Jaywing Share Discussion Threads

[britishb] 04/9/2013 21:02

Why would I put a chart in the header? Daft idea. Too cheap is too cheap.

[britishb] 04/9/2013 17:23

Look DD it's flying. Doesn't silly old Mr Market take it's time sometimes? Headed for 25p if next update is anything reasonable IMVHO. AGM next week I believe.

[britishb] 31/7/2013 10:48

So you haven't asked or answered my questions then!

[dusseldorf] 31/7/2013 10:40

I missed your post, but I was present at the AGM today. Sanlam the company house broker has outlined a profit before tax of £0.49m estimate for 2013 - a £1.3m swing in trading performance. Sanlam outlined a £0.85m profit before tax for 2014 both released in an extensive brokers note (9 pages) which I have a paper copy of having attended. These ignore any contribution of any new events/new kpop. EBITDA 2013Estimate £0.75m, 2014 estimate £1.03m. Revenue 2013 £9.62m, 2013 £10.02m As far as I could ascertain all events are profitable at the individual level except blue&white which will be b/e this year and profit making next.. Cash flow by all accounts has been problematic due to the length of time it takes to receive payments from events and historic minimal cash balance. Net cash estimates of £0.19m y/e 2013, £0.85m y/e 2014. I'll be posting a full response to the Q&A's I had sight of later tonight. One 3% shareholder not present but represented voted against proposals, but all resolutions passed.

[britishb] 30/7/2013 19:37

DD I don't have a view on PAA's future performance because the company hasn't released enough information for me or anyone else (IMO) to do so. INstead of wasting your time here I present you with the following challenge: Phone the company and ask them... Has H1 with all these events been profitable at the pretax level. If so how much?? Has H1 generated free cash flow? If so, how much? If H1 was profitable and generated free cash flow why have they issued 2 x t/s with just this "contribution" nonsense? Then report back. Is that fair?

[britishb] 30/7/2013 14:35

DD I have never said an FD is a must have. Please don't make things up. You're digging yourself deeper and deeper. Taking out the 700k received from a former client in administration leaves adj op cash flow of almost £2.7m vs a market cap of about £10m. That's very very cheap IMVHO if they only maintain that level of performance. Meantime you just ramp ramp ramp your yucky PAA which has performed abysmally since u were in your nappies. And you continue to expose your utter ignorance right left and centre. You are an idiot IMVHO my good friend....

[dusseldorf] 30/7/2013 13:48

addressing one comment for every three you are given.... what about FD's as a 'must have' - £700k received and used from a company that went into admin (non-recurring), £800k by increasing overdraft, having to buy in profit making business with the borrowed money to offset underperforming core areas,trading only because of it's banking facility yes obviously this company is clearly bringing home the cash Overheads will increase at least a further £300k+ in Full year as full effect of employment of Iris staff comes on stream, whether profitability increases in line I don't know You maintain an air of smugness that is completely unfounded. What is it you say you're at here 10% profit from a buy price of 13p? time will tell. £1.5m in performance based payments owed by 2015 and loss of £650k average they have recieved from a creditor each of the past two years - I don't see this going anywhere soon.

[britishb] 30/7/2013 11:16

Errr... "Operating cash flow before changes in working capital £3.38m" Hardly a cash burner is it? They finished with less cash than they started year primarily because they paid down £1.5m of debt, acquired Iris for £1m+ etc. You are making a fool of yourself IMVHO.

[dusseldorf] 30/7/2013 10:47

carefully avoiding the subject that the company here has been burning cash, has £1 in the bank (seriously?!) doesn't have a Finance Director They still owe £1.5m in additional payments for their aquisition by all accounts - equity issue anyone? or do they plan on using the next 3 years profits? I seem to recall quite vividly that you said what kind of outfit doesn't even have a FD, well 'old chap', one exactly like your beloved Jaywing pot, kettle, glass houses etc..

[britishb] 30/7/2013 08:48

DD - it's that sort of stunning stupidity that will cause you to lose all your money in the market over time. Meantime I'll just get richer and richer. How can you worry here about a director resigning when your dearly beloved PAA has only ONE, yes ONE, exec director? I challenge you, yet again, to find one other listed UK company with only one exec director....

[dusseldorf] 30/7/2013 08:23

Cash at hand of £1 and an increase in overdraft of £800k, 90% intangible assets and resignation of Finance Director Woof woof ;)

[first_things] 24/7/2013 15:58

Large trade just gone through, maybe that will get rid of any overhang. Looks very undervalued at these levels compared with its peers in the sector.

[britishb] 16/7/2013 15:28

First things. There are some exceptionals in your number, mine is a normalised one (better reflection of underlying perf on continuing ops). This looks very very cheap to me even if trading only stabilises here. Unfortunately I still can't buy in size and it looks like someone (as well as me) has a big buy order in.

[first_things] 14/7/2013 17:19

"Operating cash flow before changes in working capital GBP3.38m"

[britishb] 12/7/2013 08:40

Given approx £2.2m normalised op profit, and similar cash flow this looks like a potential doubler or better vs market cap c £9m given "This is the second consecutive year in which profits have fallen. We do not expect this decline to be repeated in 2013/14." Not without risk and impossible at present to buy in size but looks a good 'un at 13p to buy IMVHO.