||EPS - Basic
||Market Cap (m)
|Electronic & Electrical Equipment
Judges Capital Share Discussion Threads
Showing 1876 to 1900 of 1900 messages
|Recovering very strongly probably due to the pound weakening and the positive impact on earnings|
|MM's manage to fleece the departing Sharewatch PI's with a share price drop combined with a wide spread and the shareprice then bounces back to pre-weekend levels :-)|
|To be fair to scsw they dropped them from the growth portfolio but have maintained coverage as they believe they will bounce back in time|
|Cheers Aishah, makes sense of yesterdays weakness, lots of tiny sells with MM's dropping the price to stitch them a little more and bargain hunters picking up later on and today.
People seem to have missed that they've had a decent Q3 after a poor 1st 5 months.|
|Sharewatch sold out of their portfolio at 1300p.|
|Another very helpful video from piworld.
Thank you to those people who make this possible.|
|Video of Judges presentation at Mello 26.9.16
Length: 20 minutes
Brad Ormsby, FD. Talks through the H1 results, where trading has been difficult, and how things have been going since.
David Cicurel, CEO. Talks through the acquisitions, particularly Dia-Stron, and the general market place, and the outlook.|
|Just a reminder that JDG are presenting this evening in Beckenham....
|Surprised this hasn't fallen by a lot bigger %.|
|I actually don't think it was a further profit warning just a re-hash of the post H1 closing July statement.
News today since H1E is actually positive. Organic order intake has moved ahead of last year so Q3 should be at least 3.2% LFL better than 2015 (which in itself was a good Qtr)|
|The 3rd and final profit warning?|
|the financial year has been supplemented by a positive
exchange rate effect and this will take off. Looking to buy|
|Exactly the reason I sold after the last warning, the RNS was trying to warn that more bad news may follow|
Some small selling in April before the 1st warning, but more recent RNS's relate to shuffling of holdings rather than sales AFAIA.|
|"Full Year Outlook
The recent revival in order intake and the positive impact of a weaker pound post Brexit give the Board confidence that the second half will produce better results, however it will be difficult to claw back the underperformance of the first half, as indicated in the AGM statement. The Board now believes that earnings per share for the full year will be substantially below market expectations."
Looks to me now to be ex growth so what would be a realistic p/e going forward ? 10 - 12 possibly ?|
|Another profit warning, recent Director sells the give away. Watching closely for a re entry point, not just yet perhaps.|
|In the current climate, I guess the question is whether Euro-denominated sales will stay at current levels or be adversely affected by the referendum result.|
|Weak sterling a big tailwind for Judges
From the Finals
'As a large percentage of the Group's sales are overseas, exchange rates have a significant impact. Judges' manufacturing costs are largely in Sterling and most of its revenue originates from countries where the standard of value is the Euro (one third of total revenue) or the US Dollar (half of total revenue). Compared with 2014 (when the £/$ rate was particularly high), 2015 saw an overall improvement with a much stronger Dollar, albeit alongside a weaker Euro. Current exchange rates are, in the main, the most favourable we've seen since 2009.'|
|Agreed modform. Today's rns really showed a lack of forward order visibility in a non-cyclical market. I understand this happens in house-builders and recruiters and the like, at certain points in the cycle, however the Judge's businesses should have many clients, be non-cyclical (due to an intellectual moat), and therefore have good forward visibility?
I sold today because I couldn't quantify the implications of the rns. It was far too short and sweet, lacking in clarity, and of no use at all to investors.
In my opinion, this rns only satisfied a regulatory obligation, rather than reporting to their investment partners in the business in a meaningful way, which is what they should be doing.|
|A rns without clarity gives the impression that the actual numbers are worse than we think and the company is waiting for orders to pick up before they announce the numbers.|
|Shouldn't directors understand their order book and why there are shortfalls? I should have picked up on this from the mello presentation, but didnt so I am quite annoyed with myself....The vagueness of the rns today really contributed to the share price reaction. I guess this had to be vague if the order book is a mystery to them?!!|
|oregano - me too. I sold out years ago thinking 300% was profit enough at c. 500p but they tripled again!
They say profit warnings come in threes.
David Cicurel is very astute but IMO he's only starting to ascertain the problem, which could be why it has not been quantified. He will have to produce figures to convince anyone experienced that JDG are a buy again, if & when....
Indeed, he's unusually honest in saying that he, & other directors I presume, still doesn't understand why sales slowed up in 2014, so how can he gauge the damage this time? Hence the RNS without figures...
I also noticed him saying that a lot of JDG sales are one-offs, hinting that the short term problem with JDG's quality products mean they last 20 years! Perhaps JDG have satisfied their market more than they expected?
Uncertainty is always a handicap to a share price, so I'm staying out for now.
Last time this happened the share price went from £24 to £12 in two main moves/gaps in under three months! I still like the company, but "caveat emptor".|
|thanks, for the feedback. I sold in April so am pretty happy. I don't think this is a quality stock but the seasonality appears to give you opportunities. given the wide spread and illiquidity I am inclined to wait for the downgrade.|
|Oregano there wasn't a further update from memory on the order book but they did say that a slow start to each year had become a feature which whilst it had affected some of their competitors they couldn't understand why it had started to become a feature of their business.
Brad Ormsby joined as FD around May 15 and was at the presentation and concurred with this. I'm sure there is a link to a video of the presentation on the Mello site if you want to research the full detail.|
|Here's the Mello presentation.
I thought they presented a very strong picture. Contrasting with 2014, when they didn't know why profits dropped. And that Brexit would have no impact.
And, as Alphabeta4 says, I thought fx would work in their favour.
From the FY results:
"Your Board considers order intake and the resultant period end order book as a critical guide to the Group's ability to achieve its profit targets. At 31 December 2015, our organic order book stood at 11.4 weeks of budgeted sales compared to 9.9 weeks at the start of 2015. This coupled with Armfield's order book gives a Group total of 11.9 weeks."
So well above last year. A shame order book not updated.
Forecasts not changed (downwards)for now, with WHI, although understood risks now greater. WHI also say fluctuations likely to be short term.
Anyone going to the AGM?|