RE: Share Price4 Jul 2016 15:44
I can not tell you why the SP has lost so much value Anybody apart from maybe people being nervous about the Brexit. These were one of my best shares last year and i sold for a nice profit. After reading their preliminary results on the 29th of June i am back in again, sales are up 17% but the bit i really liked was this.
In connected retailing, following the success of the trial stores we have agreed to rollout up to 500 stores with Sprint in the US, including c.150 in the year ahead. Separately we continue to expand on our consultancy agreement with Sprint and deliver significant benefits to both parties, including operating 27 of Sprint's own stores in Miami and Dallas. The joint venture continues to go from strength to strength and we expect it to contribute $40m-$50m to the Group's annual EBIT by 2019/20.
So not only have we got the UK and EU market we are also expanding into the US
Also today the broker HSBC has given a recommendation of buy with a target price of £4.00
So i think this is a good medium to long term investment :-)