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Https://www.goodreturns.in/news/mega-ipo-week-hdb-financial-ipo-kalpataru-crizac-among-key-listings-and-openings-on-monday-check-1439079.html

The TFS IPO is set for next week. Will be really interesting to see what price they get it away at - and what that says for the implied valuation of the rest of the group

I thought revenues were going up - in fact I’m sure they are, as are profits (your other criticisms may be perfectly reasonable but I don’t understand this one) TIA

I do think that is unfair on the horse. Whilst speculative, Dave’s observation has particular relevance to SSPG given news reports about the involvement of Irenic capital management - the FT even led with the headline “activist investor’s play for upper crust owner sets stage for takeover”.

So whilst that type of generic, non-specific, “we might get taken over” doesn’t usually inform debate, I think in this context, Dave’s comment is reasonable. Not that my opinion counts for anything!

Https://www.edisongroup.com/edison-tv/card-factory-card-factory-executive-interview/BM-1796/

Seems positive - he seemed particularly energised about the US

DYOR

Loos like excellent news

This is what I was thinking of from the trading statement (so we are both right - their products aren’t affected, but their clients are!)

“In the near-term, we expect to gradually accelerate growth, but recognise this may be moderated by the impact of increasing tariff-related macroeconomic uncertainty.”

Is it not more likely to be a reaction to the softening of tariffs (the primary reason that it fell despite good results?)

Https://pe-insights.com/upper-crust-owner-ssp-faces-private-equity-interest-amid-activist-pressure-from-irenic/

Try this link

Https://pe-insights.com/upper-crust-owner-ssp-faces-private-equity-interest-amid-activist-pressure-irenic/

Posted this on Advf - wonder if anyone here has the answer?

Here's a question for someone clever. They acquired Garven in December for $25 million. It had a turnover equal to of 5% of CF sales (so circa £25 million) and they paid 5 x EBITDA (so 5 x $% million). Where is any of this taken into account in forecasts for 22025/2026? Edison had them at FY26 588m t/o and 74.2m profit last October - and that has not much changed since. What am I missing (or did their previous forecasts assume an acquisition of this type)?

Strong day considering we’ve gone ex-dividend

A very positive update indeed - beating their revenue estimates from September (25-26m with a turn out of 27.1m)

Very undervalued IMO - DYOR etc

Get the feeling that sentiment is turning positive on this one

Agree - things seem to be looking up here. Just need a positive trading statement and some good news about the deferred consideration.

I wish we were going back to the 80s. Seems to me we’re rapidly heading back to the 70s - the 1970s.

Cannacord Genuity have 180p as their price target (from September 2024)

My final pre-Christmas visit to Card Factory’s Kilburn store today (something I have commented on, on ADVFN). Small store and hard to imagine how it could have been much busier. People queueing, 15 deep, with the musical accompaniment of beeping tills as welcome to investors as a Christmas carol. And as I observed, a thought struck me. Kilburn is a relatively deprived, diverse area, and the demographic in the shop reflected that. But everybody there was necessarily buying something for somebody else. Whether it was a card, or a gift, or wrapping paper, the purpose of the visit was bundled up in the act of giving. Not many shops have that as their focus. In an age of cynicism and division, it was good to spend a moment reflecting on the innate kindness of people. If any business deserves a decent trading update come January, it’s ours.

And SSPG I think

Indeed - why would you spend £250,000 unless you were very confident about the future….