johnrxx99

17/10/2024 06:16

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Looks like to CFO may have been pushed. He says " I've enjoyed my time with the Group but now is the right time to start thinking about my next executive role."

johnrxx99

17/10/2024 05:54

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Sorry, changed my mind.

johnrxx99

17/10/2024 05:53

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Sorry changed my mind

johnrxx99

17/10/2024 05:20

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I think this diserves a new thread. If your interested I'll post the link soon.

Cheers.

castleford tiger

12/6/2024 06:33

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another cut in PBT.
#
As i said back in March see above

Net bank debt at the end of the period is expected to be £165-170m (total facility size £250m)

This is costly and as most customers pay some or all of their invoice BEFORE getting the goods, and certainly before DFS have to pay for them.............they should be net cash.

Like a travel company you pay well in advance of those costs hitting the business.

Share price looks too high for me as the only thing improving is the LFL figures which are now compared against very much weaker periods.

Big ticket items are still very much in the doldrums.

tiger

castleford tiger

19/3/2024 14:52

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Strip out intangibles and this is short of cash

tiger

castleford tiger

19/3/2024 07:13

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BIG WARN i think 90p open?

castleford tiger

18/3/2024 21:42

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Tomorrow results

castleford tiger

24/10/2023 10:02

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out all of them at 1.11

13p in 10 days will do for now

dan_the_epic

24/10/2023 06:49

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Brother SCS acquired by big European sofa company at a fat premium today.

castleford tiger

13/10/2023 11:05

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in for a large chunk under 100p

tiger

strollingmolby

11/10/2023 08:33

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That spike at the end of July seems a long time ago now...

deadly

27/7/2023 15:15

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...and up another 9% today!?

strollingmolby

27/7/2023 08:39

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Yes, that was quite the jump at the end of day yesterday.

Poor results elsewhere from HEAD and SFE today, for their big-ticket items. SCS is down 2% in sympathy...

deadly

26/7/2023 15:42

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7% rise at the end....something afoot?

strollingmolby

18/7/2023 11:56

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Agree with all of the above, DFS is having to service a higher debt now, possibly at higher interest rates (I haven't checked). The lending bank/s must be comfortable with DFS' definition of EBITDA though for the 3x debt/EBITDA covenant - we'll see...

Undertaking a £27m buyback and paying a £7m interim divi does seem reckless in the circumstances, though presumably the buyback won't recur this year given the level of debt.

Interesting that the price slid back after the buyback ceased in January, after lifting the share price from 110 to 150+. Am seeing the same at IAG now, though that has only been a week.

I also noticed DFS stated it would pay out a special divi under the terms of its new capital distribution policy if average net bank debt remains below its target leverage range for a sustained period - which is quite optimistic!

fevertreeman

04/7/2023 10:55

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StadiumCapital is a value investor and no coincidence in my mind that they see value here now. Debt is still too high, and trading must be weaker than when they cut forecasts in March. Not a happy scenario: consumer under pressure with more interest rates likely meaning winter selling season may be tough and inventory could be an issue. Debt remains too high etc etc etc

castleford tiger

21/6/2023 12:30

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higher interest rates will not help.

tiger

maverick67

20/6/2023 20:17

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Maybe you are right? £1.00 is getting closer

castleford tiger

17/5/2023 17:02

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I feel sure this is going sub £1.

The chart looks awful

tiger

castleford tiger

16/3/2023 12:25

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cant disagree with much there