Jacques Vert Share Discussion Threads

[serratia] 07/12/2005 13:59

My wife has just visited the stores and asked how sales are going in the JV group. The answer Jaques Vert going well Windsmoor and either Planet or Precis poorly. No idea of the relative scale of JV/W/P,so I can't say how this affects the group.

[quotes_4_u] 06/12/2005 23:36

150k buy at 12.75p and 4pm caused the tick back up.

[quotes_4_u] 06/12/2005 16:10

And today all the mm's shook and moved down on no trades but
house broker Seymore Pierce switches to 12.25p bid and takes
some big sells and then move up again to 12.5p bid.

[quotes_4_u] 06/12/2005 16:08

I got my copy of the 2005 annual reports today after ringing
for a copy.

It seems this pension deficit was inherited with the baird merger,
they would not have done this if they did not believe that in the
long term the two companies would not deliver long term growth and
sort out these pension problems.

I'm not a accountant so it's a trifle hard to understand all the jargon
at times.

Some very positive points to note though.

Very big holders of the stock.

Not to mention all the director buying this year at 14.75p and 15p.

Schroder Investment hold 25.28%
Waillim Limited hold 26.31%

And recent new institutional holder Henderson Global hold 3.1% so
54% of the stock in safe hands.

[quotes_4_u] 05/12/2005 22:53

Nothing is going to put me off Jqv at this present moment when
they are making such good progress and have such strong cash generation.
By now they should be net cash positive.

Only 5 weeks to their interims so i'm holding to see if they have
continued to make improvements in their balance sheet.

Obviously interested to what happens with the pension deficit, do they intend
to make contributions if they keep generating strong cash flows ?

Thoughts ?

[terry91] 05/12/2005 16:22

lol


Your not related to Gordaon Brown are you Fusebox.


LOL

[fusebox] 05/12/2005 16:07

I did try to warn you retailers werent the best stocks to buy!

[sharw] 05/12/2005 15:42

The scheme deficit at 30/4/05 was £25.8m. Most of this was inherted from Baird. If you read the accounts you will see that £15m of this is recognised on the balance sheet under SSAP 24 -the rest is to come under new accounting rules. There do not appear to be any distributable reserves so a dividend would require an expensive reconstruction of the share capital.

[quotes_4_u] 05/12/2005 10:37

I see other mm's took advantage of Evo going missing for a while
this morning.

IntheWoods.

Can you tell me how big this pension deficit is please, i cannot
see in the final results where this is mentioned ?

[inthewoods] 02/12/2005 23:57

I agree with a lot that has been said on JQV, especially the cashflow. But I think the pension deficit will be a problem for a while, and will prevent them from paying a divi, so have considered it a hold rather than a buy at these levels,

cheers

Mark

[quotes_4_u] 02/12/2005 23:35

No signs of the big buy order just yet.

Shame people are selling as Evo dont have to outbid to
get their stock for the buyer, if nobody sold they would
have to raise the bid to try and get sellers, think they
are struggling anyway as the online bid size has been 100k
at 13.4p for ages now.

Sellers ina short while will regret bailing out of JQV.

[quotes_4_u] 02/12/2005 14:38

Sellers only filling the large buy order.

Make that 300k+ now sold and it's still 13.4p bid for 100k online.

Big T trade to show maybe today or next week.

[quotes_4_u] 01/12/2005 23:49

I would not use any comparisons for Jqv, again they make great progress
in tough trading conditions.

On their recent results the house broker said the following.

UK smallcap opening - Jacques Vert edges up on better-than-expected results

LONDON (AFX) - Better-than-expected full-year numbers helped nudge Jacques
Vert, the clothing retailer and wholesaler, 1/2 higher to 13-3/4.
Richard Ratner of Seymour Pierce advised clients to 'buy' in the wake of the
numbers.
The nearest comparison to Vert is Alexon, which is considerably larger and
has a better profit record, said the analyst. He would, therefore, in the short
term, apply a discount of up to 30 pct to Alexon's share price, thus implying a
P/E of just over six times and an implied price of 18-1/2 pence.
Later in the year, when there is evidence that trading is on stream to hit
forecasts, Ratner expects the discount to narrow and the P/E to rise to around
7.5 times, giving an implied price of 22-1/2.


