Photo-me Share Discussion Threads

[pixelrobox] 21/1/2020 14:36

Once/if expansion (as oppose to maintenance) capex comes down (largely on laundry)the cash flow picture should settle down. Atm, to new eyes, capex seems unsustainable despite pretty string cashflow. Pretty happy with the fruit juice acquisition, not that I know anything about the biz, just seems to fit well with their field engineer asset.

[linton5] 21/1/2020 13:24

Cracking nearly 10% divi here trying to muster some funds from others to get a foot in the door. Results I thought were good so not really a gamble

[morgoth1] 20/1/2020 19:20

Typical me bought in a few weeks ago at mid 90s

[eeza] 20/1/2020 19:14

It's not surprising if you look at the chart. It is wedded to the 90p line.

[justiceforthemany] 20/1/2020 18:16

P/E of 8 with a yield approaching 10% and Net Cash on the books. Looks good value and a surprising retrace from 100p.

[morgoth1] 20/1/2020 08:59

Imho the earnings growth will come from launderettes and fruit juice
both big markets with repeat sells going forward.
The photo booths are the cash cow for the time being.

[nw99] 20/1/2020 06:12

All British passports issued from early 2020 will be blue and will no longer include the words 'European Union' on them, which should provide scope to beat forecast eps of 8.9p for the year to end April and 9.3p next year.

[nw99] 16/1/2020 11:49

Keep buying

[revoman] 16/1/2020 11:37

pixelrobox, don't worry you're not scaring me as I've no idea what you're on about.

[pixelrobox] 16/1/2020 11:19

continued....
, but this accounting related debt IFRS16 , unlike normal debt, does not add to gross cash, the balancing factor in asstes is right of use assets and in cash flow should be amortised right of use assets (i would have thought). If I minus the £16.1m of extra ifrs16 debt (short and long)then the numbers do add up, just not in the cashflow statement. Certainly not trying to scare anyone. I hold and also added.

[pixelrobox] 16/1/2020 11:07

I think it is to do with retrospective IFRS16 comparables, which will increase debt, out of nowhere, as it were, though (roughly matched by right of use assets)

[pixelrobox] 16/1/2020 11:02

Valhamos.
I gave them a nudge yesterday. Will certainly reply here when answer received. I am convinced that there is something I am not seeing and that all is well, bugs me not knowing what.

[pixelrobox] 16/1/2020 11:00

stun, from the interim's

Cash flows from financing activities


Issue of Ordinary shares to equity shareholders



-

134

224

Repayment of borrowings



(7,886)

(3,617)

(8,397)

Repayment of capital element of finance leases



(90)

(86)

(167)

Increase in borrowings



17,053

26,679

43,748

Decrease in assets held to maturity / held at amortised cost



-

719

741

Dividends paid to owners of the Parent



(14,015)

(14,005)

(31,873)

[stun12] 15/1/2020 16:12

pixel, I'm not sure about it being included in financing. Shares outstanding is 378m which would make the annual dividend of 8.44p £31.9m or the latest half year 3.71p dividend => £14m.

[valhamos] 15/1/2020 15:09

pixelrobox - Good spot - there's clearly an error in the cashflow statement - the numbers do not add up. I would ask again for PHTM to explain.

[pixelrobox] 15/1/2020 14:48

stun, the div is accounted for in financing.

azaman, not suggesting that pm under reporting net cash, the numbers do not add up, if there is an adjustment for ifrs16, which there is (notes section) then it is not readily apparent (reconciled). I am quite probably wrong, just want to know where I have gone wrong.

I added too, so am a holder btw.

[nw99] 15/1/2020 12:47

H1 operations continued to grow Net cash25m All British passports to be blue from 2020 .So plenty of scope to beat

[nw99] 15/1/2020 12:24

Looks very solid

[stun12] 15/1/2020 12:22

pixel, they pay out a fair amount in dividend (a complaint sometimes directed at them, assuredly not from me) which may account for some of the difference?

EDIT 8.44p per share in 2019, which was slightly more than the diluted EPS.

[azaman] 15/1/2020 12:05

I am not a cashflow expert but a shareholder. Are you suggesting that the company has under reported their net cash position ?

[pixelrobox] 15/1/2020 11:47

Hi All
I have been over last results several times. The cash flow statement does not add up to me. I wrote to company and got a reply that they would get back to me, no response so far. Can someone give it a look and show me where i am going wrong.

Broadly speaking, I see net cash generated of circa:
£38m
minus £16m investing activities net
minus £5m financing activities net
Yet net increase in cash of £0.17m.

Something does not tally. I am fairly familiar with cash flow statements in general and of photo-me in particular, being a shareholder.

Fwiw I see year end 2018 £84,251m + from the interim 2019 £38(cash generated)-£16.5m(investing)-£5m(financing)= +£16.5m, therefore should total roughly £101m total cash and cash equivalents

[nw99] 15/1/2020 10:33

Added here

[morgoth1] 30/12/2019 20:56

Ive bought in over the last week or
so.Looks a good punt to me over the
next few years.

[azaman] 30/12/2019 18:32

So, it should be yes from all the brokers to their clients.

[jsforum] 30/12/2019 16:42

Yes and juice is an exciting market to be breaking into - absolutely massive and with the French know-how and the existing distribution network - massive potential here plus a decent dividend