Topps Tiles Discussion Board http://www.iii.co.uk/investment/detail?code=cotn:TPT.L&display=discussion http://www.iii.co.uk/icons/logos/uk_logo.gif http://www.iii.co.uk tag:iii.co.uk,2003:tst.9398005 http://www.iii.co.uk/investment/detail?code=cotn:TPT.L&display=discussion&id=9398005&action=detail Wed, 07 Mar 2012 14:31:00 GMT Eaglehurst tag:iii.co.uk,2003:tst.9144881 Small-caps:
By David Keohane
http://on.ft.com/yUtg7o By SpikeyDT ]]> http://www.iii.co.uk/investment/detail?code=cotn:TPT.L&display=discussion&id=9144881&action=detail Tue, 10 Jan 2012 22:03:00 GMT SpikeyDT tag:iii.co.uk,2003:tst.9010844 ')" target="_new" rel="nofollow">http://www.ft.com/cms/s/0/8eb96584-1aa3-11e1-bc34-00144feabdc0.html#ixzz1f8K8cq6F

November 29, 2011 8:13 pm
Small caps:
By Neil Hume


Topps Tiles improved 2.2 per cent to 23½p even though the retailer said same stores sales had fallen by almost 7 per cent in the past seven weeks. However, there was relief that trading was not worse and the shares were also supported by a Panmure Gordon “buy” recommendation.

Analyst Philip Dorgan reckons Topps could be a recovery stock: “Poor current trade will lead to downgrades. With the tile sector unlikely to disintermediate online, we think that there is still an opportunity for Topps Tiles to recover. Going forward, if cash can be controlled and if a recovery of some sort can be engineered, then the shares are undervalued. However, we would expect it to take a while for this to be reflected in the shares,” he said.
By SpikeyDT ]]> http://www.iii.co.uk/investment/detail?code=cotn:TPT.L&display=discussion&id=9010844&action=detail Tue, 29 Nov 2011 21:50:00 GMT SpikeyDT tag:iii.co.uk,2003:tst.8791102 12:30 pm by Jon Mainwaring
http://bit.ly/nW5gqq

Although sales are down, Numis Securities believes Topps’ shares have fallen too far in recent weeks
Topps Tiles (LON:TPT) rates as a ‘buy on weakness’ according to Numis Securities, which switched its view on the share from ‘hold’ after the firm announced that recent trading had been in line with expectations in an update this morning. The market responded to the update by putting more than 20 per cent onto the price of the shares.
Topps, which at the end of November is due to announce its final results for its 2011 financial year, said that overall UK revenues for the 52 week period to October 1 had been in the region of £175.7 million (2010: £182. 4 million).
Like-for-like revenues are expected to show a decrease of 1.9 per cent and the group said it will end the year with a total of 320 stores in the UK, having opened 15 during the 12 months to October and closed or relocated seven others.
Numis said that since the firm’s share price had declined almost 50 per cent since a profit warning a month ago the share now trades on just 4.9 times forecast earnings for the year to September 2012 (5.3 pence per share). “At this level, we think the shares are undervalued and move to ‘buy’,” said the broker, which has set a target price of 32 pence per share for Topps.
At lunchtime today, the shares were trading higher by 21.2 per cent at 30.9 pence each. By SpikeyDT ]]> http://www.iii.co.uk/investment/detail?code=cotn:TPT.L&display=discussion&id=8791102&action=detail Tue, 27 Sep 2011 21:03:00 GMT SpikeyDT tag:iii.co.uk,2003:tst.8791097 Small caps:
By Neil Hume and Bryce Elder


In the same sector, Topps Tiles climbed 25.5 per cent to 32p on news that full-year results would be in line with City expectations. “Going forward, if cash can be controlled and if a recovery of some sort can be engineered, then the shares are undervalued. However, we would expect it to take a while for this optimistic scenario to be reflected in the shares,” said Panmure Gordon retail analyst Philip Dorgan.

