Robinson Share Discussion Threads

[charo] 17/8/2023 07:24

Operating loss £500k.Ardee few institutional investors will invest in companies with defined benefit schemes .
The company continues to repeat this 6/8% earni gs target,5/6 years now.
This year on 50million of sales will again lose money.
Property sales funding dividends and reducing debt meanwhile business sadly going nowhere.

[ardee] 16/8/2023 17:55

The pension fund was in substantial surplus and so would not have been a brake on the share price. It does tidy up the balance sheet, passing it on to an insurance company.The company very much needs to improve volumes and margins to produce decent profits.

[charo] 16/8/2023 11:54

What will profits be from operations.The cleaning up of pension fund is great news and when sold off removes a big brake on shares.

[baner] 16/8/2023 10:02

I assume they need to do some clean up on the site and that is what cause the very high expenses.

[castleford tiger] 15/8/2023 05:48

I will ask the question re the 400 k.
There must be a reason ( clearance etc ) the price per acre looked high too.
I will get an answer today from the FD
Tigee

[ardee] 14/8/2023 17:31

The expenses at £400K ie almost 30% of sale proceeds seem unduly high. I would hope that the management would not fritter away all of the property assets. They do need to have a more focussed sales and pricing policy.

[baner] 14/8/2023 14:03

tiger

i totally agree with you. they are doing a good job cleaning this up and reducing debts to a very comfy level.

[castleford tiger] 14/8/2023 09:12

Looking much cleaner now.
Just need the business to pick up and make some cash now. Still think 150p is fair value
Tiger

[value hound] 14/8/2023 07:46

The escrow funds and properties some of which are to be sold "in the next 12 months" come to 64pps.

Interims on Thurs but surely H1 will be bad as stated on 22 June; "Profits are substantially below the first five months in 2022" but at that time they still expected "to deliver full year adjusted operating profit in line with current expectations" - so weighted to H2 due to better trading and cost saving measures?

[18bt] 14/8/2023 07:28

So pension escrow now released. Net debt at 31/12/22 was £9.2m. Since then £0.7m realised on 31/5 from property sale. This should take debt down to £5.3m with a further £1.1m to come if planning achieved.

Nothing on current trading, so must assume in line with the £1m operating profit they did in H1 last year. Net debt now highly supportable from trading.

[charo] 04/8/2023 21:54

So discarded production director now at multi national competitor.

[1tx] 31/7/2023 11:27

The £3.2m which is in the pension escrow account that is to be returned to RBN was never part of the pension fund;it was monies paid into an account by RBN which would be put into the pension fund if at some future date when the pension fund was wound up & it was found the liabilities exceeded assets.However it seems the actual pension fund is in surplus after transfer of its liabilities.RBN will not benefit from actual pension fund surplus as I understand it is being used to enhance benefits to members above the contracted level.

The £3.2m being returned from the escrow account are a provision made by RBN now no longer required & I don't think it is taxable as it was made from net funds so will not appear in p & l accounts when it becomes available to RBN.

[charo] 26/7/2023 09:35

All three,If so what does this say about board !!!

[castleford tiger] 19/7/2023 09:27

but they were no good Charo?

[charo] 17/7/2023 16:35

3 out of the named 5 uk senior leadership team now gone.Shambles.

[arthur_lame_stocks] 07/7/2023 14:42

These are now xd. The divi should be paid in a fortnight.

[charo] 03/7/2023 09:04

Sale of property after Costs likely profit neutral.
Unlikely the pension surplus will be taken in interims would be risky as could be unwound.
Expect therefore a poor interim operational and poor pbt result.

[charo] 03/7/2023 02:50

More senior management changes,see linked in.

[charo] 24/6/2023 14:51

Sure keep selling assets reduce debt but operations will continue to underperform.Repeating mantra objective to increase margin to outperform won't make it so.Look at interim Ceo previous disastrous leadership roles.

[castleford tiger] 23/6/2023 16:38

charo
post 846

Debt has been cut and will be cut further later this year.......

I dont think the Divi will be cut at all.

tiger

[charo] 23/6/2023 07:44

When will lenders step in and prevent dividends being paid from what ,after all ,is their money.

[1tx] 22/6/2023 17:06

The problem for Robinson is that their customers,typically food,cleaning,toiletry product manufacturers are also under huge pressure from their ultimate customers,usually supermarkets & discount retailers not to increase their prices.We end up getting a time lag before you can pass on prices & margins are squeezed all down the supply chain when we are in a high inflation period.

[ardee] 22/6/2023 16:12

I have to say that I found the statement most disappointing. Not clear as to why the CEO is leaving. Why they do not have a more aggressive pricing policy. And for such a small company why do they operate from so many plants - which must stretch Management control.

[1tx] 22/6/2023 12:00

I can't understand either assuming we are talking about profits excluding exceptionals,ie property profits.