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I look at the fundamentals here and despite the profit warning and the carnage that's going on in the market at the moment I find it unfathomable why this shares value sits as low as it does ?
If people are going to spend more time at home over the coming months surely that will result in more DIY projects. Perhaps I'm missing something !
almost 2.2m at 36.30p.
True!
Never thought I'd see it so low!
better trade
FMR (Fidelity) down to 6.75% from 8.04%.
Why not wait until 4.35pm before scratching it? :-)
... management expect adjusted profit before tax for the 53 weeks ended 3 October 2020 will be materially below the bottom end of the current range of market expectations(1) .
(1) The current range of market expectations for adjusted profit before tax for the 53 weeks ended 3 October 2020 is GBP13.5m to GBP14.5m (from yesterday's RNS).
If we take "material" to mean 10% or more, Liberum may have been ultra prudent in forecasting profits 48% below the bottom end of the current range of forecasts.
"Topps Tiles has blamed a surprise profit warning on weak consumer spending in the home improvement sector.
The tile and flooring group, which until now had shrugged off jitters around Brexit and political uncertainty, said that like-for-like sales had fallen by 5.5% since the start of the year ...
The business is run by Rob Parker, who said that official figures for the repairs, maintenance and improvement market had shown a decline of 4% for the past 7 months. He said that while Topps was doing better at converting shop visits into sales, footfall was down by 8% since the start of the year ...
Analysts at Liberum halved their profit forecast from £13.5m to £7m and changed their recommendation from a 'buy' to a 'hold' in the aftermath of yesterday's profit warning".
Should have said:
No pick-up in trading during the first 8 weeks of the 2nd quarter.
No pick-up in trading during the 2nd quarter.
With most of the period complete, the Group now expects that first half profit will be significantly below the prior year level. As a result, management expect adjusted profit before tax for the 53 weeks ended 3 October 2020 will be materially below the bottom end of the current range of market expectations(1) ...
"While UK housing market indicators have shown an encouraging improvement in the period since the General Election, these traditionally have a lagged impact on our trading and we would not expect to see any benefit from these until later into the second half - our performance during this period will be key to the outcome for the year as a whole.
17 trades so far, 435k shares traded in all, and it's not yet 10am.
79.2409p paid for 57,433 at 15:11:47
1,442,567 at 77.30p at 16:28:03
Since 21/01/2020 we have 3 huge trades
21/01 = 1,217.268
22/01 = 2,430.845
27/01 = 1,564.192
That is correct? Why we still at 75p the total = 5,212.305
Correction of error in previous post:
1,564,192 trade at 75.00p at 11:35:54
1,564,192 trade at 0.75p at 11:35:54
Was expecting an update this morning. Anyone heard a reason why we haven’t had one??? Someone bought £41k just before the bell. Could the update be tomorrow??
Guys, what's news are you expecting? Sorry for the question, but I haven't received the AGM resolutions.
Thanks to all
Obelix
Possibly a buying opportunity altho' it's best to remember stocks can only be traded when there are both buyers AND sellers!
Look at that £910k buy.........hope the news of 24 store closures tomorrow morning has a positive reaction for this buyer! That is a huge purchase.
AGM tomorrow - expect information will be limited to adoption of resolutions.
Like-for-like retail revenues for the first 13 weeks of the current financial year decreased by 5.4% (2019: decreased by 1.4%). As announced on 26 November 2019, retail like-for-like revenues across the first eight weeks of the quarter decreased by 7.2%. For the final five weeks of the quarter performance improved significantly, with the decrease in retail like-for-like revenues reducing to 1.4%.
Payment date: 31/01/20