Colefax (CFX)

Company name:	Colefax Group Plc
EPIC:	CFX	Trading Currency:	GBX
Market Sector:	AIMP	ISIN:	GB0002090453
Market Segment:	ASX1	Share Type:	DE
WWW Address:	http://www.colefaxgroup.com/	Description:	ORD 10P
Industry Sector:	HOUSEHOLD GOODS & HOME CONSTRUCTION

Price	Price Change [%]	Bid	Offer	Open	High	Low	Volume
465.00	15.0 [3.33]	440.00	490.00	465.00	465.00	450.00	2,790
Market Cap. [m]	Shares In Issue [m]	Beta	EPS	DPS	PE Ratio	Yield	52-Wks-Range
64.68	13.91	0.11	21.40	2.60	21.73	0.56	465.00 - 305.00

Colefax Key Figures

(at previous day's close)
Market Cap.	64.68	m
Shares In Issue	13.91	m
Prev. Close	450.00
PE Ratio	21.73
Dividend Yield	0.56	%
EPS - basic	21.40	p
Dividend PS	2.60	p
Dividend Cover	8.23
Cash Flow PS	66.35	p
Return On Equity (ROE)	6.81	%
Operating Margin	2.78	%
PEG Factor	-0.48
EPS Growth Rate	-45.55	%
Dividends PS Growth Rate	-50.00	%
Net Debt	28.84	m
Gross Gearing	58.87	%
Quick Assets	18.49	m
Net Working Capital	17.41	m
Intangibles / Fixed Assets	75.35	%
Turnover PS	563.36	p
Pre-Tax Profit PS	15.64	p
Retained Profit PS	12.06	p
Cash PS	82.95	p
Net Cash PS	-36.36	p
Net Tangible Asset Value PS *	15.48	p
Net Asset Value PS	202.80	p
Spread	50.00 (10.20%)
* Calculation based on Ordinary Capital figure as contained in last annual report, and the most recent shares in issue figure. Therefore the ratio might be exposed to inaccuracies.

Colefax Balance Sheet

Share Price Performance

Sample Period ^†	High	Low
1 week	465.00	435.00
4 weeks	465.00	430.00
12 weeks	465.00	410.00
1 year	465.00	305.00

Share Price Chart (5 years)

Colefax Historic Returns

Period ^†	Open	Change	%	Open Avg.	Avg. Daily Vol [m]	Total Vol [m]	VWAP
1 week	445.00	20.00	4.49	435.00	0.00		442.00
4 weeks	435.00	30.00	6.90	430.00	0.00		438.73
12 weeks	415.00	50.00	12.05	410.00	0.00		422.85
26 weeks	395.00	70.00	17.72	375.00	0.00		409.28
1 year	435.00	30.00	6.90	305.00	0.00		414.45
3 years	530.00	-65.00	-12.26	305.00	0.01		495.37
5 years	482.50	-17.50	-3.63	305.00	0.01		486.40
† periods calculated are whole weeks rather than calendar months

Colefax Key Management Ratios

Colefax Investment Ratios

(Market value analysis) at previous day's close
PQ Ratio	14.14
PE Ratio	21.73
Tobin's Q Ratio	1.16
Tobin's Q Ratio (excl. intangibles)	1.52
Dividend Yield	0.56	%
Market-to-Book Ratio	2.29
Price-to-Pre-Tax Profit PS	29.72
Price-to-Retained Profit PS	38.55
Price-to-Cash Flow PS	7.01
Price-to-Sales PS	0.83
Price-to-Net Tangible Asset Value PS	30.04
Price-to-Cash PS	5.61
Net Working Capital PS	125.15
Price Pct to Working Capital PS	3.72	%
Earnings Yield	4.60	%
Average PE	16.28
Years in average	5
PE to PE average	133.48	%

