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https://www.youtube.com/watch?v=ueAX3pm4r9A
New update.
Its in the Finn Cap broker note.
I am mirroring last year's numbers as a result and hence why I say between 3.5m and 4.0m for this year. In the end (to a degree the actual final revenue number is less important to me - as long as its in that range). What is important is have they got costs under control and the pricing model correct which should drive margins and 'true' profitability. Not what the last lot were doing which was driving revenue even though it was loss-making. If this new lot can prove they've truned that ship around then its game-on for IDP.
ProLong was always a massive drag on the accounts. The 1.1m was largely written off anyway and I think all the 'extra' numbers that the lost lot had included are written down as announced in RNS from the summer i believe. Just the year end accounts havent been published yet.
Let's see what the numbers say, but if indicators are anything to go by then the above 5 points I made are strong indicators in my humble opinion. I for one will be disappointed if the numbers dont reflect an improvement in costs and margins - it may not be fully profitable but I would expect close to breakeven as a minimum, thus giving a good chance of profitability for H2 and for the year overall (as we all know IDP is H1 cost weighted and H2 rev weighted).
what is the revenue target for IDP - i can't find one and FinnCap has had a 90p target for over a year (previously 180p)?
Last year in mid Sept we were told revenues were also on target but then at H1 it had dropped over 20% from previous year.
Prolong was purchased for £1m and as of last year's accounts had £90k in stock so selling at a c50% loss is not a massive positive IMHO.
Mark Ward bought over 2m shares in the 70p range so i'm reserving judgement (also has a big holding in RBG which is not performing well).
Let's see how H1 looks and the cash position - too early to see if things are improving, especially as YE 2021 numbers have not been published yet
The positive signals are there for all to see. Today's RNS was another indicator, but to mention a few:
1) JV investment to accelerate growth in ProLong (+£275k for IDP)
2) Amazon DTC shop established - this retains more margin for IDP, and less cost
3) Link-up with Liberty from Love Island, providing huge national coverage
4) Revs is on target (per RNS from 22nd Oct)
5) Mark Ward spent £90k buying 223,133 at 40.5p on 14th Sept (see RNS from 16th Sept)
Ask yourself does the above suggest a company that is not turning things around???
Sticking to the core products and leaving another (invested) person to grow Prolong.
Seems to have had a positive impact on the SP.
I wish Mark Ward all the best in his plans for Prolong, especially as IDP retain 45% of it.
Yes £275k into the coffers, a medical device product with great potential just resurrected and Mark Ward in deeper. We keep a decent %age still with no further cost to us nor efforts.
I'm hopeful this lot are about to turn things around here.
Joint Venture established to accelerate the growth of Prolong
All looks a bit worrying, also concerned that drop does not reflect wider market. Appreciate that the share may have more exposure to recent Covid concerns than some but wondering what else is driving this drop.
big SP drop today - more than just standard market issues?? Well below recent placing price now
The last RNS said that they had to postpone the release of their full year results (to the end of June 2021) to « before the end of December » due to the change of auditors & Covid related issues. Expect investors are now anticipating these results anytime. Personally, I expect a big accounting kitchen sink with some asset write-offs but this is backward looking so not worried. The new management have had time to work on a new strategy and will probably announce some new business & financial targets. Exciting times ahead!
A flurry of trades and some sharp SP movements, does anyone have a view on drivers? I can't see any news that is behind this sudden activity.
ST did start uses influencers back in late 2019 when the ST Choc range had a launch party. It seemed an one off thing at the time - this deal seems a lot more strategic and with someone who is 'known'.
https://www.celebsfirst.com/lottie-moss-attends-skinny-tan-choc-range-launch-party-london-uk/
It was mentioned in one Kieran Callan's Proacrive interviews. Could have been in conjunction for Superdrug but certainly using Love Island people. Anyway a lot spend, hope it delivers over Christmas.
Thanks Brrr - Surface probably confused by that.
From memory, Superdrug sponsored Love Island a few years ago which caused some excitement here about stimulating Skinny Tan sales.
Did they Surface?
Where was this mentioned before? I can’t remember seeing it on any updates.
Good marketing idea but not new. They had Love Island stars lined up for a campaign before the pandemic hit. Probably spending a lot more with all the fresh cash in the bank. Really hope it generates a kick in sales.
a 6 figure sum - not cheap but gives access to a new, younger customer base so could be a great link up. Liberty is definitely this year's star from Love Island
“ We’ve got some exciting things planned and I can’t wait to share them!"”
Sounds promising
Positive RNS out this morning, announcing the new partnering of Love Island star to help promote skinny tan. Seen it highlighted in the Sun and Daily Mail already. Should be a great boost to sales and market interest.
Director purchases recently so would need another 2 weeks to clear director black out period for results to be released.
These must be released by end of Sept so not long now. It will be good to see the cleaned up balance sheet. Hopefully progress in H1 to date and forward looking statement will be positive.
Just checked and C+L look good, however, at £16 for a moisturiser it is not cheap. 2 competitors are listed directly below at £3 and £4 respectively
https://www.amazon.co.uk/s?k=charles+%2B+lee+moisturiser&crid=226FEHBT90DLK&sprefix=charles+%2B+lee%2Caps%2C152&ref=nb_sb_ss_ts-doa-p_1_13
Another vote of confidence from Mr Ward. I'm going to buy a few more on the back of this signal.
He could have got them cheaper a week ago so shows massive confidence where this is heading :)