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RNS, 30th April;
"The Company notes the recent comments published by the FCA and FRC regarding full year reporting. The Company expects to announce the date for the release of its financial results for the year ended 31 March 2020 in due course. "
A nice end to the week and more to come Monday going by the closing trades in the £5.70s. Have you any idea of when the results are due anon3, it was first half of June last year but can't find any info on this years due date. Cheers
Flat as a witch's tit over the last month.
At least it's not falling much.
But sub 10000 shares traded?
Wow. Saying this needs more liquidity is an understatement.
And added again.
Just proves it's not a level playing field, imo.
Thanks for the heads up re year end.
anon3, I was thinking pretty much the same thing, liontrust bought approx 5 million shares costing circa £27 million pounds yet no price movement! Unless they're adding more in the near future so price is being held for that purpose! Either way it's a nice confidence boost for IGR. Year end trading statement due within the next week.
to 10%.
Yet the price hardly rose on the 21st and the volume isn't showing on the share graph above.
How does that work?, I wonder
Anyone who bought around £3 has got an absolute bargain here!
Wish I'd had the guts at the time :-(
I like IGR but my broker, DeGiro, is hopeless at both buying and selling this stock. Been trying to buy all day. Maybe no shares to be had.
via Octopus nominees.
Interesting, yet a lower than average rise compared to the market today.
Junk? lol
I know what you mean, as I'm not the sort who'd buy anything IGR make.
But does this warrant a 50% fall in just two days?
Obviously the market thinks so, but it just seems like madness to me.
It is probably the 'people off the streets' thing. RFX already hit by loss of FX, now losing pawn broker access and gold sellers. Lets face it, all IGR really does is make junk and that won't be a shopping priority for a while.
This stinks.
IGR had held up really well through the Corona crisis until now, where it suddenly drops 28% in a day.
Who knows what, I wonder?
Jesus, I wish I'd sold too. Down 23% today!
A wise decision.
Near enough right at the high.
But it seems to be coming back.
Fingers crossed :-)
I decided to sell given IGR's exposure to China via their Chinese manufacturing and a general coronavirus-inspired slowdown.
It's been a great run (a two bagger or so) - so there's an element of protecting profits. But whilst there may not be too much short-term upside given the high rating, a mis-step may lead to a sizeable pullback.
It's a great company though, so I may well be back at the right price and may equally be wrong to have sold!
including a record order book and a confident outlook as regards meeting expectations.
Interesting to see the booster effect the US acquisition had on EPS last year despite only one month of inclusion post-acquisition due to the timing, which means the EPS increase doesn't quite reflect the large increase in profitability.
Tuesday 26th @ 7-00 AM
It would be nice if if was the closing price mick-b but we'll probably open down 18p on Monday.
Maybe we'll reach those heights next week if Tuesdays results are as expected.
The UT trade at 16.35 marks the official closing price
the steady climb continues unabated.
and the strong finish bodes well for more.
Progressive Equity Research have this morning issued a new note - they've left their numbers unchanged for the moment, presumably because it's too early in the year to do so. They conclude very bullishly as follows:
Https://www.progressive-research.com/research/
"Reaping the rewards: This H1 performance is testament to the group’s clear strategic focus, built on leveraging its core strengths and grasping market opportunities. Despite topical challenges including Brexit, trade tariffs and lower global economic growth rates, the group’s focus on its three key strategic drivers (working with winners, design & innovation, efficiency & scale) has continued to deliver strong growth, which is set to continue in FY20E and beyond. The group’s geographic diversification spreads and reduces commercial risk, and its policy of working with winners mitigates downside risk in those local markets facing structural and economic challenges. Given this unerring strategic focus, an active acquisition pipeline, and with the cross-selling opportunities and benefits from the Impact acquisition yet to be fully realised, the outlook for FY21E and beyond is for continued strong growth and market share gains."
IG Design (LON:IGR)
Share price: 620p (up 0.7% today, at 12:32)
No. shares: 78.6m
Market cap: £487.3m
Trading update
IG Design Group plc, one of the world's leading designers, innovators and manufacturers of gift packaging, greetings, stationery, creative play products and giftware, announces a trading update for the first half of the financial year, which covers the six month period to 30 September 2019.
This group continues its excellent track record;
The Group is pleased to report a strong performance over the period; on track to meet full year market expectations, with the business delivering double digit year on year growth in revenue and operating profit.
The Group continues to deliver strong cash generation and as a result we expect year end average leverage1 to show further improvement against the prior year, reaching around 1.1x.
Note that the group has large swings in its leverage during the year, to cope with seasonal trading peaks. That raises the question of how we should value the shares? Personally, I would like companies to disclose the average daily net debt/cash figure. That is what should be used when calculating enterprise value. The problem with balance sheet figures, is that they're a snapshot on one day, and all good CFOs make sure that the figure is nicely window-dressed to look favourable on the balance sheet date. Hence why enterprise value can be quite a dangerous method of valuing companies.
Outlook - sounds good;
As the Company begins the second half of the year it continues to benefit from a strong order book together with major commercial and operational initiatives and investments throughout the Group, which will support the growth going into FY21.
Acquisitions - described as an active pipeline.
My opinion - IGR gets a thumbs up from me.
It's established an excellent track record, and there's no sign of that faltering. Hence I think the forward PER of 18.5 looks fully justified.
Stockopedia's computers also like it a lot;
https://app.stockopedia.com/share-prices/ig-design-LON:IGR
(subscription only)