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SRS - Spicers Limited

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Re: PPX - Paperlinx Limited

prawn_86 said:
Up over 100% so far :eek:

News that it is selling some assetts or something. Never followed the stock before but thought it at least deserved a mention...
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Well the market had a genuine fear that this company would fall over.

Seems that it will survive but it'll take a long time to be confident in this conpany again.
 
Re: PPX - Paperlinx Limited

UMike said:
Well the market had a genuine fear that this company would fall over.

Seems that it will survive but it'll take a long time to be confident in this conpany again.
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I think that PPX will be generating pretty strong sales while the Aussie dollar is low, Alot of it's traditionally cheaper competitor's who import paper have made 5 price increases which now makes PPX aussie made products better priced.
 
PPX - Paperlinx Limited

Hi Guys,

I am still new to investing. I am really looking into PPX.

I see sooo much value just from a fundamental perspective. 2008 Annual Figures suggest a NTA per share of $2.72. Looking at Aegis and MSSB (morgan stanely smith barney views), 2009F $2.65 for MSSB and $1.09 for Aegis.

I'm looking at an entry at about $0.41?

I was hoping for any technical analysis of this stock?

Thanks

Boh
 
Re: PPX - Paperlinx Limited

I suggest researching the market and the various entities PPX own - including some making losses. For example paper making. While PPX sold (or selling) Australian Paper to a Japenese company they have retained the less profitable (a recent review said it is making an unacceptable loss) Tas Paper. Many people use imported papers. Last financial year they only paid 1 dividend instead of their normal 2. Have you looked at their financial reports?
 
Re: PPX - Paperlinx Limited

Bumping this thread. Perhaps one to watch....
Nice base. Has held well during the broader market weakness of late ( could argue that it hasn't done much prior ;) )and will be interesting to see how the high volume of Friday resolves itself. Certainly 60c looks like a buying area with volume support. For the watchlist...
 

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Re: PPX - Paperlinx Limited

No comments on PPX for a fair while. Does anyone have any opinion on if there is value left in this market dog? Is it a "cigar butt" with one last puff left or a falling knife going all the way to the bottom?

Market cap: ~$95m
2010 Revenue: $5bn
2010 NPAT: $37.2m loss
Shares: 603.6m
Net assets: $923.9m
Expected FY11 loss of $23m
 
Re: PPX - Paperlinx Limited

PPX has been on my watch list for a couple of years now. However, they have been in trouble for a most of that time with a faling share price that shows little sign of bouncing. ppx was a producer/distributor with established brands like "reflex" selling into Europe, Australia and the U.S. From memory they sold off their plants as being too expensive to modernise and upgrade to stay competitive. As a result they are now a distributor.

Their NTA is higher than their share price but I don't know what their assets are after they sold of the manufactoring plants. They have significant borrowing levels that need to be refinance from time to time, also the rising dollar doesn't help them compete as a wholesaler/distributor in the global market. They have stated that they have a policy of not getting into price wars for fear of over diluting their revenue stream. However they recently downgraded their forcasts and i don't think they have issued a dividend for some time.

They could become a take over target for someone wanting their established brand lines but paper is relatively cheap now and their is a lot of competiton. Looking at it objectively, ppx looks like it is in wind down mode. The only beneficeries to the income stream being the management on salaries and the financiers.

If I was a share holder I wouldn't like to see any payment of management bonus/incentives while they are unprofitable and the share price so badly depressed.
 
Re: PPX - Paperlinx Limited

Thanks for the reply Nulla Nulla.

I tend to agree but can't help feeling there is some value here. There was an informative article recently by Ian McIlwraith (http://www.theage.com.au/business/nothing-going-right-for-paperlinx-20110601-1fgo2.html) noting that PPX is exposed to the European countries that are currently facing significant economic headwinds (ie everywhere other than Germany and France).

And looking closer at their NTA, a significant proportion is currently tied up in inventories and receivables which is always liable to significant writedowns...

I did a Warren Buffet "break-up" analysis and came up with an adjusted per share book value of ~$420m or 70c per share, but this is very sensitive to changes in valuation of inventories. If they are valued at $0 then that pretty much leaves nothing :eek:.

Ah well the search for value continues..
 
Re: PPX - Paperlinx Limited

Bugger, I was waiting to see if it hit $0.10 then I was going to throw some super funds at it for a small parcel and hold for any prospects of a recovery against NTA. Talk about timing. I picked PPX for the stock tipping competition but it took off two days before month end. Instead of $0.105 - $0.11 the 30 June price jumped to $0.16, without me.

