Stockopedia StockSlam - February 2019

Tuesday, Mar 26 2019 by

A few weeks ago I enjoyed myself at the first Stockopedia StockSlam of the year. Once again we managed to deliver an excellent line-up of presenters all happy to stand-up in front of a packed out audience. It's always a surprise, to me, finding out which companies are going to be presented but it's usually a happy surprise. Generally there's a good mix of names that I'm familiar with along with some that I've never heard about before but may end up becoming of interest. It's a lot like running a screen on Stockopedia but with an added human touch!

Stop press: I'm pleased to say that the next StockSlam will take place next week! If you'd like to present, which I thoroughly recommend, please follow the instructions here:

Cake Box (CBOX)

  • Recent listing floated in June last year at 108p - hit current share price within two weeks and has stayed roughly at this level ever since

  • A specialist retailer who does fresh cream cakes but not just any old cakes - they are egg free

  • Company started in 2008 and has grown up to 91 franchise stores

  • Aim is to go from 91 stores to 250 - opening roughly two a month they’ve got a fairly long runway ahead of them

  • At half year results they did 4.35p EPS while current forecast for the year is 8.1p so perhaps that is something of an underestimate?

  • They’ve opened 12-15 stores in the first half and they’re due a similar number in the second half. If you've got 100 stores, and you are opening something like 20 a year, that’s a pretty material increase in stores and should generate a lot more in sales

  • Online sales are up 86% in the first half and they are opening a new warehouse facility in the north, so that will obviously give them better coverage in the rest of the country

  • Online customer reviews are very mixed. You either have people saying 5 stars, fantastic cakes, not had better or essentially one star, it was stale, it was like a brick, it was inedible

  • Employee reviews are also mixed and some say that it isn’t a great place to work. They seem to be minimum wage people, or even the people being brought in on unpaid internships, and they are being made to decorate cakes 14 hours a day and they don’t really like it that much

  • They only…

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Cake Box Holdings PLC is a United Kingdom-based franchise retailer and manufacturer of cakes. The Company operates its retail stores under the name Egg free Cake Box. It manufactures and sells personalized fresh cream and egg free cakes. The Company offers a range of cakes that include cup cakes, photo cakes, number cakes, fruit cakes, mendhi cakes, round cakes, kid’s cakes, platter cakes, and wedding cakes. It provides customized cakes for purchase on demand or ordered advance in store or online through The Company operates over 110 franchise stores in the United Kingdom. more »

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Frenkel Topping Group Plc is a United Kingdom-based company engaged in the provision of financial services advice. The Company, along with its subsidiaries, is engaged in providing independent financial advice and investment management services to personal injury and clinical negligence victims. It offers independent financial advice for individuals in later life, as well as those under the supervision of the Court of Protection. It offers litigation support services, including periodical payment orders, care assessments, court of protection returns, private trust reports, welfare benefits advice, personal injury trusts and pension loss reports. It provides training for solicitors and barristers that cover a range of issues, including Professional Negligence Awareness, The Court of Protection and Office of the Public Guardian, and Investment Issues for Personal Injury Claimants. Its subsidiaries include Frenkel Topping Limited and Frenkel Topping Investment Management Limited. more »

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EVRAZ plc is a steel, mining and vanadium business with operations in the Russian Federation, Ukraine, the United States, Canada, the Czech Republic, Italy, Kazakhstan and South Africa. The Company's principal activities include manufacturing steel and steel products; iron ore mining and enrichment; coal mining; manufacturing vanadium products, and trading operations and logistics. Its segments include Steel; Steel, North America; Coal, and Other Operations. The Steel segment is engaged in the production of steel and related products at all mills except for those located in North America. The Steel, North America segment is engaged in the production of steel and related products in the United States and Canada. The Coal segment includes coal mining and enrichment. Other Operations include energy-generating companies, shipping and railway transportation companies. more »

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  Is LON:CBOX fundamentally strong or weak? Find out More »

1 Post on this Thread show/hide all

abtan 27th Mar 1 of 1

Thank you for this post (and in fact all your posts), they are much appreciated.

A quick note as a holder of Sylvania Platinum (LON:SLP) for which it has been mentioned that Palladium makes up 40% of the business.

My notes indicate the following prill splits:
Platinum: 63%
Palladium: 24%
Rhodium: 13%

The figures were taken from an old presentation and I "assumed" they were a reasonable split of the company's core revenue drivers, but perhaps my understanding of a prill is misplaced.

That aside, I think that was a decent summary of the upside/downside risk for the company, which summarise my own reasons for buying in.


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