Member Info for NickRubens

One thing I've learned over the years on the stock market is that 'Rock Solid Buys' are not always 'Rock Solid Buys'.

I'm sat on many Rock Solid Buys at half the value of what I paid years ago and even decades ago.

PETS looks good value but there is going to be repercussions of continued government tax ( or NI - same thing) attacks on businesses and individuals in a spiral of ever funding a public sector that has no limits until economic destruction is reached.

I am looking here to see if PETS can somehow grow their business while every other force is trying to take the wealth creation from them, leaving investors to pick up the tab, though the consumer might find they'll eventually get the costs passed on.

All employers have effectively been attacked financially by Labour's Tax increase. More of the same to come next year as no foundation has been fixed at all. Foundation Fixed is just typical political word salad marketing logo nonsense.

JG 68 " there was no guidance on the potential impact of this? "

No mention of impact might be because they were about to launch £250m of new borrowing , though to mostly pay past bonds maturing with a little for working capital, presumable help open a few more stores. Basically rolled over at a much higher interest rate and 'Senior' notes perhaps meaning some priority in the pecking order, should difficulty arise.

With the labour NI Tax rise next April . Sainsbury already said the hit will cost £140 million. Many other retailers are are warning of job losses and price rises.

Now we have angry farmers being hit with a Farm destroying Tax which won't go away. The UK public sector has been sustained on borrowing for 30 years and it's coming to a head now with ever increasing Tax raids if they don't shrink the public sector.

Stock Price trading higher now and Rockwood recently increasing holding. Always goes a bit quiet here when SP and company disappoints.

Everyone seems to just continually roll over debt? Does anyone in the business world intend to actually pay any back?

Anyone know what is the interest rate on this new debt offering (2031)? cheers NR

Whats perhaps interesting, is that some of the big supermarkets have already expressed concern at the NI Tax and stated the full cost of the impact on an annual basis and it's inevitability of being passed on to the customer eventually. Halfords not made a statement on the impact to itself yet. Maybe that will come in the next update?

Cheers Stormer, I hadn't realised I'd just earned the interim dividend after owning the stock for just one day.

Looks like I may have been too keen yesterday, but i've never caught a falling price exactly! Interim statement looked ok. First time I've been back holding this stock since the ASDA distribution merger was thrown out by some governmental debt that got it wrong IMO. I have been switching increasingly over the last year from prior Aldi purchases to Sainsbury on the price matches so I'm using my own experience as to how I think others will behave.

"Once the share gets back to 2.20p, then it is worth going in."

I started buying this morning. This NI is a tax on business that will eventually be passed on to the consumer. All retailers have been 'hit' by this blatant government grab to redistribute hard earned money to many utterly wasteful enterprises. The supermarkets will all eventually pass on this cost and the BofE have already confirmed this inflationary expectation for next year.

"Let's see if we can break above £3.90 and stay above it this time"

It's not a horse running that we can cheer on and encourage, if only it was! The markets (participants) are trying to weigh up what lies ahead. This Labour government is a Tax and spend entity filling their own boots, and will attack private sector businesses. Stamp duty rises came into force 31st Oct for owning additional properties. The effect of this is yet to be seen so the market is cautious. The shares look cheap but has always been cheap unlike the big main banks.

Perhaps they could adapt their business model if the BTL market slows down? Could be a buy opp, time will tell. The share buy back is supporting the price at the moment and at least they are perhaps not overpaying?

If Secure Trust gets some seriously bad press (hopefully not though), is it possible there could be a Norther Rock style run? Anyone know ow much of it's deposits are retail versus big bank loans?

I've had savings accounts here before and they do work really great but the competition has pulled me away for now on cash deposits.

The country continues it's decline for the working person. Sainsbury's £140 million tax hit should eventually be recouped via higher prices and the competition too will have to mitigate the new increased NI Tax on their businesses and employment of people.

It's amazing how blatant National Insurance is shown to have no direct relevance to the purpose of it being introduced in 1911 but instead just money being thrown into the public spending bag!

Is it Gov policy (WEF) to slowly get rid of the smaller landlords, who I presume rely on BTL loans? Own nothing and be Happy.

This mornings statement sounded a cautionary note on the stamp duty increases and what effect they may have but what else might come? Look at what they are trying to do to Farmers? Push them into economic difficulties, forcing them to sell land off, and eventually put them out of business.

Looks cheap ahead of the trading statement, but the market is clearly nervous and fearing a cautionary update (at best) is coming, and this despite the SP being supported by buy backs?

"Market cap of 1.3 billion and a PE of 3.5 is just ridiculous."

Is that a historic PE or forward? The market looks forward, so something is unnerving it and It's not vehicle finance as for some other banks. Was the BTL market impacted by the budget?

Businesses with employees being hit with NI rises (ie tax) but there will be more tax grabs in the next budget. Interest Rates on the Gilt markets have gone up. Maybe that's the problem , that will keep bank rates higher for longer or even going up? But I thought higher rates brought better margins?

Profits to miss forecast by £10-£15m. Anyone know what was forecast for this financial year? That looks like a substantial hit looking back over the last few years of pretax profits?

The market had been correcting in advance. Is that the worst of it?

"Market reaction is ridiculus on UK markets these days"

Problem is the Uk economic model is broken, Taxes on everything, return on investment easily ends in losses. Wealth creation targeted by government. National Debt at 2.7 trillion and ever increasing public sector borrowing not going down well leading to increased interest rate costs.

30 years of government mishandling.

Not sure how the company can protect the SP as the market just fears the size compensation claims bill. Not sure if the company itself knows what the final bill may look like at the moment?

The way to halt the fear that would gain my attention, would perhaps be some hefty director buys?

I have loads of shares heading for zero and have had many letters from receivers or administrators over the years telling me they are worthless etc.

I would say that companies generally list their shares, so some earlier investor(s) can exit at a premium and also then to access capital and pay themselves from that as the business doesn't generally generate any sustainable profits but always claims progress is being made and 'believe' this and that and pleased to report the company has raised x amount in a placing etc. Many companies will also run on ever increasing debt and then suddenly spring that disaster on shareholders, expecting them to pay them or go bust etc.

Owning shares are more of a liability than rewarding in my view. You also need a bit of luck without inside info.

This company was always on my watch list and it's one I never got caught up in, though I did get caught up in many others and still do!

"Trouble is that the management seem to run the company for their own gain, rather than shareholders getting a slice."

Sounds like you may be describing the pattern of the stock market in general? I've found that many (possibly most) companies list their shares to access and take money rather than give it?