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Better late than never, I agree those are excellent results.
"We look forward to updating the market further at our half year results on 17 December 2018."
Errr........
All I can say is - Ouch.
Well, I keep thinking it can't get much lower, but it does. Priced for disaster now at a PE of 5 and a yield of nearly 10%.
Yeah... I might pay 10x earnings, and even then it would be a huge risk. It's trading at closer to 50. Madness. Anyone investing here needs their head checked IMO.
Just massively overpriced. I have no idea how they convinded institutions to pay so much for the shares.
Nothing wrong with aiming high!
I think that if they could get a decent TV show or film made (that was actually good), the share would rocket.
Well we'll see. Last year their growth was helped by the major 40k release as well as several new PC games, so it's a difficult comparison to meet. However, management is investing heavily in further growth, and customer engagement has never been better.
Well, either the entire housing market is about to collapse, or this share is very undervalued.
Nice to see us closing over £40.
For goodness sake, it's a £5bn company. Nobody is ramping or deramping, and even if they were, who cares?
Sorry, AGM was Wednesday.
The AGM was on Thursday. No real trading update but the noises from management are all positive.
We're only trading at just over 20x earnings, with the most solid balance sheet in the world and a decent dividend. We all know the recent growth can't continue, but even with a more modest outlook this company still looks like a great deal.
I think as Brexit gets closer and the negotiations get more fraught we're going to see more volatility in UK housebuilders. When a single speech (without any real new content) can more shares and currency significantly, you know the markets are nervous.
Nearly bought in after the last profit warning. Glad I didn't. One to avoid I think.
Wkworld, we've all bought shares just before a drop, it just happens sometimes. As long as nothing has gone wrong with the company then just ignore it, assuming you've bought for the long term.
Frankly paying attention to daily movements is not a sensible thing to do (although it's difficult to resist).
Worrying about 1-week performance is absurd.
Unfortunately, I think we have to accept that the short sellers have done well here. They spotted a business that was reducing its prices to compete with online retailers, with an inevitable drop in profits, and made money from it. I don't think it's any more complicated than that.
However I do think they're getting greedy. This is a very crowded trade, and as long as management guidance that PETS will return to profit growth is accurate, the share price is only going back up. This is a solid, cash generative business with growing market share, debt that's well under control and falling, and an attractive, well covered dividend.
So if I was shorting, i'd be getting out now.
If PETS does return to profit growth, and the shorts don't close their positions quickly, management could make life very difficult for them with buybacks. While it wouldn't be popular with all investors, i'd be very happy with them cancelling the dividend and putting their spare cashflow into a large scale buyback program at these prices. There would be an epic short squeeze.
I seriously doubt that IFRS 16 is impacting here at all. The decline is due to poor retail sentiment & political uncertainty regarding the UK economy, combined with our falling margins over the last couple of years. Nothing we don't already know.
If we show some good numbers when we publish, it'll start turning around.
So two bits of great news today then.
Noble shareholder vote next week will be important, we could really do with the uncertainty being resolved.