Must confess I was thinking this was heading down the plughole; glad to be wrong . Only another 150p to go and then I will be back in the blue...
Can't believe I have been holding these for 15 yrs. I specialise in picking lemons. |
 https://citywire.com/funds-insider/news/expert-view-kin-and-carta-dunelm-easyjet-topps-tiles-and-greencore/Growing Topps Tiles is good value, says LiberumTopps Tiles (TPT) remains good value after strong full-year profits and growth in all markets, says Liberum.Analyst Adam Tomlinson retained his 'buy' recommendation and target price of 100p on the tile retailer, which closed up 1.5% at 40.6p on Tuesday.The company's full year 2022 profit before tax of £15.6m beat his £13.8m forecast 'driven by another year of record sales'.Tomlinson noted the 'very healthy balance sheet' but 'prudently' left forecasts unchanged for 2023 as he is 'mindful of near-term macro and potential consumer headwinds'.'That said, with all divisions in growth, self-help driving market outperformance and continued progress towards its "one-in-five by 2025" UK market share target, Topps' omni-channel model positions it well to further embed its market leadership,' he said.'The shares remain good value, offering a current year 9% dividend yield and double-digit free cashflow yield.' |
prokartace, they aren't using any of it now but that isn't necessarily the case throughout the year |
Confidence with the dividend. What I was looking for. :) |
The new facility contains a slightly favourable interest rate structure compared to our previous GBP39.0 million banking facility, which was due to expire in June 2023, and provides continued balance sheet strength and financial resilience for the Group into the medium term. At the year end, no banking facilities were drawn (2021: nil). Based on our year end net cash of GBP16.2 million we have GBP46.2 million of headroom to our new banking facility at year end.
This is good that they have reduced the cost of banking facility. Having said that they aren't using any of it in any case. Net cash position of £16.2 mil |
Dividend 👍now I’m buying if they can’t lift the anchor |
Ms galleon should have taken Topps out at such a low price sitting here for ages. Great results today another record year and 6.5%coming soon |
Recent good results in every sector seem to be viewed badly by the market at the moment , so hard to be optimistic about share price response tomorrow. Hope I'm wrong. |
Results tmmw bud |
Maybe we have gotten out of the 38p to 40p trading range today. It's held a vice like grip for about a month now. |
Volumes so high, they've got a 0.1p spread on a micro cap that's pretty rare.The net cash position, referred to recently seems at odds with the last balance sheet, unless they have been really minting it. |
Might get in here soon volume picking up results soon |
The longer the price sits here the lower the lowball offer price will as be as these things go by 3 month or 6month weighed average |
Blooming hope so. Otherwise looks dead stock to me. Would get better return elsewhere. |
Gonna finally pull the trigger this week watched for a while now, performing so poorly just not reacting to anything but last 2 trading updates have been fantastic Topps was 80p when covid hit and we have a big institution who has a plan I see sitting on 29% holdings,also I’m expecting at least a 3p dividend in December considering these last 2 updates must be a news released very soon 🙏🏻. |
Nah mate. They trying to revive the. It's in intensive care. They need new buyers and new team. |
Is Topps still breathing dormant as can be 🧨 |
 Topps Tiles plc issued a Q4 Trading Update confirming another record year for sales with profits towards the upper end of expectations. Market expectations are for adjusted profit before tax for FY22 in the range £13.8 million to £15.4 million. The balance sheet remains strong, the Group has a positive net cash balance of approximately £15.9 million at year end, with no borrowings. Valuation is now also reasonably attractive with forward PE ratio at 8x and generous dividend yield over 7.3%. Momentum is lacking with share price in a correction through 2022 so far. Q4 sales performance was also a little softer than last year as the economy slows, like-for-like sales were down 1.2% on a very strong comparative period. But performance was still up 25% on pre-Pandemic FY19 numbers. There is a lot to like here, FY22 EPS will surprise positive, but there is no obvious rush to buy given the deteriorating macro environment...
...from WealthOracle
hxxps://wealthoracle.co.uk/detailed-result-full/TPT/562 |
A couple of things I'd like to understand more on:
The cash balance has dropped in the year from £27.8m to £15.9m, yet we are profitable "at the upper end of the expected range". How do you reconcile that? Paying £5.3m for 60% of the online platform is one answer, which leads me to the second point:
Why nothing on the profitability of the online business acquired and the implication for the full acquisition in 2023? |
Yes the initial market reaction was to mark the price higher around 10% but on a negative day and in the teeth of a bear market that hasn't held. None the less its a measure of how quickly this will rise once market sentiment improves |
MS Galleon AG owns Cersanit, a supplier of ceramic tiles. Probably explains the almost 29.99% shareholding. Doesn't want anyone else to get their hands on TT |
Well that's a relief , the bottom line;
Overall, the Group's adjusted profits for the year are expected to be towards the upper end of market expectations. |
MS galleon needs to press the switch very impressive results in todays climate |
I must be the only one expecting an uplift tomorrow -lol |
Well, I would just remind you that Adam Tomlinson of Libernum said after the last quarterly announcement "....the shares are ‘cheap’ on a current year 2022 price/earnings ratio of 7x, a free cashflow yield of 11%, and a dividend yield of 8%." That was based on a price of 39.9p so I'd expect no change in that view or his target of £1.10. Don't forget, as well as trading positively Tops has cash on the balance sheet, so while i might agree about not expecting anything good, I would equally contend we won't hear anything particularly bad |
Register for real-time alerts, custom portfolio, and market movers
Hot Features
Premium
