The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
It was tranche A and the covid loan… think the covid loan was paid off last September and tranche A was due end of Jan… both out of the way now…they will pay a dividend as they have declared this ambition back in may 2023 … I just don’t understand if it could be mid way through FY25 or we would have to wait till end of FY25… if nothing happens in relation to FY24 then it would be interesting to know what they are spending their surplus cash on…
The whole Moonpig valuation vs card is sketchy … all I can think of is the broker notes that seem to indicate cards online weakness vs moon but that’s really such a messy point as cards online offering is actually good now … nice platform and better prices … just wish card would do some advertising like pigeon and pig do to show it off and drive new customers there… really don’t understand why they don’t considering all the cash they have
Numbers have been good for a while now… always above expectations… think the divi will help attract attention…but I think an online market attack will get analysts talking about cars being a company see for the future whereas now it feels like the mainly high street retail play is seen as a bit of a dinosaur which is a shame as the numbers are good and debt is low ..
Being stable In the high 1200s/early 1300/ would be nice … but I’m not expecting any significant move upward until debt is significantly lower…
Anyone who buys in now with a 5 year plan is going to be quids in….
I did read in the strategy update that they were looking into marketing strategy… I would think they wanted to be in a place where their proposition is in a good place where I think it is now … also from their jan update online has seen double digit growth both in November and December which is a good sign and if growth continues up to April even if it’s single digit it will impress the market. I also recal seeing some lofty online growth targets and remember thinking the online market itself won’t be growing at that pace so they must be thinking about stealing market share from pig/pigeon.
This share is going to look so different within a year
So regarding the divi I was reading the capital market update they presented back in may 2023 where they say they would restore dividends if they could maintain a leverage of between 0.5 and 1.5 and they paid of te cbils loan and tranch a of their debt …. They achieved 0.6 leverage and already in mid of 2023 and we know the loans have been paid off in jan 2024. (Think cbils was sorted back in September 2023). So we know they can pay dividends now. How much? Well they said in the capital market update it would be a dividend cover of 2 to 3… so using 3 as a worst case that’s roughly 16m (assuming 48mn PAT) split between 346m shares so around 4.5p per share at minimum…’at a dividend cover of 2 this goes to 7p per share.
When? I don’t have any insight into this…. Any views anyone? They said no dividends as part of fy24 because of the loans but can they announce a special dividend in early fy25 (eg at their April update) using fy24 profit? Otherwise what will they do with all that profit? Paying debt isn’t the answer as they outline in the capital markets their ideal debt in ratios and absolute terms and they have it that now … they spent 15m in capex already in fy24… yeh highest in some time…. I’m hoping for a special dividend announcement early on in fy25 and that they actually do a marketing campaign to show off their website and personalisation credentials… the website is good now and it’s cheaper than Moonpig so it’s time to show that off!
I’m nervous about tomorrow …Good results might an imply taking market share from card… bad results might imply a weaker greetings card market …either way it’s not good news.
Had to re-read the last few trading statements and annual report to bring some comfort this is solid … though it added to the irritation of the current sp level… what a joke this is
I’m hoping a reinstatement of divi will shoot this up… net debt should be at its lowest for years and if we can hit the pbt of 62m then we are some way closer to 2019 levels wheee the price was 1.80…
I would hope divis restored and a price of 1.20 at least…
My local card factory in leicester is always busy… it’s small… wide range of demographics when I’m in there.
Any thoughts on the impact of low shopping footfall reported in jan and feb? I’m worried this is going to impact results… at the same time if we buck the trend and still show growth that would be an amazing statement
Im with you on the notion that some online growth would help… and am excited by the lower debt… especially the fact that dividend restraints will go. I’m just concerned about profitability and can’t see any information (unless I’ve missed it) about margin recovery … though appreciate a nice step change in revenue will help absolute profitability hit back to 2018 levels but we are talking circa 550mn I think.
I do hope the dividend is restored but at the same time perhaps they wish to utilise that cash with acquisitions to achieve their revenue ambitions.
Did see two very large trades this morning coming to a total of 1.1mn but system doesn’t say if it was a big or sell….
Either way I’m 100 percent positive that the share price will be higher then where we are now come the time leading up to results… wish I had more money to invest but its all tied up elsewhere.
Also the new financial year started for card in February… so come April at results time I would hope we know what they plan to do with the profits now that debt levels are very low