Boring Bernie
07 Mar 2018
Re: H1 results The headline figures were were all good, and a bit better than I expected tbh,As has always been the case with St Ives though, it's tough to work out how relevant the "underlying" numbers are. The bit which makes me a little nervous on the exceptionals front is the 15 million set aside for "Contingent consideration required to be treated as remuneration"I'm just about happy enough to hold these ( at 83p ), but, if the sp pops above 90p, then I'll likely be selling a % of my holding h
nk1999
07 Mar 2018
H1 results Good results with underlying EPS of 7p, and divi maintained.SP up ~10% already at 81.8p, but perhaps much more to come?nk
numberbiter
25 Feb 2018
JP Morgan advertisement Am I the only one to find the JP Morgan advertisement extremely irritating? I wouldn't go near this company as a matter of principle!
thirty fifty twenty
04 Jan 2018
at 82p - this is 12 month high i think this is a strong price move today (if it holds)the price at these levels would be at a 12 month high with no resistance until the 120p level - as before i am hopeful when they announce their next rationalisation it will generate shareholder value,we know SIV are rationalising their businesses,and we know CMS is looking for acquisiitonstime will tell....All IMHO, DYOR + BoLSIV is in my top5 hldg
thirty fifty twenty
30 Nov 2017
at 76p strong TU the trading update seemed strong to me.The nugget division doing well,and I thought most relevant was the statement 're improving visibility.the 2 struggling divisions still struggling but in line with expectations.No mention of any rationalization plans. Still divi and EPS forecasts should be met this year so shares appear cheap with strong chart pattern.All IMHO DYOR + BolSIV is in my top5
thirty fifty twenty
20 Nov 2017
at 74p interesting move today so the price had drifted back from 80p but did not breached the 200d support,so the trend is still up and its a very positive move today +4p in a dull market on decnt volume.i am hopeful when they announce their next rationalisation it will generate shareholder value,we know SIV are rationalising their businesses,and we know CMS is looking for acquisiitonstime will tell....All IMHO, DYOR + BoLSIV is in my top5 hldg
Boring Bernie
04 Oct 2017
Re: Results numberbiterAye, fair enough, good luck with your investments, if we all thought the same then it'd be dreadfully dull !
numberbiter
04 Oct 2017
Re: Results Evening Boring,If you go into the St Ives website and key in 'Reports' you can see the announcement of their 2017 results, They show abbreviated figures:Balance Sheet 28//717. 29/7/16Net assets 97.2. 133.6Goodwill. 108.7. 135.8Difference (11.5). (2.2)This is where I got my figures from. I agree debt appears to coming down, but there is still a long way to go. I agree I tend to recommend more 'sells' than 'buys' but I have a reasonable record in that after I recommend a 'sell' the share price tends to come down, I do sometimes recommend a 'buy'. I wrote that Paddy Power Betfair would be a strong buy is the price fell below £70. The share fell to £67, but is now up to £75.
Boring Bernie
04 Oct 2017
Re: Results NumberbiterOh, hang on, I see what you mean now, you've taken net assets and lopped off the goodwill, but left intangibles alone. So, fair enough, on that basis, you've found a combination to prove your point.I'm not knocking accountants, but I'd guess you either are a qualified accountant, or you work in that area. I know a couple of accountants pretty well, and they tend to get a bit bogged down in some areas occasionally, and can lose sight of what makes a sp move. Your worries almost certainly have some basis in fact, and may well eventually come home to roost, but, in the meantime, the company's position is, or, at least appears to those people buying and selling shares, better than it was six months ago.Anyway, it's nice to see the sp drifting back up again 
Boring Bernie
04 Oct 2017
Re: Results NumberbiterI'm not sure where you get your numbers from ...This year, net assets were 97.2 , goodwill and other intangibles were 108.7 and 42.8 respectively. So net assets excl. those are (54.3)Previous year, net assets were 133.6, goodwill and other intangibles were 135.6 and 53.2 respectively. So net assets excl those were (55.2)On that basis, there's been very little change, but it's slightly better.Feel free to show your working out, I'm always happy to hear an alternative viewpoint.Personally I'm looking at the fact that ( mostly by slashing the divi ) they've increased cash flow, reduced debt and no longer look like an utter car crash.Business has picked up a bit as well, so, what looked not long ago like a company which was going to need funds to keep it afloat, has managed to right most of it's wrongs, and may well make progress to get back to where it was a few years ago.Obviously it might not, and you're still on the "car crash" side, which is fair enough, but, looking through your posting history, you're plainly the kind of person who, on the whole, looks for companies to avoid ( or short, which is fine, nothing wrong with that ), so, by nature, you're looking for negatives rather than positives.
numberbiter
03 Oct 2017
Re: Results The latest results were hardly a turnaround. In fact, things are getting worse! In 2016, excluding intangibles, the Balance Sheet had a net deficit of £2.2.million. A year later, 2017, this net deficit had increased to £11.5 million. No wonder the price is drifting down.
