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180p I think the bid is - not been confirmed yet
We all know its not great for existing shareholders if this goes through but its not the worst outcome. The new shares could have been issued at 2p or 3p and still would have given the new shareholders lots of skin in the game. Without totally wiping us out.
For us existing holders, really we have to hope that this gives us time for a buyer to come in. Again got to think £30-40m now and the new owners do the fat cutting then they can turn it around for a big win still.
Lets us hope!
Going to have a party when this hits 100p again :)
I set a stop loss at 64p and a buy back at 50p! It hit 64p sold and bounced right back!
Waiting for the 50p now then going longggggggggggggggggg!
I disagree. We still are one of the best bands, big footprint, sites are busy - there will be competition for it. It won't get to administration nor will Luke be able to sniff us existing shareholders out on the cheap. Any buyers could let it go to administration but they run the risk of missing out on what is already a bargin.
£30m from a PE house on a wiping Debt basis is a bargin.
I bought in here knowing there were huge risks but was hoping for an unsolicited buy out. Shame we are asking for a sale but still think we will see a few good bids.
I think the problem with the results is the communication - so much going on its hard to show the true performance of the business. Helen sets it out well and there is certainly progress being made/hope for the future.
My long term target is 80p. FY23 is a write off now any unfortunately another year of progress/turnaround. FY24 has to be the year of delivery on Cashflow generation specifically to show they can clear down the debt as the Interest Rates are my biggest area of concern. The interest cover has dropped due to the higher rates (as with most other companies having to refinance).
The upside potential is huge and will come its just a case of when and what you could do with your monies elsewhere...
Don’t worry. KPMG are KPMG the bath would be cold before they finish running it…
Who knows.
We are in a far better position than before Covid where we were 1.50 a share. So who knows where it can go when wider market concerns ease and we get a dividend.
Would be great if board was bullish on the divi next year
Also the only disappointing thing about the past two days is that fact that we were starting from such a low point as the risk from the turnaround was largely gone last yea rot was obvious it just needed time to complete the turnaround with a clean set of numbers.
Let’s hang on now and enjoy it
Your not disclosed for the securitisation was nil in the prior year. If you read the rns they used some of the cash to reduce the securitisation facility. This means lower interest and therefore should increase the fs margin. So your comparisons are net no movement in cash position.
Management have the option to move back to securitisation fully funding the book which would free up cash but slightly lower margin.
FS not family service. Ducking autocorrect!
Because it’s not core debt. It’s solely linked to the debtors book so the interest is the cost of sale for the family service.
It’s the business model.
I agree Okehurst auditors are crap atm all the increase in regulations and they are not matching with increased resources so everyone is over running.
I’ve experienced this recently and know many other companies and auditors that are saying the same
Companies with clean audit reports and no adjustments taking months.
Hopefully management change brings in new auditors in the next window
This is a nonsense post. There will be a dividend they pay the two but following the year end. There’s a final dividend and a return of surplus capital. The exact statements are in las years half year results.
Odd that people would invest without doing diligence and reading the RNS….
The elephant is when are they going to take a big piece of the action. Ingenuity services a big part of revs b they have cash much more synergistic than boohoo.
Best thing for us if they make a move…. With the US guys as well could be a great place to be. Unless revs go bump and someone snaps up on the cheap haha
The company is in the middle of two pressure points. One is the exposure to oil on the inputs, so increase leads to higher input costs which can be rapid and volatile. Then the second factor is the customer power, which makes it difficult to pass on those costs in a timely manner. Hence when the oil price went insane in h1 they struggled to pass the price on and had big losses. However on h2 they’d had said to suppliers you pay it or you go without because we can’t afford a loss.
They did well in Covid initially as they saw the oil price drop to historic lows which reduced the input prices.
This share is highly commodity linked.
It was trading over 300 whilst ppi cases were ongoing.
The business is in a much stronger position now and the total exposure is around the same.
No need to be scared. If you are then sell. Simple.
It’s a good set of results.
There is a core net cash position. The only debt left is on securitisation which should be viewed against the debtor book position not cash.
Found the decision to use cash to facilitated some debt rather than using the facility but a good way really to bring down interest costs.
Once divide d returns then the company is in a far stronger position than when it was at 350p (although not need to consider dilution).
Even the risk of the claim the business would be in an even stronger position to deal with on fy23. Just may need to consider whether best to hold dividend payments until then.
She’s worth about £3m. As if she’s signed a deal with n brown worth more than PL footballers.
The old think before you speak comes to mind…
Dalesflyer- what did you expect double digit sales growth? It’s been clear all year that would never happen.
I used to work for a competitor in this industry in investor relations the biggest challenge for the board was explaining to investors and analysts that there would be no business with zero debt. And then getting them to understand that the securitisation facility is good debt. It was a real challenge that the business model was misunderstood.
The results are at the top end of what management have been communicating for the past year. They show great progress in the transformation and we’re set up well for the next 12-36 months for sure.
Trouts. Because the market doesn’t really understand the business it’s the same as studio.
N brown now has no debt in the truest sense. All the bank debt if you will is completely paid off.
The only debt left is the securitisation facility which is roughly £300m worked out as about 70% of the debtors book approx 500m. This facility just allows the business to redeploy the wc quicker. However the market still looks at this as debt when it should be viewed as a positive. As we borrow for 2% to make sales on credit at 25%.
The business model doesn’t really make money from product sales. It’s pretty much exclusively from the fs on the product sales.