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Started: BlackBoulder, 19 Jun 2024 11:17
Last post: alfista, 19 Jun 2024 13:58
And such a small loss per share, brilliant work.
Grant Thornton has given Victoria a clean, unqualified audit report for 2024 and, amazingly, has reversed the qualification in their 2023 audit report. They have specifically stated that they are now satisfied that there was never any financial misconduct at Hanover, all monies due to Victoria were received, no money is unaccounted for.
So all the shorter-driven hoopla in these chat rooms and in the mainstream media claiming financial misconduct at Hanover (a subsidiary of less than 1.25% of Victoria’s group revenue) has now been debunked.
Scandal sells newspapers and various mainstream media publications, notably The Times and The Financial Times, milked the story for all it was worth printing scandalous articles about Victoria on the front pages of their business sections with sensational headlines, using words like “fraud” and even “terrorism”, with catastrophic consequences for Victoria shareholders.
It will be interesting to see if the editors of those publications have the moral fortitude to print an equally sensational apology on the front pages of their business sections now that it is categorically clear that the story was all complete nonsense.
Started: PlatinumHeights, 18 Jun 2024 11:30
Last post: PlatinumHeights, 19 Jun 2024 08:41
Looks like the report was bad news for the shorts.full audit excellent news good recovery from last years qualification. Hanover issues look to be completely satisfactory.
Short squeeze??????????? Ohhhh yes
As expected.
An early results announcement seems to be positive news pending ?
The longest known short position holder closing over the last few weeks is only a further sign of good things to come
Maybe it was a revolving door and they went full circle?
A depressed market rules the roost for household spending, and it's hard to see when that reverses. Not any time soon IMHO
Thanks
Last post: PlatinumHeights, 17 Jun 2024 10:54
Clearly some of the shorts have existed the building.
Clearly the shorts trying to artificially subdue the sp. This will take off very soon- time to close those positions- don’t be greedy
Can anybody explain the process of a sell of 1 share thanks
Started: Troughsnout, 6 Jun 2024 13:53
Last post: Troughsnout, 6 Jun 2024 13:53
Still no report and accounts for 2023 (two months past due date) for this "sensitive" subsidiary (it was the subject of Grant Thornton's qualified group accounts audit report). Very unusual for a subsidiary of a group plc to be that late in filing. But then not surprising given the implication/suggestion of money laundering in the group audit.
Last post: BeardedDragon, 31 May 2024 17:26
So what happened today May 31st? Down below 200p! Glad I sold last week but may look to jump back in at the right price. Any thoughts?
Boldhaven short reducing. Couple little buys from directors after share buyback scheme done. Aim 100 flying.. might see a bit of bounce in days ahead
Started: PlatinumHeights, 21 May 2024 09:03
Last post: smkr, 25 May 2024 20:50
Looks like it’s ready to have another attempt higher this coming week
Looks like next resistance 253 will be broken shortly .
They best get them closed soon before it heads to £4
Looks like shorts are closing fast. Dyor
Started: PlatinumHeights, 28 Apr 2024 11:22
Last post: PlatinumHeights, 13 May 2024 10:53
The optimism has dwindled along with the sp. Mismanagement from the clowns at the top. Time for a clear out and a change of direction this cannot continue. When are the bonds due ?
Wonder what happened to that optimist a month back who was looking forward to seeing the positive effect on the balance sheet for the share buy back? 270 was the price then.
Ooops !
Stevie wonder must be the captain.
They were hardly a raging success were they?
Good money after bad is never a good use of scarce resources IMHO
Any one know what is going on with the buybacks ?? bond holders dropped anchor??
Started: crooksc, 5 Apr 2024 08:12
Last post: alfista, 26 Apr 2024 15:07
Consumers aint in the mood, that's my assessment. Not surprising when viewed against the current newsflow. Nothing but negativity.
Agreed ! Although I have check it’s £25 million looks like the FD put the breaks on the buyback. Would have been embarrassing for him if the cheque bounced. Something is seriously wrong here.
