I think this stock is a bargain and should easily double from here.but don't just take my word for it Conrad Windam from lemming investor wrote this:


21st July 2004

The Eagle has left the nest, and plenty of feathers have been ruffled as a result. I am of course talking about the adverse departure last week of Simon Eagle, former Chairman and Director of SP Holdings. Eagle departed his position with the company through mutual consent, due to his misdemeanours elsewhere in the city. The knee-jerk reaction that the city always affords such situations has unduly affected SP Holdings, thus creating an opportunity that investors might wish to look closer at.

SP Holdings is a below the line marketing services group providing a range of services to the sports, entertainment, leisure and retail sectors across Europe, Asia, and South America. The companys client list boasts such names as the BBC, Tesco, JVC, Leeds Utd FC, Nationwide, and BAR F1, not bad for a company the size of SP Holdings.

On 5th July the company announced a major licensing agreement with Manchester United Merchandising Ltd, the clothing and fashion subsidiary of the worlds most valuable football club brand, Manchester United FC. The master licence will initially run for four years and is expected to generate a profit of 3 million over the period to the company. The profit of 750k per annum from this deal alone more than supports the current market capitalisation of 6.34 million.

Interim Results for the period ended 30th April are due for release on Friday, 23rd July. Having spoken with a director at SP Holdings I can confirm that the company remains perfectly happy at reaching the forecasts from house broker Seymour Pierce.

The forecasts from Seymour Pierce in their note dated 5th March anticipate EPS of 0.97p for the current year, rising to 2.89p in 2005. The figures suggest that the company trades on a current PE of 18.5 falling to 6.22 in 2005. I believe therefore that the price is far too low, especially considering that these forecasts were compiled before the major licensing deal with Manchester Utd Merchandising Ltd. I understand that Seymour Pierce will be updating these figures next week.

Simon Eagles holding in the company has been placed with institutions at a disappointingly low price of 12p. Whilst investors have been dissatisfied with the price that institutions have been able to pick up stock at, it does strengthen the shareholder base with further commitment to the company from institutions. Furthermore the serial investor David C. Newton has taken the opportunity to increase his stake in the company to 6.25%.

I should declare that I brought stock in the company this week at 17.5p. I believe that there are no concerns with how the company is trading, and that the recent complications surrounding the departure of Simon Eagle have created an interesting opportunity for shareholders. The directors themselves purchased shares at 19.5p in March.

The companys website is www.spholdings.co.uk

Possible interest rise in next few months may spook this and cause further falls in high street stocks. Great! ;0(

Bounce back to 410p fingers crossed holds to the close.

If you play Football then this is the place to go and get Adidas Toblerones.

Looking for entry around 380p

Bounced @ 380p Claret, game on? 14th December half year results.

Half year results - 14/12/17

Despite claims by chief executive Mike Ashley that Sports Direct's elevation strategy is delivering a "spectacular trading performance", shares in the retailer slumped on Thursday as investors reacted to a 67% drop in pre-tax profit.

In the 26 weeks to 29 October, reported pre-tax profit fell to £45.8m from £140.2m in the same period a year ago, while revenue edged up 4.7% to £1.7bn. Excluding acquisitions, disposals and on a currency neutral basis, revenue increased by 1.2%.
However, UK sports retail revenue was down 1% to £1.1bn due to reduced online promotional activity and store closures as part of the continued elevation of the portfolio.
On an underlying basis, pre-tax profit was up 23% to £88m, while underlying earnings before interest, taxes, depreciation and amortisation were up 7.4% to £156.1m. Meanwhile, group gross margin in the period was down by 180 basis points, with margin in UK sports retail down 80 basis points.
Chief executive Mike Ashley said: "Our high street elevation strategy is currently delivering spectacular trading performance within our flagship stores. We intend to open between 10 and 20 new flagship stores next year.
"Whilst our reported profit before tax has been impacted by fair value adjustments and transitional factors such as the disposal of assets in FY17; our underlying profit before tax remains healthy. We will continue to invest for the long-term and our net debt has increased in line with management expectations."
The group said it continues to anticipate that growth in underlying EBITDA during FY18 will be within its forecast range of 5% to 15%.
Nicholas Hyett, equity analyst at Hargreaves Lansdown, said: “Sports Direct’s corporate governance practices continue to attract headlines for all the wrong reasons, with independent shareholders rejecting an £11m payment to Mike Ashley’s brother on Wednesday.
"Unfortunately the lack of transparency also stretches to the 'Selfridges of Sport' initiative. Mike Ashley has described trading at the new format stores as 'spectacular', but it’s difficult to see evidence of that in the numbers. Improved profits are being driven by cost cuts rather than sales growth - which is actually negative in the UK.
"The tail of strategic stakes and small regional operations continues to grow. At a time when the company is undertaking a major revamp of its core UK operations it’s difficult to imagine that this isn’t a distraction for management.”

Acquisition of House of Fraser
Sports Direct International plc ("the Company" or "the Group") announces the acquisition of the business and assets of House of Fraser from the administrators of House of Fraser Limited, House of Fraser (Stores) Limited and James Beattie Limited, the House of Fraser group's main operating companies (the "Operating Companies"), for a cash consideration of £90 million (the "Transaction").

Pursuant to the Transaction, the Group has acquired all of the UK stores of House of Fraser, the House of Fraser brand and all of the stock in the business.

Interims https://www.moneyam.com/action/news/showArticle?id=6243420