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many thanks Ejackson we live in hope.
THIS TIME NEXT YEAR RODNEY,ha ha
https://www.edisongroup.com/company/studio-retail-group/2061/
Not that we have ever come close to their previous valuations but can't do any harm.
To right skindle,we have sold of healthcare,kitbag and now education and not a dividend insight,just drowning in a sea of debt,which seems to be never ending.it is us pi's that also had a little say in spd not getting there grubby hands on our business to,so if a director is reading this message,sort it out.
Rant over
Regards columbo
You should be sitting on our board Columbo as the spokes person for shareholders. Your great idea simply won’t happen though unfortunately as our pension pot and core debt will take priority. You would get my vote for sure.
Findel education sale 48m
10m to be paid to the long suffering shareholders,afterall its not our fault we have been in a mess over the years is it now.
The rest to be used for paying down the debt and towards the pension fund.
Just thinking out loud of course.
Curious announcement. Schroders have reduced back to where they were before the half yearly report. They were 18.974 per cent and increased to 19.268 per cent, only to reduce again back to 18.971 per cent. If the outlook is so bright why reduce ? Why also did none of the directors buy more ?
https://www.investorschronicle.co.uk/shares/2019/12/17/studio-agrees-sale-of-education-business/
Some reasonable sized sell orders going through. The last time this happened, Schroders announced they had topped up.
I wonder if they are nibbling again?
.....or anyone else Ejackson, who is hopefully going to work out that we are extremely good value at £2.34 per share. It may take a while but eventually the penny will drop.
A useful reference point for Mr Ashley should he decide to engage again at some point in the future.
Correction, £5.45 per share, my apologies.
The Findel Education sale price was equivalent to 10.3 times EBITDA. If you apply the same multiple to the Studio 2018/19 EBITDA, that values us at £471,658,000, or £5.71 per share !
I will reserve judgement until the next RNS in mid January giving some actual numbers for the pre-Christmas trading period.
Initial guidance suggests this will make good reading and we could see the market respond positively.
Morning fellow shareholders. I was delighted to read about the disposal of Findel Education yesterday morning and felt confident that our share price would rise significantly despite our very average half year results. No improvement in revenue was very disappointing. I was hoping for a sufficient increase in revenue to offset the PPI exceptional cost. I think the company will now struggle to meet expectation at the financial year end. So where do we go from here ? I fear a move back down towards 200 pence in the short term. Meanwhile, over at Sports Direct, a different story. Mr Ashley, like him or loathe him, his half year results were quite frankly exceptional. Maybe our board should be working more closely with our largest shareholder as they quite clearly know how to extract maximum profit from their vast and varied product range.
After a promising and I felt justified rise in the SP following today's RNS's, we appear to be back where we started. Meanwhile over at SPD....
Agreed 1GW.
As Skindle also states, I think that is an excellent price for Education.
The PPI continues to rumble on though and whilst everything else looks positive, there may still be an uplift on the provision they have made.
The news we have all been waiting for. The sale of the business for an excellent price of £48m after costs, well done to the board for taking this action. We all knew it was the right action to take but actually securing the sale was certainly not an easy task. Revenue for the first half was disappointing but adjusted PBT was up due to improved overall efficiency but hampered by the additional PPI payment of £7.9m. I am delighted and hugely relieved that Education is now being sold. This could lead to a significant re rating.
Good news overall I think, although statutory profit looks a bit sick. Great to see the news on Education and underlying profitability & Q3 outlook encouraging. PPI no worse than previously suggested, but not closed out yet I think.
My guess is news on the sale will trump any disappointment with the statutory numbers in terms of market reaction, but who knows?
Note to self....don’t play poker with 1GW....far too shrewd particularly as I am a more ‘all in player’. Your investment strategy has served you well and again, a very understandable decision when it comes to this company.
Thank you Skindle for your post.
Fingers and toes firmly crossed for tomorrow.
This is confirmation that Sports Direct will not be making another offer for STU.L until at least the 1st March 2020.
4. Consequences of a failed takeover offer
The City Code provides that, if a takeover offer fails or lapses (e.g. because the required acceptances or approvals are not obtained), the bidder will not be able to make another takeover offer for the same company for at least 12 months (subject to certain exceptions).
Given the strong bounce I've sold back the ones I bought in October, taking a c. 10% profit on them, just in case of any nasty surprises on Monday.
There is no denying the recent positive move in our SP Skindle. Here's hoping it's well placed and we have some pleasant reading on Monday.
This is the most significant pre result move in a long while, maybe there is something more in the half year announcement than just the figures.
should help with the cost of sales.
They are Ejackson, but to be fair they justified their decision to delay the release of their results because of the general election. All shareholders of STU.L are hoping for news that Findel Education is to be sold or that SPD have finally decided to pay market value for our business but the reality is neither of these will happen. We will enjoy an increase in revenue but there will be an impact on our profit before tax because of the late PPI claims that flooded in during August. Let’s hope this is enough to lift us back to our undisturbed share price.