Member Info for Discodave4561

Perhaps you have a point, I don't believe a word the BoD say, mmmm. You previously posted: "SPD reported Profit of 93 million for H1 17, about 15.6 eps, Another site I looked at had it at 17eps." Please could you post up the link or state which site it was you were referring to. Just curious. DD

"The Directors believe that underlying EBITDA, underlying PBT and underlying EPS provide more useful information for shareholders on the underlying performance of the business than the reported numbers and are consistent with how business performance is measured internally." Just saying. DD

Not just the inventory to watch - Apart from the obvious, also fx hedging, leases, living wage differentials, planes, related party & commercial arrangements, yachts, etc, etc. Wonder why buyback shares have not been automatically cancelled?, Wonder why they have been told not to buy above £3?. DD

Gino, will stick to underlying thanks. All the best. Dave

It's my understanding that the "Closed Period" buyback programme ends 20th July, there are about 48 million shares yet to buy so not possible even at 750k/day. Besides, the buyback "Programme" continues until 6th Sept. Don't know though when it will recommence following the closed period (1 month?). DD

As said before, will have to agree to disagree, I'm happy to go with underlying profit and you prefer to go with double that.........fair enough :). Good luck. DD

IreneKrapp Have explained why "underlying" is more accurate and more representative of their earnings, if you feel you should use the reported profit and eps to evaluate the value here then so be it......whatever floats your boat. You keep saying there is no definition for underlying profit, there is, it is defined in the accounts. Analysts cannot make it up, they take it from what SPD have reported is the underlying profit - its stated clearly in black and white what this is. Think we will just agree to disagree. DD

Hi Matt, I'm well thanks and hope you are too. Thanks for the compliment, as a comparative novice compared to yourself then it's high praise indeed and much appreciated. 485!, nice one, unfortunately mine wasn't so good @ 540. Should have put a caveat on that £7 - only if TM gets a majority!. Don't know about you but sitting on my hands at the moment and trimmed/sold some positions to have more cash just in cash. All the best. DD

"underlying profit has no definition, it's made up to suit SPD" No offence but you have it back to front! - underlying profit is more important as an indicator of earnings than reported/statutory. Reported profit includes one off gains that are not normally experienced during the period in question and thus underlying profit better reflects how the business is performing and is a more accurate figure of what the Company believes is its profit position. As you say, each to their own!. DD ps think you will find it is the norm for the reasons mentioned.

Very good update. Based on the potential impact on revenue due to the FCA proposals, back in March I forecast year end Rev to be £480m, so pleased to see it's ahead of that at £488m, so eps at least 46p IMO. With a modest PE of 15x then 690 to 700 should be fair value here, again IMO. Have noted that since the FCA announcement in Dec that the two respective quarters (or H2) since then equate to a revenue of £243m, like for like last year it was £241m. So it could be fair to assume based on H2 that rather than expecting a 14% annual decline in revenue overall (due to investor losses on leveraged products being about 30% less in the U.K.), then the FCA impact could be significantly less than I first assumed - only time will tell I suppose, but holding these until £7. DD

Yes was quoting underlying, which is the norm is it not. Whatever is your position I suppose :) DD

It reported 8.5p underlying eps for H1, where do you get 17p from? (even reported was only 15.6p). According to consensus forecasts, it's only 15.5p : http://www.digitallook.com/equity/Sports_Direct_International The 19.5 was based on a pre tax profit of £141m (as per previous post and all IMO). DD

IMO (wtfdik, DYOR, etc) Rev £3.2bn (H1 £1.6bn and usually not too much seasonality) Underlying EBITDA £285m (but who knows what impact on fx hedging, inventories, leases and wages) Pre tax £141m Underlying eps 19.5p So £3+ is a PE of 15+.....12 is pushing it IMO. DD

retail for May not looking too good. https://www.bdo.co.uk/getmedia/55d26e59-636c-4fb6-921c-8ce64a1c9b7a/BDO-High-Street-Sales-Tracker-May-2017.pdf.aspx About 50 million shares still to buyback by the end of Sept, unless it's extended. DD

Hi Matt, sorry not replied earlier, not been posting much of late. Not much happening with AHT apart from Trump not delivering on his promises weakening the share price a bit (nice bowl / cup forming?). Possibly a bit of nervous selling here today ahead of tomorrow's trading update? - time to top up!!. DD

Oh dear indeed. Once again QE you are full of hot air and posting false allegations. "I look back on my trading account and one of your outbursts was at the end of November 2015." You posted this not me, so post up what you looked back at, it's a simple request but as with all your attacks they are completely false and just lies, sad really. Now allegedly I have a bad temper and all my postings have been removed!, oh my goodness, lololololol, the lengths and excuses QE comes up with rather than simply proving the allegations that have been posted. Talk about tying yourself up in knots - just support what you have said, it's that simple, if you can't (as I know you can't), then just stop with your childish lies. Once again though, please pm me as we need to exchange details with regards to your slanderous postings (you know what I am referring to). I'm bored now with your pathetic postings, so other than pm's I have zero intention of talking to you again - your back on filter. DD

ps just for clarity, posted my views on MA taking this private at £3 (or less) before the details of the sharebuyback was released on the 28th July 2016..... just saying!, £3 was an educated guess!!.

Its for QE to support postings with facts not me, however, just to show that I have been consistent with my views here, I posted this nearly 12 months ago (July 16): "Also think at some point, despite MA stating that he "currently" has no intention of taking it private, that he will take it private when the opportunity is right for him - say £3 (or less the way it's falling) per share for the remaining 49%, £400m from his fat piggy bank and £400m by increasing leverage (still would be low against EBITDA), then he can tell the clueless MP's to go do one and stick two fingers up to the city." DD

"I look back on my trading account and one of your outbursts was at the end of November 2015." Really?, please post up proof. I have checked and did not post on SPD then, only the following:ORE, GTC, BVS, RBN, GAMA. Apologies to other posters, but if people post up false information then I am going to challenge, particularly if it's on a personal level. For the record I held these from 7th June to 27th June 2016. DD

"It would appear from recent rns that Mash has increased the stake here". No MA has not increased his stake. Have not been mentioning a takeover, just that MA will take this private, yes £3 is a guess but an educated guess. All I asked was you post up proof of your allegations against me and also other points concerning MA increasing his stake and the rubbish you posted about the takeover code. Yet all you seem to want to do is have childish and personal digs at me (very immature I must say) rather than partake in intelligent debate, says more about you than me tbh. Sounds also like you are stalking me, running around on this site (I notice you were given short shrift on the ENQ board!) and others. Now your bringing up very personal and slanderous attacks against me and my family which is completely out of order - pm me, we need to exchange details. If you cannot simply engage in debate about SPD without resorting to personal insults then, as before, you will simply go back on filter as have no wish to waste my time with playground banter. DD