Robinson Share Discussion Threads

[cfro] 10/5/2024 17:58

Thnks for replies and providing some background info. Have only come across this company for the first time hence know nothing about the history of the company.

[1tx] 10/5/2024 16:43

Actually Robinson was at one time a much larger company;over a few years prior to its listing on AIM in the early 2000's.Robinson & Sons Ltd as it was known sold off & demerged its various businesses in the healthcare manufacturing sector & returned a large amount of capital to its shareholders,mainly family members.The only business retained in Robinson PLC were the packaging ones together with surplus land and its well funded pension scheme.Post listing the Polish & Danish companies have been added.The transfer of the pension scheme to an insurance company now makes the company more attractive to takeover as a potential liability has been removed.If the surplus properties are sold and business improves in line with trading update it will be an even better prospect.

[baner] 10/5/2024 15:41

Most likely family members - i would not be surprised if they would consider a good offer for the company in 2025, once the remaining properties have been sold.

[castleford tiger] 09/5/2024 16:39

Worth 150 on what we know

[cfro] 09/5/2024 15:05

Looking at the major shareholder register and i see there is only one other male on there along with new shareholder PG, all the rest are females..

I assume they are all family/family related ? Can anyone clarify thnks?

[baner] 09/5/2024 10:14

Correction: the EBIT Forecast is before depreciation on Intangibles, so 3.0m should be the number. Still really good and EBIDTA should be 35p or better per shares. When debts are repaid from property sales, the value of the shares at 5 times EBIDTA will be 175p+ based on the 2024 projection. With scope for better results again 2025 onwards.

[baner] 09/5/2024 08:57

Castleford

And value there is ! This is looking increasingly good. When the depreciation of Intangibles is added back, which they should, EBIT should reach 4m in 2024. As remaining properties are sold, the company will be debt free and generate 35-40p of cash flow pre CAPEX. Rather impressive, with a low risk as well. It seems PG spotted a real gem here - well done!

[castleford tiger] 02/5/2024 11:59

he clearly sees value here

tiger

[davidosh] 19/4/2024 16:47

Good to see PG on board...I have been in lots of companies with him over the years

[ardee] 19/4/2024 16:33

Yes PG will certainly shake things up and not before time.

[charo] 19/4/2024 15:39

New ball game.PG is serious player. As to tiger what earnings justify your valuations.
Operating profits are minimal.

[charo] 19/4/2024 15:37

New ball game.PG is serious player.

[ardee] 26/3/2024 13:53

Selling the family silver to pay annual dividends of £900K is not a good use of capital. I prefer to see dividends paid out of earnings.

[baner] 22/3/2024 14:42

ardee - are you suggesting that they cannot afford to pay a dividend currently ? the remaining excess properties will be sold for more than the current net debt, so pro forma that they will be in a net cash position. EBIDTA should be £7m/year and growing - so what is the problem with paying a divi?

[ardee] 22/3/2024 13:23

This company should not be paying a dividend when it cannot really afford to do so.
It will only be when they stop that family members will want to sell.

[baner] 22/3/2024 07:59

This is an obvious take over target. Family members likely to accept a bid at appraised NAV which including additional property surplus values is 150-170p. Very low risk, with pro forma net cash as real Estate is sold, and an EBIDTA approaching 40p per share 2024/25.

[charo] 22/3/2024 07:54

So long as family receives dividends will remain pedestrian performers.

[charo] 22/3/2024 07:54

So long as family receives dividends will remain pedestrian performers.

[castleford tiger] 22/1/2024 08:37

I am sure the idea is to become slimmer and slicker so that the company can make profits every year.

Selling off assets ,such as old sites is pretty normal and removing debt from the business a game changer.
Its been a difficult few years but if we get a good CEO this company could go places.

tiger

[ardee] 19/1/2024 17:04

I wish I could agree. The company is slowly selling off the “family silver “ that will be used to pay down debt and for capital equipment and dividends. The company needs to up its revenue and margins so that it can generate enough cash to support the business.

[baner] 18/1/2024 14:49

tiger - total agreement - there will be a really strong cash flow in Robinson going forward. together with property sales this will turn the company into an increasing net cash position - room for a good increase also in the dividend. NAV probably 150p+ once real estate is sold - EPS should reach 20p+ in 2024/25.

[castleford tiger] 18/1/2024 11:23

i think thats all looking pretty good.

I can see the shares moving up a fair bit this year

tiger

[charo] 12/12/2023 09:58

We had a trading statement on year end at this time last year.