Theworks.co.uk Share Discussion Threads

[sooty snipes] 14/2/2024 09:03

Are you still on the sidelines darrin?

[darrin1471] 14/2/2024 07:59

"Kelso will identify, engage and unlock trapped value in UK listed companies. Through active engagement and alignment with other stakeholders, taking stakes directly, Kelso aims to effect change where existing shareholders are often unable or unwilling to do so themselves."

[kaos3] 14/2/2024 07:48

Hard to explain but - from the rns

Biographies:



John Goold is Chief Executive Officer at Kelso Group Holdings plc. He qualified as a chartered accountant in London with Touche Ross in 1996 before a 25 year career in the City raising growth capital and advising small and mid cap companies. John initially started in corporate finance before moving into equity sales and corporate broking where he spent most of his career advising smaller listed companies on stock market issues. During his career, John has helped raise over £5.0 billion for his clients much of which was while he was Chief Executive of Zeus from 2012 to 2021. He is currently a non-executive director of Oncimmune Holdings plc and Boohoo Group plc.



Mark Kirkland is Chief Financial Officer at Kelso Group Holdings plc. He qualified as a chartered accountant with Price Waterhouse Coopers in London and has gained extensive corporate experience gained over 30 years having held numerous senior roles in public and private companies. Mark's initial career was in corporate finance predominantly with UBS. Mark has been CFO of numerous public and private companies and latterly was CEO of Delin Property, a pan European Logistics developer, investor and manager. He is currently a Non-Executive Director at Strix Group plc and AEW UK REIT plc and previously an adviser to DP World.

[crumppot] 14/2/2024 07:35

Kaos3 please explain

[crumppot] 14/2/2024 07:35

Kaos3 please explain

[kaos3] 14/2/2024 07:09

2 from Kelso. Is that normal?

[chinahere] 04/2/2024 11:58

The Theo Wikipedia is a good read:

[omron] 04/2/2024 09:25

I don't see Theo Paphitis buying this and am sure that £25m would not fly. I also doubt a £40m bid would succeed. Almost half the shares are held by a handful of investors.

[harry_david] 03/2/2024 21:40

I heard Rymans had liquidity problems. Any retailer with nearly £300 million of turnover and no borrowings is dirt cheap at £14 million. I would not sell for less than a capital valuation of £40 million.

[darrin1471] 03/2/2024 17:51

The Works would be a good fit with Rymans and Rymans has a history of acquiring competitors. Partners with 86 stores and 61 stores of Stationery Box.
Ryman’s turnover £100m vs The Works £280m

[strikehot] 03/2/2024 15:42

Rymans to take it private, 25m being touted

[crumppot] 26/1/2024 10:45

I cant believe that WRKS are doing that badly, that they are valued so lowly. They have over 500 shops and although Xmas trading was down, I am surprised at such a drop in the share price. I wonder what the fund that bought in recently must think?

[s34icknote] 25/1/2024 14:24

Think this touched 17p in covid lock down !Next support ?

[s34icknote] 18/1/2024 12:11

Card much better than works Works seams a lot quieter last year than year before

[darrin1471] 18/1/2024 10:36

NLW up 9.6% means the government receives more in tax receipts and has less to pay out in working tax credits.
Those on the lowest incomes were hardest hit by price inflation. NLW and pensions give an income boost after April.
Higher service inflation will keep inflation higher for longer. UK rates will be slower to fall than US. Sterling will be stronger making imports cheaper which will counter balance higher wage inflation in services.

[glavey] 18/1/2024 09:04

"The two best bargains on the market, Works and Card."

...wrote the two best investors in the market, Harry and David.
;-)

[castleford tiger] 18/1/2024 09:01

ITS very tough at the end where they are. I dont fancy this one bit

tiger

[crumppot] 18/1/2024 08:39

The results weren't great. No dividend or share buyback.

[harry_david] 18/1/2024 08:25

One more instance where a better than expected report sees the share price tumble. The two best bargains on the market, Works and Card.

[kaos3] 18/1/2024 08:06

as feared. wrks is good times operation.

they should partially reinvent them self to offer a ..non discretionally needed line ..... to draw customers into the shop. then they will buy present stuff items on the offer - which can be bought every where around.

otherwise excellent management and report. i wish this management would not ride a donkey but a horse.

harsh but that is my opinion

the best jockey can not win riding the donkey /selling stuff in wrks case/

i will stick as the management is excellent as far as i can tell

[harry_david] 13/1/2024 09:48

Trading update this week. It has been a tough Christmas for most so not anticipating much. However, am sure the longer term is much better.

[harry_david] 26/12/2023 16:52

Good point darrin and in what is generally described as a slow Christmas they have some steep hurdles. Even so the Works are still making progress in controlling costs after the excesses pre-covid and with their financial freedom have another cost saving advantage over most competitors.

[darrin1471] 26/12/2023 11:14

From last annual report: FY ending 30/04/23
"Store payroll costs increased by £3.3m. The annual rise in the National Living Wage (NLW) accounted for £2.1m or 64% of the year-on-year increase, including the additional cost of maintaining sensible differentials between pay grades for colleagues paid more than the NLW, in light of the increased base wage level."

So in March 2023 NLW was 25+ £9.50, 21-24 £9.18, 18-20 £6.83. A 7% rise on the previous year. Only one month (April 23) was included in YE 04/23


NLW for 2023/24 is 25+ £10.42, 21-24 £10.18, 18-20 £7.49. About a 10% rise.
7% = £2.1m in FY23, so 10% = £3m for current year.


NLW starting April 2024 is £11.44 FOR 21+ and 18-20 £8.60. Please note a 21-24 year old receives a 12.4% pay rise. So the bill for NLW in the year starting May 2024 is £3.5m+

The cost to the works for NLW in fy24 and fy25 is about £6.5m

PBT FY23 £5m

That is quite a headwind for the next year

Those figures are for "store payroll". How much for central payroll?

I hold no position long or short in the works