Colefax Financial Ratios

(Leverage Ratios)
Debt Ratio	45.74	%
Debt-to-Equity Ratio	0.84
Debt-to-Equity Ratio (excl. Intgbl)	11.05
Debt-to-Equity Market Value	0.37
Net Gearing	42.05	%
Net Gearing (excl. Intangibles)	67.81	%
Gross Gearing	58.87	%
Gross Gearing (excl. Intangibles)	94.94	%
Gearing Under 1 Year	24.20	%
Gearing Under 1 Year (excl. Intgbl)	39.02	%
Assets/Equity	2.43
Cash/Equity	40.90
(Liquidity Ratios)
Net Working Capital to Total Assets	25.38	%
Current Ratio	2.05
Quick Ratio (Acid Test)	1.11
Liquidity Ratio	0.70
Cash & Equiv/Current Assets	33.93	%
(Solvency Ratios)
Enterprise Value	76.92	m
CFO/Sales	0.12
CFO/Attributable Profit	4.81
CFO/Assets	0.13
CFO/Debt	0.23
Total Debt/Equity Market Value	0.62
Total Debt/Sales	0.52
Total Debt/Pre-Tax Profit	18.56
Total Debt	40.38	m
Total Debt/Net Current Assets	2.32	%
(Dodds - Graham Ratios)
3 yr Compound Earnings Growth	-	%
5 yr Compound Earnings Growth	-	%
10 yr Compound Earnings Growth	-	%
Earn drops > 5% in 10yrs	6

Beta (60-Mnth)	Beta (36-Mnth)
0.1056	0.1343

Colefax Operating Ratios

(Profitability Ratios)
Return On Capital Employed (ROCE)	4.19	%
Return On Assets (ROA)	3.45	%
Net Profit Margin	2.45	%
Assets Turnover	1.41
Return On Equity (ROE)	6.81	%
Return On Investment (ROI)	4.77	%
Dividend Payout Ratio	12.15	%
Plowback Ratio	87.85	%
Growth from Plowback Ratio	6.17	%
Net Income Of Revenues	2.14	%
(Asset Utilisation Multiples)
Shareholders Equity Turnover	2.87
Fixed Assets Turnover	3.66
Current Assets Turnover	2.29
Net Working Capital Turnover
Inventory Turnover	5.36
(Other Operating Ratios)
Total Assets-to-Sales	0.71
Debtors-to-Sales	11.69	%
Debt Collection Period	42.68	Days

