Member Info for schwee

Perhaps that is because the BoD feel they can get a better return from deploying the cash in expanding the business.

Liquidation by Chinese torture. Better policy would be to throw in the towel. But then there would be no undeserved management fees.

Results were middling. But good cash flow business.

More or less as expected. But v good news on reduced future pension contributions. It would be helpful to Currys and other retailers if Rachel from Accounts put a stop to VAT free low value imports especially from China.

I certainly haven’t made up the £86m. It is in plain sight in the statutory accounts. The £70m is a figure Smith’s likes to quote as it ignores the impacts of IFRS 16.

£86m is before tax. In there latest update the fantasy profit of £110m is before tax. Am just comparing apples with apples, though of course Smiths use numbers to confuse. They are far from unique in trying to disseminate.

Non underlying (in reality business as usual) were in fact £86m in H1. A lot more to come in H2.

Is 5 p.m today

Greggs dodged a bullet there.

Where is the divi?

But the £55m is probably a lot more now, as only £10m received up front on the sale as opposed to the £36m disclosed at the interims. And with a share of the £30m US shambles, the modest profit would undoubtedly still have been a loss. And that is the problem. Nobody has a clue about Smiths numbers, and most critically the management doesn’t.

And of course Smiths is a loss maker. £42m in the first half alone.

Quite. £86m of non underlying items in the first half alone.

The £110m is before all the bad stuff which totalled £86m just in the first half alone. A bigger warning of aggressive accounting policies it would be difficult to find.

That is £110m before accounting for the bad stuff which in reality is business as usual. Interims reported a loss of £42m, so not too rosy.

Coz published NAV is a guesstimated opinion. And the guesstimates for UKW have been travelling remorselessly South for sometime now. So the SP will reflect that direction of travel by applying a discount to NAV.

Openheimer,

The £100m is before accounting for the bad stuff. In fact the interims showed a loss before tax of £42m. Avoid this one like the plague, unless Ms Swann makes a comeback!

Another shambles disclosed today. This after the shambles of selling the high street business. The CEO has to go.

Other expenses double from 400k to 900K approx without a word of explanation.

Can someone explain why for the second year running the finance charges in the income statement and the cash flow are miles apart.