Robinson Share Discussion Threads

[bookbroker] 21/1/2018 15:23

No chance Eastbourne, they have a dinosaur as exec.-chairman who should have been pensioned off with Dalgety, this is more likely to go into receivership than survive irrespective of net assets, which with current loans, non-performing businesses and pension issues is screwed!

[eastbourne1982] 21/1/2018 15:16

I'm still holding and waiting for news on any property deals, given where the share price is I believe any deals should represent most of the current market cap however I have little faith in those running the company so who knows.

Also there appears to be very little investor interest at these lowly levels.

Robinson don't seem to deliver much in the way of good news so hopefully they will surprise us in the near future.

[arthur_lame_stocks] 21/1/2018 15:07

Is anyone still here? Reading though this thread I said 2 years ago that these would be good value at £1 and now they're there. Although I didn't listen to myself and bought in at £1.25 or so so i'm sitting on a loss at the moment.

I am however hopeful of a decent disposal price for the surplus properties this year although the recent trading update was a bit vague on this. I have a figure of £10-12m in mind, hopefully that is not too far off the mark.

Arthur

[steve3sandal] 21/12/2017 17:51

I checked out a few months ago with a modest loss as it seemed unlikely to get back over 140p or distribute anything from the planning gain for some considerable time, and stopped thinking about RBN. I must have left my alert on and had a peek today.
Poor presentation of the trading statement never mind the content which seems to leave the way to disappoint given even 2018 has a medium term outlook.
I was also drawn to the eight figure HSBC loan, which must be min £10m. I suspect they are secured in some way by the Property so a special shareholders distribution looks remote. Nothing here to tempt me back in I am afraid, despite the AGM hospitality.

[overmars] 21/12/2017 17:13

Results in line with "market expectations" but management fails to tell us what market expectations are!
Anybody have an idea?
Great communication!

[overmars] 25/8/2017 15:56

The business was loss making in first six months of 2017.
If Poland is profitable - UK must be a large loss.
Either way - time for a change

[castleford tiger] 25/8/2017 13:23

I smell Victoria carpets all over again
tiger

[bookbroker] 25/8/2017 09:47

Issue here is that the Robinson family know they are sitting on strong fixed assets, Clothier is a useless, old-fashioned, outdated businessman, they need some young buck to shake the packaging business up, Poland was a good place to invest, but they timed it wrong and overpaid, total car crash!

[cockerhoop] 25/8/2017 09:42

Overmars,That's not correct - Poland made £1.1m in 2016, my understanding is that Lodz was loss making so Maddox may have made approximately £1.5m profit which is fairly significant in the context of a £2.1m overall profit.

[gengulphus] 25/8/2017 09:40

I think barely profitable now or loss making.

Thoughts are ten-a-penny.
Reasoned thoughts are rather more valuable!

So: why do you think that?

Gengulphus

[overmars] 24/8/2017 21:57

Maddox performed well initially triggering earnout payment.
Owners/key management departed.
I think barely profitable now or loss making.
Not good

[rhomboid] 24/8/2017 18:47

Good point CH, I'd mentally put both Polish businesses into the same pot, which as you say misses the divergent performances, I think the real issue is likely account mgt & or innovation or the lack therof in the wider group which speaks to leadership quality. Looking at Macf results today they seem to be trucking along just fine , different market but arguably an even tougher more commoditised sectors!

[cockerhoop] 24/8/2017 18:28

I believe the opposite, the Maddox acquisition has performed Ok - hence the maximum earn out. The problems have been with the legacy Polish Lodz based business and the UK operation which both lost large contracts in the last couple of years.

[overmars] 24/8/2017 14:55

CEO and finance director should both be held accountable.
Destroyed 10 million of shareholder value on Poland acquisition
There are more able executives that should run this company

[charo] 24/8/2017 14:46

The acquisitions by the CEO and approved by board have been very poor.Why he still there poss can't afford to pay him off.

[overmars] 24/8/2017 14:34

Poland acquisition disaster
Mangement should have been replaced
Ineffective board

[cockerhoop] 23/8/2017 17:27

Currently on holiday so haven't looked at today's announcement in depth but it was made clear to me at the agm operational improvements wouldn't be visible in H1 numbers so I wasn't at all surprised by today's statement. The key for me is whether they deliver improved results in H2 and 2018 as they have promised whilst monitoring any development on the surplus land.

[rhomboid] 23/8/2017 15:57

I'm happy to be on the sidelines here having made a hefty loss holding out for the property upside, my issue is that when I bought the core business was fairly valued & the property gain was a future windfall. How they managed to pay so much for Madrox(?)and yet produce so little by way of improved financial results is something only mgt can answer. They used to be innovative enough to carve out profitable niches in packaging, it seems they've either lost the knack or the key people involved in design & customer engagement have left.

In short the plot appears lost.

Good luck Castlefield Tiger if you want to create some strategic change, my fear is the property windfall will mainly be used to repay Bank Loans, holders may wish to ask mgt whether any formal or informal pledges in this regard have been made to the Bank in this regard already..in which case external holders may have every right to feel misled.

[ed 123] 23/8/2017 12:54

Castleford Tiger.

Support? I think the family hold over 30% of the shares, so you're unlikely to get any change. As you'll probably know, there's a very long history here and many family members hold shares. The business is part of their identity.

The dividend is a 'problem'. The family like it. It pays c 4.8% pa at the current share price (115p). If they sell the business for cash what will replace that income?

However, there is a chance that, when the property value has been realised, the family may decide it's their best time to check out .... but they won't be pushed.

If no sell out and no big shareholder return on the sale of the property, then the cash will go to growing the packaging business. They've had some good products in the past. With such a small company, if they do design something novel and commercial, it could make a big impact on their figures.

[overmars] 23/8/2017 12:35

Enough is enough. Time for a change

[castleford tiger] 23/8/2017 08:13

buying close to 120p now.
Maybe if a get enough I can gather some support to push some changes here.
Apathetic is probably the right word for current board
tiger

[bookbroker] 23/8/2017 07:09

All they are doing is running up the debt!

[castleford tiger] 23/8/2017 06:48

Certainly needs shaking up that's for sure.

Tiger