Share this page:
Stay connected:
Welcome to the Citywire Money Forums, where members share investment ideas and discuss everything to do with their money.

You'll need to log in or set up an account to start new discussions or reply to existing ones. See you inside!

Notification

Icon
Error

Transactions
Tug Boat
Posted: 25 September 2017 09:12:35(UTC)

Joined: 16/12/2014(UTC)
Posts: 113

Thanks: 1 times
Was thanked: 140 time(s) in 60 post(s)
Just bought TFG.
dyfed
Posted: 25 September 2017 09:22:39(UTC)

Joined: 01/09/2016(UTC)
Posts: 275

Thanks: 388 times
Was thanked: 331 time(s) in 154 post(s)
PHNX is currently my biggest share holding, had it for years and pays a great divi. Currently share price has fallen ex-divi.
PHNX report an after tax loss in the first half of 2016, mainly "due to the cost of the hedging programme used to protect the Group's solvency and cash flows. For example, the equity put options held to protect the life company solvency position against falls in equities have made a loss as markets have risen". Cash generation and cash flows to support divi still look good.
I am uneasy about the loss, though the operating profit was fine.
Any thoughts?
2 users thanked dyfed for this post.
Mr Helpful on 27/09/2017(UTC), what me, worry? on 30/09/2017(UTC)
Sara G
Posted: 25 September 2017 11:02:55(UTC)

Joined: 07/05/2015(UTC)
Posts: 480

Thanks: 745 times
Was thanked: 764 time(s) in 308 post(s)
Topped up SLS today to catch the dividend (goes ex-div on Thursday). I think the pessimism over the UK generally is overdone and agree with Harry Nimmo's more upbeat take on the prospects for smaller companies in particular, the best of which will prosper regardless of what happens with Brexit. If I'm wrong at least I'll be in good company!
4 users thanked Sara G for this post.
Freddy4Skin on 25/09/2017(UTC), Jeff Liddiard on 25/09/2017(UTC), MoMoney on 25/09/2017(UTC), dlp6666 on 26/09/2017(UTC)
Jeff Liddiard
Posted: 26 September 2017 14:56:19(UTC)

Joined: 20/01/2012(UTC)
Posts: 423

Thanks: 1209 times
Was thanked: 231 time(s) in 136 post(s)
Has anyone got a view on Card Factory? SP down today from approx £3.23 to £2.90 as I write but special div of 15p and interim divi of 2.90p soon (ex divi date 9th Nov). profits down but they are expanding by opening new stores. If less money in customers' pockets, possibly more business for Card Factory as we won't stop sending cards, we'll just want to buy them cheaper. Our local store is often very busy and you can buy acceptable quality of cards at very low prices. I've thought about buying the shares for a while now but with the price down today just thought I'd ask for opinions. Not really looking at the dividend long term, more about growth of sp and then sell at a profit.
t s
Posted: 26 September 2017 15:21:22(UTC)

Joined: 03/03/2016(UTC)
Posts: 8

Thanks: 5 times
Was thanked: 7 time(s) in 4 post(s)
Jeff Liddiard;51435 wrote:
Has anyone got a view on Card Factory? SP down today from approx £3.23 to £2.90 as I write but special div of 15p and interim divi of 2.90p soon (ex divi date 9th Nov). profits down but they are expanding by opening new stores. If less money in customers' pockets, possibly more business for Card Factory as we won't stop sending cards, we'll just want to buy them cheaper. Our local store is often very busy and you can buy acceptable quality of cards at very low prices. I've thought about buying the shares for a while now but with the price down today just thought I'd ask for opinions. Not really looking at the dividend long term, more about growth of sp and then sell at a profit.



Lots of online greeting card company's out there, where you can send any type of greeting card for zero cost.
1 user thanked t s for this post.
Jeff Liddiard on 26/09/2017(UTC)
RWM
Posted: 26 September 2017 15:30:11(UTC)

Joined: 15/12/2016(UTC)
Posts: 14

Was thanked: 8 time(s) in 4 post(s)
Jeff Liddiard;51435 wrote:
Has anyone got a view on Card Factory? SP down today from approx £3.23 to £2.90 as I write but special div of 15p and interim divi of 2.90p soon (ex divi date 9th Nov). profits down but they are expanding by opening new stores. If less money in customers' pockets, possibly more business for Card Factory as we won't stop sending cards, we'll just want to buy them cheaper. Our local store is often very busy and you can buy acceptable quality of cards at very low prices. I've thought about buying the shares for a while now but with the price down today just thought I'd ask for opinions. Not really looking at the dividend long term, more about growth of sp and then sell at a profit.


