Victorian Plumbing Share Discussion Threads

[deanowls] 11/3/2022 18:31

Let Norcros step in. Quality management.

[hybrasil] 11/3/2022 18:17

Some value destruction though!

[glasgow13] 11/3/2022 16:21

Sinking ship? never floated.

[alotto] 11/3/2022 14:44

The psychological barrier of the sub 60 has now been broken. If it goes below 50 or of there are positive news I'll buy. I rather miss the boat than jumping on a sinking ship

[mr5k] 11/3/2022 14:25

nearly 0.5 EV/Sales and 5 x EV/EBIT, it's either a fraud (possible) or just too cheap. You can sit there holding your nuts (alotto et al) or get involved. There's no money to be paid posting that you'll wait until it gets cheaper because the chances are you'll never invest.

[alotto] 10/3/2022 20:27

Topvest totally agree

[topvest] 10/3/2022 20:08

My thoughts - its valued at c£200m with profits expected to rebound to £15m after tax sometime soon, but with clear risk at the moment of undershooting with all the headwinds already announced. No doubt its a bit undervalued, but more worthy of investment closer to c£100-150m. What happens if they have another warning and profits reduce to £10m? Then it will be valued (unafairly) as an ex-growth value stock on a P/E of 10 or less.
Also, the share price hasn't shown any sign yet of bottoming out. The chart is dreadful. I think this will be a good buy at some point, but not until the stock price sets up nicely. It's in a stage 4 downtrend and catching a falling knife is rather risky.

[alotto] 10/3/2022 17:16

How does that answer?

[mr5k] 10/3/2022 16:42

Price 61p 61p 61p
EV/sales 0.6x 0.6x 0.4x
EV/EBITDA 4.1x 7.0x 4.7x
EV/EBIT 4.5x 8.2x 5.2x

[mr5k] 10/3/2022 16:42

Price 61p 61p 61p
EV/sales 0.6x 0.6x 0.4x
EV/EBITDA 4.1x 7.0x 4.7x
EV/EBIT 4.5x 8.2x 5.2x

[alotto] 10/3/2022 16:12

How much is it worth, what's the value?

[mr5k] 10/3/2022 15:45

alotto .. because of the valuation

[diku] 10/3/2022 15:00

Depends who's bottom?...

[alotto] 09/3/2022 17:02

How do you know we must be near bottom?

[mr5k] 09/3/2022 16:43

been buying all the way done since 100p .. we must be near the bottom

[alotto] 09/3/2022 16:12

Very unloved stock, since day 1 sadly.

[pottsypotts] 09/3/2022 10:44

106 for me, not even a rise when the market has a bounce

[alotto] 08/3/2022 14:59

It's a common error to try catch a bottom. Nobody can predict it. What you can estimate is a fair price. A fair price is a massive discount, given the uncertainty of a short history of public listing. The period isn't the best to bet on a small cap eother. But I wouldn't despair. Directors bought in at 100p so you should be doing well in the long term.

[hybrasil] 08/3/2022 14:29

Well I boughtat 100p thinkink they couldnt fall further!

[hybrasil] 06/3/2022 13:01

Topvest

You really are everywhere!

[madbuilder] 05/3/2022 09:03

looks a good bet at 20p

[diku] 04/3/2022 14:27

Artificial Inflated peak...

[alotto] 04/3/2022 12:15

I wouldn't take the peak as a benchmark

[charo] 04/3/2022 11:30

75% down from peak!!!

[topvest] 02/3/2022 21:23

Yes, an interesting business run by an "intelligent fanatic" CEO with "skin in the game". Having had my bathrooms re-done last year, I did use Victorian Plumbing to price check etc. I didn't actually buy anything as I went through an installer but it was clear from what they were saying that Victorian Plumbing are the number 1 player. Unfortunately, its a classic IPO when things are great and the following year is a disappointment. An informed seller!
Medium term it still looks a growth business, so I might be interested in buying once the share price has bottomed. I don't think it has yet though and they are probably really up against it now on a like for like basis with last year...massive cost price inflation, shipping issues and a very likely marked slow down or even recession later in the year. Let's face it people will want to go on holiday this year and so if they haven't already done up their bathrooms then it's probably not the priority it was in the last two years.
On top of that UK spending power is going to be hit badly with all the inflation hitting in a month's time. The marketing budget is also eye-watering.
Personally, I think this has possibly got another profit warning in it.
Overall, its a pretty good business though so will keep it on the watch list. I'd rather buy when things are improving though.