Interesting rumour, wonder if it is true. |
I hear they are in dire trouble and have an emergency meeting involving a government minister for special financial help due to ever increasing energy costs. |
At the end of 2023, Traction’s ownership passed ten percent of the votes in the British company Portmeirion, which means that the holding, like Driver Group, is included in Traction’s active holdings.
At present, we have no ambition to actively engage in the board work of these companies with our own employees or consultants, but our starting point is that stronger ownership gives Traction greater opportunities to constructively conduct a more in-depth dialogue with the board, management and other major owners about the companies’ development opportunities.
The valuations of smaller companies in the UK are generally at a significantly lower level than in Sweden, which is an interesting business opportunity. Traction has previously had successful investments in other listed British companies such as RPS Group, WYG and Waterman Group where we sold our holdings in connection with public bids from industrial buyers. |
ABT add even more... |
They already manufacture in China. |
If Trump imposes tariffs will be the final kiss of death (imo) And Reeves/Starmer will do nothing to help - |
BBC reporting today the company is issuing a clutch of redundancies, sad for the workers. BBC News - Portmeirion: Pottery firm job losses due to 'difficult market' - BBC Newshttps://www.bbc.co.uk/news/articles/c75zg1qr63go |
Another one gone to the wall, chiefly a victim of higher energy costs! Colin Griffiths, from the GMB, warned Britain could lose its ceramics and pottery industry without government intervention.BBC News - Burslem's Royal Stafford goes bust, bringing an end to a 200-year history - BBC Newshttps://www.bbc.co.uk/news/articles/cx2jrp8kqklo |
Every day is a fresh multi-decade low here. In fact, had it not been for the blip of the 2008 credit crunch, you'd have to go back nearly 25 years! Shareholders must be very pleased with the managerial and business skills of the company over the period. |
It's one thing getting paid for making tips in a magazine, another to have your money actually invested in the stock you are tipping. Anyone know if ST actually puts his own money where his mouth is? |
The curse of the Chronic Investor. |
'challenging' occurs six times in today's update. |
Interims are as bad as we predicted but we think FY will be better.
Hard to know how much to believe in the Korean overstocking line. It's an explanation that probably oversimplifies poor sales. If the management is confident of FY24 then that is reassuring but more so if they take this share price dip as an opportunity to increase their own holdings. As far as I can see, none of them has bought a single share since 2022. |
Have we passed the nadir now? |
Seems the shares would be worth more if they stripped the business and sold the assets including owned land and buildings carried at cost. Accounts show 50% is sourced from overseas and has been for many years |
Bok value 476p - Discount is so large makes one question whether books value is correct. Or to put it another way, Fire sale price?? |
It's such a shame to see investors losing a packet post Simon Thompsons IC tip as the shareprice crashed back to earth, and they end up getting locked in to a much longer term loss. Terrible, such a terrible shame ! |
Yes he did tip it in Sep 23 but he also tipped it in July23 ; here is his entry from sep 23.
"The profit warning led to a 28 per cent share price reversal and makes my buy call, at 457p, three months ago ill-timed. It also means that Portmeirion’s enterprise valuation of £47mn equates to only five times current-year downgraded cash profit estimates and four times 2024 forecasts, a massive discount to rival Churchill China (CHH:1,385p), which is priced on multiples of 10 times (2023) and 9.2 times (2024). Portmeirion's shares also trade on a deep 41 per cent discount to book value of 476p."
I know because I followed this bad advice in July23! |
He tipped it in September last year at 285p.
Personally, I think it's worth more like £4 FWIW, but they have to 'prove' it of course - which may be easier said than done. Time will tell.
I bought it during the pandemic then sold too early as usual, but bought even back more cheaply this year with a couple of buys (best was 215p). |
Though he was also tipping these at a fiver last summer!
Good to see a turnaround appearing. |
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