Sivota Share Discussion Threads

[bookbroker] 19/1/2017 21:35

Pension deficit hardly a concern, keeps getting mentioned by posters, never heard a sausage from the company!

[qs99] 19/1/2017 21:03

2nd profit warning in 12 months is not going to endear them to the city IMO. Pension deficit, earn outs, be very careful is all I can say!

[isis] 19/1/2017 21:00

Bit mistimed this morning:-

St Ives PLC SIV N+1 Singer Hold 76.00 126.50 182.00 182.00 Downgrades
St Ives PLC SIV Numis Buy 76.00 126.50 190.00 155.00 Retains

[bookbroker] 19/1/2017 20:19

The businesses they bought are creative staff operations, owners might have gone, but the employees are the ones with the creativity, don't think that the MD. is the only person who counts!

[waveneygnome] 19/1/2017 18:55

Are you joking? The book business is the ONLY business holding the thing together/generating solid steady profit.

Clays has £11m in the bank........and pays £5m divi's each year to the parent company.....and has done so for the past 5yrs.

Clays has been raped and pillaged and starved of investment by the parent company. I was fortunate enough to have a factory tour a year back - the old buildings reeked of underinvestment....leaking roofs, un-even floors, shabby deco.

Come to think of it....perhaps it would be a good idea to sell of Clays........they might get a better owner who values the business and is prepared to back the mgt in there investment decisions.

As for the strategy of the rest of the group.......the Directors have overpaid for small growth companies in the hope of growing with them. This growth has not happened. The original owners who sold out have cashed in, moved on and said thank you very much......but there businesses are now a shadow of what they were - with the supercharged turbo creative business owners now out of the picture.

Luckily though, the Board are happy with the present strategy.

[diku] 19/1/2017 18:29

Is it Harry Potter writer keeping books going...is it not a one trick pony?...

[bookbroker] 19/1/2017 18:25

They should sell Clays to be honest, can't see the point of holding a print business when this is essentially a market research entity, even if books provides steady earnings!

[edmundshaw] 19/1/2017 18:15

It does make me wonder if the reaction is a bit, well, reactive. The price was already still feeble given 17.6p adjusted EPS from last year (a drop from 20p or so the previous year), and probably rightly so given the adjustments and the ongoing problems in Market Activation. But surely, in that case, the current disappointing update was already partly in the price?

[bookbroker] 19/1/2017 18:10

They have no problems with debt covenants, can still pay the dividend with a 20% drop in pre-tax, and can likely reduce debt through cash flow, probably a good price!

[warranty] 19/1/2017 18:07

I'm gob smacked frankly. The TS was disappointing but surely wasn't worth a 40% drop. I don't think I'll add yet but what I do have will definitely go in the bottom draw for now.

[edmundshaw] 19/1/2017 17:30

I think 40% markdown is a bit much too, at least on what we know. But that will not stop it going lower if punters just want to exit in case things get worse. And let's face it, this is not St Ives' first disappointment.

[boffster] 19/1/2017 16:35

What's the share price here guys? Good to see a few familiar faces (well, names, anyway)

Its not my usual market but a 40% decline on a not-dreadful statement looks overdone. debt looks a bit high but earnings cover looks good enough. A cut to the dividend I think is priced-in.

[diku] 19/1/2017 15:56

Anybody who bought this last July would have been wise to sell around 140p...double your money & run....if in decent profit then take the money....holding for the long term is a mugs game...

[elsa7878] 19/1/2017 15:53

The problem bar the trading update is the contingent payments that might be due for acquisitions. The mobile deal for £25 million had further possible payments of £30 million attached. That could take up all cashflow and mean debt repayments will not happen. They need to get debt down as a priority. Tread carefully.

[blueball] 19/1/2017 10:41

I would buy at around 40p no more.

[davr0s] 19/1/2017 10:21

There was always high risk of this happening after last year. Divi must be at major risk now. Staying well clear for the time being and not trying to catch any bottoms. A lot of work needs to be done to sustainably rebuild any sustained share price trend IMO

[cwa1] 19/1/2017 10:11

Morning

Just had a very modest, probably mad, punt at 79. Certainly a poor update and it poses genuine concerns, hence the very modest part-but hoping that a "40% off" marked price sale means there is at least some scope for recovery taking a medium term view. Time will tell of course.

[declan2] 19/1/2017 10:10

Probably value at these levels, but it will visit the low 70's

[spob] 19/1/2017 08:49

Asset held for sale 1.4m

Okay i see they were shown on the last balance sheet at approx 1.4m, so probably not material

[spob] 19/1/2017 08:46

11. Post balance sheet events

On 28 September 2016, the Company sold the freehold land and building of its Burnley site which, at the balance sheet date, was recorded as an asset held for sale.


Anyone know how much these assets were sold for ?

[spob] 19/1/2017 08:40

House brokers are

FinnCap Limited
Canaccord Genuity Limited

[spob] 19/1/2017 08:37

As of 4 October 2016


Current assets minus TOTAL liabilities = minus 98m

I gather they have paid divis since then so may be lower than that now

included in that figure was a pension deficit of 26.4m


current market cap at 80p = 144m


be interesting to see what the new forecasts are from the House Broker

[sefton1] 19/1/2017 08:34

Can't be bothered to tell you!

[bookbroker] 19/1/2017 08:32

What is the pension deficit in this co. , can't be bothered to look!