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Yes, and it took 40min to be executed.
Two of those 10 grand buys at lunch time were mine but there was a third that wasn’t - was that you? Lol
Still about and still in big, don’t think you will have to wait until July for your 70p +
RNS next week, probably Thursday and then rerate to around £50MC
Hi nr98/Caramulo
Smorty are you still here?
Yes I follow this everyday and just starting to build a sizeable position.
Card Factory is my “baby” but Wrks is my bit on the side and here’s why…
Interim Results
RNS Number : 1631Z
21 January 2022
“The Board proposes to bring forward its review regarding dividends, with a view to recommending a final dividend for FY22 provided the preliminary results to be published in late July 2022 are in line with the forecast noted above.”
70p + written all over it in July IMO.
This thing trades at <2x EBITDA with a respectable FCF conversion %. A good print and dividend reinstated should be a nice catalyst for the stock to return to north of 60p and perhaps 70p even... fingers crossed.
Is anyone still following this? Seems like Jupiter is selling.
Brilliant RNS, ready for take off.
Business section of the Times today RH, in the pub now celebrating the gain, will post link later
I wonder if it was a recording?
Quite surprised that he would say anything today knowing that the results are out today.
Smorty send a link where you are getting these freight cost reductions please because if it can be verified then that is great news for CARD also. Cheers
50mc before year end
Looking at Wrks, net cash, looking to pay a yield, albeit in a few months, signalling big H2 profit and full year EBITDA c.£15m, freight costs should swing back in its direction by all accounts IMO/judging from posts and googling for a view, so why still only market cap of c.£40m? DYOR
Views? What am I missing please?
Thanks
Baltic freight index is down to around 1500 from a high of 15000, think he was probably saying what they had been paying for last years stock, normal levels going forward.
Well that was interesting and totally out of the blue.
Just listening to Radio 2 and Gavin Peck “Chairman of The Works” came on saying something along the lines about the recovery going really well but Freight is a problem.
He said that a typical cost of a Container has gone from £1600 to £15,000!
Thought I would share.
Freight charges are plummeting almost back to pre-covid levels, so going forward that saving will be going back on bottom line and not into a bottomless pit.
Nice jump up to 67.2 to sell soon be top of leader board. Good call guys as I followed you.
house broker Investec are saying drag from freight is £3.6m. very annoying that isn't in the statement. anyway, add that back to profits and we get a very nice number. just thought that investors should be aware
Smorty is bang on the money. Half year ebita £2.5m full year £15m in the RNS. So company is saying £12.5m in H2.
What I like is the pre covid comparison six months to 31st Oct 19 ebita £4.3m loss now £2 5m profit.
PBT loss £8m now £1m.
All of this despite freight issues minimum wages rises.
Company is also cash generative and Pbt can be misleading with £18m cash a 4-5p dividend £3m cost is possible
Jed think you will be looking at 3-4p dividend.
I think that's the air bubbles coming out as it sinks back to £2.50 ish
P.S. I got a feeling Saga is about to blow! Bought a load on a CFD just now.
Cheers lads, appreciated
RH this is a 6month report, Wrks always make their profit in the 2nd half of the year so a -£1m is very good, normally be looking at -£3/4m
A share holder who purchases before it goes ex dividend is entitled to the dividend, and they won’t announce any dividend until end July when they report full year figures.
And in answer to your question Beach a MC of £50m before then is on the cards.
Hi cerny I’m no expert but the way I’m reading this is that Wrks yes made a loss but it’s shops were locked down for part of the period reported so are saying that the the divi is based on no more lockdowns?