Mallett Discussion Board http://www.iii.co.uk/investment/detail?code=cotn:MAE.L&display=discussion http://www.iii.co.uk/icons/logos/uk_logo.gif http://www.iii.co.uk tag:iii.co.uk,2003:tst.9656653 http://www.iii.co.uk/investment/detail?code=cotn:MAE.L&display=discussion&id=9656653&action=detail Fri, 18 May 2012 08:07:00 GMT TX2 tag:iii.co.uk,2003:tst.9281805 Tips of the Week:
12 Feb 2012
Thomson also offers his 2012 'Bargain Shares' portfolio: Trading Emissions, Rugby Estates, Telford Homes, MJ Gleeson, Mallett, Stanley Gibbons, Eurovestech, Bloomsbury Publishing, Indigovision and Molins.
http://bit.ly/sPjaXE By SpikeyDT ]]> http://www.iii.co.uk/investment/detail?code=cotn:MAE.L&display=discussion&id=9281805&action=detail Sun, 12 Feb 2012 20:27:00 GMT SpikeyDT tag:iii.co.uk,2003:tst.9274946 http://www.iii.co.uk/investment/detail?code=cotn:MAE.L&display=discussion&id=9274946&action=detail Fri, 10 Feb 2012 12:13:00 GMT TX2 tag:iii.co.uk,2003:tst.9225235 Activist investor Peter Gyllenhammar has increased his stake in fine art and antiques dealership Mallett (MLLT.L), which filed an operating loss of £1.3 million in 2010.
by David Campbell on Jan 30, 2012 at 12:03
http://bit.ly/AByQEK By SpikeyDT ]]> http://www.iii.co.uk/investment/detail?code=cotn:MAE.L&display=discussion&id=9225235&action=detail Mon, 30 Jan 2012 11:24:00 GMT SpikeyDT tag:iii.co.uk,2003:tst.8649781 Created: 12 August 2011 Written by: Nigel Bolitho
http://bit.ly/mPlKda

The key news from Mallett is that the company hopes to assign the remaining 19-year lease on its five-storey central London New Bond Street HQ and showrooms to upmarket retailer Fendi. If the deal goes through as planned in January it will save Mallett £1.2m a year in rent, while the lease on similar premises a few corners away could be half that figure.
Cost-saving is certainly the name of the game for Mallett as demand for 17th and 18th century English furniture continues to decline in the UK and US markets. Fortunately, it bought a lot of furniture cheaply during the credit crunch so earned higher margins on sales. As a result, both UK and US furniture losses fell. There was also an overall positive profit contribution from other interests thanks to an amazing contribution from Met,a which makes a range of 10 contemporary products from traditional materials. The products include a lantern, two wardrobes and a coffee table and margins are to die for: In the latest half year, sales of £362,000 realised pre-tax profits of £199,000.
Following the better first-half performance, full-year losses could be below £1m and might be a lot less if Mallett's latest venture - selling furniture to wealthy Chinese householders via a trade fair in Hong Kong in October - proves fruitful.
MALLETT (MAE)
ORD PRICE: 70p MARKET VALUE: £9.66m
TOUCH: 67-73p 12-MONTH HIGH: 77.5p LOW: 62p
DIVIDEND YIELD: nil PE RATIO: NA
NET ASSET VALUE: 105p NET DEBT: 2%
Half-year
to 30 June Turnover (£m) Pre-tax profit (£000) Earnings per share (p) Dividend per share (p)
2010 7.09 -793 -5.25 nil
2011 6.43 -280 -2.12 nil
% change -9 - - -
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IC VIEW
GoodValue
Mallett's shares have not moved much this year which is a bonus in today's turbulent stock markets. Trading on a big discount to net asset value - and considering that the company has a virtually ungeared balance sheet - they remain good value. By SpikeyDT ]]> http://www.iii.co.uk/investment/detail?code=cotn:MAE.L&display=discussion&id=8649781&action=detail Fri, 12 Aug 2011 17:27:00 GMT SpikeyDT tag:iii.co.uk,2003:tst.8464587 The expensive Wall Street,NY premises perhaps should go as well.

By TX2 ]]> http://www.iii.co.uk/investment/detail?code=cotn:MAE.L&display=discussion&id=8464587&action=detail Wed, 29 Jun 2011 09:43:00 GMT TX2 tag:iii.co.uk,2003:tst.8076572 Created: 4 April 2011 Written by: Nigel Bolitho
Mallett was hit hard by the recession and while the global art market recovered dramatically in 2010 - notably for impressionist and modern art - demand for 16th and 17th English furniture (Mallett's speciality) has stayed in the doldrums. Sales in both the UK and US dropped sharply and there was also a fall in revenues from selling British sporting pictures and manufacturing contemporary design furniture from antique wood. Only restoration income increased.
