Scs Upholstery Share Discussion Threads

[barn owl] 10/1/2008 15:30

40% discount seems about right for now, unless of course they are going bust!

[barn owl] 10/1/2008 14:52

Double discount on shares today! Have they stopped advertising on tv and in the paper's?

[cockneyrebel] 10/1/2008 14:26

10p support imo. They will be in such a mess any cash they have will be lost down the side of the sofa.

LAN worth shorting ahead of a very gloomy confession by SUY I imagine - LAN should get a wacking then too.

PDG another screaming short (I see Frauddy is making that a life changing investment too). Huge debt, poxy assets that they are selling to try to raise cash. US exposure - guess what, US car sales down 8%. UK shoppers skint and indebted - cars are an easier thing not to buy than a sofa too! A conviction short for me - T/S Feb 15, the day after the St Valentine's Day massacre anniversary.

CR

[mister md] 10/1/2008 13:53

Thought I'd got a bargain at 108p...oh well, the 500,000 director buy was even more impressive...

[kiwihope] 10/1/2008 13:28

Oh well, at this rate of decline I calculate the share price will reach 0p in 3 more weeks! The share price has now fallen by the magic 90% in less than 12-months. I can't help feeling management have to say something before the end of the month ...

[stevedeer] 10/1/2008 13:22

'lan is a better bet'

not if you're betting down!

[typo56] 10/1/2008 13:21

No problem covering the divi. Simply increase the depreciation charge!

[stevedeer] 10/1/2008 13:21

and it will freefall after the update

[millionairefools] 10/1/2008 13:20

this ones gettting screwed. lan is a better bet..

imho

[hamidahamida] 10/1/2008 13:16

in a free fall till we get update

[cockneyrebel] 10/1/2008 13:14

kiwihope - I was posting above because I have a contrary view to your own. That's quite healthy imo. Although we don't often like to hear a contrary view it's better to hear it than get sycophantic agreement from fellow holders while you make a big mistake imo.

The yield here is now 39%. That is usually an indicator of something very wrong imo.

As Frauddy was sayin gwhen the yield was 20% and the share price £1, if they halve the divi it would still be good. But now even halving it looks optimistic - I'd say it's rubbed out.


I'm sure Frauddy will be the one to turn the lights out.

CR

[kiwihope] 10/1/2008 10:37

Hi Holmess,

Long time no hear. STS seems an age ago doesn't it.

The price here certainly seems to be dropping like a stone. I can't help feeling management will have to release something soon ...

Little Hen ... yes, I think that was Courts, but IIRC they had massive debt. SCS doesn't have any debt at the moment.

[little hen] 10/1/2008 10:33

Wasn't there a big furniture company that went belly up a couple of years ago? what was the story there?

[stevedeer] 10/1/2008 09:45

agreed... the trading statement will be horrible and it will tank even further

[spursspurs] 10/1/2008 09:36

agree have been looking to get back in but keeps dropping!!

[holmess] 10/1/2008 09:34

spurspurs - foot soldiers have a better view of the battlefield than generals ;)

I think waiting for trading update before investing is probably the way to go here though.

[spursspurs] 10/1/2008 09:13

Holmess I know someone higher up who bought a few in December at £1.05!!

[holmess] 10/1/2008 09:10

Hey KH - how goes it?

I know a store manager who works at SCS, they bought a few last week, fwiw.

[kiwihope] 10/1/2008 09:03

CR,

You certainly like chewing the fat. You've said you think SCS is going bust - now why don't you leave it. There are some of us who are prepared to risk that it isn't. Neither of us know - I'm sure SCS management don't know - yet. You may be right, we may be right ... let's just wait and see.

[csmwssk1] 10/1/2008 02:09

freddy, 10 years working in large furniture stores, working with people who have worked and still work in scs and lol, 4 years of running my own furniture import business, dont tell me a store like scs only does 3 deals a day, also look hard at these figures and tell me what you see
* Revenue #113.4m (2006: #107.3m) Up 6%

* Gross margin 48.2% (2006: 48.3%)

* Group trading profit #3.9m (2006: #9.3m) Down 58%

* Profit before tax #4.7m (2006: #10.3m) Down 54%

* Earnings per share 9.20p (2006: 20.98p) Down 56%

* Net cash #16.1m (2006: #25.0m)

* Interim dividend per share 7.0p (2006: 7.0p)

* Like for like sales order intake - First 32 weeks Down 10%

[csmwssk1] 10/1/2008 01:52

may not get one this year then

[kristini2] 09/1/2008 19:54

anyone know when the next trading update is due? Last year twas in feb