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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Alexandra | AXD | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 5.00 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 5.00 | 5.00 |
| Top Posts |
|---|
Posted at 12/11/2009 18:28 by arthur_lame_stocks I can see a number of possible scenarios:1) a full offer for the company at a premium to the current price. I don't see this as impossible, 40p a share would only value the company at about £13m and with a further injection of perhaps £10m equity and the sale of the surplus property for a further £15m a purchaser at this price could have a company which was making operating profits of £6m a couple of years ago for about £23m and virtually debt free. 2) a rights issue. I would probably buy mine if offered as I think this is a good recovery play with substantial upside, but the balance sheet weakness is holding the price back. Again perhaps £10m from the rights and £15m from the surplus property. 3) a fund raising at a discount from one major investor. I think this would have to involve the management and would probably mean the rest of us getting shafted. Anybody have any opinions on any of the above scenarios? |
Posted at 10/8/2009 12:32 by onehandeconomist TBF - are you alone in here? It's a wafer thin market - market trades 30k penny shares and the price jumps 20%. But it does look like a good story. Only qu is a lot of management change recently - having radically restructured the company in recent years, what's the new team to do. Note also that a huge chunk of the shares were bought by a private investor who just happens to be in the trade earlier in the year. DYOR of course but sumat's going on methinks. |
Posted at 03/6/2009 10:43 by gingerplant This company is weathering the economic storm admirably -- but its performance isn't reflected in its share price.There are several companies around which have put in excellent performances despite the severe downturn; yet the market has still slashed the share prices. Corporate uniforms and workwear supplier Alexandra (LSE: AXD), is one example where not a huge amount has changed other than sentiment -- or so it would seem. But the share price is a fraction of its former value. Feeling the pinch Under its slogan, "clothes that mean business" Bristol-based Alexandra supplies all manner of corporate clothing and accessories. And the company is feeling the pinch. Almost all its products are sourced from overseas suppliers and priced in US dollars. The dollar's 'safe haven' strength of last year did nothing to help Alexandra's performance. And the overall recession has seen companies cutting costs and deferring purchases wherever they can. So it's not surprising that the company's final results for the year ended 31 January showed turnover down on the previous year. But it was only down by 3%, whilst operating profit came in at £6.1m, compared to £7.0m the previous year. This was an excellent performance in the circumstances. The big question for potential investors is whether those circumstances look likely to reverse. If so, today's price of 29p, which values the company at just £9.7m, looks very tempting indeed. After all, a year ago, the market saw fit to value Alexandra at three times that level. Fighting back The company's management has taken measures to combat its difficulties; hedging the dollar and completely restructuring the business to safeguard future profitability via a plan announced at the interim stage. One of the main factors that hurt Alexandra's value last year was its debt level. Net borrowings of £25.5m are high in relation to the company's valuation today. But it wasn't so long ago that debt to fuel expansion and ensure healthy cash-flow wasn't the unmentionable four-letter word it has become over the last 18 months or so. Also, the overall net asset value of over £32m and net tangible assets of £22.7m offer some downside protection. Interestingly, the tangible assets include the freehold to a factory site in Uddingston, Scotland of seven acres. The intention is to seek planning permission as a food retail site. An independent valuation of the site has indicated a market value of £10m, rising to £15m if permission is won. This could take a big chunk out of the debt. The future The broker predicts earnings per share of 8.3p for next year, which puts the shares on a forward price-to-earnings ratio of 3.5. This is extremely cheap, of course, if it comes to pass. But it would look positively pessimistic to me, based on any kind of sustained recovery. The new chairman looks like he means business. He's certainly made changes so far, easing out the previous CEO and Finance Director, cutting costs and positioning the company for the future. The chart's fairly horrible, unless you managed to buy in March or early April. Yet this isn't really reflected in the results so much as the perceptions. Taking a wide-angled view of things, turnover and operating profit have been fairly consistent in recent years. It just goes to show what an important role sentiment plays in share price movement; manna from heaven for the value-hunting contrarians amongst us. Alexandra could easily be a multi-bagger from this level, in my opinion. The shares went over 175p three years ago. It could easily happen again given a fair wind and a shift in sentiment -- but it may take time, and it could get cheaper first. |
