Member Info for Rumpel

The SP drop below £5 has caused me to think about adding some more too – would have been a straightforward decision if I was simply buying back in having sold earlier in the year at £7! Unfortunately, I’ve still not got a crystal ball.

The current PE following the SP drop sits better so in my view it’s now how those operational efficiencies from the new premises come through set against the negative of the higher interest costs (see the IR sensitivity analysis in the 2022 AR – p147). May be wishful thinking on my part but I’d like to think with their experience, they will be able to maintain overall margins on higher raw material costs albeit possibly helped by a move to more premium, higher margin products in general.

We should get an insight on all that with the end of year trading update in about a month – hopefully will be a catalyst for a meaningful SP upwards movement so will need to make my mind up on adding before then.

Not seen anything specific to explain the drop in the SP - jitters about price of oranges with adverse weather? Perhaps some downside from China slowdown affecting future growth (albeit not a large part of the business as yet)?

Looking that way based on current direction of the SP!

I’d be looking at switching a GIA so no need to worry on the ISA point, thank you. Small print looks ok to me. The 1% incentive will still leave me in profit even with their platform fee given there is not a long tie in so looks like it will be a worthwhile switch for me. The downside appears to be if I wish to trade whilst the switch happens but as I don’t trade often at the moment, I should be ok (famous last words). Will need to keep an eye out to see if share accounts become like the battle between banks for current accounts!

Hope this link works…

https://www.barclays.co.uk/content/dam/documents/smart-investor/smart-investor-transfer-in-cashback-tc.pdf

Whilst not directly a Barclays share topic, I see they are offering up to 1% incentive to switch investments to them and payment is made within 60 days so not a long time before I could switch again (I am a shareholder so know grabbing 1% and moving on may not be the best for our collective returns!) It caught my eye as I need to review my provider anyway but caused me to wonder if these switch incentives are sometimes about (whether Barclays or others). Anyone know?

“you should remind your friend that outside of an ISA her divi income would be taxable, depending on her circumstances but likely to be the ( total of divis -£1000) so on your figures £3843 X 20%“.

Sound point about the ISA but I believe dividends are taxed at a lower rate than your marginal tax rate.

Took a few days for the uplift in the sp! Had a look through the results, couldn’t see anything untoward (wasn’t expecting to, I add).

Yes, I see them as quite conservative financially and that they look to exceed expectations. MD has been with the company a long time (and has got fair number of shares) and led its growth and diversification into more niche areas but keeping true to their strategy. Wouldn’t be surprised if there was a jump when results announced later this month even with the trading update from last year.

Hi Scooter. You’re not alone. Bought some at the end of Aug. Thought I may make a quick turn on them but still holding them. Not sure whether they will become a long term hold now. Nice trading update and like the business model so not unhappy to take my time with the shares.