Victoria Share Discussion Threads

[aburyu] 27/5/2022 15:31

I took some at 495 only to see it fall further. Glad it has bounced since.

[drk1] 26/5/2022 17:45

Well, I opened a small spread-bet here today (the temptation was too great). Let's see where it gets me in 3-6 months time. ;-)

[theprovosts] 26/5/2022 15:43

Vulcan Value Partners picked up another 1m shares at £5.65 a couple days ago. Big iceberg got chewed through today. Wonder who the seller is? They seem to have picked a pretty bad price point (lowest price in 18 months) to get rid of several hundred k shares today. Good to see volume and hopefully the back of them.


Morgan Stanley crossed below 4% on 25 Feb 2022, and,
MIC Capital Partners crossed below 3% on 21 March 2021

[aburyu] 25/5/2022 16:08

wow, wasn't expecting 400s

[arthur_lame_stocks] 24/5/2022 17:45

Well i'm convinced that 22/23's results are going to be appalling but the interesting thing for me will be whether it is possible to tease a profit warning out of uber ramper Geoff Wilding.

[essentialinvestor] 24/5/2022 13:59

Spec, Headlam arguably lower risk fwiw. Head have traded through a number of downturns
staying profitable through out - all be it with reduced profitability during recessions. Not holding atm.

[spectoacc] 24/5/2022 13:52

Also worth noting the director buying - doesn't sound like a company going bust.

[sharemonkeymagic] 24/5/2022 13:49

Arthur, I'm sure that profits will take a hit to some extent, due to the squeeze in consumer spending, but the company are in a very strong position compared to other companies in the sector.

Most importantly, you are totally wrong about the debt repayment being due in 2024. As per the announcement 10th March 2021, the bonds are due August 2026 and March 2028 ...

Geoff Wilding, Executive Chairman of Victoria, commented:
"We are delighted with the level of support shown again from bond investors, which has enabled the entire €250 million issue to be placed in less than a day. Apart from the 1.58% average coupon reduction, which saves the Group c.£7 million of annual interest cost versus the original 2024 notes, completion of this refinancing means that the earliest of the Group's senior debt will not fall due until August 2026, with the notes issued today not due until March 2028. It is the Board's view that these long-dated bonds, in conjunction with the Group's strong cash generation, places Victoria in a very robust financial position.

[arthur_lame_stocks] 24/5/2022 08:51

You're correct, I have no position in this company either way, I just follow it as an interesting example of ridiculous valuations.

What really is there to like about this company?

It never makes a profit.
It has a huge negative net tangible asset value.
It has a massive debt pile and a E500m bond which matures in two years at a time of rising interest rates which it may not be able to pay back and has a junk bond rating.
It's facing high cost inflation and supply chain disruption as well as a squeezed consumer and a possible housing market correction or even crash.

I reckon if Wilding sold this he'd be lucky to get enough to pay back the debt let alone leave anything for shareholders hence I continue to believe the equity is fundamentally worthless.

Just my tuppence worth.

[rotrader] 24/5/2022 08:12

And how much have you invested in This prediction - my guess is zero .We have had the likes of you on this board before then when the predictions fall flat they move on somewhere else.Looking forward to that.

[arthur_lame_stocks] 23/5/2022 18:46

I'm expecting Victoria to have a truly dreadful 2022, even by their own already poor standards, with the possibility of going bust in 2023.

[drk1] 23/5/2022 13:47

See Blackrock have joined the shorting party by opening a 0.56% position here on the 18th. Hopefully they'll soon get burnt.

[arthur_lame_stocks] 11/5/2022 18:03

It looks like Wilding's latest ramptastic RNS didn't have the desired effect.

[quottot] 10/5/2022 15:36

Anyone requiring signs of director confidence has not been paying attention to the Company's announcements for the past few years. I have topped up today

[cmw2] 10/5/2022 15:19

So the CEO is buying shares as well as the company. If that isn’t a buying signal...

[drk1] 10/5/2022 11:38

Every little helps (as does any sign of director confidence).

[spectoacc] 10/5/2022 11:26

A small director buy too, tho not sure he should be front-running the buy back.

[theprovosts] 10/5/2022 07:58

last buyback started at £6.6, ended up at £8.8, let hope they sustain it like last time.

[arthur_lame_stocks] 06/5/2022 14:13

The Koch money was prefs not ords.

[theprovosts] 06/5/2022 13:47

what was the last KOCH equity raise at? the RNS's dont specify a price.

"the transaction has completed and Victoria has received £150 million" - 17th Jan

[rotrader] 05/5/2022 17:14

Market manipulation- the shorters are going to get seriously burned and I'm looking forward to it - ISA maxed out so more in the SIPP.All you invested, keep positive.I had issues with the PLC when I worked for Victoria Carpets but that's in the past, all I see now is a progressive group of businesses ( except for Abingdon Carpets)ready to take off when the recovery begins or like I've stated before a big American company tries a buy out

[rotrader] 05/5/2022 08:35

Post 1714 - I agree ;-)

[longterm56] 04/5/2022 20:29

Hi Arthur
If you feel like that why don’t you short the stock. I take the opposite view to you and whilst I agree that the statutory P and L might well show low profits that is inevitable when so many acquisitions are happening. It is the underlying business that I remain interested in.