Mereo Biopharma Share Discussion Threads

[bsumme] 29/6/2007 10:21

Any thoughts maestro?

[lex1000] 29/6/2007 10:21

Good morning wbj,name of the game with YSL was to shift stock,therefore known in advance going to be compromise on margins.Some "speak" weak in results;no breakdown of numbers..adequate replacement of YSL..'Ungaro' close to expectations etc.Must accept weren't knock out results to cause lift.CCT were good,however,expectations were for £7m+ not sub £7m,higher increase in divi than got etc.

Marchpole as posted mirror image of Character.Possibly means share price as low as 150p?

New investment buy to hold strategies (in fewer stocks)from late 2006 through to 2008.Learning curve particularly as averaged up only to witness a decline.End of day no control over sellers,market matches buyers to sellers irrespective of value.Market always wins.

As you well know ,however good a company have always advocated creaming off,bankings profits and buy back cheaper.In hindsight better strategy for this year 2007,possibly spreading money across several and trading in and out of some.Providing no worse off long term no harm done.All the best to you......lex;o)

[electric sheep] 29/6/2007 10:15

ask maestro imho.

[bsumme] 29/6/2007 10:14

Great results and the price goes down 9p.
So far today down 6p, is there an hidden agenda I don't know about?
.

[wbjunior] 29/6/2007 09:55

Morning lex, printing off results this morning and going over numbers in more detail, as I said to Dan the results were very good although margins must have dropped because of the YSL sale off. The eps on that revenue would normally be around 29p. I believe the extra added to profits for fair value was a bit creative and made to exceed analyst forecast, but when you look as the savings this year in interest payments the picture going forward looks good. Don't believe Morris would have gone for 23p this year unless he was confident about current trading, should know more when Hardman reports back. Some small investors getting shaken out, watch the institutions snapping them up in the background. Best wishes................wbj

[lex1000] 29/6/2007 09:22

Currently mid 173.5p means trading 150p-175p mirror of what has happened to CCT.

[lex1000] 29/6/2007 09:01

Good morning,had expected CCT & MPH to see both happily trading above 200p drinking beers out in the sun.Two companies have had good newsflow and doing everything right. By the looks of things more patience is required.After the event results obviously in the price of both irrespective of "actual value".Traders win again.Sell in May........Nothing long term investors have not seen before.AHT rose to 164p after results gradually dropping touching 150p.Can't fight the market.

Chart breakouts publicly banking profits yesterday saying fear general market and drift in share price possibly explains others following their example? One person sells, others follow as see profits disappearing causing domino effect.Certainly CCT had seller(s) in the market,sp not held despite company buybacks 198p-200p more recently @ 150p.Shares at this level trade in 25p bands ie.150p-175p, 175p-200p.Hopefully MPH holds 175p for it deserves to imho.

The good news is both have risen strongly.CCT has twice bounced off 150p recent lows.Things should look much better for MPH this time next year,sooner even by August to November 2007.Growth & income. Look sound investments to me.bwdik

[lex1000] 28/6/2007 20:49

remynapoleon, yes most of us on board would like to have seen more detail and breakdown.Something to get more teeth into.Marchpole used to provide shedloads of detail and regular updates.I think those times will return.Perhaps some may have wanted something stronger than "adequate replacement for YSL." Given Marchpole's history doubters remain some of whom sold first thing this morning suspicious results less than transparent.I'm impressed with MM & team and have faith in medium to long term. Holders patiently await H1 results when all should be revealed.Even if next year Marchpole only match EPS of 23p then indicative share price is 300p-400p.Am I right or wrong?

For the second time thought share price would rise on results but alas no.Hopefully MPH will not drift as low as CCT has done.Game of nip and tuck.Value will out whatever market does short term.Yep time will tell.aimvho.

[dan de lion] 28/6/2007 20:06

The AGM will be the place to ask those questions.

398,767 gone thro` late at mid price.

Hmmm, the 200k and the two cross trades add up to 398,767?

[remynapoleon] 28/6/2007 19:02

lex ; re 1534

You may be right there but I would like to know in detail what Moda is doing at the moment and how this compares to numbers pre our acquisition of the company.

I thought Asim Abdullah and MM were going to push very hard to establish Ungaro in the States and consider this market to be a future top earner for us.

I suppose time will tell.

remynapoleon

[marben100] 28/6/2007 18:06

A lot of sells have gone through late on (£1M approx).

It appears to me that most of those late trades were cross-trades @ 177.5p, i.e. trades arranged directly between willing buyers and willing sellers, chiefly one of 200k shares and two others of 64.7k and 134k each. If the 200K was sell, the others will have been buys, or vice versa.

I guess the market is waiting for revised broker forecasts. If those show the EPS moving up from here, I'd expect the price to start moving forward. As I've said before, I'm prepared to wait until the market recognises the value in these, or my assessment of the value is proven to be wrong. They still seem cheap to me. Patience and good research is the order of the day and has been rewarded so far.

Interesting article about Hardy Amies in the FT today (AIM listed, ticker HRD). They seem to be having some accounting woes ;0). Their market cap is currently £3.7m. Might be a good brand to add to Marchpole's stable...

Cheers,

Mark

[dan de lion] 28/6/2007 17:24

I can`t see them having to fork out £1.7 million of finance costs this year, that will go straight to the bottom line.

