winningstreak
23 Nov 2017
Resilient cash cow... Company appears to be resilient to the economic uncertainty,has a good cash flow, an excellent balance sheet, and pays outstandingly good dividend. II bought some to put in the bottom of my drawer, i.e. long term hold.ws
malj1
03 Oct 2017
Re: Anybody there? Disappointing interi... Still holding. Still taking my 9% post tax dy. Upside on top of that. Is anybody there ................................?
malj1
21 Mar 2017
Re: Anybody there? Disappointing interims Well I'm here.Actually a v gd interim set results. But LFLs indicate pothole incoming. Most housing downstreamers are a function in some form of housing transaction no.s / consumer confidence (aka house prices) / disposable income / availability of credit / cost of credit. Generally they function 6-9 months lagging behind house transactions. SCS LFLs show significant deceleration into negative territory. I reckon due to a/ massive acceleration of housing transactions pre Easter 16 & concomitant decline thereafter (changes to SD BTL tax), b/ general brexit panic & c/ putative erosion of spending power as inflation reaccelerates whilst income growth remains static. A will turn around ca Easter 17 & b is (I think) a one off. C is yet unclear.I’m assuming the rollout plateaus & the current growth (t/o & op%) stalls. But they still look v cash generative, with arguably ca 98p ps spare cash on a forward basis, prospective dy ca 9.5% & ungeared.So it all depends on the severity & duration of the pothole. But they should be able to ride through this for a year. I’ll hold unless Armageddon emerges! Thumb sucking time & my indecision is final!
claude reins
21 Mar 2017
Re: Fincap target 230 and div yield 8% Very different scenario since you last posted Cold As Cheese and 464OnLock even earlier. Thoughts now?
claude reins
21 Mar 2017
Anybody there? Disappointing interims Especially the outlook. The top line figures were well flagged in the earlier Trading Update. However, the like for like progression over the last 12 months has been nothing short of diabolocal. Staring Jan 16, 8.8% (and for varying periods of time which have been chosen to fit in with the timing of trading updates or results); April 12%; June 14.6%; August (the peak) 14.8%; October 4.5%; Nov 5%; Jan 17, 2.7%; and the latest to end March 0.9%! February challewnging, bit better in March, but they warn that the crucial Easter and May holidays have yet to come.The business continues to lose money at operating loss and loss per share lebel, though at a slightly lower rate.There are the 34 new srores which have come on since Sept (1 in Sept, 3 on Boxing Day) but this is not a successful business. Yes, it has a low PER but also the PEG going forward is well over 1. It scores highly at 93 on Stockopedia though I am not sure why. It has a high sco/re for Value - low PER - but also a high one for Quality - I suppose it is steady but declining in some ways and dont see the justification. It is of course lamentably rated for Momentum.In the face of forecast tough times in th next couple of years for Uk households, sales of high priced items may well be hit. Not a share to be heavily invested in. Surprised to see the SP holding up this morning, but I guess that the Trading Update forecast the bad news and it is bad! Great divi yield but a value trap? Maybe the value of the ddivi will be wiped out by falls in the SP duing the year?Still regard it as a 'get out now' share and seek better prospects elsewhere with the cash raised. Weak sell at best, strong sell if you are feeling depressed with where this business wseems to be going.
coldascheese
11 Aug 2016
Fincap target 230 and div yield 8% Broker update from FinnCap....WHATS NOT TO LIKE-have bought some as seems way undervalued in this low divi world.FinncapScS Group (SCS): Sales update (BUY)ScS has today confirmed that trading momentum continued for the past 8 weeks of FY 2016 with LFL sales order intake +14.8% for the 53 weeks ended 30 July. Accordingly profits are expected to come in in line with expectations (finnCap forecast FY16 EBITDA of �15.6m, EPS 19.4p). Given the 24% decline in the price post the referendum, the stock is looking cheap on 7.8x earnings. That said, there are a few points to bear in mind: 1) the weak H2 base in the PY (LFL order intake +1.4%) has flattered the FY outturn; 2) the current period contains 53 weeks of trading and July 2016 had 5 weekends compared to 4 in the PY; 3) Potential FX impact and/or changes in consumer confidence will take time to feed through into spending patterns; and 4) the base is now high going into FY17. We are currently leaving our forecasts and 230p price target unchanged
dollarking
12 Nov 2015
ScS Please research ScS and their history. They seemed to have missed their recent period in administration and complete shareholder wipe out from the 'Our History' on pages 4 and 5 of their most recent accounts. I suggest the best place to start is here, your own curiosity should find the rest[link] Beddard's pain should be your gain. There is no cash - it doesn't belong to ScS. It's simply deposits for sofas fully offset in the current liabilities 'Trade and other payables.'
II Editor
29 Sep 2015
NEW ARTICLE: SCS keeps promise with 8% yield "Sofa and carpets chain LSE:SCS:SCS sold like hot cakes when it floated in London at the beginning of the year. Its share price jumped by a third in less than six weeks and the future looked bright. Half-year results in March certainly looked ..."[link]
malj1
12 Aug 2015
Re: Cheap? Agree. I further expect the housing market (mortgage approvals / total transactions) to markedly reaccelerate q3 & q4, so this will provide a further (albeit lagged) boost to the likes of SCS. So the operational no.s/cashflow should rise strongly.
spankaroo
12 Aug 2015
Re: Cheap? If it wasn't for the FD going, these would have been 180p. Looks dirt cheap, with a good divi
mcescher
30 Jul 2015
Interesting infographic report on SCS What do people think of this DCF for SCS? [link]
malj1
06 Jul 2015
Re: Cheap? Having spent quite a few years working in retail the weather is a standard feature. Sun shines & booze + BBQ walk off the shelves & all else stalls until the sun goes back in (which it always does).
spankaroo
06 Jul 2015
Re: Cheap? Well I couldn't resist starting to build a position onto days fall. Obviously the warm weather has spooked some investors. Current year EV/EBITDA 2.58x!!!!
malj1
02 Jul 2015
Re: Cheap? Yes. Very. I'm disappointed to see someone on this bb at last! I like overlooked companies. Though you should think about the hiccup on the last trading statement (ie the v sharp fall in LFLs).
spankaroo
01 Jul 2015
Cheap? Mkt cap£59m, with cash of £26m. Brokers forecast £6.6m current year ending July 2015 and £10.5m for 2016 - that puts it in a PE of 7.6x against DFS on 12x. Good cash flow generator,due to customer paying upfront and cash only paid out to suppliers once goods delivered. Has loads of cash to pay final divi, which it states it will. Looks cheap and over looked
