Dawson Intl. Share Discussion Threads

[cg1953] 03/8/2007 11:44

hope a takeover bid is forthcoming above the current price of 4.5pence !!!!
all the usual caveats as before, but with interims now due on the 22nd perhaps we can look forward to a swifter decision/conclusion.
the lack of any director buying since the AGM, cannot augur well in terms of a generous offer ever being made; besides i should imagine 'directors service contracts' and 'employees welfare' will have priority in terms of total consideration.
wonder if a 'reverse takeover' may not be in our better interest.then at least we would have a london listed 'china play' ?
Otherwise, imho, if an offer is ever made, it will be a 'rescue offer' in all but name !!!

[cg1953] 01/8/2007 04:37

just noticed that W.H.Ireland rated dwsn a 'speculative buy' on june 27th.

[pal999] 19/6/2007 22:22

Direct from a reputable source within T&D, they have notified 35 redundancies today with more possibly to come! They have also decided that they will be stopping their production of their lambswool range as there is no profit margin with that item. T&D are presently in serious financial difficulties and the immediate future is looking bleak. With regard to the redundancies, T&D made a statutory notification to the releveant Government department on 13/06/07 with the redundancy date being 13/07/07, so feel free to check this out yourself! We as shareholders are all in the dark, yes the dead wood needs elimated and the company needs to exercise a strategy for the future but be reminded that the current management team are very young sucklings to the industry as a whole. The MD, previously a Crabtree Evelyn mananger and the financial director 6 months in the door from an bankrupt envelope company! Nuovo Sales Director from Cariaggi, where the staff are happy to see the back of her! Where is the overall experience of the cashmere industry? Chairman Hartley is somewhat absent ... that will be most likely due to his drop in salary of approx £300k this year - and why have they now have both Hartley and a relativley newly appointed Andy Bartness (CEO) at the top of the tree (it's vey top heavy) why both??? Confidence in the directors anyone?? For the past many years the directors come and alas so they go - but when they go they go with massive packages - theres your values explained. and hence the continual downward spiral of a good company.

[arthur_lame_stocks] 13/6/2007 17:54

cg1953

Sorry for the delay in replying, i've been busy.

No i'm not really interested at the moment, i'd like to wait and see how things go, they don't expect to make a profit this year and the outlook for retail sales is still poor.

GPG did well to offload Dorma onto DWSN, it's done nothing but lose money since.

[brixlaven] 13/6/2007 11:41

PAL999.Ref your hot off the press post.On such news would you not expect some share price movement if it was indeed true.

[tunturiflyer] 12/6/2007 21:05

Don't see anything about redundancies on the web - is there a link? Also it might be good news, that they are slimming down, or just a poor de-ramp.

Dawson's not up the creek


JANE BRADLEY
BUSINESS REPORTER ([e-mail])
SCOTTISH textiles company Dawson International has slipped back £1.5 million into the red in what the company described as a "temporary setback" in its turnaround plan.

The former owner of the Pringle of Scotland brand said production issues at its Todd & Duncan cashmere yarn arm had helped force turnover down - and warned that it was unlikely to see a return to profit within the next 12 months.

But the company added that its knitwear divisions Barrie and Dawson Forte in the US had enjoyed an "excellent year" to the end of December.

The firm, which acquired bedlinen brand Dorma two years ago, posted operating losses of £1.5m - down from £2.1m in 2005.

It added turnover had dropped to £102.1m from £111.6m - chiefly driven lower by a weak performance in Dorma and Todd & Duncan. It said trading at Dorma had been poor - mainly due to disruption in its supply chain as EU regulations cut back the amount of products it could source from China.

The firm also admitted it had "moved too far too fast" in the revamp of its Dorma designs, alienating some of its core customer base. Chief operating officer Andy Bartmess said: "These are a really disappointing set of results, especially when you look at the last two years when we made really strong progress.

"The results are down mainly because of two businesses which were under-performing. At Todd & Duncan, one small part of our £2m investment was wrong and that impacted on the whole business as we couldn't make sales during the second quarter of the year, which is our key time."

He added: "We have now sorted all of these issues out - we're now seeing the productivity we expected to get from that.

"When we took over Dorma, it had been a business that was up for sale for quite a while. Unfortunately, we moved too far too fast and lost our core customers. It seems now we've got the designs back to being right."

But finance director Dave Cooper said he did not believe the firm would go into the black by its next set of annual results. He said: "I think it would be a great challenge for us to be back into operating profit by this time next year.

The Kinross-based firm added it planned to double the amount of direct sales of Dorma products to £1m over the next year - following an upgrade to its website, but said the company continued to face hurdles from an increase in raw cashmere prices, which it said it needed to pass down to the customer.

Chairman Mike Hartley said: "These disappointing results for 2006 are a temporary setback in our strategy to return the group to sustainable profit."

The company added that it planned to make further reductions in its underlying pension deficit over the coming year.

After years of losses the company admitted it was just days away from bankruptcy in 2004, but it recovered to celebrate a £2.9m pre-tax profit a year ago.

This article:

Last updated: 05-Jun-07 12:01 BST

[pal999] 12/6/2007 19:56

Hot off the press! Dawson are now proceeding with something in the order of 50 redundancies from their Kinross plant Todd & Duncan. These are across the board, which would indicate some financial problems. Also they are considering relocating their plant in an attempt to improve their sales which are flagging desperately. Time to hold anything you have I think!!!

[cg1953] 05/6/2007 23:04

arthur.
are you not tempted to take a position at this price ?

[brixlaven] 05/6/2007 08:36

Happy to hold at this time,just.Is it not time to off-load the dead wood?

[arthur_lame_stocks] 04/6/2007 19:38

I notice that it's Dorma, a business dumped on Dawson by their then largest shareholder that stopped them from making a profit for the year.

[cg1953] 04/6/2007 07:25

am back in at 3.75
results encouraging.
i believe 'tommorow' will show recovery !!!
also liked the comment on 'value' !!
perhaps now a directors share buy will be the catalyst for a re rating !!?

[bunlop] 25/5/2007 19:05

Results on Monday 4th June. No idea if going to be good or bad.

[cg1953] 03/4/2007 21:57

looking like option money again !!!! dare i ?
caveat emptor.

[tunturiflyer] 03/4/2007 13:04

Either that or they are bankrupt

[arthur_lame_stocks] 03/4/2007 12:19

They went as low as 3.75p today, maybe it´s just people selling before the end of the tax year to realise a loss that´s taking the price down.

[arthur_lame_stocks] 02/4/2007 16:50

Going lower again. I´ll be interested to see the results, I don´t expect them to be great. They really ought to do something about that huge pension fund.

[brixlaven] 28/3/2007 11:02

PAL999.Ref your post 368.That is not the game TAR play,but they could sale some or all then its game on.Only IMHO.

[pal999] 26/3/2007 19:51

TAR holding over 29% and Ghione holding another 5 odd%, combine this with Cantor Fitzgerald and Guinness Peat (who came into play when Ghione was Chairman), watch this space!!!!!

[pal999] 23/3/2007 17:12

news?? anyone out there??

[brixlaven] 10/2/2007 12:23

TAR ticking up over the last 6 months from the summer low,will there holding in DWSN give them some say over table as to any deal and the fact they are still in could be seen as a pos.Only IMHO.

[brixlaven] 06/2/2007 08:17

Was the update a shock? No. Intensive care IMO also no, maybe rehab with a MBO in the wings or a joint venture.Something must happen ASAP as to stand still will send DWSN into intensive care.IMHO.