Patisserie Holdings

Patisserie Holdings

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23 Aug 2017
Patisserie Hldgs PLC - Holding(s) in Companyfrom Interactive Investor
30 Jun 2017
Patisserie Hldgs PLC - Blocklisting applicationfrom Interactive Investor

Patisserie Holdings Charted

Patisserie Holdings Discussion on Interactive Investor

Re: Paul Scott view by Dogberto

  Tue, 06 Jun 2017 17:24:00 GMT
8% down because a bloke on a blog has had a couple of disappointing store visits? Absolute joke of a market reaction.
By Dogberto

Paul Scott view by glasgowboy

  Tue, 06 Jun 2017 13:14:00 GMT
Yes its possible as there seems to be no market news on the company , although I did not think he has that much influence on the share price it would appear I was wrong. FWIW I am holding although I do respect Paul's opinion
By glasgowboy

Re: Paul Scott view by Broncomaniac

  Tue, 06 Jun 2017 12:59:00 GMT
Is today's plunge just due to these comments from Paul Scott?
By Broncomaniac

Paul Scott view by glasgowboy

  Tue, 06 Jun 2017 12:49:00 GMT
For that reason, I've ditched most of my shares in other hospitality, or retail shares. In the case of Patisserie Holdings (LON:CAKE) I've had a couple of disappointing store visits, and feel the valuation is probably now high enough. It's managed to mitigate cost increases so far, but will that continue? Customer service standards slip if staffing is reduced. The figures look great for this company, but can it maintain such a high operating profit margin? I'm not sure it should try to - because if the operating margin is too high, then customers might become disillusioned with the poor value for money, and decline to visit in future.
By glasgowboy

Paul Scott's view by IOMINVESTCOM

  Thu, 18 May 2017 12:09:00 GMT
My opinion - you may have guessed by now that I like these figures! This company really is a class act. Luke Johnson owns 38.6% of the company, so I'm very happy to be riding on the coat tails of this very experienced & highly regarded entrepreneur.

Hospitality is cooling as a sector at the moment. This is due to problems with rising costs, and over-capacity. Several companies in the sector have reported a decline in profits, and slowing or halting expansion plans.

As always, the best companies sail through troubled waters, taking the problems in their stride. That's exactly what's happening here. Cost pressures have been mitigated, it's just a really well-run business, with an excellent format.

I like the comments about expansion overseas now being considered.

Eventually, I reckon this company is likely to be sold, for a decent premium. This is alluded to by several brokers today.



EDIT: Many thanks to one of our star members, Bestace, who has flagged up a results presentation on CAKE's website. Well worth a read - it's here.

LINK
By IOMINVESTCOM

Beaufort Sec view by IOMINVESTCOM

  Thu, 18 May 2017 06:55:00 GMT
Our view: Patisserie continue to deliver strong results. Although the gross margin has dipped slightly from 78.3% a year ago to 78.0% due to high inflationary pressures on food costs, EBITDA margin has improved from 21.1% to 22.0%. This resulted pre-tax profit and EBITDA grew faster than the revenue growth, therefore led to earnings per share enhancement and ability for +20% hike in interim dividend, in line with its progressive dividend policy. The Group opened second store in Northern Ireland and first international store in the Republic of Ireland, which is highly encouraging as the success of these can lead towards accelerated store expansion plan internationally. The Group has noted that its Republic of Ireland store is performing well. Looking ahead, the Group said post period trading has been good and is remain on track to open 10 additional new stores this year, while retaining rich pipeline of further new sites. In terms of costs, the management noted that prices of majority of core ingredients post the period has now stabilised at normalised levels. Other costs such as rent and the Business Rates have relatively benign effect, while National Minimum and National Living Wage increases implemented in April 2017 and the next stage of the National Living Wage increase will add c.£0.5m on cost. The Group is continuing to mitigate these impact through more effective labour rostering method and other areas of scale benefits. Together with further supply chain improvements and operational gearing from the growing group, the management expect broadly flat gross margin in FY2017. Although concerns over wage pressure and ingredient price inflation persists, given its track-record of growth, management confidence as well as strong balance sheet, growth momentum is ongoing. The shares are valued at FY2017E and FY2018E P/E multiples of 21.5x and 18.6x, along with dividend yields of 1.0% and 1.2%. Beaufort reiterates its Buy rating on the Shares.
By IOMINVESTCOM

Sainsburys by 1timco

  Wed, 26 Apr 2017 03:39:00 GMT
CAKE doing a 12 week trial in selected Sainsburys stores thanks to a recommendation I made to Mike Coupe.
By 1timco

Re: Feedback on Outlets by Broncomaniac

  Tue, 07 Mar 2017 10:58:00 GMT
Another negative experience to report unfortunately (sad )

I went to the Tunbridge Wells cafe on Saturday at about 3pm. About half of the items on the menu had already sold out. No scones, no eclairs, no mille feuille, really poor stock management and disappointing as a customer.
The menus were also tatty & dog-eared.
Also as a customer I wasn't impressed that they don't take American Express, it rather undermines the premium image.
By Broncomaniac

Re: Feedback on Outlets by give the dog a bone

  Mon, 20 Feb 2017 21:53:00 GMT
I've been a big fan of CAKE but now Im not so sure.

Druckers and some of the other brands are pretty limited and no longer see that they have a unique proposition to attract customers

all those plates stacking up initially drew me in as clear evidence but after a while not being able to get a clean table makes me reconsider.

So... I'm clearing out of CAKE soon
By give the dog a bone

Feedback on Outlets by Franky33

  Mon, 20 Feb 2017 11:44:00 GMT
Kings Cross mezzanine. It looked small and tired. I don't think the proposition works in this open eating area format.
By Franky33

Re: CAKE, Why The Rise????????????????? by IOMINVESTCOM

  Thu, 02 Feb 2017 21:56:00 GMT
Hi Joe,

Yes, superb day for CAKE.

I see a little resistance around 3.50- 3.55 before that.

LINK

SCSW due out at the weekend but already in their growth portfolio

atb
By IOMINVESTCOM

Re: CAKE, Why The Rise????????????????? by oldjoe1

  Thu, 02 Feb 2017 15:41:00 GMT
CAKE on the verge of a breakout into the gap circled on the chart at 340p, Sp target 370p.

LINK
By oldjoe1

CAKE, Why The Rise????????????????? by oldjoe1

  Thu, 02 Feb 2017 15:18:00 GMT
CAKE...Gone ballistic, somebody knows something, a bid coming in??????????

LINK
By oldjoe1

NEW ARTICLE: Are these 11 shares a long-term buy? by II Editor

  Fri, 27 Jan 2017 14:07:00 GMT
"The ones that got awayOne of the frustrating things about relying on annual reports* is that, rather like rainfall, new information about companies is not distributed evenly throughout the year. This seasonality occurs because more companies ..."

LINK
By II Editor

Feedback on Outlets by Franky33

  Fri, 20 Jan 2017 13:37:00 GMT
There is an outlet near me in Manchester. Prime position on the corner of 2 busy streets. Always busy throughout the day. Great proposition - there will never be a shortage of customers for coffee and cake. Current p/e looks modest when you look at the mileage in front of the company for roll-outs.
By Franky33