Card Factory Share Discussion Threads

[casholaa] 23/1/2024 12:22

I suppose, if they could come up with the £19m for Tranch 'B' and squirrel it away in a bond or investment, they could offset some of the interest-hit they take annually until Tranch 'B' is to be repaid???

[casholaa] 23/1/2024 00:00

"The Group's banking facilities, when agreed in April 2022, comprised term loans of £30 million (Term Loan 'A' of £11 million and Term Loan 'B' of £19 million), CLBILs of £20 million and a Revolving Credit Facility (RCF) of up to £100 million."

CLBILS gone as far as I understand it. Tranche 'A' in 9 days? The rcf is just that. Tranche 'B', I have no idea what they'll end up doing with that, I suppose it depends on whether there are any early repayment penalties??

So in my view, 31 Jan is the magic date. They spent £11.4m on interest 2022-2023.

[casholaa] 22/1/2024 23:46

2023 annual report/accounts - "The revised facilities comprised term loans of £30 million, CLBILS of £20 million and an RCF of £100 million. The CLBILS are subject to an amortising repayment profile with final maturity in September 2023. The Term Loans are set in two tranches, both with an amortising repayment profile. Tranche ‘A’ has a final maturity in January 2024 and Tranche ‘B’ is coterminous with the RCF in September 2025. The interest rates applicable to each facility are set out in note 17 to the financial statements."

[casholaa] 22/1/2024 23:35

Perhaps 'flat' is the wrong word. We want to see Tranche 'A' gone. I think that the magic date is whatever rns or update we are given on or after 31 Jan 2024 (9 days from now).

Look at 3rd May 2023 rns:

"The Group remains prohibited from making distributions under the terms of its financing facilities until such time as the CLBILS and Tranche 'A' of the term loans are fully repaid. Accordingly, there were no dividend payments made in either the current or the preceding year.

The final maturity date for tranche 'A' of the term loans is 31 January 2024, and accordingly the earliest that dividend payments will be considered is during the FY25 financial year. Subject to continued financial performance in line with the strategic plan, the Board envisages recommencing dividend payments at a level of 2-3x dividend cover based on profit after tax, subject to a Leverage ratio assessed across the financial year of not more than 1.5x (excluding lease liabilities) being maintained after the distribution is made."

[bbonsall] 22/1/2024 22:14

This level of increase ror the next two years will allow CARD to hit its target turnover of £650 million and £90million PBT.
The market has to wake up sooner or later.

[bbonsall] 22/1/2024 22:10

I don’t know why anyone keeps saying results are flat overall. We have been told profit before tax will be near to £62 million. Last year it was £52 million.
An increase of 20% is what I call an excellent performance, hardly flat!

[casholaa] 22/1/2024 21:47

The expectation that the debt threshold will be met even if results are flat overall.

[casholaa] 22/1/2024 13:51

I think it'll be sooner than that.

[grahamytrain] 22/1/2024 13:22

It’s imperative they have an RNS between now and final results. Imperative for the share price to increase that is. Rerate coming in next few months. Fingers crossed.

[thomasearnshaw] 21/1/2024 19:59

Pumped dumped and sheeples out at bottom

[elsa7878] 21/1/2024 19:31

Sales viewed in light of the 3.2% December drop in overall retail sales is particularly impressive. Look forward to a warning from Moonpig or at least relative underperformance and I think this will rerate.

[bbonsall] 21/1/2024 16:24

I wouldn’t be surprised if CF issues an RNS at the end of the month confirming repayment of final instalment of Covid loan.
Then it might mention dividends that some have criticised CF for not mentioning in the trading update.
Just remember CARD share price has been £4 in the past when its EPS was not much more than it is now. No more shares are in issue now than were in issue then either.
This deserves a serious re-rating IMHO.

[harry_david] 21/1/2024 10:54

Most of us have done really well in this stock and in my view it should go further as trading continues upward. It is though only a retailer so I don't blame anyone taking a profit especially when it could well be over 100%.

[ayl30] 21/1/2024 05:57

See post 5753

[melody9999] 20/1/2024 23:24

CR might draw your attention to a stock to research and enter. Just don't rely on him to tell you when to exit!

[ayl30] 20/1/2024 15:08

I get annoyed by peeps who berate CR for every share they buy that does not double. If all they do is to follow CR with no evaluation of their own then they really shouldn't be investing. If they do want to they should buy a world index fund, at least they will get all the up days and have no one to blame for the down days, that could also then spend more time like an ostrich with its head in the sand

[eeza] 20/1/2024 13:36

Well he stated that his position had grown to 30%.
Then he posted that he had reduced to 20%.
Then posted that he had reduced further to 10%.
Now has posted that he has sold most, and retained a small %age.
He posted his reasoning at each stage.

Do you expect him to tell you in advance of buying, or selling?

[casholaa] 20/1/2024 13:32

I like reading write-ups but I don't have time to spare to hunt out and read them. It's good to see what others think to compare with one's own views about the market and about individual companies. Occasionally I see that I've not thought about something obvious or that just below the surface and not obvious to me. I liked reading CR's article, but I don't think that pensioners are likely to go on a spending spree.

[dan_the_epic] 20/1/2024 13:24

just because the government decided to give the contract to PPE Medpro, mone and husband, it does not mean they lacked serious moral compass in what they were doing

talking about CARD for weeks and weeks and selling down and only telling us later after they report a trading update and the stock is falling and he has hardly any position left

NOT best practice. AT ALL

i am smart enough not to buy any stock just because someone is talking about it. But think about Joe Bloggs who trusts these people. People actually lose money and livelihoods from this.

Their interests are not always aligned, if ever.

You can blame the individual for following advice and not having good financial knowledge. But you should also blame those that do not operate in best practice or transparency.

we can live in a world where you can blame the individuals. But I like to strive for better and blame those that can, know and SHOULD DO better.

[napoleon 14th] 20/1/2024 13:12

I read CR's output regularly. It's honest, and prone to error like any human.
He 'fessed up on WOSG - I avoided that one - but we all have them.
What makes no sense is how peeps forget they are supposedly responsible for how they make their own decisions. Reality is all in the first para of his Weekend Rebel Review. If you've read that, there's nought to say.

I'm still in CARD in a minor way, & I can't say they're overvalued.
Waiting for further news & maybe a divi soon.

[casholaa] 20/1/2024 13:04

Blimey, CR! What's with the view on pensioners spending money? "April sees pensioners get a 10% rise in pensions when inflation will be way lower, this may boost retail in May and going fwd." Their increase for pensioners is effectively about a year post facto and they also suffer the usual decrease in the buying power of money. The triple lock is supposed to help pensioners not slide slowly into oblivion like many years ago when they'd be eating catfood.