Member Info for SlickMongoose

Good results today, first dividend increase in 4 years, with net debt continuing to fall.

The p/e is about 18.....

"The Options are granted subject to the rules of the Plan and based on a stretching range of EPS performance measured over the three years to 31 December 2023. 25% of the award is payable for threshold performance at a CAGR of 10%, with full vesting at a CAGR of 30%."

3-Year CAGR of 30% would be a good performance on the face of it, although they've managed over 40% over the last few years so I would think this is not going to be too tough to achieve.

Strange reaction to a great update.

So far during COVID people have moved away from supermarket own brands and towards more premuim brands. If people are stuck at home instead of being able to eat out they want to treat themselves not buy the cheapest stuff. This matches what we see in PFD's revenue updates, with branded sales growing ahead of non-branded.

As someone invested in both BOO and PFD this is all very tedious. BOO investors should grow a thicker skin. When I like a company I welcome contrary views, they help make sure I haven't missed anything and that i'm aware of potential issues that might come up in the future.

Lowball offer. Company is still very cheap compared to the sector and wider market.

I think most of us were hoping for better than "in line with expectations". Also previous trading updates (i.e. 6th November) gave us actual numbers.

Great results.

"With a growing pipeline of titles in production combined with more internal IP, development costs capitalised in the period have increased by 134% to £7.5m (2019: £3.2m)."

I think they're going to smash current 2021 forecasts.

Jazim, when calculating the p/e ratio there are more costs to come in, i.e. drilling costs, staff costs etc. In the interim results there was cost of sales of £2.2m, admin exps of £0.6m and interest charges of £0.7m so a total of £3.5m for half the year = £7m for the full year. I would expect the costs to go up a bit with more wells online.

I agree the company is extremely undervalued based on current production and oil price.

The results looked good to me, highly cash generative which will feed into growing dividends as they pay down debt. Trading at about 10x FCF by my reckoning, and outlook says trading in line so far this year which according to stockopedia implies roughly 10% revenue growth.

Anyone know what price of oil Cenkos use in their valuation?

Yes but usually we get numbers with it, they didn't give us any last month.

Last year there was an update on the 25th of Feb, I wonder if we'll get one tomorrow? If not we'll be waiting until May for some numbers.

I blame people talking about a placing. ;)

If you believe the company is undervalued (and I do) then a placing would be dilutative. It's also unneccessary, they can simply pay off the debt over the next couple of years from cash flows if they don't like the refinancing rates.

If it goes to 42p I will liquidate everything else I own to go 100% PFD. That would be about 5x FCF for a consumer defensive stock.

Looks like a continued rotation into recovery stocks (oil, banks etc) and out of COVID benificiaries like PFD. I expect this will probably go on until the economy is opened up in the late spring.

I like sharwoods too, I think they're slightly better than Pataks, expecially the tikka masala sauce.

At the risk of upsetting some people, I'm hoping that as we get to summer and the economy opens up, the market treats us like a covid stock and the share price takes a dip. That would be a great opportunity to buy more.

If it takes 10 years to get to 200p I'll be upset.

In 4 or 5 years the debt should be paid off, pension payments significantly reduced, and FCF should be over £100m consistently. At that point it should be worth around 200p.