Boring Bernie
03 Oct 2017
Re: Results Yea, the results basically just padded out the info in the trading statement at year end, so were pretty much as expected. If the turn round seen in H2 can be carried through into this years H1, then some of the residual nervousness left in the market may well start to fade away.Though I havn't yet, I'll still be inclined to take some profits and sell off a % if the sp manages to get close to 90p in the next few months.
nk1999
03 Oct 2017
Results My take:- Good underlying EPS 13p+- Net Debt down and very reasonable compared to EBITDA @1.6x- Encouraging statement re Outlook- N+1 Singer target price 110p seems very achievable.========== ========== ========== ========== ========== ========== ="Revenue £393.2m £367.5m +7% Adjusted* profit before tax £24.1m £30.4m -21% Adjusted* basic earnings per share 13.39p 17.61p -24% Statutory loss before tax £(44.1)m £(5.7)m - Basic loss per share (30.40)p (5.93)p - Full year dividend 1.95p 7.80p - Net debt £54.6m £80.8m * Adjusted profit before tax and Adjusted basic earnings exclude Adjusting Items. Adjusting Items comprise of redundancies, empty property and restructuring costs; impairments, gain or loss on disposal of properties; costs related to the acquisitions or setting up of new subsidiaries; impairment or amortisation charges related to goodwill tangible and intangible assets; contingent consideration required to be treated as remuneration; movements in deferred consideration and costs related to the St Ives Defined Benefits Pension Scheme. See note 3.· Further revenue growth of 13% in Strategic Marketing segment, with organic growth contributing 5%.· Revenue generated from the Group's overseas businesses increased from £53.7 million to £66.5 million, representing 17% of Group revenues (2016: 15%).· Net debt reduced by one-third to £54.6 million, representing a net debt to Adjusted EBITDA ratio of 1.6x (29 July 2016: 2.0x). Operational Highlights· Strategic Marketing now contributing 42% of Group revenue (2016: 39%) and 75% of Adjusted operating profit, with encouraging new project wins.· Significant progress in key strategic priorities of Collaboration and Internationalisation
209 clients currently working with more than one business across the Group, a 39% increase compared to the previous year.o Nine Strategic Marketing businesses serving clients on an international basis, representing over 39% of Strategic Marketing revenue (2016: 37%).· Due to continued decline, decisive action taken to improve performance of the two legacy segments - Marketing Activation and Books.Matt Armitage, Chief Executive, said:"Trading across our Strategic Marketing segment has recovered and we have been encouraged by new projects being won from existing and new clients. Our pipeline for the first half of the new financial year is very encouraging and we are excited by the opportunities that the increased collaboration between our businesses is generating.While trading conditions within our Marketing Activation segment continue to be challenging, we have taken decisive action to increase efficiency and reduce costs, and remain focused on diversifying into other sectors. Similarly, within our Books business we have taken further steps to ensure that the cost base reflects the future level of volumes we now expect.Overall, we remain confident in the long-term growth strategy currently being pursued in Strategic Marketing, and in the quality of our businesses within that segment, as illustrated by the major international clients and contracts they continue to attract. However, we recognise the need to address, decisively, the effect that legacy businesses are having on the Group's overall performance and on our ability to generate value for shareholders. This, together with further strengthening our balance sheet, remains a top priority for the Board looking forward."
onewayticket
01 Oct 2017
I do Like these ones that whilst improving yo yo back and forward creating that little bit extra for all involved.Own due diligence.
onewayticket
19 Sep 2017
Re: profit taking at 80p I must admit that I top sliced some just under 80p and it got tempting again sub 80p.Target is £1.00 and there will be a few ups and downs along the way.Nothing straight lines.It does however appear to be getting its house in order.Own due diligence