Personally I don't think it's an attractive investment for a long-term hold. My own view on the sector is perhaps jaundiced by the likes of Birthdays, Clinton Cards - both of which suffered terrible losses for investors - but I would argue whether it's a business that has strong future potential, particularly when factoring in the (i) on-line presence of the on-line players such as Moonpig and (ii) anecdotally, I don't see as many of the younger generation buying cards these days. I may well be wrong, but for me, it's not a company whose share I would want to hold for 10 years, so I wouldn't make the trade regardless of whether the current fall is an overreaction or not.
2 users thanked RWM for this post.
Jeff Liddiard on 26/09/2017(UTC), Tim D on 26/09/2017(UTC)
Mr Helpful
Posted: 27 September 2017 07:16:03(UTC)

Joined: 04/11/2016(UTC)
Posts: 352

Thanks: 389 times
Was thanked: 403 time(s) in 203 post(s)
dyfed;51370 wrote:
PHNX is currently my biggest share holding, had it for years and pays a great divi. Currently share price has fallen ex-divi.
PHNX report an after tax loss in the first half of 2016, mainly "due to the cost of the hedging programme used to protect the Group's solvency and cash flows. For example, the equity put options held to protect the life company solvency position against falls in equities have made a loss as markets have risen". Cash generation and cash flows to support divi still look good.
I am uneasy about the loss, though the operating profit was fine.
Any thoughts?


Wish someone more knowedgeable would chip in.
Have looked at Phoenix from time to time on their acquisition trail, forever adding businesses nobody else wants; but hopelessly out of depth re business model and the loss.

Note the dividends effectively flat-lining so yields of over 8% could be achieved a few years back on similar dividends but lower price.

One for the more sophisticated investor perhaps?
Will continue to watch and build up info.
Thanks
1 user thanked Mr Helpful for this post.
dyfed on 27/09/2017(UTC)
what me, worry?
Posted: 27 September 2017 15:50:17(UTC)

Joined: 20/11/2007(UTC)
Posts: 31

Thanks: 115 times
Was thanked: 31 time(s) in 11 post(s)
Card factory is a difficult one for me.

negatives: on the high st with the attendant costs,crowded market and they have have altered their original business model by introducing more *expensive* ranges. (*Its all relative their expensive ranges still undercut the likes of tesco by at least 50%*)


positives: on the high st with main line footfall, manufacture and source own product which helps keep costs down, have a good "special" offer selection.

Couldnt get in on the ipo (big boys only) but watching with interest now. Personally I think that of all the destination card shops this is the one most likely to survive in a downturn. But what do I know I bought clln and pfg just as they fell over............


1 user thanked what me, worry? for this post.
Jeff Liddiard on 27/09/2017(UTC)
jvl
Posted: 27 September 2017 18:23:29(UTC)

Joined: 01/04/2016(UTC)
Posts: 324

Thanks: 184 times
Was thanked: 375 time(s) in 165 post(s)
It's always busy but I wonder how a high street card shop, with rising costs, can get by on selling 99p items and the odd piece of wrapping paper. Surely a newsagents has more going for it because there are only so many cards needed on a daily basis.

I got used to looking in there first when wanting a birthday card but the last few times I've walked out and bought elsewhere because the selection has been small and not good enough.

