After a disappointing start to its float, things are starting to pick up. Since the release of results in December, the shares have steadily increased from 147p to 161p.

The group has a strong and fast growing market share and should perform well.

internet, price comparison, ebay etc...

where JSP should market themselves is as the "knowledgable" seller...ie those who don't really understand digital cameras but want to buy one. that is why i would think John Lewis would do well in this market.

may buy soon but waiting at the moment

stockbunny
I'm with you got in today under 100p with the new SLR digital cameras getting cheaper and the new printers that can print with out a computer there are a lot more cameras and printers going to be sold leading up to the summer, and may also be a bid target. These shares are cheap.

My be even cheaper tomorrow!

Just a thought.

daves dazzlers
Hope so I will top up.

And me.

A 100 point fall on the dow tonight and you my see 90p,just a thought.

daves dazzlers
Have they got shops in the US I don't see the connection, I think we might see a bit of blue tomorrow.

Only 5 points lets see were we go today.

I think it will go down towards 80p

This is becoming a bag of nails,a 97 stoploss for me.

Director purchase of 50,000 annouced today. I haven't made an assesment on the company or valuation but have nipped in a bought some this morning.

And another of 25,000

Scrip

just run a very quick valuation of the company and a few concerns that i found

1) at flotation current debt was reduced from over 100m to 35m - why still maintain this high level of debt post-flotation as the servicing cost is still high in relation to the profit the company makes

2) asset value - the majority of their fixed assets is made up of intangibles and once stripped out the current asset value does not support the current share price

3) growing pension deficit

also looking at the broker forecast of profit of 15m (reduced from prior forecast of 21m), what level of profit is this referring to is - ie which side of exceptional costs and interest charges as i find it hard to believe they will have a clean pat of 15m

anyone else looked at the accounts for a true valuation?

will post more later when ive more time to look at in detail

Thanks, Hadn't thought of bouncing ideas with you. I guess I am so used to talking about horses and the like!!

I only have a token holding at the moment. I find it focuses the mind while you are researching.

My main area of concern is that this looks like a classic float from a private equity fund that has geared up the company and sought a quick sale. Will be having a closer look.

Fundy - thanks as always you are a mine of good analysis - cheers
and your points are indeed valid and worth keeping a close eye on.
:>)

I wouldn't buy in further, it appears stable at around 99p, but that
is solely the opinion of a bunny so DYOR!
Today's market is a horror and if it stands up today - possibility
of more of the same this afternoon as inflation in US not good according
to figs. - but if it can stand up at the 99p level or thereabouts
when so many are falling, and many by a lot more, it's doing OK.
:>)

bunny

i agree there may well be some upside from here - i just like to make sure that the valuation is fair and the balance sheet underpins the share price - am planning to look at this in more detail later

and you are right Fundy no doubt about that, at the end of the day
the figures have to add up, so you're right to put forward your thoughts
on the figures for them. Thanks again :>)

sd
Good point it is holding up well with these market conditions, definitely blue tomorrow if not today.

That would be nice, but don't be upset if the market is downbeat
until into next week - tomorrow is bound to be 'thin' on volumes
due to the holiday and people packing up early to get away. Next week
also may be thin on the trading front, bit like the summer holiday time.
:>)

sd
You know me I never get upset, did you see bos's comment about p/e hilarious.