Brown (n) Share Discussion Threads

[transhoneyqueens] 21/5/2021 09:48

glad I sold out last wee at 75p .

[currencytrader1] 21/5/2021 09:26

Where's this going now? The 57p placing value is my guess??

[currencytrader1] 21/5/2021 09:25

You need subscription.
Basically they said that it took them a day to understand the accounts, and couldn't understand why they were so far behind their competitors.
They feel it could potentially make a good turn around in a few years.

[hey_arn0ld] 21/5/2021 09:16

where abouts can i find the stockopedia write up, i couldnt see it. thanks

[transhoneyqueens] 21/5/2021 09:13

at this rate we we be taken private at 70p lol

[martinc] 21/5/2021 08:50

Not a tip, but there was a very good write up yesterday on stockopedia for anyone who wants a summary of the company's situation.

[john09] 21/5/2021 08:27

Maybe not lol

[john09] 21/5/2021 08:04

Have we been tipped somewhere ?

[boystown] 20/5/2021 22:47

Worth over a quid imo.

[simmsc] 20/5/2021 22:43

I'm more obsessed with Reach if i look at my portfolio :)

[sidam] 20/5/2021 22:27

Rimau1
Sorry, but you are wrong. Capital expenditure is not deducted before arriving at profit. It is a balance sheet item not a profit and loss item. However the difference between cap ex and depreciation effects cash flow.

EBITDA is earnings before interest, tax and depreciation - there is no cap ex in the calculation.

[simmsc] 20/5/2021 20:41

Bwng (i hold) and Shoe (i hold) are in similar situations. Lacklustre trading update -> price drops -> owners mop up lower priced shares. On Shoe someone potentially bought 18 percent of the company today (who it was we will find out tomorrow or Monday). Similar thing could happen soon on BWNG (large share purchases). Low risk easy money (that's how i see them both).

[jackson83] 20/5/2021 19:16

this will be taken private this year.

[davebowler] 20/5/2021 16:03

SCSW tweet-#BWNG EBITDA of £86.5m in a CV19 year.A year when most retailers like Ted Baker lost money. Expected to make £93-100m this year.More social media, build out home range, accelerating cust acquisition. share price down on RNS which is a blunt instrument for Alliance family to mop up more?

[rimau1] 20/5/2021 14:10

Sidam - i was referring to 2022 guidance. Ebita £93-100, capex £30-35, depn £40, interest £16m. I was surprised taking the low pbt of £7m

[sidam] 20/5/2021 12:56

Rimau1: The company should make an adjusted profit before tax this yeae. Guidance EBITDA 100m, less 40m amortisation and 16m interest leaves 44m. That is top of range, bottom is 7m lower or 37m. So my normal measures the company is expected to be profitable and with a possible dividend.

[dr biotech] 20/5/2021 12:53

They are welcome to them. They are effectively the owners and will now run it for the benefit of the alliance family, which is of course what they are entitled to do. Just don’t see it as an exciting investment. Good luck to all that hold, I’ll keep it on my watch list and follow their rankings.

[transhoneyqueens] 20/5/2021 12:51

hopefully they will take it private this year at 90p

[john09] 20/5/2021 12:40

I imagine the owners just bought your shares Dr B

[dr biotech] 20/5/2021 12:38

I’ve just sold out. Other online retailers have done well during lockdown, but the best they managed here was a slower decline. The forward looking guidance indicated modest growth if things go right over the next 12-18 months. I don’t believe they are under promising as guidance for these results was accurate (as it should be).

Can’t argue that the alliance family haven’t put their money where their mouth is, and I think they are going to run this prudently, pay off debt before dividends and not gamble on a big marketing spend to chase growth.


The rankings of their websites rankings have fallen over the last few months. If they pick up then it may indicate something more promising, but that will take some time

I think the high street is pretty much a spent force, so coming out of lockdown won’t help.

[john09] 20/5/2021 12:10

The bad debt provision is a revision down of an existing one correct Zho .

[transhoneyqueens] 20/5/2021 11:59

buy the dip and an easy 10% soon

[zho] 20/5/2021 11:55

>>(3) new £15m provision for bad debts>>

Is it a new provision? I thought it was, but a question from an analyst in the webinar suggested otherwise, as does this text from the results statement:

"In the first half of the financial year and in accordance with IFRS9, the Group increased the impairment provision by GBP17m to reflect future expected credit losses as a result of the impact of Covid-19 and payment deferrals. At the end of FY21 the impact has been reassessed at GBP15.4m."

[rimau1] 20/5/2021 11:44

There are a couple if other concerns here too. (1) FY22 guidance of ebita, adding back the interest and amortisation and the business still won’t be making a profit. (2) the allianz financial products litigation which is so uncertain regarding outcome they have not got a provision for it. (3) new £15m provision for bad debts. I’m ok with net debt because it simply relates to the loan book in the financial division. No position here i just took a look this morning.