They've taken to filling their shelves with the latest non-birthday occasion cards weeks in advance at the expense of the basics. It used to be easy to pick up a decent enough card but now it's getting to be an annoying shopping experience. And I speak as someone who loves saving money! It isn't worth the hassle for saving a £1 on someone's birthday.
1 user thanked jvl for this post.
Jeff Liddiard on 27/09/2017(UTC)
Jay Mi
Posted: 27 September 2017 18:46:59(UTC)

Joined: 11/03/2017(UTC)
Posts: 71

Thanks: 46 times
Was thanked: 59 time(s) in 31 post(s)
Card factory - I deliver stamps to them occasionally. There's usually a queue of 4-5 people, very rare for there to be no one at the till point paying. At Christmas it is rammed. Balloons, they also sell for different occasions, along with the usual knock knack gifts. It's a lot busier than Clintons, which more often than not is empty when delivering to them. I don't know if this is just to do with the location and it being a small Clintons store. The card factory i deliver to is off of the high street, in the units i'd assume are cheaper to lease.
1 user thanked Jay Mi for this post.
Jeff Liddiard on 27/09/2017(UTC)
Tyrion Lannister
Posted: 29 September 2017 22:41:35(UTC)

Joined: 03/03/2017(UTC)
Posts: 214

Thanks: 134 times
Was thanked: 132 time(s) in 85 post(s)
I've held Woodford Equity Income since day 1 but have decided to sell next week when it's gone xd. The fund has too many holdings for my liking and I think Woodford is out of his depth in small cap tech and start ups.

I still have a lot of respect for him and I was going to replace it with his income focus fund. I'm having second thoughts though and am considering EDIN instead. It's discount has grown to 9% which makes me think it's the better long term bet.

Any thoughts welcome....
Sara G
Posted: 30 September 2017 10:23:22(UTC)

Joined: 07/05/2015(UTC)
Posts: 480

Thanks: 745 times
Was thanked: 764 time(s) in 308 post(s)
Tyrion Lannister;51558 wrote:
I've held Woodford Equity Income since day 1 but have decided to sell next week when it's gone xd. The fund has too many holdings for my liking and I think Woodford is out of his depth in small cap tech and start ups.

I still have a lot of respect for him and I was going to replace it with his income focus fund. I'm having second thoughts though and am considering EDIN instead. It's discount has grown to 9% which makes me think it's the better long term bet.

Any thoughts welcome....


I like LWI - multi-cap exposure, 3% yield and the discount (7.5%) is wider than its 12 month average. Performance over 5 years is more volatile than EDIN, however, so it depends on what role it will play in your portfolio. It goes ex-div on 5/10 so now may be a good time to buy.
2 users thanked Sara G for this post.
what me, worry? on 30/09/2017(UTC), Tyrion Lannister on 01/10/2017(UTC)
what me, worry?
Posted: 30 September 2017 10:59:15(UTC)

Joined: 20/11/2007(UTC)
Posts: 31

Thanks: 115 times
Was thanked: 31 time(s) in 11 post(s)
Im looking to add a couple of european IT's any thoughts? I currently have a small amount of EAT and AEFS.
But I would like to add some additional good/stable income producing funds.

Many Thanks
King Lodos
Posted: 30 September 2017 11:53:58(UTC)

Joined: 05/01/2016(UTC)
Posts: 1,891

Thanks: 332 times
Was thanked: 2547 time(s) in 1041 post(s)
Tyrion Lannister;51558 wrote:
I've held Woodford Equity Income since day 1 but have decided to sell next week when it's gone xd. The fund has too many holdings for my liking and I think Woodford is out of his depth in small cap tech and start ups.

I still have a lot of respect for him and I was going to replace it with his income focus fund. I'm having second thoughts though and am considering EDIN instead. It's discount has grown to 9% which makes me think it's the better long term bet.

Any thoughts welcome....


Personally I think you'll do better in a FTSE World index tracker, drawing an income from capital.

Woodford Equity Income and EDIN were among my largest holdings a few years ago – but I envisaged problems in such a niche sector (UK Equity Income), with everyone bidding up the same few stocks, too many retail and pension investors hunting for yield, companies paying higher dividends than earnings, size constraints, etc.