Doesn't really matter, I can't be ar$ed to look back. Fact is, someone is selling more, or shorting more.
Was it an announcement for 25 million shares or £25 million ? ?? -
Was it a gamble that tried to shore up the share price?
Looks like they made a very bad calculation.
Started: PlatinumHeights, 4 Apr 2024 16:45
Last post: PlatinumHeights, 4 Apr 2024 16:45
This has not traded like this for a while. Can only be the shorts closing positions.imho
Started: PlatinumHeights, 13 Mar 2024 07:45
Last post: PlatinumHeights, 3 Apr 2024 11:34
So far vcp has purchased 1.481 million shares at a cost of around £3.7 million. That leaves them able to purchase around 5million shares. The two short funds have to purchase around 2million shares . In a very tight illiquid share it will be very interesting!!!!! SHORT SQUEEZE ouch
It appears things are heading in the right direction. All the synergy costs have been vested now the cost savings should be seen. However this will be tempered somewhat by the difficult backdrop.
Vcp is well positioned to take advantage of the uptick once it arrives after the election.
Short term positive momentum from buybacks and don’t forget the shorts have to buy back at least two million shares in a tight market. Once we we break past the 275 resistance level we could see a breakout past 300 next week. Happy Easter- bunnies
I for one have closed my short in good time. If the company keeps buying back into treasury then the bigger short funds will be struggling to find enough shares my calculation is around 1.8million shares to find not so easy if vcp keep buying - the question is what level will they be tapering off buybacks ????
It appears that manufacture has been outsourced so that plants stay closed. That means margins lost.
A conundrum.
Too much capacity in the industry, not enough demand. Strange that the brilliant management team are discovering exactly the same outcome as the other producers.
Management team too big and expensive?
Following your logic, why carry on paying them?
Would you carry on paying staff you didn’t require ?
Started: PlatinumHeights, 23 Jan 2024 17:49
Last post: smkr, 9 Mar 2024 10:08
Volume yesterday was highest since December. Maybe found the bottom of where people are prepared to sell t’other day.
Looks to have turned a corner
Free fall !!!!!!!!!
Get out while you can
Wilding & co not buying any shares even at these lows is indicative at the lack in confidence they have in the business. He sold out @£8.50 !!!! Rudderless clueless. Headlams results today mean only one thing for vcp a total wipeout for shareholders . Dyor get out while you can.
New lows being tested - another qualification on the horizon??? only route out of this debt spiral is a cash injection from the beleaguered shareholders. Get out while you can. Wilding & co out of ideas and out of luck.
Started: PlatinumHeights, 23 Jan 2024 17:53
Last post: PlatinumHeights, 23 Jan 2024 17:53
Where is wilding probably ???? My guess somewhere in the Atlantic with no fuel in the tank. Why hasn’t he propped up the rest of the shareholders he bailed out £ 50 million @ £8.90.
Started: Everestingly, 23 Jan 2024 17:07
Last post: Everestingly, 23 Jan 2024 17:07
Smkr, I agree. Looks like a double bottom from
250 at end of Nov and then again last week.
Started: stargate, 22 Jan 2024 15:49
Last post: smkr, 23 Jan 2024 09:57
Looks like a bottom has been found
Return on capital. 29.18, yet most of the accounts are in the negative, and the comment of 5/12/23, suggested the accounts for more than one year have not been properly audited . Speculative equity.
Started: Alessandro, 7 Dec 2023 10:48
Last post: Alessandro, 7 Dec 2023 10:48
Has Victoria ever made 1 pound of net profit? Why is this company rated quite highly against, in my opinion, quite poor performance?
Started: Troughsnout, 5 Dec 2023 00:38
Last post: Troughsnout, 5 Dec 2023 00:38
Adds the comments from mgmt from the earlier post and some further thoughts....
https://brevarthanresearch.substack.com/p/victoria-plc-company-responses-to
Last post: Lollytom, 23 Nov 2023 17:08
Hi
City watch.
