Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
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Not much work into this, but rough figs would agree with it being oversold. Last years pre-tax profits were around �7mil, so based on that a 10% loss on profits is only �700K. However over �30mil wiped off the market cap. Real impact of this news is the damage to future expectations. Tempted by a short-term trade, but the news does put me off a long term hold
expected to be down 10pct and yet the share price is off 53p more than 25pct. Looks a little overdone to me and a good chance get in at a low price.
http://www.digitallook.com/news/aim-bulletin/john-lewis-to-showcase-walker-greenbanks-brands-at-oxford-street-store--2594280.html Can only be positive
Tips for this year independent
Questor Floods hit Walker Greenbank shares 07 Dec 2015 | sales had increased by 6.4pc, to £83m, and pre-tax profits increased by 15pc to £6.33m for the year to the end of January The luxury furnishings maker has been hit by flooding at its fabric printing factory in Lancaster, says Questor
Shares magazine article on the flooding news: http://www.sharesmagazine.co.uk/news/walkers-desmond-distress#.VmVi97iLRpg
WALKER GREENBANK PLC ("Walker Greenbank" or "the Company") Half Year Trading Update Walker Greenbank PLC (AIM: WGB), the luxury interior furnishings group whose brands include Sanderson, Morris & Co., Harlequin, Zoffany, Scion and Anthology, is pleased to announce its pre-close trading update for the half year ended 31 July 2015. The Board is pleased to report another successful six month trading period, with sales performing well in UK and overseas markets. Total brand sales were up 8.4% in reportable currency, 9.1% in constant currency, in the six months to 31 July 2015 compared with the corresponding period last year. Brand sales in the UK, the Company's largest market, were up 6.8% and brand sales overseas were up 10.8% in reportable currency, 12.7% in constant currency. US sales delivered excellent growth with sales up 29.7% in reportable currency and 18.6% in constant currency. The Company's manufacturing operations performed well in the half year, with digital printing continuing to grow rapidly. The Board remains confident in the outlook for the full year. Walker Greenbank intends to issue its half year results on Wednesday 14 October 2015.
Walker Greenbank enjoys strong start: Walker Greenbank, the luxury wallpaper manufacturer, reported a strong start to trading that sent the shares more than 4% higher. It focuses on the manufacture of high-end wall coverings with complex designs and textured paper. The products are sold through the four main brands of Harlequin, Zoffany, Sanderson, and Morris & Co. The Sanderson brand in particular is thought to be a favourite with the Queen. The company is also enjoying a taste for retro designs and more expensive products. The best performance came from the U.S. where sales jumped 27.1% higher after an extension to the showroom in New York last year helped sales. With a decent start to the year city analysts expect sales to increase to £88 million, giving £8.7 million in pretax profits and 11.6p in earnings per share, for the 12 months to the end of January 2016. The shares have largely gone sideways this year and are now trading on 17 times forecast earnings and offer a prospective dividend yield of 1.4%. Walker Greenbank at 210p+10p. Questor Says “Hold”.
Sunday Mail today. ".....this company should deliver further growth" Investors HOLD,new investors BUY
Looking interesting again after a breather. Will monitor.
Excellent 5year chart here....15p to approx £2. Dividend paying and has free cash flow.
.....looks like you were right on that call!
......in a couple of years has done me well, but I believe there is a long way to run yet with this one...
Investec moving up to 9% there,a good runner if I had any money lol.
trade..buy/sell?....
Might be a runner ?
Business description Walker Greenbank is a luxury interior furnishings group, combining specialist design skills with high-quality upstream manufacturing facilities. Leading brands include Harlequin, Sanderson, Morris & Co, Scion and Zoffany.
Valuation: Stay on board Ahead of the announcement, Walker Greenbank’s share price had risen by 14% since our October report. However, the prospective rating remains below that of other high-end global consumer goods groups. Colefax is currently valued at 13.0x EPS for the year to April 2013, while the much larger Burberry Group is valued at 21.9x. It is still far too early to consider taking profits, especially with any benefits of the recent brand introductions (Scion; Sanderson Home) still to come through to profits.
Clean balance sheet The trading statement does not refer to the balance sheet. We indicated in our October report that we expected group net borrowings (£2.7m at July 2012) to be eliminated by January 2013. On the basis of the better-than-expected cash flow, this target should be delivered with something to spare.
Investment continues This performance reflects the consistent investment strategy of management. New collections have been regularly introduced across the brand portfolio throughout the recession to stimulate customer interest, while the capabilities of the manufacturing operations have been progressively extended, developing the techniques to offer wider opportunities to the group and third-party design teams. We have nudged our 2013/14 target higher, although because of the continuing challenging trading climate, we prefer to remain conservative........................
Another good year The profits target we set at the time of the interim results announcement is, as we suspected, proving conservative, despite the tough UK consumer trading climate. While revenues are reported to be just 2.3% ahead of last year, higher gross margins supplement the reduced overhead base, enabling management to indicate profits above City expectations. We are raising our underlying pre-tax target by £0.3m to £6.2m, implying a year-on-year rise of some £0.5m.
Walker Greenbank continues to defy the challenging UK consumer trading climate. Increased overseas sales, especially into North America, and higher licensing income are helping to sustain the momentum, while the benefits of margin improvement are coming through to the bottom line. The share price has responded positively since the interims last autumn and again following this morning’s announcement, but is only beginning to reflect the group’s consistent trading performance.
Luxury interior furnishings group Walker Greenbank said it expects pre-tax profits for the year to be ahead of the top end of analyst forecasts, following a good first half performance. The group, which designs and manufactures fabrics, wallpapers and furnishings and whose brands include Sanderson and Morris & Co, said group sales are expected to rise 2.3% on the previous year at £75.7m. Brand revenue is expected to be up 2.5%, following a robust overall performance and strong growth in certain international markets including the US, where brand sales were up 17.6% or 16.7% at constant currency. Licence income, which reflects the brands' use in lifestyle products such as bedlinen, rugs, tableware, lighting and stationery, is expected to be up 17%. Walker Greenbank said its manufacturing operations also performed well, boosted by growth in international markets.
Walker Greenbank: Seymour Pierce revises target price from 90p to 100p and reiterates a buy recommendation. WH Ireland shifts target price from 95p to 100p retaining a buy recommendation.
Appears to be good buying opportunity here.