Member Info for fatprofits

Doug, it's not a property company so the market takes
little to no notice of NAV as a result.

Also not helped that descendants of the founding families
have majority control - institutions do not have majority
control of Fullers. There is an unlisted share class,
you may already be aware.

You can Buy YNGN on 10 X forward earnings estimates.
I hold YNGA and YNGN (Non Voting).

Young's is the Rolls Royce of sector and not
saying that because I hold, just look at last week's
Young's results and outlook statement.

Compare that to the last Fullers update!.
Young's NV the better value ATM as there
is a huge % difference between the Young's
voting and NV shares.

And on a stonking great discount to YNGA.

YNGN currently available on approx 10 X FY current consensus.

Dividend entitlement and earnings exactly the same as
on the voting shares.

My Strong Buy is for the YNGN shares rather than YNGA.

YNGN looks more attractively priced to me and qualify for
exactly the same dividends.

* you are making an assumption that circa £300 MN on pre tax
will be the earnings trough - it may, but it may not.

Is FY 2024 going to be any easier?, not sure on that.

You can make a case it's already largely allowed for in SP..etc.

There is the outside possibility of a bid but that is highly speculative.

I like they company, buy most of my food there and hope they succeed.

A shed load of shares and resultant equity dilation
issued to fund the Ocado JV.

This was supposedly going to be a new highly profitably
revenue stream for MKS, currently contributing zero to
profitability.

To understand some of the recent SP performance,
besides wider macro concerns, the JV is a good place
to start.

Just calculate the extra shares issued - ouch!.

Could this be where the SP is heading...?

No it is not absurd as fleecy has been found of posting
on Ryanair previously.

I addressed the post to him/her, but thanks for the input.

They made Euro 1.37 BN on pre tax in H1.
So you are laughing at facts.

Ryanair with minimal debt and no massive pension
scheme to fund!.

Disappointing to see

more profitable, more accurately far more profitable than BT
on today's reported H1 results v BT H1 numbers.

heading for some golden land where huge profitability
awaits is likely to be la la land in my view.

Neither HMG or the regulator is likely to allow this.

And that is the problem when investing in this company -
BT is likely to be hobbled by regulation.

The longer term winner is likely to be consumers and not
BT share holders.

You have sung the same tune for a long time now
while the SP has continued downwards.

Https://www.ispreview.co.uk/index.php/2022/08/starlink-cuts-uk-ultrafast-leo-satellite-home-broadband-prices.html

Net debt servicing becomes more onerous with longer
term rising rates.

Arguably a longer term threat from Starlink.

The statement speaks for itself but if it needs reiteration..

Net Debt now over £19bn

Free Cash flow down to £0.01 BN, with some
vague expectation that it improves.

UK headed for a long recession with the consumer
under pressure to save money , which arguably does not bode
well for BT.

BT appears to be running fast and still going backwards,
outlook appears shocking to me.

I don't mind going against either consensus or poor sentiment
but do not see a buy case for BT.

Outlook dire - luck to holders.

Does anyone have a full year EPS estimates for WTB
as the H1 clearly well ahead of consensus?.

Thanks.

compared to FY 2019, primarily caused by the
equity raise share dilution.

Take a look at pre COVID EPS!.

at I would guess a fairly chunky loss,
does this bode well..?

An activist fund is one which supposedly sees value
when other may not..

And now, if reports are accurate, they have taken a large dump.

at yesterday's Capital Markets Day presentation

Medium term growth rate outlook raised.