The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Looks as if you believe they have the Market to themselves? Not the case, not even close.
If you think they can protect dividend yields in the coming period, set against the worst supply crisis ever seen, then I think you are dreaming. IMHO
Poland's wealthiest guy for good reason methinks. Pointless gaming his motives, but with a 6.5% yield he has got a dividend stream of £1.5m a year at the mo, whilst he decides his next move. He clearly sees this as woefully undervalued at this price - cornered the market in specialist tiles in the world's 6th largest economy....good for him
'Puzzling? Didn’t they just buy the shares from AXA.'
That's right - puzzling on Friday because that wasn't known - not puzzling today because the expected RNS's I mentioned have been issued.
So, deliberately just below the magic 30% level, for now at least.
The puzzle, if there is one, is that one would have expected the crisis in production of the core of the business is entering unknown territory, with many producers unwilling to ask the price they would have to in order to break even. If TPT were to be buying at the new surcharge applied this week, their retail price would require eye watering upwards revision. And, as gas prices have risen sharply since the surcharge was announced, there's every reason to expect further additions.
What value would this leave in the short to medium term?
Puzzling? Didn’t they just buy the shares from AXA.
Yes it is all very puzzling. I merely point to the data again today - 11m shares bought today ( ie 5% of Topps) nearly all in just 6 buys and a only couple of thousand sold. Price should be through the roof unless undeclared sellers. AND - who's bought them? I reckon there are a couple of RNS's due.
All a bit puzzling really. The gas crisis is causing all kinds of issues for tile producers, costs are something close to 10 x what they budgeted for. That's got to cause issues of availability to retailers, not to mention eye watering price surcharges. Couple that with a recent doubling of transport costs, and I'd have thought this bloke has got his timing all wrong. Still, if you're in it for the long term, it could well do more damage to other retailers. Survival of the fittest.
IMHO
NoSweat, I could certainly do with a change of luck instead of bundling into takeover stocks that then have stalled ( eg Playtech) and catching a cold. Looking today its showing 2 million plus being bought at 47p against 50K sold - must mean something surely.
He's been pulling his Ceramics firm out of Russia and one has to put one's money somewhere- of course it's always best to stick to what you know. Looks like Happy Days to me , Gruyere.
Well that's another jump in Galleon's holding to over 25% of Topps....and thus the share price moves upwards. Its still cheap in historical terms and as I understand it, at 30% a bid has to be made. So maybe, just maybe its a takeover target...nice to think so anyway.
Wow - It's only just turned 10am in UK and there has been £220.9K worth bought and £1.3K sold.
Agree. Galleon has been adding to their holdings over the last 2 years and must be the largest holder now. Dare one hope that he may consider buying the company ?
Sorry I can't answer that one. But it's picked up today because Polish billionaire, Michal Solowow has upped his holding .
Anyone know why the 11% spike this afternoon considering only a few weeks ago I’ve read about rising costs of raw materials
Previous posts have identified the challenges that are facing TPT. Cash flow at the interims was poor, but of course a plus point is that there is no debt other than leases which are probably still too expensive.
Anyone know why we have dropped 6% today ?
I can't see anything wrong sofar.
My understanding is that MS Galleon AG (Vienna) is controlled by Polish entrepreneur Michal Solowow and in October he acquired 21.1% of TOPPS, so it is clearly of interest to him and his bathroom ceramics company, CERSANIT. They are currently pulling out and selling off Russian interests due to the situation in Eastern Europe. Makes me wonder what the next move might be.
Today's LTIP announcement is depressing. Essentially the directors will recieve c50% of their LTIP entitlement for simply maintaining FY24 basic EPS at the same level as FY21 i.e. 5.89pps. Challenging in the current environment perhaps but hardly ambitious.
Strong agreement that the future is looking challenging. The gross profit margin continues to slide, to be competitive it may need to slide a heck of a lot more. The launch of a low price web model suggest they have stock they're stuck with, it's like a return to their clearing warehouse concept that failed last time around. Massive increases in factory prices, a doubling of European shipping costs along with major delays and shortages are things that no importer can avoid. they'll be a fact of life for a long time to come. Unless they are increasing their final pricing by a large amount, they have to work on tighter margins. This could vanish the net profit at a stroke IMHO
Been in Topps since 2003 and, since the capital reduction in 2006, we seem to have lurched from one economic malaise to another. Every time Topps has started to build some trading momentum (and the prospect of some share price recovery) we've been hit by one economic crisis after the other. Topps is nothing if resilient but it's never been able to regain the heights it reached post millenium and I'm resigned to the fact that the short/medium term outlook does not bode well for the bottom line. I continue to hold in hope rather than expectation.
Topps has served up a pretty positive update.
Strong sales growth, resilient margins and cutting store base down saving money without losing two many sales.
Next year could be tougher though
I will hold for now to recover loss position but confident that Topps will trade through tougher times
Looking at the last five years results they have only missed paying a dividend in 2020, all other years it was between 3.1p and 3.4p per share. Even if it's only 3pps this year, that's still a cracking return if you only paid 52p for the share.
Crikey ! Was the CEO reading my posts?
Headwinds indeed, no way they are going to pass on all the increases incoming, huge gas price inflation leaves the factories with no choice other than to pass them on, a suspend production. Yes, it affects everyone, but it will create a pause in consumer buying until these shocks sink in IMHO
Beware industry shortages, brought on by factory suspension of production. They just can't make a bean at current energy prices. Europe has caused this, years of so called green policies coming home to roost.
IMHO
Strong RNS this am
Revenue up, profits up
Confident enough to return to paying a dividend
Could attract some further interest now that it is back to paying a dividend