Posted at 04/4/2008 12:08 by sscrabble I spoke to them yesterday - they have had two big overhangs of stock (over 4 million shares out of 33 million total )that are now nearly cleared - one was a private investor who died and held 3% of the shares ! - so when thats cleared we should see the rise back to where they should be - get in now while you have the chance! |
Posted at 27/4/2004 10:39 by ydderf But you can hardly deal in them, market size is 5k and a market size deal moves the price - wast of time for a serious investor, how can you make serious dosh playing around in the sand-pit crookney? At Last night's close they were cheap and at 97.5 they are fairly priced on an historic pe/ of 11 and maybe forward one of 9-10.......... |
Posted at 08/10/2003 22:20 by supermum I'm a trader, not an investor. I'll be here until the resistance or the momentum drops. I ALWAYS have a min of a 10% target.SM |
Posted at 08/12/2002 15:01 by doubleorquits Nice article and tip in Sunday Mail Midas column today:Packed with promise Midas, Mail on Sunday 8 December 2002 N falling markets, dividends* can become increasingly attractive to investors, and uniforms-to-corporat At its interim results in October, Alexandra declared a 1.6p interim dividend and said it expected to be able to make a final payout of 3p, making 4.6p for the year. With Alexandra's price closing at 63 1/2p, the shares offer a promised annual yield of 7.2% and a respectable 4.7% based on the final payout. The 4.6p dividend would be unchanged from last year, but that was cut from 8.1p in 2001 when Alexandra ran into problems due to the high cost of manufacturing in the UK. In the past two years, the company under chief executive Julian Budd has restructured, quitting UK manufacturing. It now imports about sevenm garments a year. The benefits of that restructuring began to flow through at the half-year with profits up 9.4% to £1.56m and operating margins ahead from 5.5% to 6.1% helped by reduced costs. Alexandra is the UK's leading supplier of professional workwear, including uniforms for nurses and prison officers, and corporate clothing with customers ranging from transport firm FirstBus to Warner Village Cinemas. The company has three core business areas - sole-supplier corporate accounts; other corporate customers; and a mail-order and retail division with 17 shops. Based on forecast earnings per share* for the current year of 8.1p, the shares are trading on a multiple of 7.8, dropping to 6.1 on next year's earnings forecast of 10.4p. It also has that attractive-looking dividend yield, but as a recovery play, Alexandra is still not a share for the weak-hearted. The biggest worry is its debt, which peaked at £24.9m at the interim due to increased stocks ahead of new contracts. That compares with its market value of £21.5m, though interest payments were covered 3.5 times by earnings at the half-year. Budd is focused on reducing debt with some help from property disposals and improved efficiencies from cost-cutting and a new computer system. Midas verdict: The market is waking up to the recovery potential of Alexandra whose share price has enjoyed a sharp rebound after reaching a low of 37 1/2p in September, but there should be more to come. The financial ratios in terms of earnings multiples and yield are compelling, but the debt situation means there is still much to prove, though Budd has set a target of cutting it to £ 22m by July next year. Progress reducing this will win Alexandra more support and for now it rates a speculative buy. |
Posted at 10/12/2001 16:32 by honiton I need to do some more research. haven't got time whilst still at work.In particular, we need to look at:- Who are the major shareholders. What are the EPS and forward PE forecasts What are the potential synergies What is the likely take-out price. I'm a very cautious investor, so I don't invest until I have a lot of facts. However, I like the look of this company's fundamentals and their position. If you give me your e-mail address I will e-mail my research to you tonight. Kind regards |
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