Management attitude of conserving cash and refreshing stores’ format is the right strategy for the turnaround of its business. Also, I get the sense Carpetright wants to emulate WH Smith by focusing on margins improvement while stemming the decline in sales.
However, the share price of Carpetright PLC seemed less enthusiastic, despite the return to profits (making £14m per annum) and reduction of debt (£7m in borrowings from £105m, six years ago).
The interesting thing is the current market valuation of £140m is 85% below peak valuation of £1bn. And, profits are growing from the refreshing their stores' format.
Recently, Carpetright plc shares gone up by 25% in two weeks with the monthly chart telling me a £4/target is next. http://bit.ly/2mFdRyQ
P.S. I researched this a few weeks ago and written an article on my blog.
However, the share price of Carpetright PLC seemed less enthusiastic, despite the return to profits (making £14m per annum) and reduction of debt (£7m in borrowings from £105m, six years ago).
The interesting thing is the current market valuation of £140m is 85% below peak valuation of £1bn. And, profits are growing from the refreshing their stores' format.
Recently, Carpetright plc shares gone up by 25% in two weeks with the monthly chart telling me a £4/target is next. http://bit.ly/2mFdRyQ
P.S. I researched this a few weeks ago and written an article on my blog.
Carpetright PLC to target £4/share soon
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