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The last investor call I joined earlier in the year I thought was very promising. Seeing the sp back in this 320p zone, sooner or later itās going to break higher I reckon, itās been too boring of late and a race towards 400p is long overdue.
Singer has a target price of 22p apparently. Following recent contract wins, that could be just the start.
Iāve doubled up here to ensure some of these gains are tax protected. Could have a long way to go.
I believe there may have been a broker update yesterday prompting the move but I canāt say categorically as I donāt have access.
Iām loaded up significantly here in my ISA and I donāt mean one yearās ISA but multiple years. That said I thought the recent Times Sq advertising looked great and we could be weeks away from partnership with Amazon. The ānewā Board seem to have good focus bringing experience from competitors and appeal on TikTok from Gen Z should not be underestimated imo. You only have to look at Warpaint and ELF to see if this gains traction there could be fireworks ahead. Letās hope for a multibaggerā¦
Thanks Hex, noted.
DC, quite agree. Also when itās not in use there will be a non-utilisation/commitment fee and that probs all wrapped up in the same cost.
Unlikely to be drawn in full continually, banks donāt like that especially now.
Just a pure assumption but letās say Ā£325m drawn in full at base 3.5% and margin (Iām guessing) might be 200bps so 5.5% all in. That would be interest cost of 17.875m pa.
Wolf, also depends when it was negotiated - may have been 5 years ago unless you meant 18 months ago. I agree some allow it but depending on the size of the banking group some will likely now say no due to SONIA benchmark operationally.
You were lucky. My most recent this year for more than $1bn equiv wouldnāt allow it, fought like hell to keep it, unsuccessfully. Anyway a company can have many utilisations so always repaying when funds not required.
That interest cost does imply not used too significantly imo.
RCFs are usually committed facilities and unsecured - all the ones Iāve arranged over decades have been. Drawdowns in current days for 1 month, 3,6,(9),12. Used to be able to draw for 1 week for optimising cash management but banks donāt like that now in post LIBOR days.
And to add the demographic is such that many donāt have mortgages and less exposed to high energy costs etc. They are going out again, and reasonably priced fashion is one of the areas where money is being spent. Not to mention the social media side of things. Management are incredibly well incentivised now at various inflection points from 95p all the way up to 395p.
Not really new news though. We could do with a contract win announcement.
Nice gains today, letās hope itās sustained to retarget the highs, only a matter of time imo.
Perhaps weāve had a bit of an overhang here or position building since results. But good to see the momentum continuing.
Great summary, thanks for sharing 1Pencil
Autonomy, yes around midday when the news came out. But good for others to see the link.
Personally Iāll feel happier to see a break of 300p to know those highs are back in sight.
With a good tail wind there isnāt any real resistance until 150-160p back in May 2020
And there we go finally a decent breakout move. Onwards and upwards imo.