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Ash4781

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Everything posted by Ash4781

  1. Odd timing with Easter around the corner. £150mm was that the cash call ? The balance sheet looks weak assets are mostly goodwill and intangibles tbh. From what I can see on the cashflow statement I don’t think they could have paid that £30mn tax bill. They seemed to have paid out a dividend too. Looks dodgy
  2. DFS Plc half year results are out http://www.dfscorporate.co.uk/investors At first glance underlying profit looks weak. I’ve not looked at the details yet but they still are over target on the gearing ratio.
  3. “Welcome to Devon’s most exciting competition. We have decided to sell our house slightly differently as we have struggled to find a buyer through the normal channels which in todays times seem to be slightly archaic.” haha (belly laughs)
  4. https://beta.companieshouse.gov.uk/company/05896509/filing-history I think that’s them. What I find a bit odd is in the accounts it says they were increasing store count but turnover then falls. I have not looked at the margin performance. Never heard of them ( hence why they spent more on advertising) but I think there’s one in my town. Now they are doing a CVA ? From your link. Time to dig out that dead malls link a poster put up recently. “The loss of anchor tenants on high streets and in smaller shopping centres has had a downward spiralling effect on stores such as Select, culminating in a reduction of footfall and therefore custom," he said.”
  5. Have they sold up ? Recent Kent advertised house prices have to be seen to be believed. Edit: should add I don’t know how much interest there is at these prices. Round my way lots of the houses with for sale signs have had them for about a year! (They May have actually been repriced upwards such is the madness)
  6. https://news.sky.com/story/house-of-fraser-lenders-call-ey-for-help-amid-high-street-crisis-11301591 “ Lenders to House of Fraser (HoF), the embattled department store chain, have called in advisers amid growing doubts about its ability to see out the escalating crisis on Britain's high streets. ...... Just over 10% of HoF is owned by Sports Direct International, the UK-based retailer controlled by Mike Ashley, the owner of Newcastle United FC. Mr Ashley has long been rumoured to be keen to pursue a merger of HoF and Debenhams, in which he holds an even larger minority stake. The precise financial position of HoF is unclear. “ House of Fraser in the news again. Oddly I didn’t know Ashley had a stake in them. Merging them ? Take Lakeside shopping centre it’s got House of Fraser at one end and Debenhams at the other end.
  7. https://www.local.gov.uk/about/news/rise-online-shopping-clogging-our-roads-lgvs “ Rise in online shopping clogging up our roads with LGVs England’s love for online shopping is leading to increased congestion and wear and tear of our roads that must be matched by long-term funding for councils to bring our roads up to scratch, the Local Government Association reveals today.” Hmm. Is this a reasonable argument? I’d be focused more on house prices, commuting and locations of new builds.
  8. “"We serve 3.8 million customers a day, and 90% of the population come to us at least once a year," said Mr Pomroy.” I probably pop in once a year, collect my ‘meal’ in a paper bag and think this is expensive for what it is! Their coffee used to be undrinkable - I assume they fixed that ?
  9. I meant to look at their accounts because a comment I saw said they sourced most of their products from China. Then I thought I wonder if the Chinese sellers retailing through the platforms ( eBay, Amazon) were grabbing sales with their sometimes questionable VAT accounting practices.
  10. Showing as £286mm market capitalisation. Wonder if Ashley will reveal his plans soon ?
  11. Going through the report the B&Q business looks not great tbh. Digital sales at 4%. Maybe I misread that but not surprising if you go in the stores or use their website . There is a note about sales ‘transference’ due to B&Q store closures. I’m not sure there is much discussion on sales transferring to Screwfix (eg. A trade versus non trade analysis)? I guess certain things like Kitchens and bathroom design will remain but a tad painful to wander around a giant B&Q shed looking for a few bolts!
  12. The Carpet Right shareholder loan update today has interesting words re store closures - essentially closing stores will have little effect on customer experience. I think that captures the mood quite well. Their empty stores are not necessarily all due to the internet as other businesses but it is the same result.
  13. Carpetright in for a shareholder loan. They also outline the plan to get out of the mess that they are in !
  14. I got a usb car cigarette adapter in there at 10% off as I needed it on the day. £12 in Wilko’s, £20 in Smiths (branded), £15 in Maplin (Garmin). Nothing in Poundland. As I usually find Argos lists lots of items but of course there is no stock of the Garmin branded in the actual store for 5 days! Tbh the item would have been cheaper online! I’ve had one melt so I thought I’d get one specified or atleast branded it being power related !
  15. A bit of a curve ball at Hammerson Plc. I don’t own shares in them. What’s the plan - get Hammerson , stop the Intu deal, pick them off later. The initial price does seem disruptive. “French mall operator Klépierre has approached Hammerson with a £4.9bn bid proposal in an attempt to break up the UK property firm’s agreed acquisition of Intu. Hammerson shares jumped 24% to 542.4p on news of the proposal, which values the business at 615p a share. Klépierre is trying to thwart Hammerson’s £3.4bn tie-up with Intu that would create Britain’s biggest property company worth £21bn. The deal, announced in December, would bring together Hammerson’s Bullring shopping centre in Birmingham and Brent Cross in London with Intu’s Trafford centre in Manchester. “ https://www.theguardian.com/business/2018/mar/19/french-firm-makes-49bn-offer-to-hammerson-over-intu-acquisition
  16. 30% fall is optimistic What’s the time frame - eg. say London falls 30% in a year. It’s much too fast for say new BTL to get out of the market through normal legal processes. Who would panic first - lenders or the BTL ?
  17. It looks like they are preparing to go back into slumber mode. More market interventions please !
  18. It looks like more troubles with an ‘unexpected’ tax bill. http://www.bbc.co.uk/news/business-43398800
  19. I wonder how much of the recent mortgage lending in London was by the Nationwide building society?
  20. http://www.bbc.co.uk/news/business-43371491 “The owner of High Street food chains Cafe Rouge and Bella Italia has posted a sharp increase in losses, as the UK restaurant sector comes under pressure. Casual Dining Group said losses in the year to May 2017 increased 18% to £60m.” I’ll have to check out the £5 pizza at Bella Italia. Losses ballooning at Casual Dining Group. Actually I’m not sure the reporting period is right as article says May 2017 and things have markedly worsened in the sector since then!
  21. http://www.bbc.co.uk/news/business-43363543 “ A group of restaurant bosses is warning the government it must act to avoid "damaging closures and job losses". In a letter to Chancellor Philip Hammond, they have asked for "root and branch" reform of business rates. The chief executive of Bills and the chairman of pub and restaurant chain Mitchells and Butlers are among the 15 who signed the letter.” Aww yes Mitchell and Butlers - from memory their net debt was around £1.7bn. I can’t remember what their cash flow statement looked like.
  22. “...But operating profit before exceptional items at the supermarket sank 32% to £172m, held back largely by lower margins as it tried not to pass on all cost price inflation to customers and invested in improving stores” Hmm so Waitrose can not pass all their input cost inflation onwards. Considering their customer base this is significant.
  23. Don’t Countrywide still partly own Rightmove ?
  24. “According to proposals seen by Retail Week, New Look’s plan will involve reducing rent at 20 per cent, 40 per cent and 60 per cent depending on their respective performance, with only the best 150 of the retailer’s 600 stores remaining unaffected.” Cheers. Good grief that’s bad!
  25. I thought a large proportion of BTL was not through limited company structure so the lender can go after the equity in the principal residence ? My thinking then if lenders in practice can’t get at the equity the BTL mortgage there is still a problem because BTL mortgage finance Needs repricing ?
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