My many yrs at this game has learned me never to follow broker comments in past.
However I do believe this is a well run unit so I wait and see I do hold fair few of them.
But always be broker ware tips.
Started: CityWatcher, 22 Nov 2023 15:12
Last post: alfista, 23 Nov 2023 16:30
Followed by ?
Boom
I guess it depends on whether you think the broker has it right? The tile market could undergo a lot more changes in the short to medium term, possibly leaving some expensive real estate vastly under utilised. Or not. of course, The nroker may know far more than us mere mortals.
A nice buy at this price today considering a broker target price is £8 - 80. Yes EIGHT QUID & 80p. Invest today & be happy with £6 even.
Broker Recommendations for Victoria (VCP)
Date Broker Recommendation Old Target New Target Rating Type
02-Oct-23 Berenberg Bank Buy - 880.00 Reiteration
Started: Madtom, 22 Nov 2023 14:49
Last post: Madtom, 22 Nov 2023 14:49
Wow, Bloodbath here today !!
Very poor market reaction to half year results.
Started: Troughsnout, 14 Nov 2023 12:39
Last post: alfista, 18 Nov 2023 15:57
Agree with that. In fact, you are now agreeing with my view about what folks on the ground are saying in the tile producing areas. Funny that.
Well, the bonds traded up after the publication of the new rating so clearly it wasn’t a surprise and the market wasn’t concerned about it. Virtually every company in the sector has experienced ratings’ downgrades, and some double-downgrades, due to the macroeconomic environment.
Another day another downgrade....First Moody's and now S&P. No RNS for either though, despite the one celebrating the prior stable rating from Fitch.... Rather a selective approach, n'est ce pas?
Started: CityWatcher, 13 Nov 2023 15:53
Last post: CityWatcher, 13 Nov 2023 15:53
For now in present market & housing conditions it must be a weak buy for their recovery. Maybe Berenburg's target price of £8 - 80 is too higher forecast, however I would sure settle for £6 -80. Nice return if it gets there or beyond !
Started: BlackBoulder, 13 Nov 2023 15:11
Last post: BlackBoulder, 13 Nov 2023 15:11
More sensationalist tabloid trash, this time an article in The Times today.
Contrary to the headline which suggested that Victoria’s board was expected to be “carpeted” at the General Meeting today, 97% of shareholders voted in favour of the two resolutions, accepting the annual accounts, and reappointing the auditors.
Started: BlackBoulder, 12 Nov 2023 09:11
Last post: BlackBoulder, 12 Nov 2023 09:11
Last week’s FT article about Qasim Karim is tabloid trash.
The story focuses on the criminal activities 13 years ago of the younger brother of two of Victoria’s managers. Not the Victoria managers themselves, but their younger brother, who has never worked for Victoria.
The two older brothers, Batash and Saqib, are successfully managing two of Victoria’s smaller subsidiaries, Hanover and Ezi Floor, which together account for around 2% of Victoria’s group revenue.
Qasim’s quoted comment that Victoria also tried to acquire his paints, varnishes and sealants business 12 months ago is delusional nonsense. Victoria is not in the business of paints, varnishes and sealants.
It is interesting that The FT turned off the comments on the Qasim Karim article, and interesting that shorters loaded up the day before the article was published.
You have to wonder who is motivating whom to publish such sensationalist tabloid rubbish.
What the article does inadvertently do is destroy one of the theories propagated by the shorters, that Hanover and Ezi Floor were not acquisitions at all but elaborate accounting frauds, which the investigative journalist who wrote this article has clearly shown is not the case.
The criminal activities of younger brother Qasim Karim 13 years ago are of no relevance whatsoever to the future prospects of Victoria PLC. The market has clearly recognised this with the share price having gone up 25% in the week since the article was published.
The shorters lost money last time they manipulated the share price down with their baseless rumours and trolls, and they’re going to lose money again this time.