They in fact could be cash rich by the end of this year.

I wonder who the "Mens Chain" are?

[apppp] 28/6/2007 17:19

A lot of sells have gone through late on (£1M approx).

[eagle eye3] 28/6/2007 16:40

still see nothing wrong, results are good, but more importantly, what was said to the media today is the key, reading these post's is a shorters dream.

[lex1000] 28/6/2007 16:40

Volumes 671,286 which is 3,356,430 in old money. More patience until H1 in November.

[lex1000] 28/6/2007 16:38

JohnRH, 7 Aug it is then give or take.Take care.

[johnrh] 28/6/2007 16:36

Chaps, a disappointing day given that the consensus view appeared to be in favour of a post-results share price increase. I guess though that results and outlook needed to be truly exceptional for that to happen - cos those that already knew about the relatively low rating of MPH were already in and expecting the sort of results we got. It's not to say that others won't wake up to the MPH story in the coming weeks. And in the meantime, there's got to be very limited downside - surely?! Famous last words, I know. You can all give me a kicking if it goes pear shaped!

Note though, that, I now have a date for my cruciate ligament op, 7 Aug. MPH zipped higher when I had a knee arthroscopy in April so I'm expecting more of the same in August. Time your top-ups accordingly!

And wbj, lex et al - I'll be in need of MPH BB fix more the ever in the days following the op. So don't desert me and keep up the good work!

[lex1000] 28/6/2007 16:24

Mixed day and mix of views.There is always tomorrow! Would have been nice to have had in depth breakdown of numbers but must be reasons why company have chosen opaque today.Chart breakouts banked profits saying share price may drift.Who knows.o/t CCT dropped 207p down 140's but see value there too. Some allege MPH creative accounting and uncertainty,however,clearer picture come H1 in November.Looks to be value and growth even if some areas slightly less than expectations. "T" trades buys? aimvho.

[lex1000] 28/6/2007 16:23

remy,guessing this quote covers Moda "Licences

Emanuel Ungaro and Ungaro Homme

We are working closely with the House of Ungaro on developments in design,
product range and distribution.

Sales of Emanuel Ungaro and Ungaro Homme in Europe and North America are both
encouraging and close to expectations. We remain confident that the Ungaro brand
will prove to be an adequate replacement for YSL.

The first UK advertising campaign was well received and the brand will receive a
further boost from the Paris Fashion Show for the new first line on 29 June
2007.

A major event during the year has been the recruitment of Franck Boclet as Head
of Design. Franck comes to Marchpole from the Francesco Smalto house where he
had built a renowned reputation."

[wbjunior] 28/6/2007 16:04

Polzeath sell or not disappointed and going out for a few beers and snooker later, what has this company got to do ?
cu all tomorrow.....................wbj

[polzeath] 28/6/2007 16:00

We don't know that was a sell

[wbjunior] 28/6/2007 15:53

134K at 177.5 just gone through, disappointed with the reaction to great results, but then not surprised......................holding firm .................wbj

[wbjunior] 28/6/2007 15:37

By Jessica Price Brown
28/06/2007
Printer friendly version
Fashion group Marchpole is in talks to acquire a menswear chain, after operating profits doubled to £10.1 million for the year to March 31.

Turnover for the period shot up 135 per cent to £90.5 million and executive deputy chairman Michael Morris said the strong performance was down to "hard work".

He added he was in discussions to buy the menswear group and that he hoped to conclude a deal in the near future.

"We have learnt from our Jean-Charles de Castelbajac (JCC) stores. Vertical operations mean you can make very nice margin," he said.

Morris said that performance had been helped by strong sales at John Lewis, one of Marchpole's key customers, but he conceded that the retail market was tough.

Separately, Marchpole will close its Homebody store in London's St John's Wood today, but Morris said he would launch a Homebody web site selling across Europe in August. "We expect between £1 million and £1.5 million sales in the first year," Morris said.

The company will also open JCC stores with partners in Japan, Russia and Dubai this year. Morris added that he was looking for a location for JCC in the UK, but that it had proved difficult to find the right site.

Marchpole subsidiary JCC signed a license with Lee Cooper and will product a new denim collection called JC-DC. The range will go into 250 Lee Cooper stores from spring 2008 worldwide. JCC will also design a premium range, JC de Castelbajac, to be sold in JCC flagships and top-end Lee Cooper stores.

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Food for thought wbj

[marben100] 28/6/2007 14:28

Hi retiring,

Whilst final divvy wasn't increased, overall divvy for the year is up from 3.5p to 3.75p. They may also need cash soon to build stocks in the new products for the 07/08 autumn/winter ranges. Normally cashflow is stronger in the 2nd half (to March) than the 1st (to September). Last year (05/06) was an exception, where they were a bit late collecting debts.

Cheers,

Mark

[lex1000] 28/6/2007 14:24

Positive sign mms soaking up sells on PLUS & share price holding! Roll on.

28/06/2007 14:05:39 176.01 1000 O 176010.00
28/06/2007 13:29:54 176.50 10000 O 1765000.00
28/06/2007 13:23:05 176.50 10000 O 1765000.00
28/06/2007 12:20:25 176.50 20000 O 3530000.00
28/06/2007 13:01:38 176.50 2000 O 353000.00