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Tough for the frontline staff that will lose their jobs but it makes sense to streamline the business and adapt to the online booking trend by closing stores as and when appropriate.It appears TC continue to find it difficult at the present but hopefully will recover somewhat when the review is complete and some confidence and customers return. Let's wait and see if in this case there really is a silver lining?
Been a holder here since virtual startup and seen the company progress nicely. I am sure this current slide in share price will be of concern to the board especially after recent concerted "buybacks" at considerably higher prices not proving best value for money IMHO other than to those on incentive schemes geared to earnings per share.This is a trying time for the motor industry in general pre Brexit etc and this current slip proves that even generally well run outfits such as VTU are not immune to vagaries of the market in general. I M H O
Just back from a TC holiday in sunny Turkey and found the staff/service etc excellent. This SP looks as cheap as chips but so many factors appear to have hit TC from the recent update. Taking the opportunity to buy a few shares here as overall I think there could be a profit opportunity in the medium term once all the dust settles.IMHO
A very controlled selling culture and process not necessarily for the benefit of customer satisfaction has been my experience when dealing with some Pendragon outlets previously I am afraid to say. The customer should always come first in my opinion a poor approach to customer satisfaction evident which doesin my humble experience.
I expect the numbers to be pretty much in line with previous market expectations Stalin although I was slightly concerned with the downturn in new car sales but even that was factored in on previous estimates I would bet. The business is very much geared to squeeze every penny out of the after sales market through service plans etc and that appears to be performing well.I switched some of my holding into tsco a few months back (got in at 1.71)in expectation of the Booker news and that has bolstered my finances nicely on paper so far thank goodness.Fingers crossed for The VTU year end figures to put a little icing on the cake but as previously stated not getting too excited at the mo.GL
The expectation versus reality factor appears to be hitting home hard today after recent gains but overall the trading update does not make bad reading in my opinion. Pre release euphoria in some sectors of the press "over egged" the facts somewhat when in truth the actual update is bit of a "curates egg" in all honesty. Slightly disappointed that we are looking at this degree of slippage in the SP but given the pre release excitement investors were feeling not really surprised that the dampers have been applied. Well done to those that sold a bit of their holding at 2.14 as it looks like there will be plenty of opportunity to bag a quick profit and then "top up" if you so choose. I think we are still on track to improvement here once we get into March and have shareholder approval on the Booker merger.IMHO GLA
I personally bought into Tesco as I thought there was a great opportunity for a rivival for them under the guidance of Dave Lewis and found the proposed buy up of Bookers appealing in terms of added value. So far it appears to be progressing to plan and I (as we all do) await to see the trading update tomorrow followed by shareholder approval for the Booker deal. It appears all of us have been out spending our hard earned cash at one or other of the supermarkets over the Christmas period which is good news for the sector in general. We have seen a little retraction in the SP this morning as I think the market tries ease back a little on pre release leaks excitement prior to seeing the update in the "flesh" so as to speak. I remain confident that In Dave Lewis Tesco has a shrewd leader that continues to orchestrate a rivival. As always when the time comes if the wind of fortune changes direction I can cash in and invest elsewhere if the fancy takes me. IMHO GLA
for the UK taking off some of the recent gains here. Will be interesting to see if any opportunities to add value to the Vertu portfolio emerge early in the year? We wait and see what 2018 brings. GLA
The SP certainly seems to have found a level at the moment and unless there is any shocking news to hit the sector generally within the budget I would think it may well stay there up to divi date in December in my opinion. I was hoping for a little drop back to take the opportunity of a top up but am quite happy to wait for divi at present and hope that if an opportunity for an acquisition appears on the horizon that brings value to the Vertu portfolio we may get a boost then. You never know what is going to happen in reality as so many things can impact as you rightly point out Stalin. GL ( Budget speech not too far off now)
It certainly appears to have found a level circa .45 & as you rightly point out Stalin the divi is not too far away. The mist continues to descend around Brexit and that ultimatley will play a part here as with all in the sector in the long term in my opinion.For now at least the SP seems to have found a level and I will continue to hold and like you take any opportunity to top up as and when it appears. GL
In the wake of the Dragons profit warning and the subsequent fear that as in the Guardians point of view " that traders believe Pendragons woes are part of a wider malaise in the U.K. economy", Vertu seems to be holding steady at the moment. Fingers crossed the hold continues. GLA
From what I hear there's plenty of activity regarding cost reduction in the ranks at VTU and other motor retailers. Not unusual at this time of year in the industry to be fair but there appears to be a chilling wind blowing that is galvanising them all in preparation for a long cold winter as manufacturers feel the pinch of the dropping pound which in turn continues to impact the UK car market. We may see different strategies rolled out by different retailers such as VTU or the dragon to counteract/mitigate the impact of this underlying profit "pinch". As expected the bigger you are (as with the dragon ) the bigger the "pinch" it appears. Let's hope the "pinch is not felt to much by investors who trust that the officers of the companies involved get their respective strategies right in the coming most as the winter rolls on.GLA
It appears there has been a mixed reaction to the proposed "transition" period of two years if and when it is accepted. It surely must be seen as an "olive branch" after the recent apparent stalemate in negotiations thus far but not sure it will be enough to get things moving positively. Brexit is the "elephant in the room" that we are all trying to avoid or address dependent on your stance on the subject. Definitely not helping the motor sector for sure and continued uncertainty only fuels further scepticism in my humble opinion. A transition period for existing trade deals must help but we will have to wait and see. ATB