Portmeirion Share Discussion Threads

[cwa1] 29/11/2023 09:00

I see that Henry Spain Investment Services increased their holding significantly:-



Anyone know much about them?

[illiswilgig] 23/11/2023 12:35

Thanks for posting that RNS - somehow I missed it.

Interesting that what is presumably a disposal by one holder and acquisition by another seems to have moved the price so much?

cheers

[wad collector] 22/11/2023 22:19

The corollary of that increase is of course that someone else has reduced their holding...

[cwa1] 22/11/2023 12:14

Wonder if this might start to get interesting?

[my retirement fund] 17/11/2023 15:35

Maybe, but then it's so illiquid it may take you several months to find out.

[wad collector] 16/11/2023 22:40

Maybe finally bottomed out....

[richyst] 02/11/2023 18:40

Why is this still sinking?

[pugugly] 09/10/2023 18:52

Should not the header be changed to 'Cracked plate leaks for continuing losses' !!!!!

[volsung] 09/10/2023 16:12

Just doubled my holding here at multi-year low
Still a good company

[asagi] 24/9/2023 12:39

Call me negative and full of doom and gloom, but I think the time to get rid of this guy and make a fundraising to put the business on an even keel may be right now.

that's already happened though!

10th of June 2020:
a proposed issue of new Ordinary Shares in the Company by way of a Placing ... to raise gross proceeds of approximately £10 million at an issue price of not less than 375 pence per share...

[richyst] 24/9/2023 10:12

The ceo has purchased shares with his own money - on two occasions, once in 2020 and again in 2022. The cfo did once too.

[arthur_lame_stocks] 23/9/2023 19:17

Does anyone else feel that the Board pay themselves handsomely here?

[richyst] 23/9/2023 18:59

Let’s not forget they have unused 10 mill in banking facilities, and obviously they can stop the dividend if necessary

[my retirement fund] 22/9/2023 12:20

He stepped down right after it seems, he was going to be a consultant on the board but seems to have resigned less than a year later. He appears to be an American national now. Anyway, good points

[zho] 22/9/2023 11:36

"Portmeirion CEO Lawrence Bryan said he has known of Nambé for a long time and first thought of acquiring it about 15 years ago."



That was July 2019. MR appointed CEO September 2019.

[asagi] 22/9/2023 11:30

great posts My Retirement Fund but let's not leave readers with any impression that current PMP CEO Mike Raybould was CEO at the time of the candles or Nambe acquisitions, he wasn't. Lawrence Bryan was CEO for both of those. Maybe Mike Raybould was CFO at the time of Nambe but I haven't got the original RNS.

Asagi (no position)

[richyst] 22/9/2023 09:43

I don’t expect the next year or two to be great for PMP but I do think that when the economy returns to normal they’ll be ok.

[my retirement fund] 21/9/2023 19:07

In my very long investing career, time and time you see it, an aquasistion is made, they overpay, and then directors spend the entire remaining tenure of their office trying to hide it. Put yourself on their shoes, if you didn't but instead stood up and admitted you'd screwed up, it would be the end of your career. You'd never get another directorship in a PLC again! If that's what has happened then it's a real shame the company has managed to integrate several key businesses over past decades by having the fortune to aquire some prestigious brands virtually for free out of administration. Some may say what goes around comes around, no?

[my retirement fund] 21/9/2023 18:55

It's usually the other way round. When you've got a good profitable business rammed with valuable inventory and showing a good profit, long-term debt is easy to deal with. Short-term debt is the killer, business go bust because they run out of money, not because they run out of customers!

[richyst] 21/9/2023 18:35

2 mill in long term debt, from the balance sheet in the last update, the non current liabilities. Current liabilities is 15 mill, but I was under the impression that long term debt is more concerning? I agree nambe is likely a bad buy, possibly the candle stuff too.

[my retirement fund] 21/9/2023 18:22

Well, having run businesses over my working career, I know full well you run your inventory down to increase cash. They are doing this at a time of increasing input costs. Normally, you'd want to increase your inventory ahead of increasing prices. Especially as tgeir energy prices will triple next year. Make hay whilst the sun shines! You don't increase cash unless you make more money doing that. I couple that with the fact they paid for Nambe in cash and debt and can see after allowing time it's not helped the bottom line and wonder if it really was good value. I think the debt is higher than you imagine. How did you arrive at 2M?

[richyst] 21/9/2023 18:04

Why do you feel the solvency of the company may be an issue? They made over 5 million in net profit last year. Should still make a profit this year, although lower. They only have 2 mill in long term debt.

[my retirement fund] 21/9/2023 10:47

Silence from you pottery lovers is deafening.