Thanks mpage
Strange they didn't say that in the update :)
Sp seems to be range bound which is good for trading especially if you expect the range break to be northward |
 Agree looked weird at first glance. But capex into the estate comes first. And ord dividend payout ratio now set at 50% PAT (see below from 202 annual report).
For FY2022 ord DPS 11.53p, basic EPS 21.91p = 52.6% payout ratio
From today's TS interim div 3.27p+ 7p min = 10.27p which, at 50% payout, implies minimum basic EPS of 20.5p for FY2023.
FT consensus of 7 analysts before today's TS: FY23 DPS 12.47p. FY23 EPS 20p (range 17.9p-21.9p)
My guess is they are being clear about ord div payouts and tilting the capital allocation policy to clarify trade off between capex and any special divs. Seems fair enough. It was a good TS - EBITDA growth expected to be ahead of market expectations.
P44 of the FY2022 annual report shows the overall capital allocation policy.
Dividend and capital allocation policy
The Board has declared a final dividend of
8.53 pence per share, based on an adjusted
profit after tax of £39.4m (adjusted earnings
per share of 23.07 pence).
Given the Group’s strong liquidity position,
the Board has reviewed its capital allocation
policy with the priorities for the use of cash
as follows:
• Capital investment into the existing
centres through an effective maintenance
and refurbishment programme
• Investments into new centre
opportunities, including expansion in both
the UK and Canada
• To pay and grow the ordinary dividend
every year with a payout of 50 per cent of
adjusted profit after tax
• Any excess cash will be available for
additional distribution to shareholders as
the Board deems appropriate, without
impacting on our ability for investment in
the growth of the business.
The Board believes that setting a proforma
net cash to Group adjusted EBITDA
pre-IFRS 162 ratio target (net cash ratio
target), provides a good guide for the future
allocation of surplus cash within the
business. The Board has set a net cash ratio
target of 0.5 times and will look for this target
to be achieved by the end of FY2025, as set
out below.
• End of FY2022 0.600X
• End of FY2023 0.570X
• End of FY2024 0.535X
• End of FY2025 0.500X
In line with this strategy, the Board has
proposed a special dividend of 3.0 pence
per share be paid to shareholders alongside
the ordinary dividend of 8.53 pence per
share, bringing the full year dividend to 14.53
pence per share. |
Maybe but it is a wierd thing to say.Because of our great performance our divi will be at least ........... So the minimum is 1.5p lower than last year |
Dividend Word play ???
'
The Group expects to declare a final ordinary dividend of at least 7 pence per share as a result of its strong financial performance and strategic execution
'
Last Year
'
XD 2nd February 2023 Paid 24th February 2023 8.53p Final
XD 2nd February 2023 Paid 24th February 2023 3.00p Special |
Interesting that they are forecasting a minimum divi that is a cut on last year |
Trading Statemeent OUT which, on first reading, looks excellent
'
Extracts .
Strong customer demand driving excellent financial performance
It has been fantastic to see so many families in our centres as they sought out fun, inclusive, affordable activities to keep their kids entertained throughout the year including during the unseasonal wet summer.
Total number of centres in the Group to 80 (UK: 71; Canada 9) |
More important the Trading statement due Week 2 in October. That will be the trailer for the annual results |
Upcoming Events for BOWL souce Stockopedia
Thursday, December 14th 2023
Full Year 2023 Hollywood Bowl Group PLC Earnings Release |
We'll, that was nice ? |
TEG results out today, not inspiring. |
This is wierd
Little news, unremarkable volume and a 5% spike
Still my kids will be really happy thi is half of their JISAs for this year. The other half is in Kier from 64p
If their Dad had dome that with his SIPP he would be in Florida fishing |
Is Hollywood Bowl Group plc (LON:BOWL) Trading At A 28% Discount?
Simply Wall St
Tue, 19 September 2023 at 7:59 am BST
In this article:
Extracts
BOWL.L
+4.13%
Key Insights
Using the 2 Stage Free Cash Flow to Equity, Hollywood Bowl Group fair value estimate is UK£3.29
Hollywood Bowl Group's UK£2.38 share price signals that it might be 28% undervalued
The UK£3.42 analyst price target for BOWL is 4.1% more than our estimate of fair value |
Marksp2011
That did the trick !
Must be a fair bit of demand to jump on no news. Where’s those rocket symbols ?
I think advfn have stopped the ability to hotlink images ;-) |
As long as TEG is 400p...: |
300p by Christmas
Just thought I would throw that one in. It is Advfn after all :) |
Tower Resources (TRP) 0.038p Market cap. £3.21M. |
U shape bowl on PYC. |
Still IQAI guys, with a steep side about to form. |
Plexus
POS
On way to 80p plus, see chart. |
IQAI , most definitely |
Plexus
POS
Ready to get back to 80p plus |
From the website "Simply Wall Street" which gives a free detailed analysis of the Company.
'
Fair Value__________£3.44
'
Share ownership
individual Insiders _4.4%
General Public _____11.6%
Institutions________84.6% |
Institution buying by ABRDN.plc affiliated investment management entities is probable action behind price movement
Two holdings, previous to recent, of 17.%% with a subset of 6.63%. It is the major shareholder |
Volatile share price on low volume |
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