Moss Bros Share Discussion Threads

[rainmaker] 14/8/2007 12:45

Assest are obviously important but Investors will, except with the very extremes of the Investment range,ignore them unless there is an imminent distribution of those assets, instead preferring to concentrate on the Company's immediate earnings outlook

regards

[rainmaker] 14/8/2007 12:41

PP-Admittedly MOSB are cheap on assets but you said assets and earnings. MOSB aren't cheap on propective/future earnings of 17 and I expect the share price to fall further from current levels.Looking at recent trades there are a lot of sellers around which I can understand.

regards

[thepinkpanther] 14/8/2007 08:41

what about assets, do u completely discount them.............

earnings nearer 4p, so p/e 13, but earnings may drop this year

anyway, surely asset value must be included........

[rainmaker] 14/8/2007 00:19

The eps figures for the current year, just shy of 3p per share put MOSB on a prospective p/e of 17. Not cheap in my book.

regards

[thepinkpanther] 14/8/2007 00:19

Consolidated Balance Sheet
As at 27 January 2007

27 January 2007 28 January 2006
Audited Audited
#'000 #'000
-------------------------------------------------------------------------------
Assets

Property, plant and equipment 23,989 21,059
Lease prepayments 2,812 2,919
--------------------------------------------------------------------------------
Total Non-Current Assets 26,801 23,978
--------------------------------------------------------------------------------
Inventories 24,381 21,704
Trade and other receivables 7,491 7,310
Corporation tax recoverable 213 -
Cash and cash equivalents 16,590 17,655
--------------------------------------------------------------------------------
Total Current Assets 48,675 46,669
--------------------------------------------------------------------------------
Total Assets 75,476 70,647
--------------------------------------------------------------------------------

Equity

Issued capital 4,678 4,652
Share premium account 8,400 8,316
Retained earnings 39,766 38,320
--------------------------------------------------------------------------------
Total Equity 52,844 51,288
--------------------------------------------------------------------------------

Liabilities

Other payables 1,337 1,249
Deferred tax liabilities 3,454 2,385
--------------------------------------------------------------------------------
Total Non-Current Liabilities 4,791 3,634
--------------------------------------------------------------------------------

Trade and other payables 17,841 15,725
--------------------------------------------------------------------------------
Total Current Liabilities 17,841 15,725
--------------------------------------------------------------------------------
Total Liabilities 22,632 19,359
--------------------------------------------------------------------------------
Total Equity and Liabilities 75,476 70,647
------------------------------------------------------------------------------

[thepinkpanther] 14/8/2007 00:18

Consolidated Income Statement
For the 52 weeks ended 27 January 2007

52 weeks to 52 weeks to
27 January 2007 8 January 2006
Audited Audited
#'000 #'000
--------------------------------------------------------------------------------
Revenue 133,876 132,813
Cost of sales (62,800) (62,552)
--------------------------------------------------------------------------------
Gross Profit 71,076 70,261

Administrative expenses (4,518) (5,189)
Shops selling and marketing costs (61,804) (59,170)
--------------------------------------------------------------------------------
Operating Profit 4,754 5,902

Financial income 354 305
--------------------------------------------------------------------------------
Profit before Taxation 5,108 6,207

Taxation (1,468) (1,958)
--------------------------------------------------------------------------------
Profit for the Year 3,640 4,249
--------------------------------------------------------------------------------
Basic earnings per share 3.92p 4.62p
Diluted earnings per share 3.87p 4.54p
--------------------------------------------------------------------------------
All revenue and profits relate to the continuing operations of the Group.

[rainmaker] 14/8/2007 00:06

PP-I'm not saying it's not undervalued but given the Stock Market's obsession with the short term earnings outlook I fully expect to be able to buy at a much lower level.As I have said before this shouldn't be the case but......

Also wouldn't say its particularly undervalued on current and prospective earnings, according to the figures I have seen


regards

[thepinkpanther] 13/8/2007 13:43

this company appears undervalued on tangy assets and earnings

strange, with the current share price must have blown all their cash and their property plant and machinery must be worth nothing

keeping an eye on!

[rainmaker] 10/8/2007 01:28

Looks set for a test of the recent low of approx 52.50 now the technical retracement appears to have been completed. If it breaks that level would expect a sharp move below 50p pretty quickly

regards

[rainmaker] 03/8/2007 02:13

Reading about 28% shareholder Unity Investments confirming their interest as a long term shareholder to support development of MOSB, by my reckoning ruling themselves out as a Bidder.If they took their stake to 30% then they would have six months to make a bid but more importantly, I think it would definitely risk their relationship with the Board of MOSB on who's goodwill and trust they must surely depend upon in their business relationship. There effective withdrawal meaning that nearly a third of shares issues are out of the market.In my opinion this is going to make trading thin and will magnify moves whether negative or indeed positive.Anyone agree or disagree with my thoughts?

regards

[rainmaker] 30/7/2007 23:48

Before someone mentions that their like for like sales are up 2.5% it should be stated that in real terms their sales are actually falling ie when inflation is taken into account.

regards

[rainmaker] 30/7/2007 23:45

As you correctly state area above 60p is now overhead supply and it will be interesting to see, if and when it reaches that level, how much progress it makes. Technically it should drop to 40p as it has broken through a long established trading range between 60p and 80p.

