Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Due to a history of share price drops on trading updates, I feel fortunate that I sold out before the last one but the statement today will be a huge shock to shareholders and me included.
I will keep an eye on Halfords but I doubt if I'll be tempted to buy any shares today.
From the Daily Mail
Thomas Bateman, an analyst at Berenberg, said there could be changes to the way insurers price this product.
He said: ‘On first look, premium finance, which has an APR of around 15 per cent on average, is high given the level of inherent credit risk, although potentially not too high when compared with alternative forms of finance such as credit cards.
‘However, the annual percentage rate charged by each insurer can vary hugely, with some in the 40s, and we believe it is these outliers where the FCA is focused.’
I'm expecting a reminder for my vehicle road tax next month. I'll have an option of paying either one annual payment, or for 6 months or monthly, with the last 2 options being more expensive.
Perhaps Matt Brewin could also aim his criticism the DVLA although I'm not sure the government would be happy about the loss of income. And Matt Brewin can also wave bye bye to his knighthood.
Promising news from the Fed in that they predict 3 interest cuts next year.
Dow up over 300pts and Treasury yields falling
https://www.cnbc.com/2023/12/12/stock-market-today-live-updates.html
Prior Period Adjustments to PBT in H1 FY23
The results for the 26 weeks to 30 September 2022 have been restated to reflect adjustments which decrease the stated profit before tax by £10.6m and result in certain reclassifications within the statement of financial position and statement of cash flows. The adjustments have no cash impact.
A £5.4m charge has been reflected relating to the correction of the accounting treatment of cash flow hedges under IFRS 9 and the valuation of inventory under IAS 21 at the HY23 Balance sheet date. As this adjustment fully reverses in the second half of FY23, there is no impact on FY23 reported results.
A further £5.2m increase to cost of sales and the correction to balances on the balance sheet has arisen from a) the correction of accounting for a new tyre wholesale and distribution arrangement and (b) the correction of errors identified in the goods received not invoiced (“GRNI”) reconciliation process at 30 September 2022. This adjustment has no cash effect but impacts Inventories, Trade and other receivables, and Trade and other payables within the Statement of Financial Position. There was a smaller charge in relation to this of £2.1m in the second half of FY23, and therefore the impact on FY23 results was a reduction to profit before tax of £7.3m.
We are confident these adjustments fully correct the results for the 26 weeks to 30 September 2022 and that the appropriate process and controls remediations have been put in place such that we do not expect any further adjustments going forward. We also note that these movements have no impact on our FY24 guidance or the mid-term targeted growth projections, as set out at our Capital Markets Day in April 2023.
I see The Telegraph have now changed their headline from takeover to merger. Perhaps the Halfords board will release an rns tomorrow explaining their current position of the talks with Redde Northgate but I'm not expecting any significant share price movement on the back of The Telegraph article.
I can't read the article in the Daily Telegraph because It's behind a paywall but the headline suggests Redde Northgate are offering £1.4b for Halfords. Hopefully someone on this site has access to the full article and will post further details.
https://www.telegraph.co.uk/business/2023/11/18/halfords-targeted-14bn-merger-van-hire-provider/
I've just tried to place a broadband order with Vodaphone, £25pm 2yr contract. Got half way through the website order then clicked on the next page only for a totally irellevant page to appear!
Tried again and successfully got to the very last page to click and confirm my order and the webpage failed me at the last hurdle!
I did get a phone number to contact to complete my order but as Vodaphones order website hasn't instilled me with any confidence in them to complete the deal, I won't waste any more of my time with them.
It doesn't seem that long ago when a 40ft container from China to the UK was $20k
Price has now plummeted
https://theloadstar.com/pressure-on-carriers-drives-cut-throat-freight-market-for-chinas-exports/
The half year report on 10th November caused the share price to drop initially but then recovered over the following days.
I've sold my shares today expecting a drop tomorrow but knowing my luck I've probably got it wrong!
Should be good for the business if they can't keep up with demand
https://www.dailymail.co.uk/news/article-11592247/Lemsip-shortage-hits-Britain-shoppers-say-cold-flu-medicines-shelves.html