SSL International Share Discussion Threads

[jonny modnoc] 24/10/2008 12:06

but with both the share price and the pound so weak, the business suddenly looks very cheap to Johnny American, especially given the fundamentals of SSL (recent trading)

[jonny modnoc] 23/10/2008 20:57

possible, i am sure glaxo could use their scale to leverage the brands and generate much higher margins

[chevey] 23/10/2008 20:09

Volume is low, holding £4 by the skin of there teeth. Noboby has any money to invest. I think when this move's it will move fast and up, held these for six years, not about to give them up now.
Do you think SSL as a target for glaxo.

[jonny modnoc] 23/10/2008 15:50

can you believe how cheap these got despite the strong trading news, the favourable currency movements and dont forget the sector takeover at 3.4 times sales

[jonny modnoc] 23/10/2008 08:32

GlaxoSmithKline, the UK's biggest drugs group, is set to embark on a programme of acquisitions as increased competition from generic rivals, and falling sales of its established treatments, has put pressure on the group's traditional markets.

The chief executive Andrew Witty, who was appointed in May and has since announced a change of tack that will see GSK attempt to expand its consumer healthcare and emerging markets operations, added that the group had undergone a "tough transition period" in the last year.

[jonny modnoc] 22/10/2008 23:50

GlaxoSmithKline, the UK's biggest drugs group, is set to embark on a programme of acquisitions as increased competition from generic rivals, and falling sales of its established treatments, has put pressure on the group's traditional markets.

The chief executive Andrew Witty, who was appointed in May and has since announced a change of tack that will see GSK attempt to expand its consumer healthcare and emerging markets operations, added that the group had undergone a "tough transition period" in the last year.

[jonny modnoc] 22/10/2008 23:50

paul dunno. but with the pound falling you would think this year would be significantly more than 320 x 2

[paul w] 22/10/2008 18:09

JM What revenues are Cazenove forecasting now? Thanks in advance

[jonny modnoc] 22/10/2008 09:40

gosh. interims in a ferw weeks will be interesting - they said sales in the period were over £320 million - i wonder how much over

[enami] 22/10/2008 08:54

According to the May results full year sales were £533.9 million.
Multiply by 3.4 = £1.815 billion = 946p per share

Current Market capitalisation @ 417p = £800 million

[jonny modnoc] 22/10/2008 08:40

whats the SSL share price at 3.4 times sales

[jonny modnoc] 21/10/2008 23:52

Some industry analysts believe Glaxo is in the market for substantially
bigger deals to bulk up its non-prescription healthcare business, though finding an acquisition that stacks up financially may not be easy.
Over-the-counter healthcare products are in strong demand from both
pharmaceutical and consumer goods companies because they engender fierce brand
loyalty among users.
The result is that such products command high prices, as reflected in the fact that Glaxo is paying 3.4 times historic sales for Biotene.
Glaxo has lost out in the past in bidding for the over-the-counter
healthcare businesses of both Pfizer Inc and Boots to Johnson & Johnson and
Reckitt Benckiser Group Plc, respectively.

[jonny modnoc] 21/10/2008 15:41

Does today's Glaxo consumer healthcare aquisition make SSL look cheap?

[enami] 20/10/2008 16:22

FTSE250 shares not doing so well today.
Added here at 422.

[jonny modnoc] 20/10/2008 15:28

is this a rest day, or is someone trying to shake the trees before moving higher?

[jonny modnoc] 20/10/2008 13:08

A very suspicious market today

[jonny modnoc] 20/10/2008 08:45

Mail on Sunday

Look to SSL long term

A few brave commentators and steely nerved high-rollers are beginning to sniff around for the bargains of the market crash.

For those willing to join them, one share worth considering is SSL International. The group is known for two major brands - Scholl footwear and Durex condoms.

Supporters of the shares argue that there are certain pastimes in which the public will keep on indulging even during a major economic slowdown - and looking after their feet is one of them.

A trading statement from Scholl last week appeared to confirm this. Sales in the six months to September were up 22% on the same time last year.

Part of this was due to currency movements as sales in European countries translated into even better figures in sterling because of the high value of the euro. That might change if the euro were to weaken.

But even stripping out that effect, sales were still up 9%. The complete half-year results are due on November 25 and it looks like the numbers will be strong.

The group has undergone a restructuring over the past year, which has hit its bottom-line figures, but underlying profits are still rising. Cash flow is also strong.

Shares in SSL have slumped this month, but after last week's trading statement they regained their poise and ended Friday at 444p.

• Midas verdict: On a long-term view, SSL is a relatively safe investment that should be more than capable of surviving recession. Given that essential resilience, its recent share price fall looks overdone.

Once the irrational fear has left the market, this will be one of the survivors and its value should bounce back. At these levels the shares are a buy for the long term.

[chevey] 19/10/2008 12:51

Should do well next week, all over the papers this weekend, under valued.

[jonny modnoc] 17/10/2008 16:25

can you see these at 500, 550 soon

[chevey] 16/10/2008 18:57

If Spain had done OK we would be back around the £5 mark. Lol

[chevey] 16/10/2008 18:55

Guess the market just ain't ready for a bargin.

Garry Watts, chief executive, said there was further potential for growth in spite of the downturn. "Both brands are massively underexploited," he said. Only Spain, of the 40 countries it operated in, had seen a weakening in demand. We are in a lot better position than many. They are personal products people stick with for the long term."

Mr Watts added that further eastern expansion would increase sales.
Long a rumoured acquisition target, he said SSL would be keen on adding to its two core brands should a similar property such as Elastoplast become available. Recently it bought an Australian maker of orthopaedic heels, which built on Scholl's products.

It is buying BLBV, which owns Russia's biggest condom brand, in two tranches to ensure the business is sound. It has the option to raise its stake from 15.5 per cent to 50.1 per cent in April 2009. That also gave Durex access to distribution channels, Mr Watts said.

Mr Watts defended SSL's ability to continue alone, although admitted its size constrained the pace of growth. "We are still relatively small. We have to pedal quite hard and use innovation and our initiative. The question is how fast we can drive innovation given the size of the organisation."

He said bid talk had been fuelled by market rumours from those seeking to profit by it. "We have been a bid target for the seven years I have been here," he said.

[jonny modnoc] 16/10/2008 11:20

holding up very well. one of the strongest stocks in this market