Portmeirion Share Discussion Threads

[wjccghcc] 27/4/2010 12:49

Thanks CR.

[cockneyrebel] 27/4/2010 10:37

Ok, new thread with a bit more useful data in the header:



CR

[cockneyrebel] 27/4/2010 10:36

A new thread so that we have some charts and the Plusmarket trades link.


----------------------------------------------------------------------------------------------------------------------

Portmeirion Group are a well known UK china manufacture.

As someone who has followed Royal Doulton and Churchill China for some time. I thought our china industry was dead or on its knees but these certainly seen to be doing the business.

The current management have really batted these into shape.

Over the past 5 years earnings have grown dramatically, only dipping in the 2008 recession.. Five year earnings record:

13.9p, 20.67p, 19.67p, 9p, 25.36p.

No net debt, they generated nearly £5m net cash this year.

The yield is good with them paying 15.8p divi this year.

Sales are well spread geographically: The five largest markets account for 92% of our revenues (2008: 91%), USA 40% (2008: 34%), UK 30% (2008: 32%), South Korea 17% (2008: 17%), Canada 4%
(2008: 6%) and Italy 1% (2008: 2%).

The most exciting part of the business currently is the acquisition of Royal Worcester and Spode assets from administration. Patterns and trade marks were acquired for £3.2m. Royal Worcester and Spode are now being produced by Portmeirion, much of which is being produced from the company's existing excess capacity. This is boosting the company's sales and making Spode and Worcester viable through better margins.

Sales are currently up 40% for this year over last year. Having done 25.3p eps last year it's hard to see how the current forecasts of 30.9p eps for this year are anything but conservative imo

Directors have recently received testing share options which require them to perform extremely strongly over the next 3 years in order to get these share options.

All in all I like these as a long term investment - the management seen straight, capable and don't seem to be giving themselves hideously easy options or excessive pay. The company outlook is very upbeat and they suggest the Spode/Worcester acquisition with transform the co's performance.

Obviously do your own research , all of this is just my opinion but hope it entices a few more investors to take a closer look at Portmeirion.

CR


Plusmarket trades:




Data and approximate dates:

Record Date: 04 September 2009
Ex-div Date: 02 September 2009 (Interim DPS = 3.55 )
Payment Date: 01 October 2009

Final DPS Record Date: 30 April 2010
Ex-div Date: 28 April 2010 (Final DPS = 12.25 )
Payment Date: 26 May 2010

Calendar

Interim Announcement Date: 10 August 2009
Expected Next Interim Results: 10 August 2010
Normal Year End: 31 December 2009
Expected Next Year End: 31 December 2010
Preliminary Announcement Date: 23 March 2010
Expected Next Preliminary Results: 23 March 2011
Date of Next AR Recieved: 22 March 2010
Expected Next AR: 25 March 2011
Date of Last AGM: 22 May 2009
Expected Next AGM: 20 May 2010




Company Website

[cockneyrebel] 26/4/2010 16:21

Plusmarket trades in the link above. If you're still around YlessPE can you add it into the header please, and the charts. If not I'll create a new thread.

CR

[cockneyrebel] 21/4/2010 10:05

Lovely chart still.

That 12.25p final divi is yours if you're holding on the close Tuesday.

CR

[ukinvestor220] 09/4/2010 12:34

"The options granted on the 29th March 2010 are normally only exercisable if the average of the pre-tax, pre-exceptional earnings per share of the Group for each of the three years ending 31st December 2010, 31st December 2011 and 31st December 2012 exceed 44.71p being 113% of the pre-tax, pre-exceptional earnings per share figure for the year ended 31st December 2009. "

So they need to exceed pre tax / excep 44.71p eps in each of the three years to qualify.

[cockneyrebel] 09/4/2010 10:16

Creeping back up.

goes XD on April 28th so punters buying in advance imo.

CR

[cockneyrebel] 08/4/2010 09:50

Buyers today - tipped in Shares Mag or somewhere?

CR

[cockneyrebel] 01/4/2010 16:09

FD takes up 10K options @ 345p and doesn't sell straight away like many do - which is nice.

CR

[cockneyrebel] 31/3/2010 13:44

Yes, but the broker forcast isn't suggesting that the 9% sales growth excludes the Spode buy, it's refering to total sales. Hard to see how 40% sales growth with Spode now being made a lot with Royal Doulton's overcapacity will only lead to the small broker forecast rise in earnings.

I think the share options and the targets needed to be reached gives a better clue imo.

By the way - nearly 30p of divi here over the next 13 months too.

CR

[wjccghcc] 31/3/2010 09:25

Although that's not like for like since the Spode acquisition only completed in April. Highly positive nevertheless.

[cockneyrebel] 31/3/2010 09:19

I'd take a look at the forecasts here imo.

Broker forecasts are for 31p eps this year from sales of £47.2m.

Sales for the year gone were £43.2m. So brokers are only looking for less than 10% sales growth.

In the results the co says:

" revenues for the
first two months of the current year have shown a 40% increase over the
corresponding period last year."

Sounds to me as if broker forecasts are very conservative.

CR

[cockneyrebel] 30/3/2010 14:15

Just had some more - seen those options and the shareprice that has to be achieved for them to come good?

They will have to grow earnings at around 40% per annum compound over 3 years to get those - so they are no easy give away options on the face of it and that growth must be achievable.

Just confirmed my belief that these are goingto grow earnings massively with Spode bolted on on the cheap imo.

CR

[cockneyrebel] 28/3/2010 18:57

Joan Armatrading by the sound of it.

Great 70's music and films - all video special effects and computer made music these days - sad.

CR

[jifster] 28/3/2010 17:56

cracking tune CR, what about this one? An underrated favourite of mine and a cracking good film....boys own stuff.

[cockneyrebel] 26/3/2010 11:02

Breaking out :-)

I think most should look at the Spod acquisition - the production being brought into Portmerions existing facilities will get rid of excess capacity and boost margins imo.

Sales up 40% - I think the current forecasts are way too low and if you listen to the directors words in the RNS they are suggesting the same imo.

CR

[cockneyrebel] 26/3/2010 08:29

Couple of buys early doors - tipped in IC then?

CR

[cockneyrebel] 25/3/2010 13:20

Large trades - just picked up another 2K myself - sort of stock IC will tip tomorrow after Monday's results.

Sale up 40%in H1 - that says current forecasts are miles too low imo and a nice final divi still to be had.

CR

[wjccghcc] 23/3/2010 08:11

Yup. Added a few more.

[cockneyrebel] 23/3/2010 08:10

Fantastic results, fantastic outlook, great divi tha was increased - all round great results.

CR

[gargoyle2] 23/3/2010 07:22

These results are excellent, and this year seems to have got off to a flying start too!

[share_shark] 22/3/2010 12:23

Hi guys and gals.
Not a shareholder but 29 years ago I went to Portmerion and purchased a complete,dinner,tea and coffe set there.

I am delighted to say that the "china pots" etc are now worth so much(according to the local auctioneers) that the monies raised would pay off my mortgage !. ;-).

[cockneyrebel] 22/3/2010 12:20

results tomorrow - be up bright and early :-)

CR