I agree totally, i think the shareprice is too low at 13.5p but the company
has to continue the progress first before they get the rating they deserve.
It's now over 200k sold since the bid went to 13.25p and Evo are not budging,
this buy order is big but the buyer has not shown their hand yet, the buyer
must be in for a big amount because despite 200k sold the online bid size
remained at 100k at 13.4p.

[escondido] 01/12/2005 16:59

fusebox -
care with Alexon comparison needed. When you dig into the last set of Alexon int. figs it was the older 'Alexon brands' that performed well with an increase in same store sales over the 6 month trading period, whereas as the younger Dolcis and Style brands were the divisions that suffered.
Incidentally Alexon was also hit by the Allders fiasco.

[terry91] 01/12/2005 16:29

Spot on quotes 50K T trade buy. Would have expected more. We shall see

[quotes_4_u] 01/12/2005 15:49

I dont disagree that most retailers are struggling.

You seem to like this EKT stock.

Funny how Jqv will have more cash than Ekt if they continue
to generate as much cashlow as they do very soon and are forcast
to make 3 times as much profit for 2006.
Most of the stock is tightly held, directors have bought repeatedly
over the last year and more cost cutting benefits to come through yet
Ekt is wonderful but to you Jqv is not just because they are a retailer.

I'll take my chances fusebox, watch for the big T trade soon, more and
more stock falling into safe hands, must be over 70% now.

[fusebox] 01/12/2005 15:32

Alexon is for the older women but the chain suffering! So is country casuals suffering and cc and jqv are about the same in style age etc!!!

[quotes_4_u] 01/12/2005 15:12

Thanks for your thoughts fusebox although i have to admit i disagree
with quite a bit of it.

Jqv is probably net debt free now, and all this difficult retail climate
stuff, Jqv has been producing the goods whilst stressing that trading is
tough for quite a while now.

Their brands are for the older person, a sector in which should hold up better
than other retailers, young people with loans and mortgages are the people that
stop spending and give off the poor retail spending figures, older people are
more financially secure hence a reason why M&S did well when other retailers
suffered in the downturn.

Anyway i think it's dirt cheap and so does somebody else, despite lots of
traders bailing today at 13.4p that price is still available and still for 100k
so Evo are sitting on the bid mopping up all the stock for their large buyer.

[terry91] 01/12/2005 14:05

Have to agree with quotes Buy order being filled.

[fusebox] 01/12/2005 12:31

Yes they did!!!

The forecast profits for 2006 are about £6 million and forecast pe ratio a little over 4 however this co will never be on a premium rating in the present envireoment.

The share price was probably too cheap at the 11p mark however the operating margin is tiny Margin 3.9% according to digital look is a concern.

If sales were to falter expected profits would slump notwithstanding go into loss if things got worse.

[hvs] 01/12/2005 12:22

Did any posters ask FUSEY for his unworthy and unresearched comment.

Think he should stick to his lovely EKT and leave this board alone.

[fusebox] 01/12/2005 12:19

Hi quotes ive only done some basic research on the co but have followed it for some time.

I would be carefull. I dont like retailers at the moment look what has happened to MPH lately and thats quite profitable.

This co has not got brilliant margins. Market cap over 25 million and this years forecast profits not brilliant.

Let me put this in perspective as most know i hold EKT...the market cap is a measly 12m with 2.5 million in the bank and the co should make £1.7 to £2 mill this year. EKT has massive margins no net debt and cash climbing no intangibles or goodwill. The co is set for good growth not like retailers.

Im sorry im talking about another share but im tryig to put this co in persective.

It aint a bad company and if the retail sector was going to pick up i may look at the company. However i feel there are too many risks at the moment.

With EKT you are getting a co with the board indcating they are to buy back shares...that shows how much they feel its undervalued.

Therefore less risks with EKT...you pays your money and you makes your choice. I have today sold Widney...too much caution their despite an increased dividend.

Clothes retailers can be very risky and i have held many over the years. Dont like them now.

[quotes_4_u] 01/12/2005 11:56

Imho Henderson are buying more stock via Evo who are on the bid
and bidding 13.4p for 100k still despite selling yesterday and today.

Should see a T trade soon around 13.5p which hopefully will be them adding.

Why are people selling so low, they've had a good run fair enough but the
potential for a one bagger is obvious and in a short space of time.

[terry91] 01/12/2005 10:35

Good to see sellers in order to keep the share stable.

Love to see some news as well.