Crawshaw Share Discussion Threads

[chrisis33] 04/7/2013 21:26

Thanks Battlebus ... I've replied

[battlebus2] 04/7/2013 20:50

Yep, sent you a note chrisis33.

[chrisis33] 04/7/2013 20:13

The bid at 4.15p is close to mid-price, and the actual spread at around 10% is much less than the published spread. If I were a cynic I'd say the MMs don't want buyers at the moment, and are looking to attract stale sellers.

I was expecting an ex-dividend effect here, but given the director buying at 4.75p, it's a surprise one can still pick stock up at less than he paid. Particularly given the very upbeat trading update within the AGM statement.

[battlebus2] 04/7/2013 20:05

Yes very thin trading now but that is quite normal for this share, looking at the price paid for 10k today no one will be getting any cheap stock and the bid is still well over 4p.

[chrisis33] 04/7/2013 19:31

Very thin trading at present, just one small buy over recent days ... but very happy holding on the basis of recent newsflow.


FINAL RESULTS - April '13:
Outlook
The retail climate remains challenging; however I am encouraged by the continued improvements in trading over the first 12 weeks of the current year. Like for like sales are ahead and we are particularly pleased with the further increases in gross margin and improvements in cost we are achieving.

AGM STATEMENT - June '13
"At the end of April this year I stated that I was encouraged by trading over the first 12 weeks of the current year. I'm delighted to report that since then our performance has strengthened further and that I'm particularly pleased with the progress being made for the current year thus far."

25 JUNE - Director's Dealings
Crawshaw Group plc (the "Company") (AIM: CRAW), announces that on 24 June 2013, Mark Naughton-Rumbo acquired 104,456 ordinary shares of 5 pence each ("Crawshaw Shares") representing 0.18% of the total voting rights in the issued share capital of the Company. Mr Naughton-Rumbo does not hold any other Crawshaw Shares.

...

A bit of a wait likely till half year results around the start of October, but sounds like all's going nicely at the moment.

Incidentally, my local ASDA has now introduced self-labelling of fruit and veg, and replaced 1/3rd of it's manned check outs with rows of self-serve aisles. Crawshaws' level of service a key competitive advantage versus the soulless supermarkets IMO. To this end, it was great to hear how good the atmosphere was in the Rotherham store.

[chrisis33] 03/7/2013 10:03

Indeed, another plus ois that it makes CRAW a possible investment for those wishing to invest in a dividend paying microcap with growth potential, within the tax haven of the ISA wrapper. So our market for potential new investors will be larger. That;s my logic at least.

[battlebus2] 03/7/2013 07:43

Yep tax free dividends, gonna take a few years to get our allowances in there :))

[chrisis33] 03/7/2013 07:40

Especially good news for divi paying AIM shares, I'll be transferring in this year's allowance :)

Also good news on the weather front! The performance YTD sounds very encouraging - and that's despite shoddy weather.

[battlebus2] 03/7/2013 07:30

Yes 30 degrees on the chart for next week. About time AIM had the ISA, great news.

[playful] 03/7/2013 07:24

Aim shares are to be allowed in Isas from the autumn means that investors will be able to hold shares in a way that is free from income, capital gains and inheritance taxes.

hxxp://www.hl.co.uk/news/articles/treasury-confirms-aim-shares-will-be-available-in-isas

[playful] 03/7/2013 06:23

The BBC is predicting a heat wave over the coming weeks, so let's hope we have all the shops supplied with enough BBQ packs to meet demand.

[chrisis33] 02/7/2013 22:24

Weird ... I've never had the problem with posting http links. But thanks Playful, I also found the Leeds kirkgate article interesting.

[investali] 02/7/2013 21:57

That is funny i wasn't sure how to read these items. Why has it changed to xx?

Not many trading their shares this week. Only three weeks to that dividend.

Ali.

[playful] 02/7/2013 21:50

Much appreciated. I like the story on Leeds Kirkgate market (for the less internet savvy you need to substitute the xx with tt)

hxxp://leeds-list.com/butchers-row-straight-from-the-horses-mouth/

[chrisis33] 02/7/2013 20:27

Some industry news links to share

hxxp://m.lep.co.uk/news/business/quality-counts-as-region-s-butchers-beat-latest-scare-1-5815597

hxxp://leeds-list.com/butchers-row-straight-from-the-horses-mouth/

hxxp://m.rugbyadvertiser.co.uk/news/features/it-s-boomtime-for-butchers-1-5235418

[chrisis33] 01/7/2013 11:33

Thanks Playful. I checked the AIM rules too, and it would seem to be the case. I was just contemplating whether there may be more director purchases, or whether they are now unable to buy.

[playful] 30/6/2013 23:38

Chrisis33, I seem to remember the closed period starts two months immediately preceding the announcement of the company's annual results

[chrisis33] 30/6/2013 15:07

Yes Battlebus, simply better value for money IMO. As we know, small improvements in performance can make a big difference to the bottom line here due to the low market cap to turnover ratio.

A 10% increase at the topline is £1.88m in extra revenue per annum. At 44% margin, that'd be an extra £827,000 pretax profit, taking pbt well over £1m.

I'm not suggesting we'll see a 10% revenue aimprovement this year. I'm trying to demonstrate the leverage to margins and topline revenue that comes with a near £19m turnover and a c.£2.5m market cap.

Whilst we don't have any figures yet for LFL sales YTD etc, we know they are better. And we can read between the lines of the positive tones in the RNS - and in particular the director buy at 4.75p

Does the closed period for director buying start at half year end (end July?)

[battlebus2] 30/6/2013 13:29

Yes i tend to agree chrisis33 the horsemeat scandal has long passed but shoppers are still coming to Crawshaws because it's simply better!

[chrisis33] 30/6/2013 13:23

Just reflecting on last week's news... the latest broker forecast is from April, and the forecast has CRAW on a forward yield of 6.3% and a forward p/e of 8.2.

The AGM statement last week that trading has improved further, coupled with the director buy, points to value here IMO. A welcome aspect of last week's statement was that it suggests to me that CRAW's improvement in trading has more longevity than a one-off boost driven by "horsegate"?

[battlebus2] 27/6/2013 08:06

R.R's other company ANP also throwing off cash now 5.2 million on the balance sheet.

[battlebus2] 25/6/2013 22:08

Thanks for that link playful i've just listened to a masterclass on investing.
Similarities with Crawshaw are the high yield low P/E and he likes the directors to have a decent bought stake in their companies.I loved his analogy with golf! As he says the big money is made staying long term which proves a point here as we could have thrown the towel in and walked away with heavy losses, now i feel confident the team can continue on the recent trading success for a few years to come. Definitely a book to buy.

[chrisis33] 25/6/2013 22:03

A terrific interview. Thanks Playful. CRAW seems to tick all the boxes he mentions in terms of the stocks he'd be looking at buying right now.

I'm going to find out more about him. Obviously knows his onions.

[wolterix] 25/6/2013 21:40

John Lewis

[battlebus2] 25/6/2013 21:17

Very true playful, my view is exactly the same this is a major part of my pension plan now so i can't envisage me selling for many years to come. I was always a big fan of John Lee and still hold some of his recommendations ESR QRT FSJ, his column and investment style are badly missed imv.