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Hi Smiley Hmmmmmm Are you suggesting that the top man in a mid cap company holding £140 million in shares is anything other than a good thing for the pi's, I don't think so. D.
"One thing going for Pi's on here as opposed to other companies is that the men at the to have very large holdings so what's good for us is measurably much better for them." Hmmmm. Not sure about that. History is full of examples that would suggest you are wrong there. VAST, TRAK (today), XLM, SCH, QPP even dare I say it PAYS have histories of the men at the top looking after themselves at the expense of poor lil' ol' pis. But this may be different of course. GS
Hi Mulder Your in luck none of your watched shares are on my watch list. Sorry I don't do tips. I'd need to apologise in advance if I did. The company will issue news only when it's ready to regardless of our concerns on the lack of it. One thing going for Pi's on here as opposed to other companies is that the men at the to have very large holdings so what's good for us is measurably much better for them. When they do update us I'm hoping there's clarification on the postponed Japanese government ID card scheme' D.
I have emailed IR asking for an update. Difficult to find decently priced shares with the FTSE so high but I believe this is one. Others I would suggest looking at are: - Card Factory KCOM BTG Burberry ABF Serco Carillion Apart from the last two I would say most of these are defensive. They all have low/zero debt and are relatively low beta stocks with high dividend yields. As always though DYOR. Any tips from you guys?
I can't disagree with that Wizard. I also think that the market is saying ' trading update please' D.
my hope is that this stock makes the FTSE 250 before long and onto electronic trading. where i understand this nonsense happens far less.
I see your point but I have seen this kind of thing time and time again with many shares now over the years - what does it say about the FCA or our so-called 'regulated' stock market? Yet people still deny manipulation goes on.
I think we just have to accept this is a share that is going to be mucked around by mm's.for very little or indeed no reason whatsoever. I came in here thinking it was undervalued and had excellent growth potential now I'm just going to short term trade it. " IF YOU CANT BEAT EM JOIN EM " D.
Large swings and volatility again for what should be a stable, defensive share that allegedly has a low BETA rating. Unless the market has already got wind of some skeletons in the results....which says what about the market and the leaky nature of the tap??...
Yes Mulder It looks to me like market is positioning itself for an excellent set of results. There was no accountable reason for Fridays drop. I think we already know the results will be padded out to the nth degree, if only to counteract the latest massively over stated negative sentiment I've always thought of Photo as a LTH but I'm starting to think what
Big fall today on virtually no volume. Highlights once again the rogue nature of the market.
Hi Burton If you go back a few weeks of posting you'll find one of our more knowledgeable posters has covered this issue. D.
Does anyone know if they've managed to solve the Japan issue? It's been about a year since the delay and I reckon any good news on this will be great for the SP.
Guy's and Isabel. IT would appear after much toying with we are in a good place !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Yes, a staggering, mega volume day at 8.7m (long term average 500,000). Important Trading Statement and profit forecast updates were released on 26th February last year, and on the same date in 2015. So this year's likely to be released very soon in 10 days time approx. - Perhaps some big fund/s wants a position beforehand?
Huge buys today according to the data; someone building a large stake preparing for a T/O? Company has no debt and ~ £70M in the bank
In this week's Shares Magazine a fairly decent sized piece on PHTM using it as an example in their Rational Investor heading on when not to panic sell - (Love the title header they use in the intro:) "... WHY THE MARKET GOT IT WRONG ON PHOTO-ME Photo-Me International (PHTM) saw its share price fall 20% on 23 January 2017 after old news reached a wider audience. A couple of the national newspapers ran stories about the public being allowed to take photos with their mobile phone for passports – the market panicked that Photo-Me’s photo booth services would no longer be required. This supposed risk to its earnings wasn’t entirely breaking news, and people had talked about this last year. For the smart investor, the sell-off presented an opportunity buy a great company at a much lower than normal price. Yes, the UK is trialling potential changes to passport applications. It is potentially allowing adults aged over 26 to use mobile photos to renew their passport, but only if the photos are of the requisite standard (set by ICAO and ISO), something which is very hard to achieve. Photo-Me’s UK photo booths only account for an estimated 5% of group profit, so a decline in income from this area of the business wouldn’t have a major impact on group earnings. The earnings threat certainly didn’t warrant wiping off a fifth of the company’s market value. The company replied by saying it believed accepting photos from mobile phones for official documents was ‘incompatible with developing security requirements’. In Europe, there is a shift towards more sophisticated security photos including 3D imaging and iris scanning. Therefore you could assume there is a chance the UK Passport Office could rethink its stance towards pictures from phones. Our conclusion is that the market has incorrectly priced this earnings threat and applied too much of a discount to the share price. Therefore the rational investor could have picked up cheaply-priced shares. And that’s exactly what people have been doing as the shares have subsequently recovered a good chunk of the lost territory. In Photo-Me’s case, some discount is warranted given the threat to part of its earnings – so we aren’t saying the shares shouldn’t have fallen at all. This is an important point to consider. . . . . "
Ah well we're back then, with buys at 165 155 & 145 on the way down I never for a second lost faith ' aye right ' Interesting download Johnny!!!!! I hope you sent a copy to civil servants and journalists who as the previous poster so aptly writes caused this storm in a teacup. I'm amazed our recovery has been so quick I thought we would have drifted in the wind till final trading figures update. Anyway looking forward to a cracking set of figures that will move us on to the next level. D.
