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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.
Waste of time. Best just to ignore them, or use the dip to buy if you feel like it.
Maybe wait until it actually is in the 90's before gloating?
Personally I know I can't predict short term price movements, good luck to those who believe they can.
So you're talking about the realised reserves from the capital restructure? That's not cash and it's misleading to describe it as such. It's just some tidying up of the acccounts and people shouldn't read too much into it.
Pernix, their plans for using cash are very clear in the RNS, they're using it to pay down debt.
Kallumama, I believe the answers are:
1. No impact
2. No impact
3. This is really just a tidying up exercise and not a big deal. The point of doing it now is so that if the board decide at some point in the future to pay a dividend, they can do so quickly without having to go through this process. It's just something to get out of the way.
Net debt down from £4m in April to £0.3m in Oct is a great result.
There was a trading update 3 weeks ago...
Yes, on every normal financial measure the company looks great, and in a defensive industry. The big issue is the pension fund and we won't really know more about that until the next triennial review.
https://www.theguardian.com/education/2020/nov/18/exodus-of-exhausted-headteachers-predicted-in-england-after-pandemic
One thing that isn't talked about much, but if anyone watched the investor presentation last week there was one comment I particularly liked where they said they have absolutely no issues recruiting teachers.
I'm sure that if you're teaching at a good, well funded school with well behaved pupils then teaching in person would be preferred, but teaching online must be a thousand times better than teaching in person at a bad or mediocre school. Particularly if you can teach from the side of a pool in the south of Spain.
There's unlikely to be a dividend until the pension deficit gets sorted out. Currently the pension fund can claim half of any dividend paid iirc.
Lowball offer. We're still very cheap compared to other gaming companies.