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Sirdar Share Discussion Threads
Showing 151 to 174 of 175 messages
|is there any hidden value in their properties, does anyone know the size and location.
it would appear that they have never been revalued.|
|So, the disposal is taking some time to tie up, but the results were probably a bit better than expected, we have a maintained dividend, the pension deficit has come down nicely, and the comments about current year sales are encouraging. This stock really should be higher.|
|Surely we will see the finals at some point during the coming week. And if we also get some news on the disposal then it must be time for the analysts to start sharpening their pencils.|
|Last year finals came on 14th September - could concievably come next week? Together with news of disposal of speciality yarns division? Plus maintained dividend? Surely got to be worth 50p?|
|Just bought a few--even though the best I could manage was half a pence inside the spread.Let the action commence!|
|Something definitely cooking! Charles Stanley have been advertising as a seller for some time now and suddenly they are off. Stand by for news of a disposal of the speciality yarns division. Anything over say 5 million and this stock is going to look seriously undervalued.|
|Is that the same buyer as yesterday? Is the odd amount the end of the seller´s line? Could we be on the verge of an important announcement? Could be an interesting few weeks for SIRDAR.|
|Very encouraging to see a big buyer operating yesterday. Admittedly he found it easy to get the stock ( presumably it is the same family trust still divesting ) but nevertheless somebody made a serious commitment yesterday and in these sort of markets that really does speak volumes. Perhaps the buyer has some knowledge of just how the sale of the speciality yarns business is going.|
I see SRDR as a hold at this price, but a buy on any weakness. My problem, as you allude to, is that the management have never quite managed to get their act together, or perhaps they have been unlucky, either way I can't quite believe that they will manage to capitalise on the opportunities. However, the property sale looks to have been well managed, so perhaps its a good sign. On good news from the carpet and flooring divisions this would definitely be a buy, but in the meantime there is the nagging doubt that they will manage to waste away the cash in further reorganisations.
I have a good chunk of SRDR already, so am happy to await further news in the knowledge that the divi is safe at the moment,
|Although the interims were uninspiring, Sirdar does continue to be cash generative thanks to substantial depreciation and amortisation elements.With a potential significant decrease in interest charges and pension deficit funding following asset sales, cash generation should improve further.I am attempting to ascertain the book value of residual properties.Eternal reorganisations the downside-but-those flood related purchases might provide a temporary spike in sales.Dont want to invest here if the shares are going to stagnate around 35p for years to come-HOWEVER-any breath of an improvement in trading conditions-OR-the potential share buy back(up to 10% at a 5% premium,as agreed at the last AGM)could put a (small)rocket behind the S.P.---ARE SIRDAR A BUY??????|
|What does it all mean?Back of envelope thoughts.The yarns business ,with profits of 1m/yr ,sale ought to go for at least 10m imo.The property sales of 16m -say they were in the books at 8m-would attract tax of 2.4m,reorganisation costs already announced of £3m,pension deficit reduction of say £2m,less 30% tax relief.bank overdraft reduction of say £5m.All this leaves them 14.2m better off..about 35p/share.SP of 70p not 35p?|
|Looks like somebody just took advantage of that window - 100,000 bought at the mid-price. Seller still has more stock to go though, but this line wil not last forever.|
|Looks as though one of the family trusts has been dissolved and the resulting beneficiary might have sold a few. Nothing to worry about in my opinion - probably a simple case of a younger family member wanting to buy a house. Good window of opportunity for anybody who wants to buy a decent block without getting mucked around by the marketmakers.|
|Hi Elaine and Mesquida.
thanks for your takes.I think the divi is safe.Strange thing about the disposal RNS,it doesn't mention the book value of the properties sold.Thus we don't know how much is an exceptional profit realisation nor the tax consequences.Intriguingly are there other properties held and if so when were they last revalued.Does the brewins note give £5m as the possible price for yarns?
The large holder u mention....The holders are ...mrs tobin,lowland inv trust,mr & mrs Upsdell,mrs Ainslie ,P&O staff superann scheme and Mr c tobin who is a director.Any of these selling would be subject to an RNS.
40 p would do me.|
|Nobody seems to be focussing on the dividend, but surely this is now looking much more likely to be maintained after yesterday´s asset sales. Remember, the annual total is 2.4p - to yield 7.5% at a price of 32p. And still there is more cash to flow into the coffers - the yarns business surely has to be worth 5 million sterling, does it not? Brewin put a note out yesterday with a price target of 40p but personally I think that they are being too conservative. And the really good news is that it is actually quite easy to buy in size at the moment, with one large holder keen to exit for reasons best known to himself! Once this seller has finished the position will tighten up significantly.|
|Hi there meadow. I'm a small holder and hoping for something nice to happen to these shares.
The fundamentals seem to imply there might be value here but the future is rather uncertain. The £3m from the sale of Ensor Mill is supposed to cover the costs of restructuring. It would be nice to have confirmation that this is still expected to cover the costs. But what about future trading? Can the dividend yield be maintained?
The yarns business has basically been written off in my mind. The interim figures were so gloomy about this that I don't expect the actual business to fetch very much when it is sold. Let's hope I'm wrong.
Where is the flooring business going. The RNS about the sale of the properties repeated the "adverse market conditions" comment in the interim report but contained none of the upbeat remarks about future trading. I know they are not supposed to ramble in these notices but are they still optimistic?
I'm continuing to hold.|
|16m of property sales today.The mkt cap is only 14 m.
DY around 8%,Pension deficit- closed scheme- only 9m ..problem solved.Floods increase demand for floor coverings.Where could these shares go?Any other holders here?|
|This could be the next walker greenback. In ten years time we will be saying "do you remember laminate flooring". Could laminate flooring the next wood-chip wallpaper?|
|Very interesting to hear this. I wondered why the share price was not slipping.
Unfortunately it also has the characteristics of a classic value trap as the assets are spent in endless reorganisations of a fading carpet division.
Which will it be?
|Written up in the Investors C. as THE contrarian buy according to their stock screening methods.Not an exciting share but with a NAV of double the share price and a probable more dynamic future ahead,Sirdar will possibly add 50% over the next 12 months.|
|Is the management spinning a yarn ?|
|Aaaaargh.SP down 20%|
|Interims out this morning, not much to say other than at least they still managed a profit and are holding the divi!|
|Anyone know when the interim results are out?|