http://www.ft.com/cms/s/0/2721783e-e92b-11e0-af7b-00144feab49a.html#ixzz1ZBUheqcP By SpikeyDT ]]> http://www.iii.co.uk/investment/detail?code=cotn:TPT.L&display=discussion&id=8791097&action=detail Tue, 27 Sep 2011 21:00:00 GMT SpikeyDT tag:iii.co.uk,2003:tst.8788352 http://www.iii.co.uk/investment/detail?code=cotn:TPT.L&display=discussion&id=8788352&action=detail Tue, 27 Sep 2011 09:03:00 GMT nicoforever tag:iii.co.uk,2003:tst.8788254 Pre-close period Trading Update


Topps Tiles Plc (the "Group"), the UK's largest tile and wood flooring specialist, reports on trading for the 52 week period ending 1 October 2011, prior to entering its close period. The Board will announce preliminary results for the period on Tuesday 29 November 2011.

We expect to report that overall UK revenues for the 52 week period will be in the region of £175.7 million (2010: £182.4 million). When restated on a same reporting week basis the total revenues will be approximately 1.7% below the prior year. Like-for-like revenues are expected to show a decrease of 1.9% (2010: increase of 1.7%).

The Board expects adjusted pre-tax profit for the 52 week period to be within the range of analysts' estimates 1.

The Group will end the year with a total of 320 stores in the UK, having opened 15 during the financial period and closed or relocated 7 during the same period.

There have been no significant unexpected changes in the financial position of the Group since the publication of the Interim Report for the half year ended 3 April 2011.



Notes:
1 The current range of analysts' estimates for adjusted pre-tax profits for the 52 week period ending 1 October 2011 starts from £12.9 million with a consensus estimate of £13.4 million. By nicoforever ]]> http://www.iii.co.uk/investment/detail?code=cotn:TPT.L&display=discussion&id=8788254&action=detail Tue, 27 Sep 2011 08:44:00 GMT nicoforever tag:iii.co.uk,2003:tst.8771312 Wednesday, Sep 21 2011 by ExpectingValue
http://www.stockopedia.co.uk/content/september-value-stocks-five-to-watch-60343/

Last month, I decided to begin listing value stocks I was interested in - ones that I perhaps hadn't covered yet, wasn't planning to for some reason, or numbers that just caught my eye as I cast my gaze down my various screens. August's list was rather monumental - a feat that I don't think I'll be able to match for quite some time. As I'm looking for diversity, most of the value stocks I discuss became cheap because of both a combination of company specific and sector-wide factors. But it'd surely be no fun if my 'value list' entirely comprised of all the UK housebuilders trading on small tangible books - that doesn't give anyone ideas, just reminds everyone that the housing sector is down in the dumps at the minute!

And so, this month, I've aimed for 5 companies in different sectors, giving different types of exposure, but with one common theme - they all look cheap on an earnings or assets basis. Upon further investigation, I'll probably find most of these difficult to invest in for one reason or another; but throwing them out here at such an early stage helps show what I look at and perhaps will give fellow investors some ideas.


Capital Lease Aviation

This certainly comes under the 'interesting' category! CLA buy (using a large amount of debt) aircraft, which they then lease to other companies - Thomas Cook currently in possession of 3 of their fleet of 6. If you've ever wanted to own an Airbus, then, here's your chance for a slice of that - and you're getting a slice off the actual value, too, as the business is trading for 57% the value of its net assets. The structure of the business means it's currently highly cash generative - depreciation is its main 'expense', with huge cash flow spikes as a new aircraft is purchased and extremely strong inflow otherwise. Realistically, I know I can't invest - I'd want far more knowledge about the depreciation of aircraft, and Thomas Cook being in possession of half their fleet isn't hugely reassuring. With no fundamental knowledge of the aircraft leasing industry, I have no idea how easy it is to renegotiate leases, and industry dynamics are especially vital in a company as leveraged as this. For anyone with that inside knowledge, it may be worth a look.