Colefax Dividends

Announcement Date	Type	Curr.	Dividend Amount	Period Start	Period End	Ex Date	Record Date	Payment Date	Total Dividend Amount
28 Jan 2020	Interim	GBX	2.60	30/04/2019	30/04/2020	12/03/2020	13/03/2020	09/04/2020	2.60
23 Jul 2019	Final	GBX	2.70	30/04/2018	30/04/2019	12/09/2019	13/09/2019	10/10/2019	5.20
29 Jan 2019	Interim	GBX	2.50	30/04/2018	30/04/2019	14/03/2019	15/03/2019	10/04/2019	-
26 Jul 2018	Final	GBX	2.60	30/04/2017	30/04/2018	06/09/2018	07/09/2018	10/10/2018	5.00
29 Jan 2018	Interim	GBX	2.40	30/04/2017	30/04/2018	01/03/2018	02/03/2018	09/04/2018	-
25 Jul 2017	Final	GBX	2.50	30/04/2016	30/04/2017	07/09/2017	08/09/2017	10/10/2017	4.80
24 Jan 2017	Interim	GBX	2.30	30/04/2016	30/04/2017	02/03/2017	03/03/2017	10/04/2017	-
26 Jul 2016	Final	GBX	2.40	30/04/2015	30/04/2016	08/09/2016	09/09/2016	10/10/2016	4.60
26 Jan 2016	Interim	GBX	2.20	30/04/2015	30/04/2016	03/03/2016	04/03/2016	11/04/2016	-
28 Jul 2015	Final	GBX	2.30	30/04/2014	30/04/2015	10/09/2015	11/09/2015	09/10/2015	4.40
26 Jan 2015	Interim	GBX	2.10	30/04/2014	30/04/2015	05/03/2015	06/03/2015	10/04/2015	-
17 Jul 2014	Final	GBX	2.20	30/04/2013	30/04/2014	10/09/2014	12/09/2014	09/10/2014	4.20
27 Jan 2014	Interim	GBX	2.00	30/04/2013	30/04/2014	05/03/2014	07/03/2014	09/04/2014	-
24 Jul 2013	Final	GBX	2.10	30/04/2012	30/04/2013	11/09/2013	13/09/2013	10/10/2013	4.00
29 Jan 2013	Interim	GBX	1.90	30/04/2012	30/04/2013	06/03/2013	08/03/2013	10/04/2013	-
26 Jul 2012	Final	GBX	2.00	30/04/2011	30/04/2012	12/09/2012	14/09/2012	09/10/2012	3.85
25 Jan 2012	Interim	GBX	1.85	30/04/2011	30/04/2012	07/03/2012	09/03/2012	10/04/2012	-
21 Jul 2011	Final	GBX	2.00	30/04/2010	30/04/2011	14/09/2011	16/09/2011	11/10/2011	3.85
27 Jan 2011	Interim	GBX	1.85	30/04/2010	30/04/2011	02/03/2011	04/03/2011	04/04/2011	-
22 Jul 2010	Final	GBX	1.55	30/04/2009	30/04/2010	15/09/2010	17/09/2010	12/10/2010	3.10
26 Jan 2010	Interim	GBX	1.55	01/05/2009	31/10/2009	03/03/2010	05/03/2010	01/04/2010	-
20 Jul 2009	Final	GBX	1.33	30/04/2008	30/04/2009	09/09/2009	11/09/2009	09/10/2009	2.88
27 Jan 2009	Interim	GBX	1.55	01/05/2008	31/10/2008	11/03/2009	13/03/2009	14/04/2009	-
24 Jul 2008	Final	GBX	2.65	30/04/2007	30/04/2008	10/09/2008	12/09/2008	10/10/2008	4.20
24 Jan 2008	Interim	GBX	1.55	01/05/2007	31/10/2007	12/03/2008	14/03/2008	10/04/2008	-
23 Jul 2007	Final	GBX	2.55	30/04/2006	30/04/2007	12/09/2007	14/09/2007	11/10/2007	4.00
22 Jan 2007	Interim	GBX	1.45	01/05/2006	31/10/2006	07/03/2007	09/03/2007	12/04/2007	-
19 Jul 2006	Final	GBX	2.37	30/04/2005	30/04/2006	13/09/2006	15/09/2006	12/10/2006	3.75
24 Jan 2006	Interim	GBX	1.38	01/05/2005	31/10/2005	08/03/2006	10/03/2006	12/04/2006	-
20 Jul 2005	Final	GBX	2.16	30/04/2004	30/04/2005	07/09/2005	09/09/2005	12/10/2005	3.50
26 Jan 2005	Interim	GBX	1.34	01/05/2004	31/10/2004	09/03/2005	11/03/2005	13/04/2005	-
22 Jul 2004	Final	GBX	2.06	30/04/2003	30/04/2004	08/09/2004	10/09/2004	12/10/2004	3.40
19 Jan 2004	Interim	GBX	1.34	01/05/2003	31/10/2003	03/03/2004	05/03/2004	08/04/2004	-
22 Jul 2003	Final	GBX	2.06	30/04/2002	30/04/2003	10/09/2003	12/09/2003	10/10/2003	3.40
21 Jan 2003	Interim	GBX	1.34	01/05/2002	31/10/2002	05/03/2003	07/03/2003	10/04/2003	-
26 Jul 2002	Final	GBX	2.06	30/04/2001	30/04/2002	11/09/2002	13/09/2002	10/10/2002	3.40
22 Jan 2002	Interim	GBX	1.34	01/05/2001	31/10/2001	06/03/2002	08/03/2002	10/04/2002	-
17 Jul 2001	Final	GBX	2.00	30/04/2000	30/04/2001	12/09/2001	14/09/2001	10/10/2001	3.30
18 Jan 2001	Interim	GBX	1.30	01/05/2000	31/10/2000	07/03/2001	09/03/2001	10/04/2001	-
19 Jul 2000	Final	GBX	1.90	30/04/1999	30/04/2000	11/09/2000	15/09/2000	10/10/2000	3.15
13 Jan 2000	Interim	GBX	1.25	01/05/1999	31/10/1999	06/03/2000	10/03/2000	07/04/2000	-

