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Fully agree Panda. In a spare moment I did a search of about 20 Works shops and approximately on average the reduction is around £6000. One shop, I forget where now, had a £25000 reduction. Multiple that by 500+ shops and that is a heck of a saving across the estate. Certainly this contributed to me topping up this week.
Thanks Steve17 - I was surprised it wasn't specifically mentioned during the autumn budget as retailers have been calling out for business rate revaluation for years. It's a big boost for high street retailers and should make them more competitive with the likes of Amazon etc.
I have just done a dummy purchase of 10,000 shares and the best quote is 33.77 so in this respect all those buys have driven the price up to buy from 33.49 to 33.77
That is why there are market makers. They have to provide liquidity in the shares to enable a buyer without a seller of vice versa. In higher volume stocks this is obviously less of an issue but the MM may take long it short positions depending on their view of the stock.
Yes. That is the reason. But still completely wrong...
Not always sometimes there are plenty of buyers and no sellers , so the share goes up to bring in some sellers to create stock.
For every buyer there is a seller!
Hi I think it is because 33.49 is nearer to 33.1 than it is to 34 so the midpoint is 33.55 and all the trades have been below 33.55 so the system thinks it is a sell. But if a trade goes in and it costs more 33.55 it will show Blue. But at the end of the day the market knows they are buys or the share price would have gone down.
Interesting. I've bought 50,000 shares this morning. Every one is showing as a Sell. Proves once and for all that the trade information on lse is total junk! I seem to be the only one trading. Shows correctly on TheWorks website...
Very good find Panda and thanks for highlighting this. I entered about 20 Works properties and the reductions are significant.
Just bought a little tranche of The Works from a nice little profit on Card Factory. Can see both of these shares improving over next year or two, but also hoping dividends being paid over next day or two will be partially reinvested (which I'm hoping will boost the sp).
E.g. Burnley store https://www.tax.service.gov.uk/business-rates-find/valuations/start/125036123
FUTURE from 1 April 2023 £22,500
CURRENT 12 December 2017 to present £36,250
38% reduction in business rates.
The Works owed £14,165k in business rates in 2021 (waived during Covid), so a 10% reduction is significant, especially considering 2023 Adjusted EBITDA is estimated at £9m.
However the business rate reduction is likely to be much higher for the works as they have seen much larger falls in rental prices (from which business rates are calculated).
Pick any Works store on Google Maps, enter the address into https://www.gov.uk/find-business-rates and you should see a significant reduction in 2023 business rates.
https://www.ft.com/content/e6a67f33-1609-45f9-92d2-8883a78134ea
"UK high street retailers are big winners under new rates revaluation
Bricks-and-mortar retailers will pay significantly lower business rates, while operators of large warehouse and logistics facilities will see their bills jump, following a revaluation of commercial properties announced alongside the chancellor Jeremy Hunt’s Autumn Statement on Thursday."
Ash a thing to remember even though the numbers always look amateurish like a high school graduate this shop has loads of customers we have spent £30 in there this week. Also they turned over 10.3 m of profit and paid a 2.4p dividend and they have about 525 shops. So maybe they throw in this bad news to create a selling spree in order to start buying back big style. So even though I criticised their numbers representations I am holding my shares. They normally are about 5-8p behind card factory now 36p ? so do not be put off from buying.
HB you are right down to 2 million from 16 million at last year end
Staggering reduction.I was contemplating buying more after a buy on 11/.11 but wisely waited. I have gotten out with a loss as companies cannot misrepresent their financial situation. Earlier in the year they did not make it clear that they had 16 million cash. I wonder whether that figure also included money drawn from RCF. Moreover Hoyle family has got more to unload I suspect due to family situation. May contemplate buying back in.if it were ever to drop to around mid 25's where risk reward will get considerably better
After the amendment the numbers are even more confusing. Now they are saying they have got 7m with 5m due after the update so does that mean they now have 2m 7m - 5m = 2m can anyone advise differently.
It looks like Graeme Coultard has increased his percentage holding from 3.06% to 4.16% you would have thought this is good news.
Hi,
Can someone please explain....
The Group's financial position remains strong with net cash of £11.0m(4) at the Period end. This cash position benefitted from the timing of the Period end, as approximately £5.0m of October payments were not due until 31 October, the first day of H2 FY23, albeit the cash position also fully reflects the build of stock prior to the peak trading season....
How does it benefit the cash position? is it saying that £5.0m bills were due to be paid by WRKS the day after the end of the trading period so cash was only £6.0m as at 31st Oct?? Obviously appreciate some of the £ spend has been on Xmas stock...
bb2
Any surprises here? I didn't think it would fall this much. Happy with the divi but would like to see growth ready for the next update
Ex - Dividend date. Taken from the LSE future dividend register.
Shareholders who own shares in the company before the market opens on the ex - dividend date (3rd November) will receive the dividend payment. Share bought on or after the ex - dividend date will not qualify for the dividend.
No problem, PF. The works seems a good hold at the moment will add a few more if it drops below 30. I needed some refill A4 pads! Works cheaper than Tesco. Just hope the margins don’t get too hammered. Gl.
The registered date is the day after x-div date as it takes two days for any sell to “settle”. So two days after the trade date. So if the sell on x-div date you still are registered the day after for the “registered date”, then the trade is settled the day after. Hope that helps. Google settlement date.
Yes it says ex dividend on HL