Then it went into a trading halt pending a "restructure announcement". Odd how the share price jumps immediately before the announcement. Insider trading any-one? Wonder if ASIC will even bother to look into it?

ppx 2011-07-01.png

Had to cancel and repost as I forgot the chart. :)
 
Re: PPX - Paperlinx Limited

nulla nulla said:
Bugger, I was waiting to see if it hit $0.10 then I was going to throw some super funds at it for a small parcel and hold for any prospects of a recovery against NTA. Talk about timing. I picked PPX for the stock tipping competition but it took off two days before month end. Instead of $0.105 - $0.11 the 30 June price jumped to $0.16, without me.

Then it went into a trading halt pending a "restructure announcement". Odd how the share price jumps immediately before the announcement. Insider trading any-one? Wonder if ASIC will even bother to look into it?

View attachment 43466

Had to cancel and repost as I forgot the chart. :)
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Somebody knew something at 17 and 15c., looking at the chart.

ASIC are a hopeless bunch of muppets.

gg
 
Re: PPX - Paperlinx Limited

Castle of Sell said:
Anyone have any thoughts of a speculative grab at paperlinx @ 2c?
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I had this stock in the early noughts (it paid a pretty good dividend in those days to) but it appeared to just be going sideways when I decided to sell it in the middle of '04. Today it closed at 0.018c. Up until last Tuesday the bollinger bands had tightened over the past couple of months suggesting their would be an imminent move up or more likely down which actually happened. This action also happened on the day after the announcement to the market that the employment contract of the CEO & MD, Mr Andrew Price that was due to expire in April 2015 has been terminated with immediate effect.

If you want to read the market release in full, then click on the link provided.

What thoughts do you have of the stock presently Castle of Sell?

http://www.stocknessmonster.com/news-item?S=PPX&E=ASX&N=419188
 
Re: PPX - Paperlinx Limited

piggybank said:
I had this stock in the early noughts (it paid a pretty good dividend in those days to) but it appeared to just be going sideways when I decided to sell it in the middle of '04. Today it closed at 0.018c. Up until last Tuesday the bollinger bands had tightened over the past couple of months suggesting their would be an imminent move up or more likely down which actually happened. This action also happened on the day after the announcement to the market that the employment contract of the CEO & MD, Mr Andrew Price that was due to expire in April 2015 has been terminated with immediate effect.

If you want to read the market release in full, then click on the link provided.

What thoughts do you have of the stock presently Castle of Sell?

http://www.stocknessmonster.com/news-item?S=PPX&E=ASX&N=419188
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Cheers, Piggybank.

I don't think there's any value in PPX, but could be in PXUPA if they can get sell their European assets for something. By the looks of their CEO appointment they will be looking to sell as much of their overseas operations as possible.

The hybrid PXUPA could be of value given it ranks ahead of the equity (PPX) in the capital structure. It's a $275m issue that trades at 7.50c in the dollar (down from 11c the other day)

If the new CEO can manage to grow operation beyond the traditional print, then their maybe some value in the future. It closed at 17c today.. so tempting.
 
Re: PPX - Paperlinx Limited

It appears the market is reacting positively to the UK and parts of the European arm going into administration.

It seems there is no recourse on the profitable Australian business.

I wonder where this stock lands in the coming months?
 
On November 17th, 2015, PaperlinX Limited (PPX) changed its name and ASX code to Spicers Limited (SRS).
 
UMike said:
Let hope the performance changes.
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Spicers Limited has been seeing some above average volume over the couple of days and today there's been a nice move north after 12 months of mostly trading sideways. It's up around 9% so far today.

Something up with SRS? No announcements from the company this month.

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This is what's pumping it up I'd guess.

One of the country's best known brands and some stars of the global tech world were named as top stock picks on Tuesday, as some of the country's top investors came together at the Future Generation Investment Forum in Sydney.

...

Campbell Morgan, fund manager at Sandon Capital, picked out Spicers as his top stock.

"The phoenix that has risen from the ashes of PaperlinX" was how he described the company.

"It's a completely different beast," he said. The firm had net cash of more than $30 million, which was close to half its market capitalisation.

"On top of that it's got a lot of hidden assets that we think the market is completely missing," he said, pointing to a comment from one of the previous company's directors who said the land it had in Tasmania and Singapore was worth much more than carried on the balance sheet.
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