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The Admirable Creighton Posts Some Admirable Numbers and Still the Shares Seem Cheap

By Malcolm Stacey | Thursday 22 July 2021

Disclosure: I own shares in one or more of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Hello, Share Passers. One of my all-time favourite companies, Creightons (CRL) which makes cosmetic fripperies and, in these times, more importantly antiseptic hand-washes, has just posted some happy full-year numbers. The share price nipped up by 10% but I don’t think that’s the last of it.

The numbers show revenue jumped by 28.9% to £61.6 million. Ok, sales are vanity and profit is king. Well, operating profit increased by 43.7% to £5.4 million. Profit after tax for the year has soared by £1.1 million to £4.3 million, with diluted earnings per share up to 5.89p, from 4.34p.

Net cash on hand is £6.2 million (2020: £2.8 million), though disappointingly the final dividend of 0.50p per share is the same as last year. This is though an honest, up front, company and a few negatives were included near the top of the RNS. Sales of retailer own label products decreased by 6%, contract sales dipped by 7.6% and overseas sales reduced by 3.9% to £6.9 million.

However, the cash strengthened despite a lot of investment in product development and new plant and equipment to support this company’s impressive overall growth despite some stores being unable to sell Creightons stuff during lockdowns. The company also had to fork out £1.6 million for hygienic gear to keep its factories safe from the virus, though it benefitted in some respects from the pandemic as sales of its hand-washes increased.

This old punter has also noticed that Creightons products are being given more prominence in supermarkets and the report talks about a wider retail distribution. The P/E by the way is around a modest 15.

And now let’s see what’s happening at the Punter’s Return.

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