Swallowfield Share Discussion Threads

[eezymunny] 06/11/2013 09:31

Dir buys look interesting to me given all that's going on here.

I've bought some for my Eezymunny portfolio..further thoughts here...

[smithie6] 11/10/2013 19:31

Baner
...so in the past did the MD refuse to enact suggestions from the major shareholders ?

viewing from outside....the EPS increased steadily over the years...managed to support paying a significant divi (co-operating, I assume, with requests from the major shareholders)....while also making large investments in new machinery and also growing steadily the % of sales outside the UK.....so, that data doesnt indicate (at first sight) that the prev. MD was so bad......while on other hand the results/perf. was not special....perhaps somewhere in the middle ?

(although one could argue that the strategy development didnt appear to go anywhere over the prev. 5 years.....
in terms of visible results anyway (UK, China and Czech. republic strategy)....and the recent drop in turnover, buck stops at the ex-MDs door for that one since had to stop somewhere.....while noting that it is a tough sector, with small margins...

(while it is clear that recent results were....bad...incl. the debt level
....which is not good after the large investments in new machinery)

[smithie6] 11/10/2013 19:22

Axminster affair ??

wats at ?!

...a Devon version of the Pelican Brief perhaps ?!
...with a touch of cream teas, carpets...and secret meetings at the Thursday market or Riverside Cottage !

[baner] 29/9/2013 20:43

countryman5

is it that difficult to find out yourself ?

[coolen] 29/9/2013 20:34

Do not forget that entrepreneur Peter Gyllenhammar is behind Stephen Boyd.

Boyd being Gyllenhammar's man within Pittards, the latter last week subject to a hostile bid approach.

[countryman5] 29/9/2013 19:44

Hi Baner.
Is the man who misbehaved grossly in relation to the Axminster affair still the chairman at Pittards, or has he moved on?

[baner] 29/9/2013 18:04

Highly intelligent, excellent track record and totally focussed on building shareholder values. Everything that ms Winnning and her keen supporters were not. Sad he misbehaved grossly in relation to The Axminster affair - however thanks to that we got an even better chairman in place and finally also got rid of mr McKinnon. So also this saga will come good eventually, after so many awful chapters of the past! The Winning/McKinnon team cost shareholders many, many years of no development at all, and brought the company very close to the cliff. How any shareholder could support these incompetent and devious persons is a mystery. Or maybe in this case it is not!

[countryman5] 29/9/2013 16:26

Hi Baner.
What are your thoughts on Stephen Boyd?

[baner] 26/9/2013 20:49

anyone would be impressive when compared to the former CEO! not to mention the awful Ms Winning who was so keenly supported by some of the major shareholders........shame on them!

the awful recent state of affairs reflect the complete lack of competence at the former board and their supporting shareholders.

however, it seems the company is now turning the corner and things will get better going forward - it was about time and indeed a "close shot". the new Chairman has a fantastic track record and the new CEO the right profile no doubt. this could now well turn around and then enter a highly exciting growth phase - it is just so sad this was delayed for years and years by the terrible Winning/McKinnon team and their supportive local shareholders........

[countryman5] 26/9/2013 20:33

Had a meeting with the new CEO....impressive.

[topvest] 19/9/2013 21:05

Awful results as anticipated. Gross margins falling from nearly 11% to 8% tells it all for me. The gross margin has fallen away even faster than sales, which shows that they have had to buy business to compensate for the loss of sales to the big-3. No dividend and the prospect of another big restructuring in 2013/14 probably means no dividend at all. Glad I sold almost all of mine. May be an opportunity in 6 months or so, but way too early to get in again, in my opinion. To be fair they have stabilised the position, but it's not great and there is no room for another problem to emerge!

[countryman5] 19/9/2013 19:43

A 5000 and a 8000 buy. Would this be the new Chairman and CEO putting their toes in the water?

[smithie6] 19/9/2013 10:01

results

personally....OK
better than I was expecting
around breakeven when remove one offs
debt higher than ideal....but if manage to sell other site...perhaps that can be reduced in 1 go...



considering the major loss of business from a major customer....
they have done well imo to obtain new work...and also grow exports

the % in exports is now impressive....large growth vs. a few years ago...

as stabilisation finishes....need to work on profitability....but consequential of course on business and sales...

profitability may need strategy ...3 international sites...to kick in...work

[countryman5] 16/9/2013 17:53

Update by the new management team on thursday???

[smithie6] 02/9/2013 20:36

anyone ...any opinions on SWL share price at the moment ??

[coolen] 20/7/2013 00:01

Smithie is spot on: PI's should make full use of "limit orders".

[smithie6] 19/7/2013 13:52

...agree with you ......
the 2 biggest shareholders wanted a new chairman and MD...and I assume they probably played a part in finding/signing up these 2....
so I would assume...if Im right... that that implies they are very supportive...

----
going back to the working capital and debt....
I assume that it means that needing less working capital...and hence as a result that debt has reduced.....
but imho they should have included some actual numbers

----

interesting to see that a few trades in SWL over last 2 weeks...
MM is charging too much of a spread imo...
for matching trades across on the same day. eg. Monday past
he is charging 5-6p on share price of 79-85p

6-7% and only holding the shares for hours on same day in some cases....
anyone wanting to trade should perhaps try to use a limit order closer to the mid price imo....and if the MM wants to trade and make a cut...then he will have to make the trades...makes 0% if no trades go thru

[countryman5] 14/7/2013 16:04

Imporessive chairman in place, new Chief Exec starts tomorrow. Hopefully all larger shareholders will be supportive of management. Clearly a new chapter has started.

[smithie6] 07/7/2013 19:40

"Outlook

...... The outlook for fiscal 2014 therefore remains unchanged."


Anyone know what the numerical expectations are ...since no numbers revealed in the RNSs.

[smithie6] 27/6/2013 15:15

"However, working capital will be below previous estimates and we anticipate that our net debt position at the end of the year will also be lower than previously advised.

Outlook

...... The outlook for fiscal 2014 therefore remains unchanged."


I keep hoping that one day....companies on London markets will include numbers in their RNSs such as "will be between X and Y " (as given by USA listed companies)....and not give blah blah

(but sadly, looks unlikely to ever happen)

maybe institutions will be told numbers at private meetings....but us PIs aren't being told, imho.
====

"net debt position will be lower"

does that mean that net debt will be higher...or lower !!

[topvest] 27/6/2013 13:43

Another profit warning..not surprising I suppose given the new CEO starts shortly and they might as well get the bad news out now.

[smithie6] 18/6/2013 14:22

Ah ha, and now a new MD announced.
Looks like a good appointment imo

so, another round of applause to those involved.

be interesting to see how the new chairman and MD get on...

[smithie6] 15/6/2013 14:58

new chairman announced.

round of applause to whoever played a part in signing him up
from what I can see he looks to have a very strong record....especially to have at such a small cap. company.....imo beneficial news for shareholders...and for workers

---

if I recall correctly...the MD steps down in August....
so at some time a new MD will hopefully be announced....or that the current MD will stay on for a bit longer till new MD is found....
...perhaps the new chairman has someone in mind...

[smithie6] 30/5/2013 17:19

...I notice that Creightons have been reported OK/good results....and the share price has followed...doubled over last X months...

partly from own brands doing well

...while Cussons report that lots of competition ...I guess as always in sales to the public...

at some time there should be some news from SWL....such as new chairman and MD...

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or maybe not....if same as last year then next news is final results in Sept !
unless some trading or MD/chairman news before then...