The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
ShandyPants
I dont disagree about confusing accounts - but that is accounting for you. It gets increasingly blurred and confusing
What is undeniable though is:
- this company generated +£9m cash from its current asset portfolio
- Revenue has doubled two years on the bounce
- The venues are getting more profitable - becoming more effcient and finding innovative ways to maximise capacity which is more than offsetting wage inflations
- Escape Hunt is more mature - yet it is still showing double digit L4L growth in the most recent quarters' trading
- Corporate represents a big slug of revenues; meaning that XPF is not as reliant on Consumer spending
IMO - this SP is not sustainable. Another year of progress (12mth to March 2025) which I expect the 12mth operating cashflow to increase to +£15m, EBITDA to almost double and Operating Profit to be in the £5-£10m range - will make an mCAP of £25m looks even lighter than it does now.
I expect to see investors start returning to this stock - I like it's trajectory and would not rule out bid coming from private equity. If I was Blackrock - I would snap this up ASAP and merge it with Puttshack
I expect to see a few months of slow, steady growth to re-rate this stock.
They have a very small amount of debt I belive that is directly linked to when they acquire and fit out a new site. Not material - just sensible use of low cost finance.
They generated +£9.5m cash from operating (i predicted +£9m) and they have stated they they are self funding organic growth.
I think i there is an excellenet opportunity to grow quicker which is why I think these look dirt cheap and expect Prrivate Equity to be circling...
Brilliant update and broadly in line with expectations - the nice surprise being that Escape Hunt continues to grow stronger than i expected
£44m Revenue - TICK (In line with what i expected)
£28m GM - TICK (In line with what i expected)
Site Level EBITDA £15.3m - CLOSE(I said £17.9m)
Adj EBITDA £8m CLOSE (I said £9m)
Operating profit £1.7m (before fair value movements) VERY CLOSE (I said £2.5m)
L4L growth in 2024 - 11% Escape Hunt, 9% Boom Bar WRONG ( I undercalled this - 5% EH, 10% BB)
And nice Post period Outlook
POST PERIOD END TRADING AND OUTLOOK
" Both Escape Hunt® and Boom Battle Bar® have continued to deliver strong like for like sales growth in the first 10 weeks of 2024 (11% and 9% respectively), and the new sites and recently acquired former franchise sites are performing in line our anticipated maturity profiles. As we have come to expect, half term in February proved particularly successful for Escape Hunt, and at Boom, the operational focus over the last 12 months continues to yield the margin and customer improvements that were targeted. We remain confident about the outlook for the business and the board is confident that the results to 31 March 2024 will be in line with market expectations. "
Only on LSE
Any change would have had to been RNSd
That looks incorrect to me - still 107.8m
Looks like someone was very keen to get in early after the weekend...
18-Mar-24 08:03:08 7.4399 268,820 Buy* 7.00 7.50 20.00k
Northern - let it go fella - you clearly have a vendetta here
Let remember why many are invested here at sub 20p - to bag
Hence my comment, anyone sub 20p average, I think have a good chance of being OK
RedOliv - Yes, my post the other day confirmed I have marginally lowered my target
(14 Mar 2024 10:54)
Looks like they are trying to fill some big orders. Shore sold more than they bought again yesterday and the two biggest trades today look like buys to me
Sethi - Not sure when you invested here.
Hopefully your average is sub 20p and I think you have a good chance of of making this your lucky 7 investment
I note that Shore Capital sold 10 shares yesterday for every 1 they bought.
220k sold, 20k bought
Someone obviously wanted their shares....
I hope that some of our derampers have got some short positions :-)
What a life you lead - hanging around a shopping centre for 1 hr and posting rubbish on this forum
What will your next deramp message be?
Pathetic attempt to de-ramp
Clearly Northern or his paymasters want you shares on the cheap!
I value MMAG at much more than the £7m mCap thank you
Josey - thanks for your contributions today.
The derampers are here for a their agenda and appear to be posting under at least 3 identities - including trying to steal mine
Some private investors may get spooked by some red trades on here and a falling shareprice. I am not one of them.
The derampers have no idea whether one or more parties have 'enquired' about buying music magpie. I do not know the answer to how many / if any but (1) I would be shocked if there were not several enquires and (2) I suspect there are conversations going on or a plan to do an MBO
Finally
MMs typically drop the share price when they want to fill a big order. This would be a credible explanation for the drop. (in addition to (1) some shorters (2) one or more PIs losing patience or needing cash or (3) an II selling down)
I've been on these forum a while now. One thing I know is that when it DERAMPERS start getting more active, there is usually good news around the corner.
To the best of my knowledge, all of my predictions have been right so far with the exception of:
(1) Net Debt of £13.1m (I thought it would be worse)
(2) Kiosks - I hoped that they were more successful than what I now suspect based on the narrative in the annual results. However, I still think they are a big asset; they just need to improve their performance and proposition
My main prediction though is that there will be a change of ownership - either an acquisition by private equity, a player in an adjacent market or perhaps an MBO. I initially predicted 40-50p as the price point. I will concede that I've revised this down to 30-40p now; given the current SP range is 7-10p vs the 10-15p range previously when i set my target.
But Big Hand - my gut/ego is telling me that something isn't quite right about your most recent posts. Perhaps you are the seller as you appear to be subtley deramping IMO.
I very much doubt this is Schroders leaving the party - I suspect this is a few shorters at work based on the fact that we have ROBSWIRE active here again AND that clown TW was talking his usual tripe about MM yesterday on his website.
I have a feeling that we may get an update soon - it would not surprise me if there was a timetable which had the date of results RNS on and then a target date to update the market on the structure. It was interesting to note that there was not one mention of the 'offer period' or status of discussion in the annual results - I think this is significant.
Swanley
I'd not let the share price movement spook you. 100%, it will not spook Hanson
He may use it as an opportuity to buy more in the 7s (He already bought in the (7s and 8s)
Very rare for anyone to invest at 'The bottom'. I think you are underestimating Hanson if you think he would rethink or be concerned about his investment if it dropped 10%, 20%, 30%....
It speaks volumes when derampers sink so low as to set themselves up another Alias to appear like my own.
What a sad existance you live.
My advice to others - make your own mind up
Robswire - read my note
They did not quote the Loss in their 2021 EOY Trading update or their 2022 EOY Trading Update or their 2023 Trading update. So nothing different or devious about their most recent trading update.
The PBIT number is something that is prone to change through the audit process given the technicalities. As Josey states - the loss was not a surprise to anyone given they quoted net debt and we already knew they had a £3m Loss in H1.
Your posts are getting very boring and monotonous.
Why not add some value to the mboard - If you are so sure that this company is doomed to failure. Perhaps offer a view as to why you think it will fail in FY24?
The board have stated in the audited and regulate annual results that they will be able to remain compliant with Banking convenants even in the worst case scenarios. They have stated they have has a strong Q1 trading. They have stated that £10.8m of the £13.1m Net Debt is underpinned by contracted future revenue and assets.