Member Info for threeputt

Added this morning, the Debenham news is good for Quiz as reduces the risk of bankruptcy (at Debenhams)

Finally !!

No sign of Miss Moneypenny today Hawk, reckon she must be getting her marshmallows elsewhere ;)

I'm still wary, this is my main concern after the recent trading update, from Stockopedia:

"The potential problem, is that Quiz has a lot of exposure to Debenhams. Looking at the presentation pack from IPO, the bulk of its concessions are within Debanhams stores: 101 stores, and online sales too.

The main risk is therefore twofold - if DEB has to do a pre-pack administration (the most likely scenario, in my view), then;

Quiz faces a bad debt, which I estimate at £4-5m. I've arrived at this estimate in 2 ways which both point to a similar figure;
1) The HoF bad debt was £0.4m, on 11 concessions. There are 9 times as many DEB concessions, suggesting a £3.6m bad debt. Add a bit on for peak Xmas trading (if DEB goes bust imminently), and £4-5m makes sense.
2) Trade receivables were £5.9m at 30 Sep 2018. I reckon DEB would probably be the b"ulk of that, say two thirds. That drops out at £4-5m also.

Quiz also faces reduced future revenues (and profits), since some DEB stores would undoubtedly be handed back to landlords"

if the ebitda h2 run rate of £2.3m continues then it's less of an attraction,
Don't get me wrong, I think there is value here and they would survive without Debenhams, but that risk is the biggest concern for me at present, and I'd like to see their recovery first before adding

*bod

If they were 'sticky' they would have said so in the rns, they're never normally one to miss an opportunity to ramp it up
Who has bought them ? Well not the bid that's for sure !

£2.2m of loan notes due in June, no doubt the can will get kicked down the road again, but the premium goes up to 15%, £330k pa

and why wouldn't they, the sensible saw it coming......

There are 3 things guaranteed in this world, death, taxes, and more wsg equity raises......

nice of him to tip 2 of mine recently, ptro the other one :)

moneyam, but they are moving across to a site called shares mid feb

no they haven't but then again but I guess that's why Yu has already done its 100%, Stockopedia have made and saved me a lot of money as an added research facility

"Yu (LON:YU.)

Share price: 155p (+130%)
No. of shares: 16 million
Market cap: £25 million

Trading Update and Change of Auditor

Hot on the heels of yesterday's update from Utilitywise (LON:UTW) is an update from Yu Group.

guidance for the adjusted pre-tax loss in 2018 is unchanged at £7.35 - £7.85 million, on revenues of £80 million
contracted revenue of £85 million for 2019
net cash £14.6 million
new auditors hired after the scandal which revealed its accounts to be misleading

CEO comment

Whilst we are being more selective and prudent in relation to our growth, we are securing new business at a reasonable margin. With a strong balance sheet and a focussed and dedicated workforce, I remain confident in the underlying business....

My view

I would treat this with a lot of caution. SME energy supply is a problematic sector and we still don't have a very good picture of what happened in terms of the misstatement of this company's accounts. We do know that it was unprofitable in 2018, to an extent that completely wipes out the small profit it made in 2017.

Even if it does manage to get back on track, it going to grow at a much slower pace than was previously forecast.

There is a case to be made that this was already in the price when it was trading at a discount to net cash - that is an understandable point of view. But it is now trading at a significant premium to cash.

Checking the bulletin boards and social media, I see that the stock has caught the attention of what seems to be hundreds of people. The combination of an optimistic update and a very limited free float (less than 50% of shares) has helped to more than double the share price today.

Nice quick gains if you can get it! But I would not be hanging around for the after-party"

starting to move up now, I'm thinking it will move to 10 and then sit there in anticipation of the results so that mms can decide at that point which way it's going to move from there

Buy your own L2 you tight git, don't tell 'em Pike !

before it went into auction I was getting:
£1k 174.80
£10k 173.75

to buy, work that one out !

ignore that, just seen your reply, thanks

Eskers - source please
Thanks

Wrote this on 'the other side' in December, it would have been shouted down here.......
"Just waiting for the trading update where they tell us that the $4m tech contract has been delayed, honestly wouldn't surprise me"

the wait on the gsk outcome in the US seems never ending, do we have any clues as to when the outcome will be known ?

From his blog on Thursday 24/1:
"H & T has proved a great trade, a super statement yesterday saw the shares soar. I'm going to carry on holding as it could break up over 300 on its financials"