9:07 18/05/2012	Trading Update
A better update than we have seen for some time with for the first time signs of progress on the trading front. By TX2
20:27 12/02/2012	Investors Chronicle ......
The Investors Chronicle Tips of the Week: 12 Feb 2012 Thomson also offers his 2012 'Bargain Shares' portfolio: Trading Emissions, Rugby Estates, Telford Homes, MJ Gleeson, Mallett, Stanley Gibbons, Eurovestech, Bloomsbury Publishing, Indigovision and Molins. http://bit.ly/sPjaXE By SpikeyDT
12:13 10/02/2012	IC Bargain Share 2012
Mallett picked by Investors Chronicle as a part of "Bargain Share" Portfolio for 2012.There has been some recent uplift following buying by Peter Gyllenhammer interests but we need all the help we can get! By TX2
11:24 30/01/2012	Peter Gyllenhammar ups stake in art dealership Mallett
Peter Gyllenhammar ups stake in art dealership Mallett Activist investor Peter Gyllenhammar has increased his stake in fine art and antiques dealership Mallett (MLLT.L), which filed an operating loss of £1.3 million in 2010. by David Campbell on Jan 30, 2012 at 12:03 http://bit.ly/AByQEK By SpikeyDT
18:27 12/08/2011	Mallett free from onerous lease
Mallett free from onerous lease Created: 12 August 2011 Written by: Nigel Bolitho http://bit.ly/mPlKda The key news from Mallett is that the company hopes to assign the remaining 19-year lease on its five-storey central London New Bond Street HQ and showrooms to upmarket retailer Fendi. If the deal goes through as planned in January it will save Mallett £1.2m a year in rent, while the lease on similar premises a few corners away could be half that figure. Cost-saving is certainly the name of the game for Mallett as demand for 17th and 18th century English furniture continues to decline in the UK and US markets. Fortunately, it bought a lot of furniture cheaply during the credit crunch so earned higher margins on sales. As a result, both UK and US furniture losses fell. There was also an overall positive profit contribution from other interests thanks to an amazing contribution from Met,a which makes a range of 10 contemporary products from traditional materials. The products include a lantern, two wardrobes and a coffee table and margins are to die for: In the latest half year, sales of £362,000 realised pre-tax profits of £199,000. Following the better first-half performance, full-year losses could be below £1m and might be a lot less if Mallett's latest venture - selling furniture to wealthy Chinese householders via a trade fair in Hong Kong in October - proves fruitful. MALLETT (MAE) ORD PRICE: 70p MARKET VALUE: £9.66m TOUCH: 67-73p 12-MONTH HIGH: 77.5p LOW: 62p DIVIDEND YIELD: nil PE RATIO: NA NET ASSET VALUE: 105p NET DEBT: 2% Half-year to 30 June Turnover (£m) Pre-tax profit (£000) Earnings per share (p) Dividend per share (p) 2010 7.09 -793 -5.25 nil 2011 6.43 -280 -2.12 nil % change -9 - - - Guide to the terms used in IC results tables. More analysis of company results IC VIEW GoodValue Mallett's shares have not moved much this year which is a bonus in today's turbulent stock markets. Trading on a big discount to net asset value - and considering that the company has a virtually ungeared balance sheet - they remain good value. By SpikeyDT
10:43 29/06/2011	Lease Sale
The price is lower than I expected;however this lease was costing Mallett £1.2m or so a year + other costs and the premises were far to big.This cost reduction should restore the company to profit as much of its business is now done on line and via Antique exhibitions.Much smaller and cheaper premises should suffice for todays market. The expensive Wall Street,NY premises perhaps should go as well. By TX2
13:36 04/04/2011	Investors Chronicle