However, losses narrowed due to a reduction in staff numbers and a £350,000 cut in admin expenses from £1.68m to £1.32m. An interesting aspect of the latest figures is that a £2.14m deferred tax asset relating to some £6m of tax losses is not being carried forward. As a result there’s a £1.14m tax charge which almost doubles post tax losses - while its removal from the balance sheet largely accounts for the fall in end-December net assets. The next cost hurdle is to find a buyer for Mallett's 20-year lease on its imposing 12,000 sq ft, five floor Bond Street showroom. It's not needed because these days far fewer buyers than ever go to showrooms - but the rent is £1.2m a year.
Expect 2011 trading figures to be close to last year’s results.
MALLETT (MAE)
ORD PRICE: 72.5p MARKET VALUE: £10.0m
TOUCH: 70-75p 12-MONTH HIGH: 77.5p LOW: 61p
DIVIDEND YIELD: nil PE RATIO: na
NET ASSET VALUE: 109p NET DEBT: 4%
Year to 31 Dec Turnover (£m) Pre-tax profit (£m) Earnings per share (p) Dividend per share (p)
2006 16.6 12.67 72.8 9.2
2007 17.5 1.32 6.4 8.4
2008 12.1 -5.97 -31.5 nil
2009 14.0 -1.77 -11.9 nil
2010 13.3 -1.42 -19.1 nil
% change -5 - - -
General Retailers
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SHARE TIP UPDATE:
GoodValue
Mallett must be considered a contrarian investment. There's little good news right now, but costs seem under control and trading a third below net asset value, the shares offer value. Good value.
Last IC view: Buy, 67.5p, 26 March 2010 By SpikeyDT ]]> http://www.iii.co.uk/investment/detail?code=cotn:MAE.L&display=discussion&id=8076572&action=detail Mon, 04 Apr 2011 12:36:00 GMT SpikeyDT tag:iii.co.uk,2003:tst.7065706 http://www.iii.co.uk/investment/detail?code=cotn:MAE.L&display=discussion&id=7065706&action=detail Wed, 13 Oct 2010 10:30:00 GMT TX2 tag:iii.co.uk,2003:tst.5824146 (So expect a takover bid at £1 per share tomorrow!)
Best wishes to all holders. HP By Hanky Panky ]]> http://www.iii.co.uk/investment/detail?code=cotn:MAE.L&display=discussion&id=5824146&action=detail Mon, 18 Jan 2010 15:11:00 GMT Hanky Panky tag:iii.co.uk,2003:tst.5320833 iii.The shares are modestly valued still on the basis we should see some improvement in the top end antique market eventually. By TX2 ]]> http://www.iii.co.uk/investment/detail?code=cotn:MAE.L&display=discussion&id=5320833&action=detail Thu, 17 Sep 2009 12:53:00 GMT TX2 tag:iii.co.uk,2003:tst.5315788 http://www.iii.co.uk/investment/detail?code=cotn:MAE.L&display=discussion&id=5315788&action=detail Wed, 16 Sep 2009 14:52:00 GMT Hanky Panky tag:iii.co.uk,2003:tst.5248494 Whatever, I shall hang in here as I see the possibility of the price doubling over the next year...well more or less it only has to continue its recent progress.
With huge inflation anticipated. antiques must be as good a bet as gold. By Hanky Panky ]]> http://www.iii.co.uk/investment/detail?code=cotn:MAE.L&display=discussion&id=5248494&action=detail Wed, 02 Sep 2009 06:42:00 GMT Hanky Panky tag:iii.co.uk,2003:tst.5204342 By barrelscraper ]]> http://www.iii.co.uk/investment/detail?code=cotn:MAE.L&display=discussion&id=5204342&action=detail Fri, 21 Aug 2009 14:29:00 GMT barrelscraper tag:iii.co.uk,2003:tst.5203501 http://www.iii.co.uk/investment/detail?code=cotn:MAE.L&display=discussion&id=5203501&action=detail Fri, 21 Aug 2009 12:44:00 GMT Hanky Panky tag:iii.co.uk,2003:tst.4890129 http://www.iii.co.uk/investment/detail?code=cotn:MAE.L&display=discussion&id=4890129&action=detail Thu, 28 May 2009 09:08:00 GMT Hanky Panky