Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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MIDAS SHARE TIPS: Profits set to rise 24% as sofa firm ScS bounces back from a slump in sales By JOANNE HART, FINANCIAL MAIL ON SUNDAY PUBLISHED: 22:01, 21 November 2015 | UPDATED: 22:01, 21 November 2015
Upholstered furniture and floorings retailer ScS (SCS) rises 3.2% to 189p on news of a good start to the new financial year, with like-for-like order intake up 7.9% for the 16 weeks ended 14 November. http://www.sharesmagazine.co.uk/news/market-report-profit-taking-leaves-ftse-weak#.VkxOXnbhDb0
Could this be the take-off point?
The Company confirms that, subject to approval at the Annual General Meeting to be held on 18 November 2015, it will pay a final dividend of 11.2 pence per share in respect of the year ending 25 July 2015. The proposed final dividend will be paid on 25 November 2015 to shareholders on the register on 6 November 2015, and the shares will become ex-dividend on 5 November 2015.
When are divi dates do you know?
Good revenue and LFL growth, just need to sit and wait for profitability to return now. £200m market cap would be a fair value for a company like this. Happy to wait until it at least reaches this valuation (if not double that) before I sell. I'll take the divi for now :).
So it looks as if the Easter sales shortfall was a blip. Sh*t happens. However the rot has been stopped, order intake is OK and things look to be pretty much back on track. And despite the dressing up, the FD has resigned which is probably as it should be. Decent company, very likely to get a first rate replacement which can only be good. Maintenance of dividend is encouraging also. By my calcs it is 14p per share which is a fab yield for a business that does not need cash (otherwise it would not pay it) and that does not seem distressed in any other way either. With a Conservative government for another 5 years prospects must also be good for stronger sales going forward. Really happy to add on the dip first thing. GLA GS
This is a great little company at a ridiculous valuation. Just park some cash here and wait and we'll all be rewarded in due course. Currently it's due to earn ~10% in dividend yield if the board can make good on their promise of capital returns.
The good news is that her indoors went to SCS in Bristol today. Even better, she bought something. And if I wanted suite for my daughter's new flat (well I do really) I would have been over the moon. But the bad news is that the purchase was not a reclining sofa with drinks fridge armrests etc. Seriously - she said the store was busy, the service was good and the assistant she spoke to said that trade had been good. Fwiw. GS
Good to see you here skodaman One of those recliney things with a drinks fridge in the armrest? My dream but her indoors won't let me. GS
Just bought a new sofa :)
I think they can hit £300m sales this year if we are optimistic which at 5% net profit margin (an achievable target maybe not this year but in the long run) should give £15m profit. At £60m market cap it's a no brainer. As long as this company can continue to grow and then improve its operational efficiency (CEO knows what he is doing, has been in the business long enough), I would not be surprise to see this company hit £300m market cap in a few year's time. Short term? No one knows, but it's cheap as hell and I was considering investing before the 30% drop.
Any ideas of whether there will be a bounce back or are we in for the long haul? Would like to think SCS was oversold, triggering stop/loss and that the Conservative victory will generate consumer confidence. But, concerned that no one buys furniture in the summer, due to paying for the holiday. Any thoughts?
In an unscheduled trading update, ScS said trading had been hit by warmer weather last month, which resulted in fewer people spending time in its stores. The company also said that uncertainty over the outcome of the general election had “significantly lowered customers’ confidence in committing to big ticket purchases” and it was forced to increase discounts to encourage spending. - Telegrpah ( Elizabeth Anderson)
well overdone bet a few stop losses were activated
I don't think the results were bad at all. Good company with good growth prospects. Small companies always seems to be judged a lot more harshly than the big boys. Hope it drops more so I can get in at a good price (sorry holders)!
Bought a few of these today - drop looked overdone tbh Hopefully a few director buys may push us back up a tad!
No I almost always buy pm so I am in the money (just) - not that it matters as I don't trade. GS
Do you know the ex dividend date? Interested to know what value and when this would be. Ps I've also bought in today : )
Did you buy this morning?? Ouch. I do agree the fall is overdone. Yes it's bad news but this should recover....
On the basis that people will need to sit down after the election, that the fall looks over done and that I have learned not to buy first thing in the morning I have just bought my first holding here. GLA GS
It is not a bad company. In SCSW Portfolio 3 I think. Good time to buy/top up. And the dividend yield just improved 25%. GS
Another bummer
on the up
Nice steady buying this morning. No sells so far.