Go Dink
22 Jun 2016
Re: Picture perfect Claude, I think you're right. I think PHTM on a high PE - so high that there's no room for error so when we hear that the business in Japan isn't rolling out as quickly as thought then the sp is hammered. Probably worsened by brexit worries too maybe?I'm holding for long term.
claude reins
22 Jun 2016
Re: Picture perfect Maybe it is just the high PE which is spooking people in what they consider is not a growth business. However, to suffer the same SP % fall as dogs like Chemring today is an insult, but that's the market. Lots and lots of sellers today including many small investors' holdings.
Frankseluk6
22 Jun 2016
Picture perfect From newsPhoto booth play Photo-Me International (LSE: PHTM) hasn't enjoyed such a smooth ride in Tuesday trade however, the business sinking 18% after releasing trading numbers of its own.Yet Photo-Me advised that group revenues rose 3.8% during the 12 months to April 2016, to £184m, a result that propelled underlying pre-tax profit 14.6% higher to £40.1m.And Photo-Me remains bullish about the future, advising that "whilst uncertainties remain, in particular in relation to currency, the board anticipates another year of good growth."I view share price weakness today as nothing more than profit-booking following recent advances, and expect Photo-Me's bottom line to continue rising.The City shares my view, and earnings are expected to jump 10% and 8% in 2017 and 2018, respectively. And I reckon subsequent P/E ratings of 18 times and 16.6 times are great value given Photo-Me's terrific momentum.
Revoman
21 Jun 2016
Re: Very good results Finally no mention of Asda, though it was only 8 weeks ago, but at the same time it did say 'An internal announcement will be made shortly by Asda Stores Limited to its staff about the future of its UK Photo Product Division.' Shortly - what is shortly? Again, manage expectations.I'm surprised as well but that presumably means the deal hasn't yet been done. PHTM will do a good deal for themselves, and not pay too much. If I'm not wrong the equipment has all been purchased by ASDA from PHTM, but ASDA can't maintain the stuff now so PHTM will come in and service the place and take the cash. Hopefully.
IOMINVESTCOM
21 Jun 2016
Re: Very good results Hi Performer,Totally agree with your comments and Claude's on that they offer a buying opportunity which is exactly what I have done this afternoon at 1.3223 as I have been looking to top up.It still does not seem they could continue to slide for the rest of the week strangely but will continue to watch the SP.GLTA
performer
21 Jun 2016
Re: Very good results To be fair, they did increase the ordinary final dividend by 29% as opposed to the 10% promised and they also have promised that in each of the next two years they will increase the ordinary dividend by a further 20% per annum. The 29% increase would have reduced the surplus cash for the special. Additionally, I prefer to have the certainty of ordinary dividends which will now be approx. 7.05p and 8.46p in each of the next two years. That is a yield of 5.3% and 6.3% for the next two years and we could still see specials on top of that. What impressed me most about the results was how bullish they were about the laundry business. The Japanese slowdown was a bit disappointing, but eps growth was reasonable overall and with laundry to kick in over the next few years in a big way. They still remain a growth stock in my view. You make a good point about Schroders who seem to want to sell up. They may have been selling today. At 133p with strong yield support they are at least a hold. I added a bit early at 134.25p this morning, but you cannot call the bottom.
claude reins
21 Jun 2016
Re: Very good results I have been doing 2 things. I have added to my holding after all at these prices.I have also looked back over 1. the several trading statements that PHTM have made this year; and 2. the several articles made about PHTM by a number of iii correspondents/articles which have been wowing the share, and making high assumptions on their behalf eg one said £20m extra to be distributed as a special, versus the £10m+ actual; and 3.some share transactions where Schroder some little time ago reduced their holdings to around 12%, still significant but a couple of million shares lower. Presumably they were taken up because the SP held up. The message that comes through is that always beware of over promising on 1/4's business. The Japanese business clearly took off at the start of the year and the momentum has not been kept up; we now find that the government will determine the pace of take-up of the MyNumber because it is not compulsory, though very helpful if people have them.Finally no mention of Asda, though it was only 8 weeks ago, but at the same time it did say 'An internal announcement will be made shortly by Asda Stores Limited to its staff about the future of its UK Photo Product Division.' Shortly - what is shortly? Again, manage expectations.
Simbrad
21 Jun 2016
...results revealed 15% growth in PBT in line with our forecasts, and 20% growth in the ordinary dividend (forecast: 10%) confirmed for the next two years. A higher investment programme in its technology development and estate has resulted in a lower special dividend than forecast. finnCap note out this morning on research tree
Frankseluk6
21 Jun 2016
Re: Very good results And neither do I. I thought they would rise strongly this morning. Just shows you.
claude reins
21 Jun 2016
Re: Very good results Maybe also the 'good results' anticipated in SP movement in last few days, although probably shares have just risen from lows earlier in the week as the market has turned too.In short, don't understand it!
Frankseluk6
21 Jun 2016
Re: Very good results also a lot to do with the vote on Thursday.
claude reins
21 Jun 2016
Re: Very good results Results are OK depending on how you look at them. They may disappoint some in that there is a level of caution in some of the statements - Japan identity not going as fast as hoped for; concerns about currency headwinds; no mention of Asda in outlook; divi seems to be lower in total than some - Stockopedia - were forecasting. Photo not glossy enough? I dont think that should account for the drop because these are strong figures; diversification continuing well; technical developments continuing well.Maybe a buying opportunity at these prices? I have quite a lot so wont be adding in the circumstances but would think that it would be a good buy in time for a new holder.
Bowman
21 Jun 2016
Re: Very good results I agree, the results look good. So what are we missing? The market apparently does not like something since the results have provoked a ~13% drop in the sp according to my IG price data.
Frankseluk6
21 Jun 2016
Very good results The business is going very well and major progress in pipeline. Divi increased by 20% this year and the same promised for the next two years. Not forgetting the special dividend also.The company increased cash held even after some 4o+million of capital expenditure. Marvellous. No mention of the ASDA prospect as can see.All Imo
Frankseluk6
27 Apr 2016
is looking ....... Sorry
