Colefax Share Discussion Threads

[essentialinvestor] 03/12/2022 14:21

Bid dropped to £6,20 so a gargantuan % spread now.

CFX might be available on the offer under £6.40 on the next update in January.

[essentialinvestor] 26/11/2022 14:49

There looks to be a big seller ATM.

[rambutan2] 25/11/2022 04:50

Answered my own query:

1)

2)

3)

4)




Noted in FT last week:

[salver2] 27/1/2022 08:27

Stinking results-far too cheap

[salver2] 12/8/2021 07:27

Looking very undervalued here with excellent results -staggering though they don’t pay a dividend with nearly 20 million cash on board !

[essentialinvestor] 26/4/2021 16:32

Another tender offer on the way?.

[salver2] 14/9/2020 08:55

Not bad results in the circumstances - can’t see why such a cash rich Co is not paying a dividend ( although their dividend has always been miserable ) - a They should use their cash for more buybacks

[salver2] 21/2/2020 19:30

Looks like a buyback of 270000 shares

[essentialinvestor] 28/1/2020 11:07

I posted the very large amount of shares you could buy online recently
and that was perhaps a large clue of what was to come.

[my retirement fund] 28/1/2020 10:59

Don't forget the currency advantage either. Strikes me there is something seriously lacking in the companies competitive advantage to be unable to grow. It may be a well run ship but one that has no competitive vision. Not wanting to be negative but that sums it up. No wonder the share price is well discounted.

[robf193] 28/1/2020 09:56

The transaction taxes on high end US property has certainly curtailed the number of transactions in recent years, and Colefax historically see much of their business when people are moving house. I'm sure as this gets factored into property prices activity will normalise, with hopefully an upturn in the UK market happening alongside this

[salver2] 28/1/2020 09:48

Yes it does seem odd but actually I think houses in America are getting a little smaller less fabrics are used and millennials have different buying patterns - ifitsnot a handbag watch holiday car boat designer brand they don’t want it - I’m a dealer in traditional antiques I won’t let on but the clue might be in my handle and I can buy certain things that were once the price of a London flat in the1960s for about 1000 to 2000 pounds- I bought something last week that sold at Christie’s in 1968 for 2000 pounds for 1500 pounds - keep in mind that someone paid the equivalent of 30 to 40 thousand originally

[essentialinvestor] 28/1/2020 09:31

What strikes me is the rich in the US have never been richer.
The US bull market is unparalleled in duration.
Trump has introduced huge tax cuts for the Uber rich.

With the US being their largest market, business should be booming.

Can appreciate the UK pre election would have been considerably more difficult
to navigate.

[salver2] 28/1/2020 09:07

I imagine they’d be delighted at a nice price like 3.50 they would be able to buy back more than a third of the co and still have spare cash

[salver2] 28/1/2020 09:07

I imagine they’d be delighted at a nice price like 3.50 they would be able to buy back more than a third of the co and still have spare cash

[robf193] 28/1/2020 09:03

Considering this covers the 6 months to the end of October, which was probably the height of political uncertainty in the UK and US, to have EPS of almost 24p is a fair performance, and by their standards the outlook statement is reasonably positive. Even if you assume 2nd half earnings being flat the P/E is 8.5x at current price. Factoring in £11m of cash and no debt at a mkt cap of £35m, how on earth do you arrive at £3.50 (mkt cap would then be £31m)!?

[salver2] 28/1/2020 08:36

Whilst I don’t disagree about the relatively poor results this is unlikely I think to fall to 3.50 barring a further detereation in conditions -the market cap of the co is about 36.3 million -I don’t know why advfn state it at around 60 million - don’t forget the co has over 11 million cash which is almost a third of its market cap - stripping away the cash the P/E ratio is only in the 8 to 9 region - I would actually on that basis for a luxury co regard it’s value as probably a tad too low notwithstanding the headwinds!

[essentialinvestor] 28/1/2020 07:55

Very poor results, fair value around £3.50, barring a bid?.

[essentialinvestor] 17/1/2020 12:08

Last day of their sale, from memory I saw it advertised as a one day event,
however it appears to be over two days.

[salver2] 16/1/2020 12:54

Interesting - it must always be kept in mind that David green the majority shareholder is nearly 74 and what are his succession plans

[essentialinvestor] 15/1/2020 14:07

Hi salver, tried a dummy trade this morning and was again offered up to 10,000 shares at 4.345, you could sell approx 1000 for about the same price.
Those figures can alter in an instant so a snapshot at that exact time Only.

[salver2] 14/1/2020 23:17

Interesting that you can buy as much as 40 k - unusual for this co especially as the share price has been flat to rising as of late - I’m not sure where the company is going - more buybacks a takeover - more of the same - a minor profit warning all things are possible - we shall see soon