47M to 73M and that is a big deal for a company of this size and warrants further investigation.
Remember, a sale is a gift until you get paid.
From an audit standpoint receivables would always be an area that is tested. One thing the auditor will look at is the ageing of the receivables. And whether any of it needs to be written off. Have customers breached credit terms. It could just be generous terms are imposed on them by the big guns like ASOS and M&S which clipper will have little control over if it wants to retain these customers. Ultimately an increase in receivables is never going to be a good thing (think liquidity) but I’d say we need to understand why. Re the SP. 20% drop just doesn’t seem proportionate to me. Especially when headlines and stories are portraying this as a success. I don’t buy the Retail explanation. Clipper are perfectly poised for online and high street retail. Yes the high street is declining but online is increasing. If anything online requires further distribution although I admit I am not knowledgeable in this area. Buy and hold from me. I’ve been in since 300p.
And as always cash is king. And I think cash from operations has been in line with 2017.
A4 have you been taking profits along the way ????
I hope so for the sake of your cash flow????
By the way everyone I have now joined the party at 316
Let's dance to profit lol
Unfortunately not. But my holding is modest at best. Was always a buy and hold. You can’t argue with double digit growth. Decent dividend too. I live inLeeds and know the auditors doing the books. Not that I have inside info or anything. I’m just confident in the company’s growth proposition, management team and as long as it can deliver its contracts and manage its customers new customers will continue to flow in.
Could also argue that there is a net gain in the accounts of £2.4m from sale of PPE which if you deduct that from the profit before tax then it’s not too different from 2017.