PMV - Premier Investments

[craft]

Not a bad set of numbers.





Results re-inforce what we were talking about back here.
https://www.aussiestockforums.com/forums/showthread.php?t=23385&p=724948&viewfull=1#post724948

 

[Ves]

Looks pretty good on first glance. Great cash flow, and cost management is on track as promised.

Surprised they have raised the dividend too. Good sign in a well managed business.

 

[notting]

It's amazing how well this company has held up in contrast to the other retailers.

 

[piggybank]

It's amazing how well this company has held up in contrast to the other retailers.

It could be viewed as the premier retail stock atm

P/E Ratio = 18.48
Dividend Yield = 4.4% franking is 100%

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If you want to look at the rest of the presentation, then click on the link:- http://stocknessmonster.com/news-item?S=PMV&E=ASX&N=404125

Breakout from a flag pattern - but with no increase in volume.

​

 

[VSntchr]

I thought the result was good and got on a short term trade yesterday...but was out too soon at $8.65

Some say you don't go broke taking a profit, but you might go :swear:

 

[McLovin]

It could be viewed as the premier retail stock atm

P/E Ratio = 18.48
Dividend Yield = 4.4% franking is 100%

View attachment 57361​

If you want to look at the rest of the presentation, then click on the link:- http://stocknessmonster.com/news-item?S=PMV&E=ASX&N=404125

Breakout from a flag pattern - but with no increase in volume.

View attachment 57360​

I don't think PE tells the full story. You have to remember that these guys have ~$240m net cash + an investment in BRG that is valued at ~$320m (on the books at $185m). They'll probably do somewhere between ~$90-$95m EBIT this year on the retail segment. Current MC ~1.45b - BRG holding $320m - net cash $240m = $890m. The retail business is trading at around 10x EV/EBIT. Not bad when you consider the current growth from Smiggle and Peter Alexander and that the older brands have at least stabilised.

 

[piggybank]

P&F Daily Update:-

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[ukulele]

Fair to say that the market liked the report and this has well and truly broken out. Well done if you traded it, but it looks far to hot at the moment.

 

[Muschu]

Can't argue with today's performance --- and creation of a gap in the chart.... Value here still?

 

[peter2]

Break-out today to a new yearly high for this retailer.

 

[bigdog]

ASX ANNOUNCEMENT TODAY
20/09/2019 8:39:01 AM FY19 Results Announcement

Share price up 12%

792

 

[Dona Ferentes]

The market liked Premier Investments’ full year result, even though the outlook has been clouded by the impact of the lockdowns in NSW, Victoria and the ACT.

Shares in Solomon Lew’s main retailing venture rose 3% yesterday to $27.63 after Premier revealed a result that was a probably a bit better than thought – a 97.3% jump in consolidated net profit after tax to $271.8 million for the 53 weeks ended July 31.

That was on a more modest but still strong 18.7% rise in total sales for the year to a record $1.4 billion, with like for like (LFL) sales growth of 15.9% (in constant currency).

Final dividend was lifted 10 cents to 46 cents a share, a record, making a total for the year to 80 cents a share.

Like the closing months of the 2019-20 year, Premier once again had to battle the impact of lockdowns and outbreaks. Across its global networks, it faced temporary government mandated store closures across for 52 of the 53 trading weeks during 2020-21.

“All geographic segments in which the Group operates have been affected by these temporary store closures during this financial year," the company told the ASX.

 

[sptrawler]

I wonder if Solomon will have a tilt at David Jones and offload Myers?

David Jones sale now a possibility, reveals boss​

The retailer has emerged with a slightly smaller profit but its future remains unclear as reports grow its South African parent is looking to sell the department store.

 

[Garpal Gumnut]

I wonder if Solomon will have a tilt at David Jones and offload Myers?

David Jones sale now a possibility, reveals boss​

The retailer has emerged with a slightly smaller profit but its future remains unclear as reports grow its South African parent is looking to sell the department store.

I doubt it.

Solly has lost skin with Myer and it is personal as well as business for him, from what the media say.

gg

 

[Dona Ferentes]

Shareholders will receive a bumper dividend for 2021-22 as well as a small buyback after PMV, the owner of the Smiggle and Peter Alexander brands, reported record sales of $1.5 billion for the year to 31 July as it overcame the considerable disruption from Covid lockdowns.

The sales figures for the year are more than double of what Premier posted before the pandemic.

Premier reported that net profit for the year edged up nearly 5% to $285.2 million.

“This is testament to the seamless leadership transition to [chief executive] Richard Murray, the unrelenting focus on execution by our management team, and the commitment of our people,” chair, Solomon Lew said in Thursday’s statement.

Premier shareholders will get a fully franked final dividend of 54 cents a share, plus a special dividend of 25 cents a share – taking the total payout for the year to $1.25 per share (up 56.3% on last year).

As well the company has decided to launch a $50 million on-market share buyback, which “recognises the significant market volatility at present and will allow Premier to opportunistically and flexibly acquire shares which will in turn deliver earnings per share accretion”,
.

 

[Dona Ferentes]

Keeps on keeping on

• reported a 6.5 per cent increase in first-half net profit after tax to $174.3 million.
• delivered record first-half global sales of $905.2 million, up 17.6 per cent from the year earlier period.
• declared a record interim dividend of 70¢ a share, made up of an 54¢ fully franked interim dividend and a fully franked special dividend of 16¢.
• total interim dividend was up 52.2 per cent

 

[finicky]

A retailer that reminds me of Accent Group (AX1)
Similar steady share float, growing book value and performs in hard times.
It'd be risky to value it on recent years where profitabilty has jumped, so seems a bit overvalued.
But I get the key guy is reputed to be a canny retailer so I think I'll put it low in my top 20 to consider in a crash scenario.

Book Value ($)

8.34

8.56

8.52

8.47

8.53

8.52

8.49

9.65

10.55

Return on Equity (%)

6.20

6.80

7.80

7.90

8.50

7.90

12.80

17.70

16.00

Not Held

 

[Dona Ferentes]

Keeps on keeping on

Premier was one of the better performers last week, on the back of a Trading Update. The Retail sector has had a wide range of returns, as the cycle creates dispersion of winners V losers.

.
but a driver was also departure of CEO Richard Murray (chairman Solly likes to be a bit too "hands on", it seems) and talk of demerger of Peter Alexander and kids’ stationery shop Smiggle, with Premier’s remaining retail brands, including Just Jeans, Portman and Jacqui-E , maybe staying in the fold.

 

[finicky]

Mosaic Brands (MOZ) goes into admin yesterday, Premier Investments top ASX 200 performer today.
Not Held

From Maket Matters:

• Premier Investments (PMV) +9.91% & Myer (MYR) -1.55% announced that Myer will merge with the Apparel Brands division of Premier Investments which includes Just Jeans, Jay Jays and Dotti

 

[Smurf1976]

Down 20.65% today but fear not, there's a reason.

Eligible shareholders will receive shares in Myer following the sale of Premier Investments' apparel brands to Myer. According to the company announcement on 23 January, this should be approximately 7.2 Myer shares for each Premier share held.

Myer has acquired from Premier retail businesses operating under the brands Jay Jays, Just Jeans, Dotti, Jacqui E and Portmans.