Hauler1
18 Jan 2017
U.K. Carpet exports and imports WEAKER sterling helped boost carpet exports in November as British manufacturers narrowed the trade deficit.Woven and tufted carpet exports totalled £16.8 million during the month, a gain of 5.4 percent on the same month the previous year according to new hmrc data. An 11 percent jump in sales to Ireland, to £3.5 million, help lift the figures, which were also aided by larger gains from a more modest base in markets including Belgium, France and the Czech Republic.Imports of tufted and woven carpets were also ahead, largely thanks to a 40 percent year-on-year climb to £2.9 million in the value of woven rugs and carpets bought from India.Imports from Belgium and Holland were broadly flat, falling 1.2 percent to £20.6 million from the former and rising 0.7 percent to £16.1 million from the latter.Overall carpet imports in November rose 4.1 percent to £59 million. Year-to-date tufted carpet imports are up 4.3 percent at £508.8 million against the first eleven months of 2015, with year-to-date woven carpet imports up 5.4 percent to £105.1 million.
WD in yorkshire
17 Jan 2017
Re: share split 5
manxgold
17 Jan 2017
share split There was a share split not too long ago and i would like to know what the ratio was,i am thinking it was i share became 4,is this correct? Thanks guys.
WD in yorkshire
12 Jan 2017
Re: New CEO Excellent, I see Philippe was with Balta through a key period when Lone Star Funds acquired them, interesting and very positive. Well done Geoff....again. The next chapter unfurls, from "autonomy" to consolidation.
Hauler1
12 Jan 2017
Re: New CEO "Philippe, 53, has over 25 years experience in the flooring industry and headed Europe's largest carpet manufacturing operation at Balta Group, for the previous six and a half years. Prior to joining the Balta Group, Philippe was General Manager of the Tufted and Woven Division of Beaulieu International Group. This exposure has given him extensive experience in running very large, multi-site, multi-national, manufacturing and sales organisation. Core attributes include developing new business opportunities, effectively managing senior management teams, delivering cost saving and other organic growth initiatives in order to build market share. He holds a Master of Business Economics degree from the University of Antwerp and an Advanced Management degree from Vlerick Business School. Philippe is multi-lingual and speaks Dutch, English, French and German fluently."This can't hurt the stated drive into Europe as well as the existing business...positive.
Joey1
12 Jan 2017
Re: New CEO Market seems to like it. I guess because (a) Hamers is enormously experienced, which will be good for earnings, and (b) it will enable the chairman to focus on acquisitions. I sense 2017 will be a stellar year for Victoria.This company just keeps pulling one rabbit after another out of the hat.
Bovem99
12 Jan 2017
New CEO A really positive statement of intent with new CEO hire. Not only does it represent a vote of confidence by Mr Hamers for VCP's future prospects (I presume that he must believe there is potential for material future growth and improved performance) but will also let Wilding focus entirely on new acquisitions, where he clearly excels. I expect there will be further good news and follow with keen interest.
Hauler1
10 Jan 2017
VCP in Top 10 share tips on II Article yesterday Victoria CarpetsOperating in a highly fragmented industry, carpet-maker Victoria (VCP) is gearing up for a highly active year of M&A. It's expected to reveal a £40 million budget for such transactions, which will go hand-in-hand with good organic growth, strong cash generation, low risk operations and a compelling valuation. Each one of its seven previous acquisitions have been earnings enhancing.Of course, Brexit risks to the economy are very real, although management could use sterling's weakness to their advantage to gain pricing power. finnCap reckons the shares could run 22% higher, giving them a price target of 440p.
Bovem99
15 Dec 2016
450p price target from Berenberg in IOC Another positive analyst's report. Berenberg, who are not Victoria's broker (so neutral) began coverage of Victoria today with a BUY recommendation and a 450p target price. The report summary reads: "Summary: Victoria is a manufacturer of carpets and underlay in the UK and Australia. After many years delivering limited levels of revenue and profitability, a new management team entered in 2012 to reignite the business through a combination of organic development and consolidation. Following initial success, we expect the underlying improvement story to continue and see material potential for further sector consolidation to occur on a multi-year view. We initiate with a Buy rating and a price target of 450p."
Joey1
14 Dec 2016
A track record forms For four years this company has just done one earnings accretive deal after another. Then integrated them smoothly and improved their earnings. It's starting to look like a habit......with plenty more to come!
WD in yorkshire
14 Dec 2016
Re: Acquisition of Dunlop flooring... "The entire purchase price will be funded from cash and the Group's existing bank facilities." shareholder value again!
Hauler1
14 Dec 2016
Cantors Price target... 425p (upgraded)PER2015A 33.32016A 21.42017E 152018E 12.7Group revenue expected to be circa 355 mln with the on boarding of the latest acquisitions...I think their numbers are even a touch conservative...Have been a long term holder of this stock and think that it still represents a great value play.I also like the fact that GW takes a very modest salary and remains completely aligned with shareholders.In for the long Haul,Hauler
Hauler1
14 Dec 2016
Acquisition of Dunlop flooring... I see WH have their price target set at 462...To quote them...Dunlop is a sizeable manufacturer and distributor of flooring underlay operating from sites in Sydney and Melbourne. This deal will take Australia to c29% of sales from 23%. VCP has successfully integrated UK underlay manufacturer Interfloor, with a strong improvement in earnings in last 12 months. It is also 16months since last acquisition, Quest Carpets, in Australia. Dunlop had sales for the year to June 2016 of A$50.8m (£30m), EBITDA of A$6m (£3.5m) and EBIT of A$4.9m (£2.9m). Dunlop’s operating margin is consistent with VCP’s existing Australian business at 9.6. So the relevant historic multiples are 0.67X sales, 5.7X EBITDA and 6.9X EBIT. We estimate the deal to be c.5% enhancing in FY2018, pre synergies.
Hauler1
07 Dec 2016
Re: dividends Hi MThe narrative of the company to date has been that it is better to continue in an acquisitive pattern / debt reducing stance (when not acquiring) rather than paying dividends out at this time. H
manxgold
07 Dec 2016
dividends is VCP expected to pay any dividends in the near future?
