IOMINVESTCOM
16 May 2018
Paul Scott's view Patisserie Holdings (LON:CAKE) - excellent interim results are out today. Revenue is up 9.1%, and pre-tax profit is up 14.2%.This tea/coffee/cakes outlet seems to be sailing through the choppy waters of town centre retailing, with complete ease. I'm perplexed as to how this can be, when so many other town centre operators are complaining of low footfall. That doesn't seem to be affecting CAKE.The balance sheet is outstanding, and net cash has grown to £28.8m despite funding store roll outs, and (modest) divis.This business really is a class act, which is reflected in a forecast PER of 22.4.
Lucky888
27 Mar 2018
Re: rights issue ahead The suggested rights issue has gone very quiet - does anyone have more news?
dontlikenicknames
03 Jan 2018
Re: rights issue ahead more cake and i can eat it.been in since float and regularly visit premier site in old compton st.area used to be very seedy and full of tarts of the other kind.
give the dog a bone
02 Jan 2018
rights issue ahead nothing like a well flagged rights issue ahead generally when there is a rights issue pending, the share price tumbles so that the new shares will be priced keenly. but perversely the price soars. feels like a bit of ramping going on here IMHO , eh Luke? good to see a 5% rise - this means the new shares won't need to be discounted as muc
oldjoe1
02 Jan 2018
CAKE.............UPGRADED........ AN UPGRADE FOR CAKE.................Patisserie Holdings Plc CAKE Peel Hunt Buy355.50 353.25 425.00 450.00 UpgradesSP target 450p........think ill add a few, somebody knows something.
IOMINVESTCOM
02 Jan 2018
Preparing to tap shareholders I do not subscribe to the Times but here is some info - Maybe others that do can post full article :-Patisserie Holdings, the owner of Patisserie Valerie, is preparing to tap shareholders in a move to buy the company behind the Gail’s Bakery chain.Patisserie, which two months ago revealed it was interested in the 40-shop business, is drawing up plans for a £35 million placing, Sky News reported.Luke Johnson, chairman of Patisserie, is also a shareholder in Gail’s parent Bread Holdings, so is standing back from negotiations.Bread is valued at around £150 million. Its sales rose by £15 million to £79 million in the year to February.Patisserie floated at 170p in 2014 and its shares were last trading at 353p, giving it a market value of just over £350 million.
Why nicknames
19 Dec 2017
Re: big jump today We have 2 in Liverpool and they are always busy when I walk past them?
give the dog a bone
19 Dec 2017
big jump today not sure why. I visited their store in Canterbury and Chichester recently and both were sadly less than busy ... thought the prices on the high side so holding off rebuying back into the stock
IOMINVESTCOM
28 Nov 2017
Stockopedia view Patisserie Holdings (LON:CAKE)Share price: 340p (+8%)No. of shares: 100 millionMarket cap: £340 millionPreliminary resultsThis is a chain of cafés offering handmade cakes and ice creams, rolling out at a solid pace.Results are solid, and kudos to the company for quickly showing the statutory pre-tax profit. Not needing or wanting to make any adjustments, even if adjustments are often justified, is a great sign:5a1c45bee5729CAKE_20171127.PNGNote there is a small dividend attached to these shares. The next final dividend is 2.4p, so the total dividend for the year is 3.6p.A profitable, self-funding roll-out is a fantastic place to be when it goes right. On an after-tax basis, Patisserie Holdings (LON:CAKE) generated £20.4 million in cash from operations, of which it only needed to plough £8.7 million into capex. Given the growth profile, I guess that most of this is growth-oriented capex.Last year, it also had a very positive free cash flow profile, generating £18.6 million in cash from operations after tax, and again investing only £8.7 million of that. So the net cash position has improved dramatically over the last couple of years.The company's main bakery is in Birmingham, and it is thinking about a new one in Manchester. That would make for considerable increase in capex in the short-term, but hopefully would generate similar returns to that which the company is currently achieving on its capital:5a1c480206819CAKE_20171127_Quality.PNGMy opinionThis is one where I haven't spotted any red flags yet. The plan is to open 20 new stores per year, which will of course mean that the percentage growth rate will decline over time if it is achieved, but would still be a highly satisfactory outcome from an investment point of view.At some point it will have to run out of road, but for now the runway sounds like it can last into the medium-term at least:We continue to target new towns and cities for store openings and in the year opened in twelve new geographical locations. Many of these stores are performing ahead of expectations and reinforces the demand for the Patisserie Valerie brand. Due to the highly cash generative nature of the business, the rollout programme is funded entirely from operating cash flows. All of our new stores were profitable from the first week of trading and we expect all of these stores to achieve the payback target of 24 months.As you might expect, the shares are not cheap, at 20x the net income just achieved, and c. 18x on a forward basis.But I can't imagine that will seem expensive in a few years if it executes its plans. So I'm putting Patisserie Holdings (LON:CAKE) on my watchlist for a potential purchase.[link]
oldjoe1
01 Nov 2017
CAKE Technically Strong Update 27th Nov CAKE, Patisserie holdings, riding along and upwards on the 200 Day EMA EPS forecast for 15.9% rise and a P/E of 18.3 for 2018, update 27th NOVEMBER.....[link]
II Editor
17 Oct 2017
NEW ARTICLE: Stockwatch: A "speculative buy" yielding 8%-plus "Can LSE:EHG:Elegant Hotels' valuation criteria coincide with a fundamentally sound business?At 87p, the Barbados-based luxury hotel owner/operator trades on a whopping 50% discount to intrinsic net asset value, a prospective yield over 8% and a ..."[link]
Dogberto
06 Jun 2017
Re: Paul Scott view 8% down because a bloke on a blog has had a couple of disappointing store visits? Absolute joke of a market reaction.
glasgowboy
06 Jun 2017
Paul Scott view Yes its possible as there seems to be no market news on the company , although I did not think he has that much influence on the share price it would appear I was wrong. FWIW I am holding although I do respect Paul's opinion
Broncomaniac
06 Jun 2017
Re: Paul Scott view Is today's plunge just due to these comments from Paul Scott?
glasgowboy
06 Jun 2017
Paul Scott view For that reason, I've ditched most of my shares in other hospitality, or retail shares. In the case of Patisserie Holdings (LON:CAKE) I've had a couple of disappointing store visits, and feel the valuation is probably now high enough. It's managed to mitigate cost increases so far, but will that continue? Customer service standards slip if staffing is reduced. The figures look great for this company, but can it maintain such a high operating profit margin? I'm not sure it should try to - because if the operating margin is too high, then customers might become disillusioned with the poor value for money, and decline to visit in future.