Colefax Fundamentals

	30 Apr 2017 (GBP)		30 Apr 2018 (GBP)		30 Apr 2019 (GBP)		30 Apr 2020 (GBP)
turnover	80.48	100.00%	86.05	100.00%	86.36	100.00%	78.36	100.00%	m
pre tax profit	2.94	3.65%	4.72	5.48%	5.10	5.90%	2.18	2.78%	m
attributable profit	1.90	2.35%	3.83	4.45%	3.83	4.44%	1.92	2.45%	m
retained profit	1.42	1.76%	3.34	3.89%	3.33	3.86%	1.68	2.14%	m
eps - basic (p)	18.60		38.10		39.30		21.40
eps - diluted (p)	18.60		38.10		39.30		21.40
dividends per share	4.80		5.00		5.20		2.60

Colefax Balance Sheet

	30 Apr 2017 (GBP)		30 Apr 2018 (GBP)		30 Apr 2019 (GBP)		30 Apr 2020 (GBP)


	30 Apr 2017 (GBP)		30 Apr 2018 (GBP)		30 Apr 2019 (GBP)		30 Apr 2020 (GBP)
ASSETS
fixed assets	9.67	22.66%	8.69	20.08%	8.22	19.20%	8.52	12.43%	m
intangibles	-	-%	-	-%	-	-%	26.06	37.99%	m
fixed investments	-	-%	0.03	0.08%	-	-%	-	-%	m
current assets - other	-	-%	-	-%	-	-%	-	-%	m
stocks	13.94	32.66%	14.09	32.54%	13.74	32.11%	15.52	22.63%	m
debtors	12.36	28.96%	11.30	26.11%	11.38	26.59%	6.95	10.13%	m
cash & securities	6.71	15.72%	9.18	21.20%	9.46	22.10%	11.54	16.82%	m

TOTAL	42.68	100%	43.29	100%	42.79	100%	68.59	100%	m

LIABILITIES
creditors - short	13.96	32.71%	13.98	32.30%	14.33	33.50%	16.60	24.20%	m
creditors - long	2.78	6.52%	1.89	4.36%	2.02	4.72%	23.78	34.67%	m
creditors - other	-	-%	-	-%	-	-%	-	-%	m
subordinated loans	-	-%	-	-%	-	-%	-	-%	m
insurance funds	-	-%	-	-%	-	-%	-	-%	m

TOTAL	16.74	39.23%	15.87	36.66%	16.35	38.21%	40.38	58.87%	m

EQUITY
ord cap, reserves	25.94	60.77%	27.42	63.34%	26.44	61.79%	28.21	41.13%	m
prefs, minorities	-	-%	-	-%	-	-%	-	-%	m

TOTAL	25.94	60.77%	27.42	63.34%	26.44	61.79%	28.21	41.13%	m

OTHER
NAV Basic	-		-		-		-
NAV Diluted	-		-		-		-

Colefax Cash Flow Statement

	30 Apr 2017 (GBP)	30 Apr 2018 (GBP)	30 Apr 2019 (GBP)	30 Apr 2020 (GBP)
Operating CF	2.82	7.88	6.93	9.23	m
Pre-Financing CF	-1.27	5.55	1.92	6.11	m
Retained CF	-4.33	2.88	0.00	1.95	m

Colefax Brokers

Name	Activity	Type	Mnemonic	Code
Winterflood Securities Ltd	Market Maker(MMF)	Broker/Dealer	WINS	WNTSGB2LBIC