I think Woodford's recent run of bad luck says a lot about valuations – if you want cheap/sustainable, you need to take more risk, and I think he's either hit a run of extremely bad luck, or he's proving that risk premiums are being seriously stretched, and he's taking the hit now that investors in more 'consensus' stocks are going to face at some point
4 users thanked King Lodos for this post.
Tim D on 30/09/2017(UTC), Keith Hilton on 30/09/2017(UTC), what me, worry? on 01/10/2017(UTC), Tyrion Lannister on 01/10/2017(UTC)
Mr Helpful
Posted: 01 October 2017 10:41:50(UTC)

Joined: 04/11/2016(UTC)
Posts: 352

Thanks: 389 times
Was thanked: 403 time(s) in 203 post(s)
what me, worry?;51563 wrote:
Im looking to add a couple of european IT's any thoughts? I currently have a small amount of EAT and AEFS.
But I would like to add some additional good/stable income producing funds.

Many Thanks


JETI seems a possibility.
VERX for the unfussy less income orientated investor.

Neither would rate as particularly cheap presently, but then what is!
1 user thanked Mr Helpful for this post.
what me, worry? on 01/10/2017(UTC)
Big boy
Posted: 01 October 2017 11:26:50(UTC)

Joined: 20/01/2015(UTC)
Posts: 223

Thanks: 15 times
Was thanked: 239 time(s) in 120 post(s)
Be careful chasing taxable income when spending a little capital will mean less for tax man so you could retain more capital. It is important to look at how the expenses have been charged. If you start with 100 paying 5% and borrow 50 you can pay 7 1/2% by charging cost of debt say 2% plus 3% expenses to capital. Ie at end of first year your income is 71/2% and your capital is down to 95. Also if your investments fell by 10% ie capital would fall to 85.plus the exs of 5. These figure would be extreme (to start with) but it gives you and idea of the advantages and disadvantages of gearing. The leading Commercial Property Companies (British Land/Land Securities) are factoring in a fall of 20% as they stand on discount of 30%. Some of these high yielding cos could soon run into trouble then the Banks will not allow them to pay the revenue out as the debts needs to be protected.
3 users thanked Big boy for this post.
Tim D on 01/10/2017(UTC), Mr Helpful on 01/10/2017(UTC), Tyrion Lannister on 01/10/2017(UTC)
Tim D
Posted: 02 October 2017 11:50:08(UTC)

Joined: 07/06/2017(UTC)
Posts: 215

Thanks: 795 times
Was thanked: 272 time(s) in 128 post(s)
Bought a little HICL this morning at 154.7, for the income portfolio. I'm betting that doom is usually short term and overdone. Of course I wouldn't be surprised to see it go even lower over the week depending what fun and games we see in Manchester.

Bought enough to get me to around the holding I'd have had if the share offer earlier this year at 159p hadn't been so massively scaled back.
1 user thanked Tim D for this post.
what me, worry? on 02/10/2017(UTC)
geoffrey Walton
Posted: 02 October 2017 12:06:52(UTC)

Joined: 27/06/2014(UTC)
Posts: 149

Thanks: 58 times
Was thanked: 75 time(s) in 51 post(s)
Hello all,
I have a matured £6K ISA, and am thinking of adding to my holdings.
Linsdell Train Global
Rathbone Global
Finsbury IT
RCP IT
Witan IT

I am minded to either split it between RCP(return of capital better than return on capital) and Witan, or put it all in either.

Any thoughts please. Reinvesting in cash seems a waste of time
Mickey
Posted: 02 October 2017 12:43:36(UTC)

Joined: 21/06/2010(UTC)
Posts: 375

Thanks: 1043 times
Was thanked: 331 time(s) in 170 post(s)
Witan seems to have stalled of late which may explain the slight dip to a lower discount. RCP is on a ridiculous +8.5 premium, I tend to buy it when much lower but it has proven resilient for some time now. I'd probably opt for WTAN unless I was short Finsbury when I would top that one up.

Might be of interest that John Baron was buying Edinburgh Worldwide recently for its smaller co's element.
Big boy
Posted: 02 October 2017 14:03:26(UTC)

Joined: 20/01/2015(UTC)
Posts: 223

Thanks: 15 times
Was thanked: 239 time(s) in 120 post(s)
For bedtime reading and a few ideas suggest you check out latest Annual Report and Accounts for EL Oro. ELX.
Robin Woodbine Parish always has a view.......

1 user thanked Big boy for this post.
Mickey on 02/10/2017(UTC)
148 Pages«Previous page128129130131132Next page»
+ Reply to discussion

Markets

Other markets