Good afternoon! It's Paul here.

Today I report on the following announcements;

  • Victoria - Reorganisation & trading update
  • Warpaint - AGM statement
  • Michelmersh - big acquisition
  • Avingtrans - trading update & contract extension
  • LPA Group - interims
  • Surgical Innovations - trading update





Mello Beckenham

Last call for David Stredder's long-running & very popular investment evenings in Beckenham.

Tonight's event has some interesting speakers, and I think there are a few places left.

Contact David here, if you're interested in attending. They're very enjoyable socially too, as everyone has a common interest in shares, and newbies are always welcomed warmly by David, and introduced to a few people.



Victoria (LON:VCP)

Share price: 498.5p (up 1.1% today)
No. shares: 91.0m
Market cap: £453.6m

Manufacturing Logistics Reorganisation Update - this company has been a remarkably successful buy & build of carpet/flooring companies, in the UK & Australia.

The announcement starts by emphasising that this reorganisation is being done for positive reasons;

...today announces that due to rapid growth and continued significant demand for its products, it is reorganising the Group's UK manufacturing footprint and logistics operations principally to increase production capacity and improve service levels for customers.   Each of these positive developments will also progressively improve margins for the Group.


Production in Kidderminster is being moved to 2 other UK sites.

As regards logistics, the company says that it will move its distribution centre from another (too small) site, to the larger Kidderminster site. This will give "significantly increased capacity".

It intends opening 2 further new distribution centres (in NW London, and in the North), in late 2018 onwards.


Trading update - this sounds reassuring;

...the Group's underlying profits before tax will be well ahead of last year and the Board is confident of meeting market expectations for the financial year ending 31 March 2018.


Being well ahead of last year is nothing new - that's already baked into broker forecasts. So the bit that matters, is "confident of meeting market expectations".

I like it when companies are confident early in the financial year, as it can sometimes mean that they're heading for an earnings beat, but are not quite ready to say so (just in case something goes wrong later in the year).


Outlook - all sounding confident;

The…

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