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Fulmar Share Discussion Threads
Showing 26 to 47 of 50 messages
|Been here for quite a while......... good news today whatever happens...|
|hello - anyone here?|
|Looks good for a 10% mark up, buy at 75 now and sell at 88 in December Id say.
John Mc Culloch xxxx|
|Marked up IC tip.|
|DEAD as a dodo, is no one interested in this stock yielding 7%.
|Ah ha! That explains it then. Cheers Jeff.|
|What the bloody hell has been going on here the last few days?|
Just thought you'd like to know that the Scotch hit the rocks last week and PWC were called in to do the honours.
|Well I was wrong, right, and wrong. Wrong in that there has been no profit warning yet. Right in anticipating a fall in profitability. Wrong in predicting stockmarket reaction. In fact so far there has been NO reaction. At 70/75p I would still be cautious on this one : "....and that weakness continued into the early part of 2002." There are better places for my money.|
Thanks for another informative post, it's great
when you have information coming direct from someone
involved hands on in the industry.
I do have a full time job myself as well, but the more
Fulmars around the quicker I will be able to leave it
Scotch on the rocks then I take it ??
Hello there. I'm not sure Quarto publish the kind of books that Bookmarque manufacture, they're more into highly illustrated larger format books the news from Scotland is fairly encouraging for Bookmarque however.
I do get the feeling that you could be right about FMR being on an upswing. I was considering buying back in last week but got caught up on other projects and didn't follow it through, it's most inconvenient having a full time job you know. How annoying I thought when I tuned in this morning and saw a blue 13% sitting there winking at me.
Hope it holds up for you.
|I'd be surprised if this didn't hit at least 80p within the next year
- Net assets about £1.05 at 31/12/01... and to come this year :-
- Benefits of the acquisition
- Reduced cost base
- Higher productivity
I bought back into Quarto Group on Friday after they reported better
figures than I expected, and optimism for the current year.
The Chairman there talks of better than expected Xmas sales, with
retailers 'both short of inventory and more optimistic about the
Sounds as if Bookmarque will benefit from this.|
|Mike Taylor quoted in Print Week:
"This acquisition drives our group numbers - it's a well-run business and improves our earnings per share with immediate effect,"..."It's a good deal for both of us. We can help them by unburdening them of the administration side of things, letting them get on with business."|
|Tom, your right, its up to £3m for £1.4m in assets (I was eating my breakfast cereal at the time), and the assets may be significantly depreciated as well. My objection still stands however.
I have seen this situation before with other companies and anticipate that there will be an opportunity to buy into Fulmar in the future well below today's 55p before they turn the corner. I also am not a holder but I follow their progress. The P/L A/C may appear healthy but Fulmar is a situation where health should be measured via cashflow IMO.|
It's £2m rising to £3m depending on performance for the £1.4m of assets in Quadracolor isn't it and I suspect they're anticipating it being earnings enhancing and not being as concerned about the net asset value.
The £3.7m is for the new Heidelbergs and on that front one must hope (for their sake, I'm no longer a holder myself) that they have either the prospective sales or the scope for rationalisation to justify that investment. I would very much suspect that the presses being replaced are less than half as productive so they'll be doing one or the other (or a combination of both). Given the "difficult trading conditions experienced by our commercial printing businesses" I assume that they're hoping the increased productivity will allow them to approach new sales more aggressively if increased turnover is part of the bargain.
It's a bold but not necessarily misguided stategy to invest heavily in poor trading conditions in order to reach the upturn in an enhanced position comaparative to more timid rivals.
Why pay a valuable £3.7m cash for £1.4m in assets when Fulmar is at such a substantial discount to NAV? Where are the negotiating skills? Have they not spent enough money in the past couple of years?
I noticed this bit;
" Mike Taylor, Chief Executive, stated 'The difficult trading conditions
experienced by our commercial printing businesses - which tend to be early
indicators of entry into and exit from recession - continue. "|
|Tom... I e-mailed you as requested but no response.
What's up mate ?
email [email protected]
|I'd have thought Mike would be keen to keep the dividend up if he can so I should think you'll get your 3.4p barring disasters on the trading front, after all it was covered more than twice by earnings last time out.
|Interesting Tom..... thank's for that, though I hope you
are wrong !
Not expecting miracles from this stock, just a bumper div
in the short term and a good capital gain in the medium term
... the buybacks will reduce the total div payout so I'm pretty
confident of an unchanged div and then see how things pan out.
Thanks again for the info, even if it wasn't positive
|Basically they got some chap from the St.Ives group's book printers (Clays, who are successful & very well thought of in the industry) to head up Bookmarque and he apparently upped sticks and left them just before Christmas, I don't know any more than this but I'll try and dig around a little.
My understanding is that they're still struggling to win sufficient market share for Bookmarque but that's an understanding not a confirmed fact.
|Incidentally I believe they lost a (if not the) key man from the management team at Bookmarque just before Christmas.|