Swallowfield Share Discussion Threads

[spooky] 16/6/2005 13:11

I only have a tiny position in these so i hope the buyers don't get too carried away.

[hybrasil] 15/6/2005 09:35

Arthur As i said above I have dipped my toe here at 66p and have a further bid out at that level.

[spooky] 09/6/2005 16:39

Arthur - No i don't think that's too optimistic but i don't think that is the whole story.Once the Paterson deal has traction,the Chinese outsourcing is in full flow and the retail environment is more benign these could really fly.Add the yield (if maintained ) and the true value of the assets (possibly twice the current market cap.) and you have a classic value/growth story.It is however all about timing.

[lqs] 09/6/2005 16:11

I bought some today mainly because of the property assets. They are valued at 8M based on cost or latest valuation at 2003. Book value is 5.8M. Accumulated depreciation is over 2M which makes me think the properties valued at "cost" were purchased quite a few years back. Id imagine the freehold property alone is worth considerably more than the current market cap. By how much I dont know. On the downside there is a 2.5M pension deficit.

[arthur_lame_stocks] 09/6/2005 11:08

That's true Hybrasil, we obviously both like asset/breakup type things.

spooky, looking at it again briefly, if they broke it all up I wouldn't be too surprised if it was worth 1.50 a share or do you think that's a bit optimistic?

Perhaps I should think again about buying a few.

[hybrasil] 09/6/2005 10:47

Arthur
We really do cross paths a lot.

[spooky] 09/6/2005 10:34

They are definitely cheap and there is a good medium term story, the question is how will the stockmarket handle the next couple of trading statements.Long term i have no problem buying at this level but the cautious amongst us may feel it safer to wait for the next trading statement.

[arthur_lame_stocks] 09/6/2005 09:47

I'm still watching these Hybrasil. I reckon there could be some value in there in the business and assets. Not buying yet though, I think the results may be poor so they could have a bit further to fall and they don't strike me as really cheap yet.

[hybrasil] 09/6/2005 09:25

anyone any views?

[hybrasil] 16/5/2005 15:04

well I dipped my toe bought 20k today at 66p

[hybrasil] 09/5/2005 11:57

very glad I didnt buy on the 20th april could have a bit to fall yet (from the graph). Nothing to prop the price in the short term and the next set of results could send it down further.

[lqs] 09/5/2005 11:49

are there any analyst forecasts?

[hybrasil] 09/5/2005 11:46

I reckon its a continued reaction to the trading statement and poor stock market conditions

[spooky] 09/5/2005 11:42

Well i don't own them either yet,but at this level i feel i should.Would someone like to enlighten me about the fall over the last couple of days,is there a tip sheet that has sold ?

[hybrasil] 20/4/2005 21:17

I suppose at this level it is probably worth buying but I havnt yet.

[spooky] 24/2/2005 10:06

Agreed,but for those of us that do not have a position it may give us a chance to get on board.

[andysand] 24/2/2005 08:44

The problem here is the thinly veiled profit warning concerning the second half earnings. Any note of caution always causes some alarm.


Andy

[spooky] 24/2/2005 08:37

With sourcing and production moving off shore it's an interesting story,but what really intrigues me are their tangible assets (land and buildings).They have not been revalued for a long time and are mainly valued at cost,a conservative estimate would suggest they are worth more than twice their balance sheet figure.Mayborn shows what can happen to margins when production is moved to the far east and the hidden assets make it an interesting medium term story.

[plutonian] 24/2/2005 08:20

Interims:

turnover increased by 5% from #23.4m to #24.7m

profit before tax increased by 68% to #0.6m

The Group has generated operating cash flow of #5.1m

net debt has been reduced by #3.6m to #5.2m

return on equity for the 12 months to 8 January 2005 was 10%

dividend maintained (aim of pursuing a progressive dividend

policy remains)

[cockneyrebel] 18/1/2005 10:27

Certainly looks very cheap still

CR

[andysand] 18/1/2005 10:23

Yes, performing really well at last. It seemed such an obvious buy at 80p I can't believe it got so low! Still very cheap on fundementals, and technicals point to at least 120p before it slows its pace.


Andy

[ntv] 11/1/2005 09:20

and again today

[ntv] 10/1/2005 17:36

nice tick up today

[ntv] 09/1/2005 21:12

that big buy should have cleared the overhang