Quiz Share Discussion Threads

[ramridge] 22/11/2017 14:15

martinthebrave - that was exactly my conclusion this morning. Other ratios to note are:
- ROCE on current performance is around 52%
- peg = 0.6
- price/ sales ratio 1.6
- OCF/ Sales a very healthy 10%
- forecast eps growth of 40%

all this for a forecast PE of 22 (based on forecast eps of 7.5) and no net debt

Cheap I woul say

[martinthebrave] 22/11/2017 11:42

Now that I have had a proper read of the interims what strikes me is that forecast EPS looks too low at 6.39p. We still have Black Friday & the festive holidays ahead & already have 3.28p EPS in the bag. 8p would be more realistic IMO. In that case we can expect upgrades. DYOR.

[che7win] 22/11/2017 10:28

Kcr, Fair enough and thanks for your reply.This has been on my watchlist for a while, it is a growth stock and I accept it is in a growth phase with upfront costs, it's the valuation blocking me buying right now.

[kcr69] 22/11/2017 10:15

Che7win

Will get back to you later as tied up all day, however even in an exceptionally strong retail business 10% of revenue flowing through to the bottom line would be a stunning result (note the likes of BOO and ASOS are nowhere near these levels). On that basis a gross revenue increase of 15m delivering earnings of 1.5m would be an exceptionally strong performance. Strip out the exceptional costs of £1m IPO listing and 150k share based payments and the discrepancy I believe you are referring to, or to answer your question, is £350k. My gut feel is this would have been as a result of the increased distribution costs which marginally outweighed the relative decrease in administration costs.

All off the top of my head I am afraid but I believe relatively accurate.

I maintain my view that they are a fantastic set of results demonstrating leverage in the business aligned with a solid demand for the brand which will result in enhanced future earnings delivery in H2 and future periods, but will have to go through the detail when I get a chance before I can add any more.

[che7win] 22/11/2017 08:34

Kcr, That is not the concern.On the back of a £15m increase in gross revenue, the operating profit came out as:Operating profit 3,681 3,690 Even allowing for £1m listing costs, why has the other £14m revenue increase not resulted in a significant increase.Ask yourself that before you criticise other contrarian views, the share price reflects this recently IMHO.

[kcr69] 22/11/2017 08:22

che7win

If you want to pretend that IPO costs of £1m didn't exist to portray an angle then that is fine with me. It most certainly isn't what anyone with a balanced mind would see however.

[martinthebrave] 22/11/2017 08:18

happy to have bought in last week 161p. Topped up first thing. Interims seem fine to me. Smallish position as I am wary of recent IPO's but top line growth is what matters at this point IMO.

[che7win] 22/11/2017 08:13

Kcr, Those that can read see a decline in EPS from a year ago to 2.35p:Diluted earnings per share 8 2.35p 2.42p

[gersemi] 22/11/2017 08:00

A bad investment I would say. This isn't ASOS

edit

I'll rephrase the above which is an idiotic thing to say about this company. QUIZ is a decent company but it ain't no ASOS

Apologies from an idiot

[rathean] 22/11/2017 07:59

Growth of online sales fueled through 3rd party sales, i.e. Amazon I presume. They charge silly commissions so margins will be narrower for those sales, would have been great to see more detailed sales per channel per portal.

[runthejoules] 22/11/2017 07:57

Sold out yesterday at a big percentage loss - unsure whether to get back in or not. Ostensibly very good & seller's remorse kicking in but still in an expansion phase. No IPO costs next year but still stores & fitout, commissions up etc. Also not sure about all this proforma business - seems largely guesswork to me. Any more views?

[kcr69] 22/11/2017 07:39

Stunning figures for those that can read.

Admin expenses dropped by 1.5% as a % of revenue to 37.0%, particularly pleasing given the increased spend on marketing and demonstrating the leverage in the business. Gross Margin up to 63.5% from 62.7%.

Stripping out IPO costs all adjusted metrics up by over 30% including EPS.

Only cost to rise as a % of revenue was distribution costs (up 3% to 18.1%) which is to be expected given the online and overseas expansion.

Outstanding set of results with momentum continuing in H2 at 30%+ and proves all the 'profit warning' merchants were talking nothing more than their own book.

[che7win] 22/11/2017 07:29

A decline in EPS, no wonder it's been falling.Admin and distribution costs soared in comparison to gross profit increase.

[johnv] 21/11/2017 09:20

Results out tomorrow

[davr0s] 20/11/2017 19:35

Lol - I keep watching it to setup.... and it keeps going down

[john09] 20/11/2017 19:08

Are you drunk?

[hootza616] 20/11/2017 15:45

Is it my blind optomism or does it look like the buying is now slowly taking over from last weeks big selling spree?

[johnv] 06/11/2017 14:23

For a bottom we need to rise and then come back and retest the low. I feel that we had a seller in the market for the last months which has depressed the price and this large sell today was the reminents of his holding, taken off of his hands by the mms. It might take a few weeks but the hopefully the price will rise

[hootza616] 06/11/2017 13:09

Thanks KR69 and all others, always nice to see varying views.
There was a huge sale this morning of over 2m shares at 148, which has not effected the share price as I can see.
Buys at 156 have followed, albeit small in comparison, but could this be the bottom?

[johnv] 06/11/2017 12:59

Just had a large sell, this could be the bottom

[john09] 04/11/2017 13:30

Well I'm afraid it's just going to dribble down from here. There's no obvious bottom . I'll buy back when there's an obvious bottom or when the market cap is £100m which seems a better valuation. All of the talk ATM is about IPOs all pulling out of listings which I think bodes very badly for the most recent ipos of which this was one

[crues123] 04/11/2017 13:23

And to add, as you say it looks a good company with good prospects so this price reduction could be an opportunity not a disaster when looked at over the longer term

[crues123] 04/11/2017 13:19

I appreciate that the price went up after the IPO but £1.55 is only 6p off the initial price. As the previous writer said I've not seen anything yet to make me change my mind about investing. The initial rise was to be expected as was the drift down after the initial surge until we all see some concrete results. I see this as a longterm holding for a few years so the small loss I have at present will not make me panic....yet

[john09] 04/11/2017 11:48

Don't take my scepticism as talking the price down, just trying to help. There's a difference between a good company and good share price action I have learnt. And this is a good company , with good prospects but the share price is falling off a cliff very slowly so why would you hold?

[crues123] 04/11/2017 09:13

I would agree. Holding too and have topped up and will be happy to top up more if the pessimists continue to talk the price down. If anyone wishes to compare Quiz with Koovs I suggest they review the two IPO admission documents. Quiz is quite different and is an established business with already a record of competing in this market