Stanley Gibbons Share Discussion Threads

[clocktower] 29/7/2016 13:24

Maybe time to get back in gbh2 - moving forward to higher ground.

[gbh2] 26/7/2016 20:44

Those odd large sells put me off, begs the question of whether pump & dump is operating here.

[walbrock82] 26/7/2016 09:40

Clocktower
Whatever properties they own is sold off and their last annual report showed operating leases totalling £16m with annual expenses of £2.5m, up from £1.3m.

[walbrock82] 26/7/2016 09:34

Having research SGI hxxp://www.stockopedia.com/content/10-signs-of-trouble-at-rare-antiques-dealer-stanley-gibbons-108738/, the one thing that should worry shareholders is cash in the bank. Here's why:

The company's cash cycle historical average is 300-400 days. Now, it averages 700 days.
That increase meant the company needed to borrow money to meet its working capital.

A look at the change in cash cycle days should tell you about its short-term liquidity constraints.
In 2012, its cash cycle was 375 days with daily expenses of £82.8k. Therefore, working capital required is £31.05m.
By 2014, working capital required has increased to £69.72m, and a year later its £101.47m.

The working capital increase in 2014 was £38m, but the company raised £39m in equity to pay for its acquisitions, and that has "offset" the increase in debt.

The working capital increase in 2015 from 2014 was £31.75m, this was funded by all the cash in the bank, along with a £2.5m overdraft, so a total of £12m.

The company borrowed an extra £9.2m, along with the increase in liabilities coming from pensions, tax and other payables amounting to £4.9m, along with the sale of £4.4m of a freehold property, a total of £30.5m.

So, the result coming out for March 2016, will there be a further increase in cash cycle days?

[henchard] 25/7/2016 16:37

Doubt they own the freehold clocktower. Freehold land and buildings as of 31 March 2015 were valued at £362,000 per the Annual Report (note 12, p. 29).

[clocktower] 25/7/2016 16:15

Do they own or lease the property below? If they own it must be worth a reasonable sum being located where it is.

[gbh2] 22/7/2016 12:54

I'm just back from an early lunch and a walk, three circuits of Yeadon Tarn, very hot out there.

[clocktower] 22/7/2016 12:17

gbh2, That last trade of 690k might have been linked to yesterdays large sell, so a buy. Not much volume today so far, holidays, hot weather, maybe a good time to do so.

[gbh2] 22/7/2016 09:56

Trading looks similar to yesterdays can't help but wonder if there's another chunk being sold off in the background.

MB:

IOW / IOM much if a muchness to someone living in the middle of the Yorkshire Dales ;)

Nice stamp, I know which my best ones are and they're nowt near 10K each, but then I did prefer chasing wild women when I was younger.

[moneybags] 22/7/2016 08:07

GBH2

IOM

Not

IOW

The difference is 40%

p.s...........This was one of mine.We both collect then. Beats chasing wild women...!



All good fun

Regards , MoneyLetsMakeABuckTodayBags

[spob] 21/7/2016 18:07

Adjusting for the number of shares is the easy bit

Guessing what has really been going on in this company and why the previous auditor refused to sign off the accounts is the hard bit.

This essentially means that dealing in these shares right now is speculation rather than professional investment. (unless of course, you are party to inside information)

Only when we have facts and figures based on fully audited up to date accounts can we then decide if there is value on offer.

[saucy sue] 21/7/2016 17:47

Beware. Peeps on here might have forgotten there are now 7 times more shares in issue than six months ago, So all historic eps assets per share etc, as well as the share charts, are completely useless (in fact dangerously misleading) as any guide to value now. Don't know whether the Shares Mag article today realises that.

[hectorp] 21/7/2016 16:33

I didnt buy as yet so ready to take my step in tomorrow or Monday.

[gbh2] 21/7/2016 16:25

CT, I think it's been the reason for the share price remaining flat in spite of some good buying volume, however as we know the MMs are a law unto themselves so time may tell a different story.

[clocktower] 21/7/2016 16:22

You may see a late buy to match it after close gbh2 or part of an even larger buy that may come out the woodwork after close or tomorrow.

[clocktower] 21/7/2016 16:22

You may see a late buy to match it after close gbh2 or part of an even larger buy that may come out the woodwork after close or tomorrow.

[gbh2] 21/7/2016 16:14

Looks more like a sell.

[u696061] 21/7/2016 15:41

Massive buy

[clocktower] 21/7/2016 15:27

That last trade for 725k has made an impact on today's volume as expected.

[gbh2] 21/7/2016 14:44

It's to be hoped they're into much more than Stamps these days, I can hold onto my collection until they come back in fashion.

[clocktower] 21/7/2016 14:39

LOL - gbh2 - SGI will not have loads of "modern stuff" - the large inventory has been sitting around all to long as we all know - in its own rights it will ancient and the collectables may almost be antique.

[gbh2] 21/7/2016 14:15

I was discussing my stamp collection with a dealer this morning, according to him the bottom has dropped out of the market for FIRST Day Covers, Gutter Pairs & even Traffic Light Gutter Pairs in fact most modern stuff!

[gbh2] 21/7/2016 14:10

Aggrrr You still put tongue to envelope on the IOW MB, you should pay someone to do that horrible task ;)

[moneybags] 21/7/2016 13:55

gbh2............your quote


"I suspect they are in the know as to what is going on."

I am with you on that.

Regards , MoneyLickAStampBags