Ramsdens Share Discussion Threads

[jamessmith23] 03/12/2019 19:06

All his posts are just "this is going down today", someone has clearly been upset by the market recently...

[lammylover] 03/12/2019 17:08

Every time Sammy posts to say SELL, RFX rises.

The next time he posts BUY, I'll be a worried man! LOL Rich

[yump] 03/12/2019 15:23

On filter but I'm guessing that post is a buy signal ;-)
(Its a new form of 'stalker' bot posting)

[sammyshares] 03/12/2019 15:21

time to take profits?

[rivaldo] 03/12/2019 14:06

Agreed podgyted, The results RNS actually states:

"The Group has the benefit of a revolving credit facility, which was used in the summer to fund higher stocks of foreign currency but following the Period end, the Group is currently not drawing on this facility."

So RFX' £12m period end cash pile is real and simply subject to seasonal change in the summer.

[lammylover] 03/12/2019 13:16

patience is a virtue....LOL!

[qs99] 03/12/2019 13:12

looks like joss sticks worked then....glad city now recognising RNS...

[podgyted] 03/12/2019 13:06

WCB - don't agree but the cash pile is used over the summer for FX along with loans - I presume it is only for a few months and this will be where the interest charge comes from.

Not like some contractors which only ever have cash at the year end.

[yump] 03/12/2019 12:49

Can you expain that ? Only receivables+inventory far exceeds payables and then there's £16mln cash.

[westcountryboy] 03/12/2019 12:30

Riv - I agree - more to come here. But there is no cash pile. See the net interest payment of £314k. Always worth checking that figure, as otherwise year end cash totals can flatter to deceive.

[podgyted] 03/12/2019 12:17

Simon Thompson

[yump] 03/12/2019 12:06

On the move a bit now - looks like genuine buying not arbitrary markup.

[yump] 03/12/2019 11:47

Hopefully this isn't one of those businesses whose rating just sticks at a low level. I think its big enough to take it out of that problem that happens with micro-caps. Plus its not got a load of exceptionals that keep appearing, because its not doing the big buy and build stuff. Nice 'clean' accounts.

Proving itself bit by bit. Be nice to look back and not care why it stuck at this level for so long, because its permanently up higher.

Look what happened to PETS. One year its 'doomed' at 120p, now its more solid and only growing slowly and yet on a p/e around 15 at 240p.

RFX is imo in the retail space, although much smaller.

[tp6] 03/12/2019 11:24

As well as ramsdens being well run and showing solid sensible growth, their competitors keep getting themselves in trouble. Really good potential for 230p + here..

[rivaldo] 03/12/2019 11:00

Good results. I've bought some more.

Liberum have indeed retained their 248p target, and their 20.6p EPS forecast for this year.

They note that stripping out the cash pile, RFX are on a current year P/E of only 8.2.

All divisional forecasts are increased or unchanged, except that foreign exchange has been trimmed slightly due to Brexit uncertainty etc.

Given the strong FX performance in H1, and the very confident outlook, I suspect that ceteris paribus the actual results will be at the top end of expectations at worst or perhaps decently ahead.

[qs99] 03/12/2019 10:15

yes, note to self, don't get annoyed haha...putting the joss sticks on now to calm my impatience mate

have a good day

[lammylover] 03/12/2019 10:10

It seems anything less that "the board are pleased to announce"(i.e. higher than expected results) gets hammered on the RNS day, so I'm not surprised. Will take a week or so before moving up to 210p+ when people cotton onto this share; the results and potential through some good media coverage.


The market transfers money from the impatient to the patient - W.Buffet

[qs99] 03/12/2019 09:25

OK I'm a holder, but market reaction seems v. muted

[qs99] 03/12/2019 09:08

I also like a relatively quick XD date. I have seen companies take 3 months ffs!

Their interest bill should go down as borrowings are repaid, helps a few hundred k

I would like to know why Admin costs are up from c.£11m to c.£14m in H1 seems chunky?

In case anyone from IR team are on or people are listening in to results

[qs99] 03/12/2019 09:04

Thanks LL, not sure why Liberum haven't upped target price IMO but there you go....

[lammylover] 03/12/2019 08:59

Agree QS, making good, steady progress. I like the fact that their growth plans are realistic. Not trying to become the worlds biggest pawn broker / FX / watch seller; just nice and steady.
Incidentally the house broker Liberum Capital reiterates BUY rating, with target still 248p. Rich

[qs99] 03/12/2019 08:52

haha, good LOL! Wasn't meant to be an aggressive "why"......totally get first stop etc, but this valuation IMO now just looks odd. Management are delivering well IMO

[lammylover] 03/12/2019 08:46

250p its just my personal target. Will review / adjust my target price when we get there....LOL Rich