Member Info for muzmanoz

Am I blind, I can't really see an oulook statement? I guess these figures include half of the Easter break, compared to last years. A few head winds, finance costs are up, minimum wage increase yet to hit financial statements, shipping costs are increasing. Stores in my area still reducing employee hours and putting staff on holiday.

At my niece's store and in other store's in her area they are reducing the number of hours per week per store by up to 30%. No idea whether this is a reflection of poor sales, minimum wage increase or just cost cutting.

Its ok though because Cavendish have a target price of £10 (eyeroll)

Did the company ever release the value of the bids that were rejected last year? Connected party trying to acquire Shanta all smells a bit.

Do you just all create accounts to post on one share or do you only have a portfolio of one share or are you paid to comment ?

Bilzo, Buglet11, Rupans, FDBC poly

All the chuckle brothers Buglet and Billzo do is post here. No where else. Filter them. Don't bother reading what they post.

Update only talks about revenue as far as I can see. In that period minimum wage has increased

Headder they did not say multiply q4 for 2023. They were asked that on a worst case scenaro and they still said they would generate cash.

•

Current trading and outlook for 2023

–

Year to date trading similar to Q4 2022, reflecting subdued demand given

challenging macro conditions

–

Expect some progress in H2, reflecting our operational and cost actions

–

Beginning of improvement in market conditions in H2 also anticipated,

albeit visibility is currently limited

–

NBR destocking not expected to abate before the end of 2023

•

Well

positioned for profitable growth in the medium term

–

Health and Protection: underlying glove demand continues to grow and

pandemic driven destocking cycle will come to an end

–

PE pre

pandemic EBITDA £96m (2019)

–

Acquired adhesives annualised EBITDA £70m+ prior to Q4 2022 before synergy

target of $25 30m (contributed £39.5m in 2022)

–

Recovery in macro market conditions expected to support earnings in CCS, AS

and PM

Cookie

Per results presentation:

c.£500m pro forma committed liquidity (incl. receivables financing) as at

end February 2023 following disposal proceeds

I rewatched the results presentation. And the newish CEO and FD seem competent. They are confident they won't lose money even in a deteriorating market and are taking further synergy and cost reduction action.

The rcf and bond mature in 2025 so they need to get debt down before then. They are making all the right noises. Really need a rebound in rubber glove volume in 2024 and other markets to pick up. Eastman was a badly timed purchase paying too much with too much debt. But what do the directors in charge at the time care as they all fled elsewhere.

It's ex dividend today. Interim dividend of 2.43p. But yes the share price is volatile here. Consensus of 2023 eps of 14.7p and dividend of 7.3p. I'm happy to hold. Hopefully they will pay some of the debt off but that, and the interest rate position, seems well managed.

How do you get a p/e ratio of 23

Stocko has 12.1 and 7.2 for year end 31/12/22 and 31/12/23 respectively

Surely the worry is revenue for 2023 expected to decline 12%

On ADVFN there has beem some discussion about the resolutions being put to the AGM in December. They include resolutions to grant more share options (4.6m shares) to management and to reprice some of the existing options more favourably (albeit in exchange for a reduction in the number of options).

Personally, I'm already infuriated by the share based compensation and thought we'd reached a peak.

REsolutions can be found here
https://investors.tremorinternational.com/static-files/5f0aaaf5-2b55-4466-9ed3-cc50c6a291ff

For what its worth Finncap estimate share based compensation to be $22.5m next year down from $50.4m this year. Still obscene.

Another set of poor results with reduced future guidance and another $11m of share based compensation.

Even finncap have reduced their target price to 1500p (which seems absurd)

Good news that the covenants have been relaxed.

In the presentation they said that that the big plus point was it gave a strong representation in the us (28%) which is a good thing now.

They also said that they are looking at divestments and are in talks about a sale of one part of the business.

The Eastman acquisition was lined up by previous management and they left before it completed. Financing of the deal does not look good in hindsight but should add value.

Isn't that money week article talking about pension fund administrators and the directors of companies?

Buglet and diandto are the same person/group

Buying bonds was brought up at the investors presentation. They said they'd looked into it but the reality was they were unlikely to be able to buy significant amounts at the current bond prices.

They have not confirmed they have breached covenants but it is incredibly bad management. It was a bit of a hospital pass from the previous management.