"Good companies don't always perform as well as their shareholders would like, but long-term investors will not remain long-term shareholders if they sell out whenever there's a problem. LSE:SPRP:Sprue Aegis and LSE:NXT:Next have problems, as ..."
I still retain a small holding in FWT.
Results seem up to scratch. Stock is still selling on a very high PE ratio and whilst there is a good rate of divi growth the actual payout is limited. Cash grew by maybe £6 million, so a bit disappointing no special divi. I wonder if, following the retirement of the previous Chairman, the "new" senior management have some big ideas as to how to spend the big cash pile they have. There was a big increase in capex and lots of mention of efficiency improvements and capacity increases in the report. Lightronics seems to be a largish business so maybe an opportunity to grow in the Eu from there.
I can't fault the management so continue to hold and follow. Maybe there will be an opportunity to buy at lower PE's as time goes on.
"Grand tour - stage 2Stage two of my Grand Tour across the middle of England took me from LSE:NXT:Next's AGM in an anonymous hotel just off the M1 in Leicester to LSE:CHH:Churchill China's site spread out on a hill in the northern fringes of ..."
Remarkable rise in price since I sold half of my holdings at around £3.00. Much extended PE ratio. No inkling of bad Company news. Could be a retrace in the share price but I'm in "for free" and timing of exits and entries can prove quite challenging.
If the last 3 months is anything to go by,..+c20%, I would be quite happy to mark time on any investment! Now really looking to crystallise some profits and hold along with divis as cash pending next bout of fun and games.
Have now set a tight trailing sell for 1/3 of holdings.....did say it would be too big a component if went above 330ish but other shares like GBG, JHD, XPP, WJG etc have meant that % of portfolio not really increased so been happy to run profits.
Interesting market times ahead though.....glad took profits on couple of house builders and had opened up 3UKS (3x short FTSE 100) before this weeks little pressie of uncertainty.
Thorpe share price is on quite extended PE ratio. IHMO nextresults need to be remarkable to justify current share price. I've exited most of mine for the moment. May regret my decision as Thorpe is a fine Company. If share price dips I will probably add to my now limited holding.
Thorpe's share price has been on the move upwards in recent weeks.
In their Trading Updates The Board are not in the habit of being overoptimistic re projections of its business, so the information is the link might be viewed as being very positive! Nevertheless the Company is trading on quite a high PE ratio already!
Whilst the % increase in EPS may be not quite as high in previous years, Thorpe has generated significantly more cash than in the previous year, some of which has been invested in securities which makes sense given the current very low interest rates on cash deposits.
The strategic move towards generating business in the EU has been rewarded with a significant growth in sales revenue, accompanied by a more modest increase in the UK.
From comments in the text of the report, sales in Spain (via the new associate Company) have yet to take off but may be poised to in the coming years. It seems that the Dutch subsidiary products are quite popular in the UK (more aesthetically pleasing but higher priced than those made in the UK.) Maybe robbing Peter to pay Paul but product diversification is no bad thing. and one of Thorpe's great strengths in its chosen lighting markets.
So a nice increase in the divi, well covered and great level of diversification in its chosen fields. One gets the impression that Thorpe management are not exactly overjoyed by Brexit referring the the difficulties of generating sales in the the likes of India, China and Brazil said to be highly protected compared with the great successes just across the Channel.
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