Member Info for Ejackson

Everyone is coming up with plausible reasons but sadly all we can do is sit tight and wait and see.
A rather tortuous few days ahead.

By way of balance, it may simply be to accommodate and provide a narrative on the impact of Black Friday as they did last year.
If it were more sinister, then I believe the SP would have fallen a lot further.

If that is correct Skindle, I really hope we have some positive news to move us away from the current SP otherwise I suspect SPD will be keen to have another go at us.

Brexit will have acted as a drag, Hamodeh82, which imho make the figures even more impressive.
I appreciate the debt in the hands of Gordon Watt is meaningful but in the context of todays results, this should start to come down in the medium term.
I welcome todays rise but cant help but feel somewhat underwhelmed by the closing price. I would like to believe there will be some RNS's to follow announcing various QM contract wins which should propel us forward.
I retain a healthy exposure to PIP so am happy to hold rather than adding further for the moment.

A ridiculous bid/ offer spread....

Agreed Brightonsparky.
Given how the SP has previously risen to almost double these levels on far lesser and more disappointing results, I am surprised it hasn't responded more positively and spiked a lot higher. We still have the remainder of the day for the market to wake up to the results and with such a low market cap, and ultra low PE ratio, it won't take much buying to perk the SP up.

A really excellent set of results together with a very optimistic outlook for the future.
We have been patient for this moment and finally we appear to be well set for the future. Lets see how the market responds as at these levels, PIP looks a snip.

You have called it well before 1GW and I hope you are correct again.
Next months update will clearly be key to what happens next. My hope is that all the IT /marketing tools they have invested in are bearing fruit. A positive update on the PPI would be a huge help, as currently, I am frustrated by the positive movement in SPD and NBrown's respective share prices whilst we remain anchored to c.£2.

What really annoys me about our SP is how SPD's is performing at the moment.
For what seemed like it was a case of 'can it get any worse' only a few weeks ago following all the issues surrounding their reporting etc and they are currently trading approximately 40% higher.
The irony and injustice of it is beyond comprehension.

Another element that I draw comfort from is how the Board have bought shares in the open market at these sort of levels. PPI aside, they are the ones looking at the data on a daily basis so whilst we speculate, they have the knowledge to make a far more informed investment.

It is difficult to disagree with your sentiment Skindle although NBrown's SP perked up after a mixed bag of numbers.
The PPI element is annoying although with all the media coverage reporting the last minute surge in claims, not unexpected. The one saving grace is that the deadline has now passed so no more nasty surprises.
I remain a believer as I think the Board are continuing with all their good work which should be reflected in the half year reporting in November. Don't discount Education being sold off either which could pay down debt or be put to good use as working capital to further enhance our offering. As much as I loathe SPD being on the share register, the one thing they have pushed for is the sale of Education.
In the meantime, as to why the SP remains rooted to this level continues to be a mystery. Roll on November and hopefully the market will not be able to do anything else other than respond positively to some good numbers. Fingers and toes firmly crossed.

Is anyone up to speed with Sock Market rules to know when SPD can bid again? I am not suggesting they will, but just wondered what the timelines are.
Thanks in advance.

Echoing 46Gillingham's last post, the future success of the company could not be more straight forward.
MSAR has to monetised and swiftly.
The warm blanket of all the MOU's have got the Board so far together with the funding hey needed to remain in business, however, from here onwards, deals to sell our product is all that matters.....Now get on with it.

Thank you for sharing this 1GW.
You have made some shrewd decisions to top slice and buy back in, so was interested to see how you viewed it.

Not unexpected and glad it's now in the open.
NBrown slumped by 5% when they announced their position on this and have recovered since, so I am hoping for a similar outcome here.
It has been a significant amount of time since we hit a bump in the road, notwithstanding the SPD bid, so as things stand, the fundamentals remain in place. Columbo was on the money with the need to provide a positive TU in the coming months and should this be delivered, I believe we will see a steady recovery in the SP.
Interested to know if you are buying back in 1GW having top sliced at £2.50?

More about not ignoring what is going on Skindle. There has been a huge last minute influx of people registering to claim PPI and whilst the below, which is lifted from the Final Results in June, carries some reassurance, I would want to see an RNS confirming if we have it fully ring-fenced or if we need to make further provisions. This could be why our SP is where it is and the market is nervous of news. One positive is that we haven't gone the same way as NBrown today in expectation of a similar announcement. Indeed we have actually gone blue for the first time in a while.
Improved free cash flow generation, notably working capital efficiencies within Studio, contributed to a reduction in core net debt* of £16.4m to £57.4m and cash from operating activities of £22.4m, notwithstanding a planned c.£12m outflow in respect of the legacy customer refund programme. That programme has now been substantially completed, with a final reconciliation of the provision included within individually significant items.

https://www.thebusinessdesk.com/northwest/news/2047947-online-retail-group-increases-provision-for-ppi-claims
NBrown have come clean. I trust we are not in the same position but an RNS clarifying the position would be welcomed.

Well, patience is finally being rewarded albeit we have had to wait quite some time.
Any more contracts in the pipeline, Pipehawk....?
It would have been kind of them to have updated us on the Sales Teams's activity over recent months and whether we are working on / close to signing further contracts.
Welcome news none the less.

Below is copied from the Annual results, 5th June.
I suspect SPD has sought to re-approach us and try to use their shareholding to effectively force Studio into becoming an outlet for the SPD brands. Not necessarily a bad thing, however, I would imagine that Philip Maudsley will do his best to ensure the correct product mix is in place and doesn't detract from what Studio has been doing particularly well to date.
In the meantime, back to Columbo's assessment. Our SP will only be driven by a good set of numbers in the all important Christmas trading season.

Potential collaboration with Sports Direct
We announced in March 2018 that we were exploring possibilities for commercial supply arrangements between Studio and our largest shareholder, Sports Direct International plc. The results of the pilot-scale trials undertaken in FY19 have not yet indicated that a fuller roll-out of licenced menswear will be beneficial. However, we have continued to explore the potential for access to other Sports Direct owned brands in future seasons, as well as ways in which Sports Direct can help to improve our own supply chains. Progress on these initiatives was put on hold during the recent mandatory bid process, but we anticipate resuming discussions in the near future.

Thanks Skindle.
I read up on a similar but more detailed article produced by Salaughter & May and concluded that at this moment in time it is more a regulatory issue that Studio has to be compliant with. That is not to say things could change....