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Very positive AGM statement
Well Mr. Harrison, one year on from your opinion and your impatience has cost you a gain of over 50%.
From 88p to 138p. Just shows how difficult it is to forecast the stock market. Better luck next time.
Well, over 2 years later and you can still buy shares under 90p lol. Joke of a company and energy price hikes will certainly impact on future profitability. Better investments elsewhere imo, even under the mattress!
Good to see the upward movement to significant profit, dividend reinstatement and overall 'steps in the right direction'.
Big jump today, can’t find a reason why.
I wonder how those who paid 115p in the placing ONLY 9 weeks ago (to raise £85m!) are feeling when they could have bought in at sub 90p this morning. Is this the bottom? Probably not, given the worsening state of the economy.....
Perhaps not a bargain at 100p lol (Now 95p). Where is the bottom.....
Just looking at this company and note that it raised £85m at 115p only 2 months ago (The Placing Price of 115 pence represented a discount of 7 per cent. to the 10 day average closing mid-market price of 123.6 pence per ordinary share as per the RNS). Does this make today's SP of 100p a bit of a bargain to buy?
Quiet in here...
Going by its steady pre-covid rise, think a share like this needs to work harder than others to get its value as it's not so glamorous, so ought to be a sensible recovery play. SP seems stable and not *too* liable to drop on wider bad news.
Underlying strength to the business from reading the Accounts (and talking to a Regional Manager friend) and looks to be in oversold territory (don't all the shares at the moment lol) like many listed companies. Nice increase in dividend and decided this might be a good time invest in spite of the global volatility...
Been watching for a while, dipped toe in with 2k buy this morning. But only showing as a £496 buy???. Here's to the upward trend. GL
Although I can�t quantify what slightly above management expectation means, I see the share price responding positively well. I know in the past nine years it has delivered shareholders awesome gains. But, I do have a few concerns about this business 1). It cylindrical nature of the laundry business depends on the growth and unemployment rate of the UK economy. 2). Will it be able to maintain high level of earnings growth without too much borrowing? That will determine its future share price. For more details, here is the analysis: http://bit.ly/2CIwjzH
Having bought at 6.5p when the shares were in free fall several years ago I am sure there is more steady growth to come 😄
I have held a steady amount of these shares and have seen a steady profit,I will stick with them as I believe there'll be a lot more profit to come as they seem to be a growing company
A very quiet forum compared to some of the shares I hold- and less "hot air". The SP just keeps rising. Surprised that so many small investors seem to have missed this one.
You must be psychic, theres a good write up in this weeks issue of Shares Magazine
Been saying the same thing to myself for a long time. Let's see if any materialise? Maybe a decent write up in the shares magazines. . . .
Agree HF Wizzard. I'm surprised there isn't more interest in this company. No doubt it will build over time.
Hi MatthewC, thanks for posting. I was expecting these results and anticipated they would be as good as this. A solid business quietly getting on with its agenda. I expect more of the synergies and efficiencies from the acquisitions seeing their way through to the bottom line. Bullish on this as I have been for a few years.
The Group's continuing revenue for the six months to 30 June 2017 increased by 19.3% to £138.0 million (June 2016: £115.7 million). This was driven by strong organic growth of some 4.8% and a full six months of trading from the acquisitions completed in 2016. Adjusted operating profit increased by 20.0% to £18.6 million (June 2016: £15.5 million). Adjusted profit before taxation increased to £16.8 million (June 2016: £13.6 million) after net finance costs of £1.8 million (June 2016: £1.9 million). The underlying tax rate was 19.4% (June 2016: 20.3%).
looks likr the pull back is over and we are marching upwwards again
Very positive about this share. I`ve got one eye on the pension scheme, but over time these liabilities will diminish. At present the share is well under the radar..
Hi MatthewC, a strong update in my view. this board is on the cautious side with its updates. all of the extra capacity and increased efficiency should elude to revenue increases. larger profit increase. and then feed through to divs. my persoanl view is that this will have very solid growth coupled with strong dividned generation in the medium term.
From Paul Moody, the Chairman "Following strong results in 2016, trading in the first quarter of 2017 is progressing well and the Group remains on track to deliver management expectations for the year. "Our £4.5m investment at London Linen's Southall plant, which started in August 2016, has recently been completed, and we have also finished a £3.5m refit at our Chester plant. These investments provide us with additional capacity in two strategically important locations and will also improve productivity at both sites. "With the disposal of the retail drycleaning operations in early January, the Group is now wholly focused on the further expansion of its textile rental activities and the Board views prospects for the Group's ongoing development very positively."