Member Info for Mulder

This has historically traded on a P/E around 15. Management feel profits will stabilise and return to growth this year. Revenue was actually up. I don't see their base of customers suddenly ditching PETS. Even in a bear case scenario if EPS dropped by a further 10% the shares are still trading now at just 10x earnings. Dividend almost twice covered by earnings.

Useless buggers. Trading at less than 9x earnings now. Yielding 6.3%

I make full year adjusted EPS ~ 0.4p

Sunday papers.

25-May-18 11:01:29 3.20 1,065,490Buy* 3.003.3034.10kO

During a speech at the Minerals Council of South Africa�s (formerly Chamber of Mines) annual general meeting on May 23, Mantashe said that he did not favour putting mines on care and maintenance as it sterilised resources and often amounted to �high grading�. �The high number of mines and shafts under care and maintenance contribute heavily to the massive decline in both production and employment,� Mantashe said. �In this regard, we will meet with companies that are culprits of these practices,� he said, adding that he intended to robustly discuss the �use it or lose it� principle. �Our mineral wealth must be exploited, not left unused, if we are to generate economic growth and impact on the development of society. It is in this context that we wish to invite mining companies that are involved in this practice to come and make presentations to the DMR on why this situation pertains,� he said. http://www.miningmx.com/news/gold/33012-pan-african-meet-mantashe-ante-upped-use-lose/

This company is semi-nationalised now. The P/E is actually a lot higher closer to 20 after the profit share and handing over of the profits to the Government of Egypt.

Usual rubbish finish to the week. Mantashe threatening to seize Evander mine. Use it or lose it approach. SA going to the dogs.

Was in CEY a while back. Is it true that the Egypt Government takes back 40-50% of the profits?!

Possible support at 202p-203p it seems. Let's see if it holds.

Granted a lot of intangibles/goodwill on the accounts - like other recently floated companies like CARD - but trading at a 30% discount to its book value. The key metric of P/E 9.6 is very low now and one would think spending on pets will hold up even in a recession. Revenue was up strongly last year - it is all about the merchandise margins which need to be maintained now and not dropped further.

Some of the drop will be due to the FTSE re-shuffle end of this month and looks like the shorters banked on PETS being demoted to the FTSESmallCaps. This looks possible as does Halfords. Trading at <10x earnings now. Yield 5.8% covered 1.8x by earnings. One would hope margins do not fall any further.

I can only assume production guidance will not be affected by this otherwise he is bound by regulations to inform us via RNS. As StoneFold says such actions and any strikes will only be shooting themselves in the foot and could result in permanent loss of employment. SA as a country is not coming across at all well and looks to be going backwards if anything.

Do you have contacts there?

Send an email to this address and ask to speak to Cobus. execpa@paf.co.za

I suggest shorters be very wary. Very.

Looks like 4 reasonably large buys after hours.

I always thought a P/E of 4 was obscene.

We are making significant progress with our pipeline with a broad series of news flow anticipated for the rest of 2018, including our novel partnered projects (Ablynx ALX?-0171), generic projects, late stage nebulised studies (VR647 Phase II, VR475 Phase III) and further Vectura enhanced programmes." Who is going today?

Low & Bonar PLC LWB Peel Hunt Buy 0.00 54.00 80.00 - Reiterates