Member Info for Discodave4561

JPTRADER My take on it is no (but not an accountant so DYOR etc). Any gains/losses from strategic investments (I.e. Shares etc.) are excluded from underlying EBITDA, underlying profit before tax and underlying eps. From H1 FY16 it stated: "Underlying EBITDA, underlying profit before taxation and underlying EPS exclude realised foreign exchange gains/losses in selling and administration costs, exceptional costs and the profit/loss on sale of strategic investments. Underlying EBITDA also excludes the Share Scheme charges." From H1 FY16 they sold 5m JD shares worth £9.1m, the fair value movement for all their investments for the period to 25th October 2015 was +£44.2m, this fair value movement was recognised in "other comprehensive income" in the income statement. DD

SPD sold about £3m of JD. shares last week, holding now less than 5%. DD

Marshall http://www.trgplc.com/investors/reports-and-presentations DD

Sausage fingers: So might as well wait and see if it does get to 370. DD

Good luck. Think I will keep waiting and watching, anything less than 400 is still good value IMV, so might and as well and see if it does get to 370. DD

Agree, however, BHS may provide some continued upward momentum, especially when / if MA does his normal astute dealings picking the juiciest meat from the carcass. So, Will wait and see, 370 or 425 next?. GL DD

Begining to have second thoughts about buying in here: http://www.thisismoney.co.uk/money/news/article-3555403/Panama-Papers-reveal-link-Sports-Direct-Icelanders-centre-financial-meltdown.html DD

YB34, Not all of them are cheaper on Amazon, can you post up a link?. Besides, I'm sure you could get a lot of retail items on Amazon/EBay/the local flea market a lot cheaper than most, if not all, Oxford street stores.........but Flannels is designer fashion and that's why it's part of SPD's premium lifestyle brand. DD

SPD putting the record straight and having a pop at The Guardian, good for them. DD

YorkshireBloke, Think your being a bit cheeky :), nope Balance trainers are not sold at ASDA, JD sports & others sell them but if you can get them for £15 then you should fill your boots (no pun intended) and make a fortune. Flannels is part of SPD's premium lifestyle and has been since 2012, they are definitely not stack em high and sell um cheap, they sell designer gear (as well you know if you have checked out their website). Sports Direct already have a store in Oxford Street and the Academy House purchase makes perfect sense for Flannels IMV. There were articles in Oct 2015 which mentioned a central London flagship store for Flannels sometime in 2016 (so not much of a surprise really - delivering on their plans). Been working out the potential rental yield for the property and it's about 7% (circa £1.2m pa for the 13,000ft2 Office space and c £6m for the 20,000ft2 retail space), so depending on the loan facility (now it's not MA), and future property value forecasts, this could be a no brainer. Anybody know what the interest rate is likely to be for their revolving credit facility up to and beyond £263m?. Hope it's ok with the trolls (the ex RFC losers) and the local village idiot (you know who you are, can't say what you really are though as it will grass me up!) to post on your BB. GL DD

From today's Guardian: "Analysts believe Ashley is keen to get his hands on Findel’s Express Gifts division, which has a well developed financial services operation that could provide potential synergies and new potential avenues of growth." DD

No probs Skindle, sounded completely plausible to me and was just as surprised, can't quite see why at the moment though!, have you any thoughts?. DD

Thanks Skindle. Not surprising if it was SPD selling up, they were only after Kitbag and since FDL off loaded last month no need for Mikes tank to remain parked on the FDL lawn!. Would guess they bought in the 190's (Sept 2015). DD

From the 31st Dec RNS on "Sports Direct International plc today announces that it has made a commitment that its directly employed UK employees and directly engaged casual workers will be paid above the National Minimum Wage from 1st January 2016. The cost in relation to these direct employees and casual workers and other related costs and knock on costs are likely to be circa £10m on an annualised basis." DD

£10m pa DD

MA could afford £400m-£500m from his personal wealth IMV and the rest by increasing SPD's gearing (debt) to say three times EBITDA, or partial debt and placing possibly?. It is achievable with as you say some help. DD

P.s. Should have said, when it listed the mk cap was £2.16bn, the equivalent of 3.61 today yet with double the Rev and earnings!. DD

£380m underlying EBITDA is about 38p eps, PE 15 is 585p. MA could increase gearing (£1bn) use £400m-£500m of his own and buy the 45% for 585. Obviously he would want it as cheap as possible, only he knows what he's willing to pay for the 45%. To put this current price into perspective - when it floated in 2007/8 the IPO was 300p, revenue and profits are now double what they were then!. DD

Can't blame Ashley one bit........Iain Wright MP and select committee chair is a fine one to talk: http://www.telegraph.co.uk/news/newstopics/mps-expenses/5301766/Iain-Wright-and-Tom-Watson-lavish-100000-on-shared-central-London-flat-on-MPs-expenses.html He also employs his wife, full time, for £25k-£30k pa (although MP's are allowed to employ one family member - IMV they shouldn't be allowed), nice to see He is employing her and paying at least twice the minimum wage, bless him, sorry us, good old tax payers eh!. Pot, kettle and black spring to mind. DD

Kicks up on below average volume? - Possibly shorts being covered prior to Monday's formal demotion from the FTSE 100. Will see what happens next week!. DD