Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
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Nov 30 (Reuters) - British tile retailer Topps Tiles
on Tuesday resumed dividend payouts as full-year profit jumped
more than four-fold, driven by demand from people redoing their
homes during the pandemic.
The company that focusses on renovation, maintenance and
improvement of homes in the United Kingdom said its adjusted
profit before tax rose to 15.3 million pounds ($20.4 million)
for the year ended Oct. 2, from 3.6 million pounds a year
earlier.
You have an interesting take on the current price levels kingrav.
They're not cheap in a Topps store, with their level of gross profit they can't be.
Headwinds in the industry as building slows down due to product shortages, and massive increases in gas prices create shock waves through producers globally IMHO
Have they just bought a 21% stake in the company.
If so, a takeover bid may be imminent.
It's the same for their competitors too.
People will pay the going rate,whatever it is, as long It's a current competitive price.
Tiles are cheap anyway.
Margins coming under pressure from multiple price inflation. Raw materials, manufactured products, energy, shipping, haulage, all are undergoing step changes in price. Also labour costs and availability will create increased challenges. Will the consumer accept all of these cost additions? Not an easy call for any retailer in the next few years IMHO
Record revenue, profit above top end of analyst forecasts, high levels of cash and return to dividend for full year.
Share should rise but even if it doesn’t I will hold.
Need so much patience here
Topps Tiles’ discount unjustified, says Peel Hunt
Peel Hunt is struggling to see why Topps Tiles (TPT) is trading at a discount to the sector and says there is scope for upgrades.
Analyst John Stevenson retained his ‘buy’ recommendation and target price of 100p on the stock after a third quarter trading update showed that the retail rebound continues. The shares closed down 0.7%, or 0.5p, at 71.4p on Wednesday.
‘Topps shares are trading on a financial year 2022 price/earnings [ratio] of just 10.7x, with scope for upgrades,’ said Stevenson.
The analyst said the group’s plan for taking £1 in every £5 spent on tiles in the UK within five years ‘would see the shares on 7x price/earnings’.
‘Given the group’s strong balance sheet and dominant market positioning, we struggle to see why the shares trade on a discount to the wider sector, more so given the attractive yield characteristics,’ said Stevenson.
... On a two-year basis, Retail like-for-like sales increased by 12.9% over the third quarter as a whole, and were up 18.5% in the eleven weeks since the stores fully re-opened...
We remain positive on the trading outlook for remainder of the financial year, and are well positioned to take advantage of increased consumer confidence and spending as we focus on our market share goal of '1 in 5 by 2025'*."
unable to see my post of earlier, hope this will bring it back up
"The re-opening of our stores to all customers on 12 April has once again been received very positively and we have seen a strong recovery in sales and gross margins, with Retail like-for-like sales 16.8% ahead of the same period in 2019 in the five weeks since re-opening. We are confident of a much-improved performance in the second half and believe the Group remains well positioned to take advantage of an expected increase in consumer spending as we focus on our market share goal of '1 in 5 by 2025'."
-- GBP32.7 million increase in adjusted net cash against H1 2020;
-- No interim dividend declared, however it is the Board's intention to
reinstate dividends by the end of year.
Oh really?
You're not some cheapskate marketer then.
They've been doing it for years, and are nowhere close to being competitive to the online boys and builders merchants.
It seems that TPT have started to sell outdoor paving. It's a neat idea in that the stone-effect slabs are supported by robust plastic pillars that are easily height adjustable. An alternative to decking and traditonal paving with many advantages that I only heard about this month.
I've sold here as I think consumers are going to focus more on outdoors (I think everyone has had enough of doing things indoors/ on their houses for now). I've Invested in the likes of RBG, FUL and CRL as I think people just will want to just doll themselves up and get drunk from now until xmas....
Nevertheless I think this is a nice medium term hold, nice steady rise will continue to at least £1... great one for the pension pot CDF :)
GLA over and out
Are you imagining that there will be a rush of folks queuing to get in on Monday, when they have been merrily buying online throughout? Ask any carrier's driver, they've been tail lifting pallets down on to kerbsides at a record rate. You should realise that Covid has accelerated the demise of traditional shopping by many years. This mob will have to go the same way eventually, but will have to deal with the pain of store closures first. IMHO
Jed, spread down to 2.
Bought at 69.4p
I thought about buying in here but the spread is too high at the moment at 4p ish.
Nice investment for the mid-long term and will hopefully top up my pension pot.
Groovy grouters getting ready for the 12th !
GLA ATB
Can't say I've heard of anyone not making it through, given the generous level of support, and the fact that trade sales have remained strong throughout.
You're welcome to your view. but I don't think the market is with you, and IMHO they should be wary of any retailer with more than 300 heaps of bricks and mortar to fund. The web sellers have massively lower cost bases.
Hello,
Lots of smaller firms haven't made it through this pandemic, giving chains like this to sweep up customers (not that I'm indicating a distressed debt strategy). Interesting article regarding this and some factors revolving around this here:
https://www.ii.co.uk/analysis-commentary/uk-shares-pros-are-backing-play-post-pandemic-recovery-ii515573
Interesting claim by JoeKenny "has had a lot of its competition wiped out".
Who has been "wiped out" ?
I'd have thought that the online outfits would have done rather well, and haven't seen any signs that other retailers have failed?
Quite agree, good article that refers to this notion of reopening in particular:
https://uk.finance.yahoo.com/news/why-think-topps-tiles-decent-125923064.html
Solid results and forecasts - Resilient trading over Covid. Very safe share combined with likely growth over the next 6 months makes this a definite buy up to at least £1.20 for anyone's portfolio imho.
Solid report, I think we should see a nice increase here judging by how much this increased after easing last summer. Can't beat a company that's profitable and that's had a lot of its competition wiped out.
Great 6-9 month play here back to £1-1.50 IMVO
LawStudent95,
No time-frame but I think one can assume in the short-ish term.
My post was the article in full.