Member Info for PippiLongStockin

Great update I thought.

Deleveraging is transferring value to equity holders.

Underlying depletions must have been growth given destocking at customers. On plan, keep going. Growing business with uk retailers. Increased A&P and R&D and still generating plenty cash. Operating leverage from organic growth and bringing Earol in house production. Upside to come but more patience required… but this was only 30p not that long ago

The company usually ramps and chose not to in the trading update.

whilst one could be suspicious of this, maybe there are some gremlins coming in the september update.

I take the other view, which is they are learning that they have been talking too bullish about their prospects which hasn't worked, and they are hopefully mellowing out their narrative.... let the numbers do the talking.

either that or volume led growth = margins down and still no profit to show for themseves

Yes there’s a certain price sensitivity to sharing.

If they are about to go above trading expectations then I’m sure they will let us know

Trading might be quite strong, with the euros and all that. Might be possible just with volume growth & full year of bars open. I think they will hesitate to put prices up. What I suspect is at some point they will want to add another brand / acquisition : other ways to leverage their strength with landlords and achieve growth… just a thought —- would then spread the central costs further… but would need capital to do it.

Firstly they need to demonstrate continued top line momentum. Tick that off I expect. Then they need to demonstrate strong cash generation, they did last time. There’s a lot of hokey pokey with EBITDA but positive cash is validation. Then what they lack is profit. If inflation is easing that might show through but what about wages. But overall they have really high central costs and leading costs after EBITDA… if the top line is strong enough then profit could move up… that will move the price for sure. Only thing is they don’t like to talk about profit … because they don’t usually make any

Concentrated customer risk plays out.

But what the heck happened to Lloyds? Cost cutting or don’t like the tech? Didn’t do their due diligence? Change of management ? After investing you’d think they would have stuck with it

No floor is 2.5p

Who’s got a spare couch?

Lots of dossers in town today.

Or is that t…….s?

After losing a stack of money … it’s nice to make a stack back

So des ne!

Watashi tachi wa tsuki ni ikiba masu!!!

Because KM knows he needs to have something delivered for shareholders on Amapa.

I'm thinking we might be close for something.

Kirian will pop back up after a positive RNS

Https://www.theguardian.com/society/article/2024/jun/02/drug-pembrolizumab-melts-away-tumours-could-replace-surgery-for-bowel-cancer-say-doctors?CMP=Share_iOSApp_Other

That would take it to 84p. Maybe ambitious

Does this mean Novartis working behind the scenes?

Also we know response differs on FAP levels.

That was a bit of a fail Thorm

Just let the science do the talking

I’ve not had any msg about open offer participation. Trying to catch up here —- do we get to buy in?

You’re not including the bigger groups; M&B, Whitbread, JDW, youngs, fullers

Best play probably one of these because of already achieving profit

Yeah they could lean in here one thinks

They’re certainly trying to box them into the corner.

Hopefully they have options and can stick two fingers up