Member Info for Rl38

Https://www.mobicogroup.com/media/news-releases/2023/alsa-starts-bus-operations-in-porto-portugal/

Https://www.sharesmagazine.co.uk/news/shares/why-card-factory-shares-are-down-despite-a-70-jump-in-profits

"Shares in greetings card and gift seller Card Factory (CARD) dropped after the firm posted strong first-half earnings but commentators focused instead on the firm’s comment regarding the ‘challenging economic backdrop’ ahead of the key Christmas period."

I have seen 3 different articles quote ‘challenging economic backdrop’ in the headline as though it was a profit warning.

The full quotes to me sound more like they're seeking to reassure investors that they are performing well in spite of the current economic conditions:

"Our value and quality proposition and the strength of our store estate resonates with customers and positions us well to

navigate the challenging economic backdrop in the run up to the Christmas trading season."

"Against a continuing backdrop of challenging economic conditions for both business and consumers, cardfactory has

continued to demonstrate momentum in sales and a strong financial performance in the six months ended 31 July 2023

(HY24)."

There is usually a trading update in mid october

Disposal of national express coaches would certainly explain the name change to Mobico

Possibly a trading statement on the 10th of August. Nothing in the financial calendar on their website, but the 2nd Thursday of August was when they did a lot of trading statements precovid and this website has the 10th down as being a trading statement.

"Within the going concern outlook period, the only expiry of these facilities is a £400m sterling bond maturing in November 2023. In anticipation of this refinancing, the Group entered into a £400m bridge-to-bond facility in December 2022; this is for an initial period of 18 months and includes committed options to extend the maturity date until December 2025."

"As previously communicated, we have already put in place a bridge-to-bond facility in respect of the £400m bond due November this year. We expect incremental annualised interest costs from this bond refinance to be in the region of £12m."

Card Factory rolls out click-and-collect service to all its stores

https://www.retailgazette.co.uk/blog/2023/05/card-factory-click-collect/

Dean Hoyle is 25% owner of Huddersfield Town football club and he is apparently trying to buy the remaining 75% at the moment. This might explain the timing of the share sales.

https://www.examinerlive.co.uk/sport/football/news/huddersfield-town-stadium-takeover-answers-25902998

From the half year report:

"The maintenance of a conservative balance sheet has always been at the heart of the capital allocation policy. In this respect, the Board considers the Group's net debt of £150 million (pre-IFRS 16) to represent a robust position as at the half year. Further, the Group has available liquidity of around £1.7 billion, including £768 million of cash and cash equivalents (excluding £36 million GLS client cash and £21 million RMSEPP pension escrow) along with undrawn bank syndicate loan facility of £925 million. It is not expected that the facility will be drawn during the current financial year."

From the half year report:

"The maintenance of a conservative balance sheet has always been at the heart of the capital allocation policy. In this respect, the Board considers the Group's net debt of £150 million (pre-IFRS 16) to represent a robust position as at the half year. Further, the Group has available liquidity of around £??.?? ??????????????, including £768 million of cash and cash equivalents (excluding £36 million GLS client cash and £21 million RMSEPP pension escrow) along with undrawn bank syndicate loan facility of £925 million. It is not expected that the facility will be drawn during the current financial year."

In the risk management section of the annual report under "ESG compliance & climate change risks" (page 41) they claim "Electricity prices fixed for a number of years"

From the latest trading update:
"The Group expects H1 2021 revenue to be no less than £11.5 million, approximately 13% below management expectations. EBITDA is expected to be no less than £1.0 million"

Compare that to H1 2020 which had revenue of £31.9m and EBITDA £12.2m.

I'm not an expert on the company but it seems that they are having to transition away from Remote Meetings to Cloud Telephony, presumably because they have been muscled out by the likes of Zoom for remote meetings. It remains to be seen if they can deliver profits with their new strategy.

12 Aug 2021 - Interim results for the 6 months ended 30 June 2021

https://www.spglobal.com/platts/en/market-insights/latest-news/metals/060821-high-grade-iron-ore-supply-to-struggle-to-meet-demand-as-china-decarbonizes-mi

https://www.lse.co.uk/share-prices/sectors/retailers/constituents.html

All Retailers are dropping. It's Europe 3rd wave fears and threats of vaccine exports being blocked

https://www.gallifordtry.co.uk/news/news-centre/galliford-try-completes-sale-of-housebuilding-businesses/

This is why the share price dropped in December 2019, it split off its residential business. So no it's unlikely to be hitting previous highs of 800p because it is a smaller business now.