Begbies Traynor

Begbies Traynor look like a nice counter-cyclical play - potentially a good hedge for my portfolio, whose top three constituents (Barratt, Howden Joinery and N Brown Group) are very closely tied to the whims of the British consumer. They popped up on Twitter a while ago as a fellow tweeter asked for potential 'recession' stocks - ones that'd benefit from a double dip - and my off the cuff answer, sticking true to my value roots, was Begbies Traynor. This nature comes about from their business - insolvency, restructuring, liquidation and risk management. Essentially, their pool of business grows as the number of failing businesses grows. The balance sheet is surprisingly sound for a professional services firm (which usually have few assets and substantial borrowings) , cash flow looks strong, and profits both last year and forecast are good. Last year was marred by a number of exceptionals which more or less saw them breaking even, though, so that'd have to be an area for further investigation. Founder Ric Traynor still sits on the board with a substantial shareholding, which is nice to see, and the dividend richly rewards shareholders, though it was recently cut. Curiously, on the day of writing, the share price has fallen 11% on ostensibly no news. That may be the incentive I need to take a closer look - Communisis were a similar story, with one large and determined seller thumping the price down ~20% in one day. Of course, I need to be certain it's not just a large piece of information I've missed!


Topps Tiles

Topps Tiles sh By SpikeyDT ]]> http://www.iii.co.uk/investment/detail?code=cotn:TPT.L&display=discussion&id=8771312&action=detail Wed, 21 Sep 2011 17:20:00 GMT SpikeyDT tag:iii.co.uk,2003:tst.8686508 http://www.iii.co.uk/investment/detail?code=cotn:TPT.L&display=discussion&id=8686508&action=detail Thu, 25 Aug 2011 16:41:00 GMT moonowl tag:iii.co.uk,2003:tst.8686411
You would be mad to buy now in my opinion. I reckon these could be in the low 20's in a week or two. By liam1om ]]> http://www.iii.co.uk/investment/detail?code=cotn:TPT.L&display=discussion&id=8686411&action=detail Thu, 25 Aug 2011 16:18:00 GMT liam1om tag:iii.co.uk,2003:tst.8686281 http://www.iii.co.uk/investment/detail?code=cotn:TPT.L&display=discussion&id=8686281&action=detail Thu, 25 Aug 2011 15:51:00 GMT downs7017 tag:iii.co.uk,2003:tst.8685277
The driver of footfall/transactions for this business, like the rest in its field, is total housing transactions. Pre the CC UK housing transactions implied on average folks moved every 15 years. At the nadir of the CC (& they're still in this vicinity) they indicate everyone moves every 35 years - or to put it another way, you buy a house once in your life & that's it. Mr Market says this is the new normal & moving in the UK ceases to be. Hmmmmm ........... I doubt that. So massive pent up demand will translate into major footfall driver - so long as g/m remains intact, this is a great recovery play. House price indices over the next quarter will show whether the recovery is on the cards.

You pays your money, you takes your choice. By malj1 ]]> http://www.iii.co.uk/investment/detail?code=cotn:TPT.L&display=discussion&id=8685277&action=detail Thu, 25 Aug 2011 11:58:00 GMT malj1 tag:iii.co.uk,2003:tst.8685157
I don't think our government have a clue how badly confidence is shattered on main street - Mr Joe Public is scared of how long his job will last, tax increases and consumer inflation in the basic essentials of life.

I think we are in for a decade like Japan's slump. The only way out of the mess will be income tax cuts, letting the pound slump to boost exports, and austerity measures focussed on the freeloaders in UK society (Blair's babies) By crafty speculator ]]> http://www.iii.co.uk/investment/detail?code=cotn:TPT.L&display=discussion&id=8685157&action=detail Thu, 25 Aug 2011 11:33:00 GMT crafty speculator tag:iii.co.uk,2003:tst.8684743
It is always the same - the culling of stores will come very late in the day, will cost a lot of money and be done on a panic basis. I agree, look after your core stores. Perhaps they see now a cheap time to expand with retail units being given away on 6 month leases. It is no good if the stuff doesn't shift. By Misty Creamybib ]]> http://www.iii.co.uk/investment/detail?code=cotn:TPT.L&display=discussion&id=8684743&action=detail Thu, 25 Aug 2011 10:02:00 GMT Misty Creamybib tag:iii.co.uk,2003:tst.8684601
Disappointing also to see the management talking about expanding its stores - growth addiction - they would be far better culling weaker outlets and accepting that weak demand is here to stay not a temporary blip. By Omaha man ]]> http://www.iii.co.uk/investment/detail?code=cotn:TPT.L&display=discussion&id=8684601&action=detail Thu, 25 Aug 2011 09:32:00 GMT Omaha man