Patisserie Share Discussion Threads

[hvs] 14/10/2018 10:34

You got your bonus yet?.. Tnak you for asking.

I is working on share OPTIONS for how to take a company from £ 449 mill to ZERO.

Nice CAKE though.

[eeza] 14/10/2018 10:34

@Knigel

Using the search facility above; the first post on this thread by hvs was on 11 Oct 2018 post # 1044. He has posted a total of 139 times since.

I have had him on filter for, well, ever.

[hvs] 14/10/2018 10:32

Interesting that Barclays and HSBC hadn't realised that their overdraft facilities weren't consistent with the PV declared position. Top form due diligence by them!

lol !!!! WHY Should they the IDIOTS asked for OVERDRAFT the BOARD of DIRECTORS thats how it became an OVERDRAFT with NO cash in the BANK and LUKE JOHNSON knew nothing.

lol !!!! lol !!! lol !!!

[diku] 14/10/2018 10:29

You got your bonus yet?..

[diku] 14/10/2018 10:23

They must have one big mega sofa somewhere!...fallen off the back...

[zztop] 14/10/2018 10:16

Good film out atmKing of thieves

[tabhair] 14/10/2018 10:15

So what do we value this thing at?

Management have reported a true figure of revenue of £120m and EBITDA of £12m. Looks like revenue growth stalled in the last 12 months, so no growth premium can be attached here. I would say that the likes of Greggs would be a better comparison to CAKE than Starbucks. If we were to apply the same market cap to EBITDA multiple (8.6x) to CAKE, then you get to a valuation of £103m for CAKE, which translates to a share price of about 77p.

Given the uncertainty here, I don't think you'd want to be paying anything near 77p.

[zztop] 14/10/2018 10:14

If the 30 mill was there in the first placeWhich i doubt

[danny baker] 14/10/2018 10:12

Bank overdraft facilities are disclosed in note 24 of last year's accounts although as expected they were barely used. From a lending bank's perspective the company had £21 million of audited cash, no borrowings, good interim results and a market cap in excess of £400m with a very wealthy chairman. £10 million of overdraft facilities in those circumstances is almost risk free lending. The banks might ask for sight of the monthly management reports but those were clearly not accurate. The banks are entirely blameless as far as I can see. They love lending money to people who don't need it. But the big question remains as to what has happened in the last 12 months for well over £30 million in total to have been plundered.

[verulamium] 14/10/2018 10:10

Knigel - I think you'll find most people have got hvs filtered. A one-sided argument looks very odd indeed.

[knigel] 14/10/2018 09:59

hvs - question - did you post here before this news? (I be honest, not sure i did). My point is that you are an attention seeker - you must be the most active poster on Advfn - just some advice - get another hobby or a life outside online - how did you cope before the internet?

[knigel] 14/10/2018 09:55

The bank overdrafts do not make sense. With our company accounts we did a) a signed mandate with all authorised signatories b) a signing limit so that some can sign up to £25k, some to £50k and others over £50k c) all signatories have access to the online banking - they approve online and can see the balances. Surely any large overdraft agreement would have to be signed off by at least TWO signatories? Surely other signatories would have been aware!!

[topvest] 14/10/2018 09:51

I disagree on the net profit per store. Net margin of 17% is double their most successful competitors - Greggs, Pret and Costa are 8,9 and 12%. Starbucks turnover per store is also about twice a PV I suspect.

[hvs] 14/10/2018 09:51

No evidence of cooking the books here, even in hindsight Maybe they was baking it like in the CAKE yummy.

[still waiting] 14/10/2018 09:50

Secret bank overdrafts, plot gets thicker.

This might have been going on years !! Was this disclosed to placees?

[ccraig69] 14/10/2018 09:49

Apart from I always see starbucks full of people but not seen many in CAKE

[hvs] 14/10/2018 09:49

Nothing unusual about the reported CAKE profit per store.

Starbucks make around £118,000 net profit per store. Is you a serial IDIOT ????

Multiply this by CAKE's 206 stores suggests potential for £24million of net profit. Last year they reported £16.4million.
No evidence of cooking the books here, even in hindsight

lol !!! LOl !!!!! lol !!! Do you your multiply IDIOT

[topvest] 14/10/2018 09:46

Interesting that Barclays and HSBC hadn't realised that their overdraft facilities weren't consistent with the PV declared position. Top form due diligence by them!

[pj0077] 14/10/2018 09:44

Nothing unusual about the reported CAKE profit per store.Starbucks make around £118,000 net profit per store.Multiply this by CAKE's 206 stores suggests potential for £24million of net profit. Last year they reported £16.4million. No evidence of cooking the books here, even in hindsight

[hvs] 14/10/2018 09:43

Bring in PwC and its all KOSHER the Sunday Times loves IDIOT LUKE who wiped out over £ 449 mill in shareholder funds and no one know =s what went on. lol !!!!!

A secret overdraft of £ 10 mill ??? Secret from whom ?? Wake up IDIOT LUKE What a DISASTER let us eat CAKE