Gamesinvestor1
15 Nov 2019
3rd time now Not sure the management can make up anymore excuses for the crosselling of product into South Korea. [link] Looks more like the real demand has collapsed for its brands in those regions. The CEO’s departure, always an alarm bell was the good indicator. 695p – possibly the lowest its been for a long time – worth buying back? Games
Gamesinvestor1
27 Aug 2019
880p and falling Dropped to 880 Lucky, or was it I don’t know really, to have offloaded one third at 1280 back in Jun2018 and 2/3rds after the 2nd Korean misshap on 21May this year at 960. With a buy-in at 787 it was probably one of my better calls - few and far between of course. Is there a 787 re-entry here? I’m not so sure, it seems to be buying stuff to prop up the numbers - Richard Beddard penned a good article recently and he was on the verge of offloading, after the 3rd Korean misshap, but kept it in the portfolio. Is there enough strength in this company to call it a long term hold? Games
Gamesinvestor1
04 Mar 2019
Angela Lugar - Non Exec [link] This does not look good. Angela, I assume, must have been fired from N Brown, having driven the stock price down from over 350 in 2017 to around 100p at the time she left. A new CEO has been appointed from within. In addition to that she has held senior positions at Debenhams, I guess on the verge of bankruptcy. It appears that no matter what your performance, you get considered just because you are on the circuit. I’m considering offloading this based on what looks like poor judgement - anyone have a counter argument in support of Angela? Games
Gamesinvestor1
12 Jul 2018
Trading Update Portmeirion, the manufacturer and worldwide distributor of high quality homewares under the Portmeirion, Spode, Wax Lyrical, Royal Worcester and Pimpernel brands, updates on trading for the first half of the current year. The Group is pleased to announce that total Group sales are up 11% for the six months ended 30 June 2018 relative to the same period last year. On a constant currency basis, total Group sales are 15% up on last year. We are delighted with the positive start to the year with strong progress in both our ceramic and home fragrance divisions. With the seasonal weighting of our business, trading in the second half of the year remains important to the Group. We remain confident that we will achieve profits for the full year in line with market expectations. Interim results for the six months ended 30 June 2018 will be announced on 2 August 2018.
II Editor
27 Apr 2018
NEW ARTICLE: Is Portmeirion in the 'buy' zone? "At first blush, LSE
MPortmeirion homeware designer had a great 2017. Revenue increased 11% and adjusted profit 15% in the year to December. Impressive cashflow meant the company had more cash than debt at the year end, even though it splurged ..."[link]
gamesinvestor
20 Sep 2017
Cannacord CANACCORD GENUITY GROUP INC[link] 10,852,361 shares in PMP on Monday 18th September.This represents 5.97% of the company -- a significant chunkGames
gamesinvestor
11 Sep 2017
Let them eat cake Let them eat cakeThe wildly popular cookery show Great British Bake Off returned to UK television screens this week to great fanfare.Despite some concern over the move away from the BBC this season, the charm of the iconic big white tent (where the baking contest takes place) appears to remain unscathed.But the positive influence of quintessentially British shows like Downton Abbey and “Bake Off” could be about more than just food for the soul. They may have also contributed to a sharp acceleration in the UK’s food and drink exports to China in the past two years.There has been a particularly steep climb in goods relating to “afternoon tea”.In 2016, tea exports from the UK to China rose by 63%, and milk powder exports increased by 134%. Cake exports climbed 26% and spring water leapt by 139%, according to the Food and Drink Federation.Games - let's hope they all buy the plates and cups in the box with the tea and cakes and ship them en masse.
gamesinvestor
07 Aug 2017
Debt Something seems odd here :-"""""Our net debt position at 30 June 2017 was £1.7 million, which compares with net debt of £9.7 million at 30 June 2016 and net debt of £2.3 million at 31 December 2016. We are pleased with the £8.0 million reduction in net debt and this is ahead of our expectations. This was driven by a number of factors including improved working capital with both lower inventory and trade receivables. Our committed bank facilities total £20.0 million.""""Now given that they paid net £16.7M for Wax Lyrical and it only generated a few million of profit, how the sam heck have they reduced the debt from £9.7M to £1.7MOK they give an explanation but it looks like a lot of accounting trickery.Also there was a massive drop in the US business and South Korea fell again.I'm up 20% on this, but feel like the business has only shown a growth dues to the immediate acquisition and the numbers are very heavily back end loaded -- smacks of lots hope here.Games
Greyinvestor
03 Aug 2017
Good results Good results today, I thought. But a very long way to go to make the year end prediction.I'm holding off buying for now.....
II Editor
21 Apr 2017
NEW ARTICLE: Portmeirion in three-way scrap for place on this 'buy list' "Richard, I need to talk to you about Portmeirion.You were dancing around Portmeirion towards the end of last year. What stopped you swooping in with a clinch?I might well have done, but I was distracted by other companies, then Christmas got in ..."[link]
Ripley94
12 Mar 2017
Re: NEW ARTICLE: New record for AIM star... Stoke-on-trent ceramics "giant"
gamesinvestor
10 Mar 2017
Re: NEW ARTICLE: New record for AIM star... This seems to be the most disconcerting aspect of the business :-""""Having fallen from more than £15 million to £12.3 million in 2015, sales into South Korea fell below £10 million in 2016 """"" sales into India fell from £5.8 million in 2015 to £1.1 million in 2016. """"""The company notes it is “working closely with our exclusive distributor in South Korea to rebuild sales” and that “we have changed our distribution arrangements in India”, but also notes South Korean “economic problems particularly in demand for luxury products” and that “returning sales to prior high levels in India will take time”. The fall in sales in both countries is quite dramatic -- is there any indication that the stuff is being copied?They have changed the distributor in India -- I bet they have, the sales fell off a cliff £5.8M to £1.1M seems to indicate that the distributor gave up or there were large non repeated orders in 2015.Games
mnamna
10 Mar 2017
Re: NEW ARTICLE: New record for AIM star... No idea about Steve More or his views.Your message has reminded me that I did not reach my own conclusion on the recent results. I can understand why some might advise avoid because I don't see any easy gains here.If you are looking for obvious growth shares which have not (yet) disappointed like Boohoo et al then Portmeirion doesn't really fit the bill. The company disappointed last year with profits down due to problems in territories considered key future prospects. The acquisition of Wax Lyrical papered over the cracks. Lucky or good strategic move?Trading on 14 times current year forecasts it doesn't seem expensive. But they do have to fix the problems to deliver the expected results and its not unusual for companies with problems to suffer more problems. Why invest in something that might be going backwards if there are quicker gains to be made elsewhere?But thats overlooking the track record of this company and its management team. The devaluation of Sterling should help them to export more UK produced product (which they need to raise efficiency of their plant) and at the same time raise the profits coming in from their foreign made products. The company should benefit further from any more devaluations of Sterling and Europe is not really an issue? The company is still a cash generating machine and this should improve as exports increase but it will be slow and steady rather than a quick profit?So there are good points for both Bull and Bear on this share. At the moment I am backing the track record and rate the purchase of Wax Lyrical as astute rather than lucky. I will add to my holding on any serious weakness - provided that further problems don't appear,cheers
Ripley94
09 Mar 2017
Re: NEW ARTICLE: New record for AIM star... Steve More on share prophets advised avoid today. any views on him ?
gamesinvestor
14 Nov 2016
Bought 1st tranche of this today.Games