Slow recovery at Mallett Created: 4 April 2011 Written by: Nigel Bolitho Mallett was hit hard by the recession and while the global art market recovered dramatically in 2010 - notably for impressionist and modern art - demand for 16th and 17th English furniture (Mallett's speciality) has stayed in the doldrums. Sales in both the UK and US dropped sharply and there was also a fall in revenues from selling British sporting pictures and manufacturing contemporary design furniture from antique wood. Only restoration income increased. However, losses narrowed due to a reduction in staff numbers and a £350,000 cut in admin expenses from £1.68m to £1.32m. An interesting aspect of the latest figures is that a £2.14m deferred tax asset relating to some £6m of tax losses is not being carried forward. As a result there’s a £1.14m tax charge which almost doubles post tax losses - while its removal from the balance sheet largely accounts for the fall in end-December net assets. The next cost hurdle is to find a buyer for Mallett's 20-year lease on its imposing 12,000 sq ft, five floor Bond Street showroom. It's not needed because these days far fewer buyers than ever go to showrooms - but the rent is £1.2m a year. Expect 2011 trading figures to be close to last year’s results. MALLETT (MAE) ORD PRICE: 72.5p MARKET VALUE: £10.0m TOUCH: 70-75p 12-MONTH HIGH: 77.5p LOW: 61p DIVIDEND YIELD: nil PE RATIO: na NET ASSET VALUE: 109p NET DEBT: 4% Year to 31 Dec Turnover (£m) Pre-tax profit (£m) Earnings per share (p) Dividend per share (p) 2006 16.6 12.67 72.8 9.2 2007 17.5 1.32 6.4 8.4 2008 12.1 -5.97 -31.5 nil 2009 14.0 -1.77 -11.9 nil 2010 13.3 -1.42 -19.1 nil % change -5 - - - General Retailers Guide to the terms used in IC results tables. More analysis of company results More share tips and updates... SHARE TIP UPDATE: GoodValue Mallett must be considered a contrarian investment. There's little good news right now, but costs seem under control and trading a third below net asset value, the shares offer value. Good value. Last IC view: Buy, 67.5p, 26 March 2010 By SpikeyDT
11:30 13/10/2010	Peter Gyllenhammar arrives!
That will be a nasty suprise to the chinless wonders here,whether it benefits other shareholders remains to be seen.Obviously spending the money he got from sale of Hartest. By TX2
15:11 18/01/2010	Given up on this one
I needed some funds so sold my 7k holding of shares today. I still see this as a sound investment with considerable upside, but is doesn't offer much in the way of excitement at the moment. (So expect a takover bid at £1 per share tomorrow!) Best wishes to all holders. HP By Hanky Panky
13:53 17/09/2009	Re: it's still happening
There are a few small trades a week on Plus Markets as well which are not usually shown on iii.The shares are modestly valued still on the basis we should see some improvement in the top end antique market eventually. By TX2
15:52 16/09/2009	it's still happening
now 80p sell and you could probably get better than that. Hardly any trades and no news. Nice but puzzling! By Hanky Panky
7:42 02/09/2009	Something is happening!
Ah, but what? Is this simply that people see light at the end of the tunnel for the economy in general or do we have some Mallet-specific news? Whatever, I shall hang in here as I see the possibility of the price doubling over the next year...well more or less it only has to continue its recent progress. With huge inflation anticipated. antiques must be as good a bet as gold. By Hanky Panky
15:29 21/08/2009	Re: Is something happening?
Ive been trying to buy some for a few days at 63p (when that was a declared bid price) through market, fill/kill and now a 25 day limit deal and have been unsuccesful so far. So I have to assume either my broker is incompetent or that there are none for sale. I have no other info just that I would expect them to recover longer term after this huge fall and as furniture buyers return. I dont feel like chasing the price up which it seems I could do without actually spending any money! By barrelscraper
13:44 21/08/2009	Re: Is something happening?
seems like I ask this question every 3 months, but nice to see some upwards movement. By Hanky Panky
10:08 28/05/2009	Re: Mega spread.
Spread of 1p at the moment. I have never seen that before with this share. By Hanky Panky