Findel Share Discussion Threads

[qantas] 27/3/2019 10:45

FYI

Findel, Ashley's other listed takeover target, has published its shareholder circular urging investors to reject Sports Direct's 161p offer which it claims "is opportunistic and undervalues" the company

Please do your own research as always.

[cheshire man] 16/12/2018 09:07

16/12/18

MIDAS VERDICT

Findel has been through hard times but Maudsley and his team are committed to delivering growth.

The company now offers customers an enticing blend of value-based e-commerce with credit attached and the education business is recovering too. V

eteran stockpicker Andy Brough of Schroders is a big fan, recently taking his stake to almost 19 per cent, while six members of the board bought shares last month too.

At £1.77, the shares are a buy

[from8to800] 15/8/2018 08:47

When are results/updates due? This is testing my patience.

[from8to800] 08/6/2018 13:59

3rd eye are you the owner of the 50k shares transaction?

[3rd eye] 08/6/2018 13:27

FDL Findel........ online retailer wholesaler.

Came up on my screener and after quite a lot of research taken a healthy position. Spread is a little wide but helps to buy in 2 tranches or more.

Last results just a couple of days ago.......



Outlook

We are confident in the medium-term prospects for the Group, with Express Gifts able to see further growth in its customer base through its clear focus on providing great value products to its customers and transforming itself for a digital future. Express Gifts aims to be forward-looking and proactive in its approach to financial services regulation and risk management to ensure that it achieves sustainable returns.

The operational turnaround of Education continues to show encouraging results, but we will learn more about the likely pace of translation into profit once the seasonal back-to-school peak period has been completed in September.

We are encouraged by the start to the new financial year from both businesses, and remain confident in the opportunities for future profitable growth.

Broker Talk


Edison Investment Research Limited: Edison issues outlook on Findel (FDL)
08-06-2018 10:18
Edison Investment Research Limited Edison Investment Research Limited: Edison issues outlook on Findel (FDL)

08-Jun-2018 / 10:18 GMT/BST

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London, UK, 8 June 2018

Edison issues outlook on Findel (FDL) Findel (FDL) is seeing outstanding success with its online-led value retail strategy. FY18's 21% PBT growth includes a strong Black Friday and Christmas campaign. However, underlying independent market share growth puts FDL on the right side of a difficult sector. Also, considering that customer redress has been bottomed out, Education has been stabilised and that core net bank debt (excluding receivables-related debt) is close to net positive, most of the negatives in the investment case have been removed. FDL appears to have turned the corner and our revised valuation suggests significant valuation headroom.

In our view, despite the recent share price rise, a FY19e P/E of 9.9x, does not yet fully recognise FDL's independent growth characteristics or the effective removal of the negatives in its investment case. Our revised valuation approach uses two metrics: a DCF projection to value on the longer-term income stream; and relative valuations to price growth among peer retailers. The first values the shares at 401p, the second at 455p. We therefore define a blended valuation of 428p, implying an unstretched FY19e P/E of 15.5x and EV/EBITDA of 8.5x.

[from8to800] 07/6/2018 10:47

Some delayed interest in this. Good to see. Onwards and upwards.

[1gw] 06/6/2018 18:23

It's certainly made an encouraging start...

[from8to800] 05/6/2018 17:35

Results out tomorrow then? Hope that's the catalyst that gets this moving!

[1gw] 01/6/2018 17:39

"The Group expects to announce its full year results on 6 June 2018"

They issued an encouraging TU on 17th April:

"The Group's performance is expected to be at the upper end of market expectations(1)"

where:

"(1) The PBT range of consensus market forecasts from analysts for FY18 is £26.0m to £26.5m."

[from8to800] 24/5/2018 16:51

When are results out for this one? Or a trading update at least?

[walbrock82] 29/11/2017 17:27

Revenue rose 8.4% LFL vs. 6.1% increase in overall sales. Express Gift was the deliverer was 15% LFL sales growth.

Although, operating profit rose to £16m from £2.6m. Profit didn’t convert into cash profit as it reports operating cash loss of £4.2m. This is due to a reduction in the provision of £10m.
In fact, a reduction in provision helped to boost Findel PLC Income Statement by £10m. Also, helping Findel to report a profit is a lower bad debt from receivables to £10m vs. £16m last year.
Overall, Findel profits were boosted by a reduction in the provision of £10m and a decline in bad debt of £6m. In total, it contributed £16m to Findel Income Statement. This is a good thing if positive momentum in the business continues.
However, to fully understand Findel business and future opportunity, we must look back at the past to uncover gems or traps in the future. For the full report on Findel, which includes:
1). Share price history;
2). Business model:
3). Why Findel struggles to grow net profit for some time?
4). Findel’s debt;
5). Outlook.
Then click on the link

[molatovkid] 29/11/2017 12:18

Ok...so thats £2 hit inside 4 hours from my previous post.

I am now revising my upside to £2.50 - £3

[molatovkid] 29/11/2017 08:20

excellent results back to £2+ no problems

[scapital] 13/6/2016 16:56

Suggests results tomorrow not going to be good.

[scapital] 17/5/2016 16:21

Up 4%, not sure my heart can take these wild share price movements.

[scapital] 06/5/2016 11:59

Bit of movement today. As exciting as it gets at FDL.

[scapital] 12/4/2016 08:47

Morgan Stanley no longer have a notifiable holding.

[1gw] 08/4/2016 09:01

Pay day loans perhaps? They appear to have borrowed more than 2% shares on 1st April only to give nearly all of them back today. And the MMs have got the spread at +/- 4% so they don't seem to want any trading business.

Games being played somewhere I expect.

[scapital] 08/4/2016 08:54

What are Morgan Stanley up to?