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Exactly! If NEX sell their US assets off then their just as bad as FGP. The whole attraction of NEX to me is their diversification and quality markets involved in. Sure debt is currently a bit high but its simple logic that NEX can achieve vastly superior returns to the interest on the debt! IMO I basically imagine that their debt doesnt exist and they don't own their assets. Basically like an asset light business cause their physical assets and debt are pretty closely matched. So our shareholder returns are after payment of leases.
lol its one of the reasons I love Investment trusts, you can buy at a high discount to NAV and a well managed trust will slowly reduce the discount with buybacks, enhancing shareholder returns! E.G.
Mathematically speaking, buybacks are one simple way to enhance a trust’s NAV per share. “If the NAV is £100mn and there are 100mn shares in issue the NAV is £1,” noted Mick Gilligan, head of managed portfolios at Killik & Co. “Assuming the share price is 80p (ie, a 20 per cent discount), if the board spends £8mn to buy back 10mn shares and cancels them, the NAV is now £92mn but there are only 90mm shares in issue, so the new NAV per share is 102.2p.”
Is most of the £1.5 Billion all goodwill or some of that brands et al. Bought in today but couldn't found a breakdown of what exactly all that equity relates too. Am assuming it's leftovers from previous acquisitions in US and Spain. TY
lower margin and eps, dont think results are great tbh
Chart wise sp looks overdone, but if they confirm expected organic growth in FY results then IMO the company is just getting a rerating and not rly much downside from here.
Publicis posted great guidance, rising tide lifts all boats.
Bought in today, most of the stocks in the trust are oversold, add in the discount to NAV and the great team at BG I think it's as good as many time to load up, macro be damned :)
"Expect this to go through £3 and beyond on stellar results" LMAO