I so nearly sold on the last dip down, not because the news was bad (storm in a teacup) but out of frustration as along term holder. Rather glad I didn't now. So much for resistance at 170p ... lovely to see
http://investor.photo-me.com/downloads/pdf/results/Photo-Me_Photbooths_Today_and_Tomorrow_ID_Solution.pdf I suspect Serge will have very exciting news on the 3D photo format being used by government agencies globally. When the RNS comes PHTM will pop. Reading the investor presentation, other exciting innovations include wallpaper printing giving customers the chance to make their own wall paper from their photos. Ingenious!
Velo, this is all very interesting. Many thanks for the extensive post. I will need some time to read all those links!
@ HFWizard - It was published approx 11th January this year in SCSW (a subscription-only newsletter) so no links to it, would work I'm afraid. I can post the single sentence in question though, without breaking subscription copyright etc., (I think) - ".... The MyNumber regulation came into effect in January requiring all 87 million Japanese citizens aged 18+ to have a new photo ID card. After halting it due to technical issues the programme will restart in March...." Tried online news site 'The Japan Times' to get confirmation - plenty there but it's more concerned with the problems they're having with the "My Number" ID system gremlins. However, discovered this: Funds were set aside by the govt to distribute the first 30m cards but only 9m had been issued by January 4th before the system was halted. Also, there is considerable resistance to the new ID card in Japan. The govt is launching a charm offensive with teach-ins at libraries etc this summer. Still in Japanese citizens minds is the govt seizing and freezing all bank accounts at the end of 1945 ostensibly to help the economy but in reality it was to actually tally up how much money was in the nations bank accounts - then they introduced a new tax on those savings and billions of yen were taken from the accounts as a tax - and it was two years before the accounts were returned to the rightful owners - from that day to this, large swathes of the population hide massive amounts of cash "in the back of the wardrobe" as is their saying. They think the ID cards are another attempt to spy on their savings; and distrust of banks is very high. There's been so much cash stored in homes that billions more banknotes have had to be recently released into circulation as they're disappearing from circulation at an alarming rate (stored in "wardrobes") because of fears of the My Number ID card. Banks have recently issued an edict that no money can be transferred abroad from bank accounts - unless the account holder has the new "My Number" ID card. Fuji control 40% of the ID business and there are reports of them being sued by affected parties for the gremlins in the system. Photo Me said this time last year they were adding 1,000 more booths throughout Japan in 2016. Whatever, it would appear there is resistance to the ID system itself, by the populace - still yet to be overcome by the govt. Here's a link to several stories about the ID troubles from Japan Today site: .http://www.japantimes.co.jp/tag/my-number/
Morning all! Thanks Velo for that snippet on Japan. When japan kicked off a year or so ago the RNS stating if it continued results would be ahead of expectations. when the programme stopped we took a significant hit on sentiment for quite a while. so it is very important to PHTM share price. can i ask where you got this link please? and especially what date is was published? If we kow for sure its restating and PHTM are central to it that would be a game changer. now i think about it i believe PHTM said in an RNS this year they will be booking no Japan ID profits this year when the programme got stalled. re the strong price movement in last few days i think the (slow) realisation that the UK ID hit will be small, or even non-existent as i dont believe they will have more relaxed guidelines on photos than the rest of europe. also shorts being closed out. i am feeling quite bullish for next few months here
Thanks Velo Something positive about PHTM to read while having my cornflakes. To be fair to the company they have alluded to this possible increase in business in Japan in several rns's over the last twelve months or so however it's good to see you have went to the trouble to research then update the detail for us. Do I detect market confidence coming back to Phtm. Yesterday's sudden upturn in the share price was hopefully a sign that they are. D.
All 87 million citizens in Japan are required by law to have a new photo ID card. It came into effect in January - but was halted due to tech issues. The program is being restarted in March - just 3 weeks or so to go! When it gets underway and media interest reignites there will / must be an impact on the SP. Is this tentative movement in the SP the start of that recognition? PHTM are big in Japan. How much of that 87 million in ID photos will come there way? It will kick the recent kerfuffle of UK booths into touch. 87 million citizens are required by law to get a new photo ID starting in March -.no opting out - they have to have one for all those over 18 years old.