Firering Strategic Minerals: From explorer to producer. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Wallowing around the lows again - ready for a shoot up before long IMHO
As recently as Febuary ( 6 weeks ago)
ank Group recovery drives shares and impresses analysts
Last updated: 15:54 01 Feb 2024 GMT, First published: 15:49 01 Feb 2024 GMT
Bingo wheel with balls Rallied [70 p to 78.4p high]
Rank Group PLC (LSE:RNK), the owner of Mecca Bingo and Grosvenor Casino, saw shares soar around 5% after a “solid” set of interims, which highlighted strong recovery in all its channels.
Last year was filled with challenges, most notably weakened demand, plaguing the group’s financial results, with the six months to December 2022 producing less than £3 million in operating profits.
This year around, operating profits rose by £19 million to £21.7 million, largely due to a 9% increase in like-for-like revenues, which reached £363 million in the six months.
Bingo site closures and lower energy costs also helped, offsetting headwinds like the increased expenditure required for workers.
Grosvenor Casinos experienced a 10% uptick in like-for-like sales, with weekly averages rising above analyst estimates to £6.4 million and closing in on management’s target of £7 million.
Last April, the government announced it would be implementing reforms to the gambling industry, with companies like Rank expected to be affected.
Although the reforms haven’t been put through, management forecasts an £8 million hit due to the changes for staking limits online.
However, with changes to bingo also expected, analysts are confident Rank will see a £15 million to £20 million benefit.
With trading continuing positively in 2024, Shore Capital analysts are buyers of the stock and even see scope for operating profits to return to £100 million.
Does anyone know what circumstances they're referring to when they said in the recent results:
The Board has not proposed an interim dividend but expects to recommence dividend payments as soon as circumstances permit.
JG68
Covenant restrictions - however these are easing and should allow dividends to return "as circumstances permit"
n January 2024, the Group successfully secured a new £120m club facility, comprising a £30m Term Loan and a £90m Revolving Credit Facility ('RCF'). The tenor for the Term Loan element is two years and nine months and the RCF is three years. Both the Term Loan and RCF have market typical tenor extension options which are at the lender's discretion.
The new facility retains the two financial covenants which were applicable to its previous facilities, net debt to EBITDA not to exceed 3x and EBITDA to net interest payable of no less than 3x. In addition, there is an additional covenant referred to as a Fixed Charge Cover ratio, where (net interest payable plus operating leases) to (EBITDA plus net operating leases) can be no less than 1.5x. The Group expects to retain significant headroom against these covenants.
Thanks Mary.
I di remember reading that last week, but couldn't fathom where exactly we are right now in relation to those covenants.
And when an announcement of a dividend might be forthcoming.
A better place since last year if the TU was anything to go by.
One day we willl be millionaires Rodders.
I do not know the reason for the recent pressure on the share price, but it is a good entry point in my opinion, and for the last two hours of trading today the spread was as good as it gets with this share, it is already my biggest holding, and I will keep adding to my holdings in Rank at the current valuation.
The way they are ripping off there customers I'd say they will have bumper profits. Should be at least a pound a share. It won't be long this will pop. And you will never get this price again . So load up now.
I think one of the problems with this share is the spread, it can appear as much as 5p at times, but when you get a quote it is less than 1p. SUPERSONICTRADER The Casino always wins, but agree with you on the buying opportunity at this price.