Victoria Share Discussion Threads

[william127] 23/11/2023 16:55

Hi BouleverseeThe link is here to watch again https://presentations.investormeetcompany.com/investor-meet-company/VICTORIA-PLC-Half-year-Report-for-the-six-months-ended-1-October-2023?bmid=f1e6973db310

[bouleversee] 23/11/2023 14:29

rotrader -

Please do. Would be v. interested to see what caused the transformation which was good to see. I was unable to tune in to the meeting.

Article in The Times today, headed "Royal carpet-maker looking threadbare" quotes Wilding saying, alongside VCP's first half results, "the remainder of the year continues to look more challenging with ongoing lower demand maintaining pressure on top-line sales, alongside inflation edging up raw material input costs". The headwinds are expected to "slightly more than" offset a £20 million profit lift from a recent reorganisation of the company, which has included the relocation of manufacturing in the UK. Th move has helped productivity and margins in the first half of the year."

Presumably he was more encouraging at the meeting.

[tsmith2] 23/11/2023 14:22

well, someone disliked the reply lol

[sharemonkeymagic] 23/11/2023 13:56

Mr Wilding said that the pledge was for 2 years, never used and hence not renewed.

[rotrader] 23/11/2023 13:53

Look at the share price;-)

[rotrader] 23/11/2023 13:51

Very positive meeting, answered all the questions.I will update to anyone who is interested later

[tsmith2] 23/11/2023 13:37

These were roundly answered

[tsmith2] 23/11/2023 13:29

Call makes for very good listening to

[rotrader] 23/11/2023 09:32

I will try to do that

[shiftytherat] 22/11/2023 22:42

I just hope for Geoff's sake that he didn't persuade the Karim family to buy too many shares! He's running out of countries to run to!

[bda3490] 22/11/2023 18:48

Does Black Boulder have a yacht

[ldrcvm] 22/11/2023 18:42

Ok rotrader thank you. Sorry if I was flippant
Is this serious?
1 Mr. Wilding, Please can you clarify the position of your pledge of almost 10% of the company's stock in 2017/18 when the share price was around £8
2 Why has your largest shareholder (Sprucepoint 20.6%) not put forward a replacement for Mr. Sternberg who quit yesterday. Are they still supportive?
3 Can you give some colour as to why adjusted profits reported by VCP since you took control vary so much from statutory reported losses.

I think these are serious questions.If you don't think so please ask them anyway because I think many people are beginning to think that these things matter.

[rotrader] 22/11/2023 17:47

Not sure if you're serious, if I ask the questions in the way you have put them they will be ignored, if they take questions I will look at others points that people are interested in, and ask in the correct way

[bart1066] 22/11/2023 17:46

Also ask GW if he is dialing in to the call from his yacht or present in Kidderminster, , if so have they considered restriction on travel and accommodation during these lean times?

[ldrcvm] 22/11/2023 17:26

rotrader

Thankyou for your kind offer to report back on call tomorrow, which sadly I cant tune into as it coincides with my lunchtime.

Is it possible to ask questions on the call?

If so I think it would be helpful to ask GW to clarify the exact position vis a vis his 15.8m share pledge to HSBC and JP Mrgan in 2017/18 then worth £126m (now sub £40m) Are the shares still pledged? Has the sum borrowed been repaid or not? Has further collateral been pledged. If so in what form? Yacht, house, more shares?

Also: Is bungling Sprucepoint still supportive? If so why don't they nominate a replacement on the board for the time-constrained Sternberg who resigned today?

If GW is generous with his time maybe also ask whether, in the current climate, it is better to rely on the accumulated £344m of adjusted profits reported by VCP since he took over, or the actual IFRS accumulated losses of £158m.

[bda3490] 22/11/2023 15:50

Update
Via chatGOT
turnover down 17 percent but don’t worry it’s only 4 at constant currency. Uk volumes down 13 percent but don’t worry better than the market . And we have bottom sliced non profitable volume . Uk and Europe ceramics down 27 percent in value with Spain volume down 30 percent , don’t worry we decided to keep our higher prices as customers traded down .australia margin stable but turnover down 16 percent . USA turnover good but 2.5 months extra inventory ( not our fault ) ports and Uyghur labour prevention act to blame . And nett debt only went up 19 million pounds which is what they lost in this 6 months .

[tsmith2] 22/11/2023 15:38

you need to try harder

[ldrcvm] 22/11/2023 15:24

Sternberg represented VCP's largest shareholdeer, the bungling Sprucepoint (20.6%) on the VCP BOD. He resigned today "to rebalance his time commitments". So naturally another bungling Sprucepoint employee stepped into his shoes yes? NO wrong. That didn't happen. So this is a massive vote of no confidence from 20.6% of VCP's ownership. VCP's biggest shareholders (other than Wilding) are all US-based, so Thanksgiving day is a great choice to hold the call tomorrow.

[chucko1] 22/11/2023 13:20

I would not simply "guess" on matters that important!

That said, the financials and underlying statements are not anything I would want to invest in even at the current price. The only positive was the increase in EBITDA margin. Small beer, though, if what occurs below that on the income statement, and beyond that in terms of time, is increasingly grim.

[rotrader] 22/11/2023 12:31

Doubt that very much.Investor meet company half year report tomorrow, I will watch and let you know what is said

[my retirement fund] 22/11/2023 12:11

I'm guessing this company is now insolvent in all but name?

[rotrader] 22/11/2023 11:32

O dear, the Vultures are having a field day

[bart1066] 22/11/2023 11:25

Just checked, info says 79p share loss. Feels like a highly leveraged Coloroll rerun.....

[agnes] 22/11/2023 11:02

Let's see what Alphaville has to say

[tsmith2] 22/11/2023 10:22

Taken some, highly attractive valuation at these levels