I'm not a deramper but hope and expect to be able to buy MOSB at around 28p(Net Working Capital)-as the Stock Market is so utterly obsessed with a Company's short term earnings outlook(so called "Earnings Myopia") rather than the Company's five consecutive years of excellent growth. Added to this I feel there are likely to be profit warnings/downgrades with the cooling in consumer spending particularly affecting non essential expenditure.

Of course it shouldn't reach that level but I bet that it will

Regards

[bletherer] 30/7/2007 09:37

Quite a reassuring TS today - I hope this will lead to a recovery at least back to 60p, though clearly as former support that is liable now to act as resistance on any rally.

[loafofbread] 30/7/2007 08:31

Sold out of these a while back but still on the watch list.

Anyone know the make up of MOSB outlets. i.e are they all freehold properties, leased or a combination of both. Trying to get an idea of a base value. Do they still have that £16M cash pile?

All very well Bags saying they are in for the long term, but I still think they would prefer to own the lot when it starts to motor.

[bletherer] 26/7/2007 12:42

Bottom falling out of this one currently. Should be some support at 50p but it's looking ugly right now.

[wyorke] 18/7/2007 13:46

60 p , maybe buy ??

[meenan] 18/7/2007 13:07

What's up today. Badly down and no announcements!

[bletherer] 27/6/2007 11:37

Gah, shareprice moving back down again, in line with the broader UK market. Why couldn't I have gone for M&S or something when I decided to add a retailer to my portfolio? Still in the range at present but a move sub-60p would be grim indeed.

[mikepompeyfan] 11/6/2007 19:50

So l'm not alone then ! I know l should have sold ages ago but l can still see some hope. The two new Baugur representatives on the board will be taking a good look at mosb right now and something positive should happen, hopefully soon :-)

[bletherer] 11/6/2007 16:17

Aha, so there are other lurkers, lol. Perhaps it's just wild optimism on my part but I still think the long-term chart for MOSB looks fairly decent - the 2+ year decline has been much less sharp than the 3+ year run-up which preceded it, which gives me hope that the resolution of the triangle is going to be to the upside. It has probed the 200 day MA so many times and been rejected that I would see a clear break above that as a very powerful positive signal. That is currently 72.5p. Since there have been a few "false" breaks already I would also want to see it make a higher high - that would mean taking out the 75p level which just proved too much for it in April. If it closed above 75p on decent volume I reckon there'd be every chance of a strong upside breakout developing.

[sandbank] 11/6/2007 15:34

BLETHERER: I guess you are indeed the last 2 shareholders! (LOL) I know I started this thread - but that was ages ago ... but there could be some news in the next 2 or three months so I'm watching this graph again now.

..and for chartists there's the added fun of seeing a pressure triangle building up here

[bletherer] 11/6/2007 15:28

You still holding then, Mike? Looks like you and me may be about the only ones left judging by the action on this board. Not been focussing too much on MOSB lately as it never seems to do anything much, but having finally got round to scrutinising the AGM statement I agree that you can deduce a pickup in sales in the most recent period from a close reading. Beats me why they couldn't actually communicate this fact in plain English and instead chose to stress continuing "difficult" conditions in hire sales. You certainly can't accuse them of over-hyping themselves... I'm still in "hold and hope" mode here. Sales aren't exactly thrilling but not disastrous either; new blood in the management team might deliver some results; P/E rather on the high side but probably builds in some residual bid speculation which might some day happen and you'd be kicking yourself if you sell just before it does; dividend not very exciting but better than nothing. Chart technicals show several months of coiling which should lead to a 'spring' one way or the other. At this stage a break above 75p would be very positive and a break below 60p very negative IMO, but most likely that will be obvious anyway from the nature of the news which I imagine will accompany the breakout. Until that time it's a case of in the bottom drawer and fingers crossed.

[mikepompeyfan] 25/5/2007 07:13

Unless l'm misunderstanding it the AGM statement is not too bad. To me it is saying in a round about way trade has picked up the last 6 weeks. Anyone else agree ?

I have also since noted one of the new Directors is Don McCarthy who has done a good job for Baugur in increasing sales at House of Fraser since he was appointed Executive Chairman there. Reasons to be optimistic perhaps.

[bletherer] 13/4/2007 12:29

Sp moving up nicely since the results, and if it can hold the 74p level into the close it will have taken out both the 200 day MA and the declining tops pattern - extremely positive. Are we long-suffering holders finally going to get a return on our investment?