Up Global Sourcing Share Discussion Threads

[ieh fan] 13/9/2017 08:29

No chance, Mark

[markycrispy] 13/9/2017 08:26

Retrace ! have got another order in around 96p to buy more

[ieh fan] 13/9/2017 08:11

Good start.

[markycrispy] 13/9/2017 08:10

Smart cookies those Schroeder and MMs certainly know how to get your shares - Impressed I saw only people buying here - let's hope for a nice recovery

[nw99] 13/9/2017 08:10

Added more

[kirk 6] 13/9/2017 07:28

Let's see these make a massive overdue recovery today

[markycrispy] 13/9/2017 07:25

Onwards chaps !

[darola] 13/9/2017 07:23

Wrong column! 5.4m

[mister md] 13/9/2017 07:16

Schroders buys 6%. !

[kirk 6] 13/9/2017 07:13

Great news and vote of confidence

[comedy] 13/9/2017 07:12

There is on 82.1mill shares in issue!!!

[darola] 13/9/2017 07:10

So at the point everybody else was selling, Schroders grabbed 82.1m shares!

There's your confidence vote right there!

[valhamos] 12/9/2017 20:46

Pugugly

B&M is UPGS's biggest customer. A proportion of its purchases are priced in US dollars and it uses forward currency contracts to hedge. I believe Tesco does the same.

[pugugly] 12/9/2017 20:03

Valhamos: Thanks for that - When I used to import I either bought cIF or via a UK situs agent with a fixed price in sterling.. I certainly cannot see a major mult agreeing to take the currency risk unless they have a hedge in place. However maybe the comment in the rns about "buying from stock" means that UK situs customers are buying in sterling from landed goods held in the UK distribution centre.

[fillipe] 12/9/2017 19:49

rafieh - I thought the same and maybe you are correct, but on my L2 it is coded as just an "O" ordinary trade, even if it did come just over 1 minute after the 1630hrs close.

Good to see it anyhow and looking forward to tomoz.

f

[valhamos] 12/9/2017 17:19

Pugugly

"According to the Times article 3/4 of revenue comes form Britain so might well be hit hard by the fall in sterling - Views ?"

Yes but less than you might think as over 50% sales invoiced in US dollars so naturally hedged.

[ieh fan] 12/9/2017 17:15

A whole load of HUGE shorts closed today.
In at 94p: let's see how we go rest of the week.

[kirk 6] 12/9/2017 16:53

Big move higher likely tomorrow

[rafieh] 12/9/2017 16:51

Filipe It's a delayed trade.Would've been nice though....

[john09] 12/9/2017 16:32

It's ok found itA growth warning has halved the share price of Ultimate Products only six months after its senior managers took home £50 million in a flotation.The company behind brands such as Salter and Beldray household products said that trading conditions had deteriorated to such an extent since the end of the financial year that it was unlikely to generate any revenue growth in the coming 12 months.The company had boasted of 22.3 per cent revenue growth between 2014 and 2016 in its initial public offering prospectus.Its extremely bearish outlook in a pre-closing trading update yesterday caused its shares to plummet by 106p, or just over 50 per cent, to 104p.Andrew Gossage, managing director of Ultimate Products, who banked just over £10 million at the float in March, said that the decline in performance in recent weeks had been a result of an overall "tougher environment" for general merchandise.He said that consumer discretionary spending was under pressure and that rising food price inflation was leading to lower confidence overall among shoppers, "which is inevitably being reflected in purchasing behaviour".Other directors also made handsome gains when Ultimate Products joined the stock market. Simon Showman, co-founder of the company and chief executive, made £23.7 million, while his fellow co-founder Barry Franks banked £13.1 million.Some of the company's biggest City shareholders are also sitting on paper losses. They include Blackrock, Schroders, Legal & General, M&G and Royal London Asset Management.It is a sharp fall from grace for Ultimate Products, which floated at 128p a share and whose stock price had been on the rise since then, helped in part by the announcement of an interim dividend at the half-year. On Friday its shares closed at 210p.Yesterday's surprise warning was buried at the end of an otherwise upbeat statement about its trading in the year to July 31.One market source said that Ultimate Products had been billed as "a high-growth story and everyone got quite excited about it" at the float, where it was advised by Cenkos Securities, which is believed to have made £1 million in fees, and Bell Pottinger, the public relations firm that is fighting for its survival. The source added: "This outlook statement is very bearish so it seems as if consumer sentiment has fallen off a cliff."Ultimate Products supplies its merchandise to supermarkets and general retailers and although it operates in 38 countries, three quarters of its revenue comes from Britain. It is trying to increase its international exposure and says that it is gaining traction in Germany, but it is vulnerable to the vagaries of the UK's highly competitive retail market.Revenue growth at Ultimate Products in the coming year has also been affected by a change in a contract with one European retailer, which has pushed between £4 million and £5 million of revenue into the 2019 financial year.Mr Gossage said that he believed that the company was well positioned to ride the consumer downturn and that any concerns that Ultimate Products' flotation had been over-hyped were incorrect. "We have spoken to investors and we do think this is a situation of the moment but fundamentally we are a very strong business," he said. "The management own half of the equity in this business and we are rolling up our sleeves to get this sorted."Ultimate Products, which also sells Russell Hobbs cookware under licence, said that its group revenue would rise by 39.1 per cent to £110 million and its underlying profits for the year would be above market expectations.

[john09] 12/9/2017 16:09

Hi Could anyone please copy paste the article from today's The Times please - I'm working abroad ATM so can't grab a copy

[rafieh] 12/9/2017 16:08

A close above 100 would be good. A close in blue would be excellent.Well done to those who bought below 95p.

[turbocharge] 12/9/2017 15:51

Looks like they don't own the brand

[rafieh] 12/9/2017 15:42

So Henderson group have sold at least 8m shares over the last couple of days. That would explain the sustained drop. Now if they are done with their selling, we can hope for a quick bounce.