MARKET REPORT: Recovery in the pipeline at online bathroom retailer Victorian Plumbing after 85% wiped off share price in the last year

By Jordan Brodie-farooqui At Proactive Investors For The Daily Mail

Published: 22:12 BST, 17 May 2022 | updated: 22:12 BST, 17 May 2022

Are we starting to see the green shoots of recovery at Victorian Plumbing, the online bathroom retailer that has seen almost 85 per cent wiped from the share price in the last year?

The market appears to think so with the stock up 4.4p, or 8.7 per cent, at 54.8p after an interim results statement revealed a 67 per cent fall in underlying profits to £6.7million.

The Victorian has been battered by a perfect storm of factors out of its control—namely supply chain issues and inflation.

Calming: Victorian Plumbing stock is up 8.7% and the company said things will improve as the financial year unfolds

But yesterday the company said things will improve as the financial year unfolds. Chief executive and founder Mark Radcliffe has staked not just his reputation, but cold hard cash on the recovery.

In December he bought 3million shares in the company for 96.65p each, which are worth roughly half that now. He followed this in early April with the purchase of 700,000 shares at 50.6p, leaving him with a stake of almost 47 per cent.

The FTSE 100 extended its positive run to a third trading day as it advanced 53.55 points, or 0.7 per cent, to 7518.35.

Imperial Brands led the way after a well-received set of interims that burnished the cigarette maker’s credentials as a defensive investment. The shares rose 135p, or 7.9 per cent, to 1847.5p.

Fresnillo (up 21.6p, or 2.9 per cent, at 778.4p) benefitted from a positive recommendation, with Canadian bank RBC slapping an ‘outperform’ rating on the precious metals miner.

Prudential (up 50.9p, or 5.2 per cent, at 1016.5p) was firmer after Bank of America issued a ‘buy’ note, albeit edging its price target down from 1660p to 1600p.

The warning of ‘apocalyptic’ food prices from Bank of England governor Andrew Bailey on Monday hit the retailers and suppliers in equal measure.

Tesco (down 8.4p, or 2.9 per cent, at 278.3p) led the Footsie losers, though Reckitt Benckiser (off 2.1 per cent), Unilever (down 1.8pc) and Sainsbury (1.8 per cent lower) weren’t far behind.

Stock Watch – 4D Pharma

4D Pharma creates drugs from good bacteria designed to interact with the human microbiome found in the gut.

Called biotherapeutics, they are being developed to treat diseases ranging from cancer to conditions affecting the central nervous system.

Staff are in San Francisco at a conference showcasing promising data from an early-phase trial of a potential new treatment for asthma.

The shares were up 1.75p, or 5.3 per cent, at 35p, valuing the Leeds-based group at just under £65million.

‘Food prices, which Bailey apologised for being apocalyptic about, remain in focus as the impact of India’s wheat export ban is felt and the conflict in the “breadbasket of Europe” continues to rage,’ said Russ Mold of AJ Bell.

The FTSE 250 outperformed the blue-chip index with a rise of 141.48 points, or 0.7 per cent, to 20065.59 with bid interest sparking demand for some second liners.

The catalyst was a £1.75bn private equity bid for power generator ContourGlobal (up 63.6p, or 32.9 per cent, at 257p).

It is estimated there is around £1trillion of unallocated private equity cash waiting to be deployed, and the largely unloved 250 stocks are seen as ripe for the picking.

It wasn’t a day of unalloyed joy among the mid-caps. TI Fluid Systems, which makes fuel tanks for vehicles, saw a 4.1 per cent drop in revenues greeted by a 28p, or 14.9 per cent, drop in the share price to 160p.

It has been hit by the gamut of supply chain issues including the war in Ukraine and the Covid shutdowns of some Chinese cities.

On AIM, Kinovo saw its shares slump 4p, or 23.2 per cent, to 13.25p after a former subsidiary went into administration.

Giving back some of the ground it gained on Monday, Covid drug developer Synairgen fell 3.98p, or 11.4 per cent, to 31.02p.

The market’s biggest riser was found among the tiddlers. BSF Enterprise surged 3.5p, or 63.6 per cent, to 9p after the cash shell formally completed the reverse takeover of biotechnology assets spun out of Newcastle University.

Its most interesting piece of technology is an animal-free cell growth agent for culturing skin, muscle and fat cells which will be used for lab-grown meat and leather production.

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The post Systemic Racism Embedded In Foster Care To Jail Pipeline – CBS San Francisco appeared first on Los Gatos News And Events.

SF DA Chesa Boudin

By Juliet Bost

SAN FRANCISCO – Newly Proposed Re-Entry Housing Program Act – designed to disrupt prison for the homeless – proposed in Re-Entry Housing Program Bill 328 was approved by the San Francisco District Attorney’s Office, SF Public Defenders, and the Prosecutors Alliance of California.

The Reentry Housing program, presented in AB 328 by Housing and Community Development Committee Chairman David Chiu (D-San Francisco) and shared by Congregation members Ash Kalra (D-San Jose) and Buffy Wicks (D -Oakland), aims to disrupt the pipeline from incarceration to homelessness and reduce relapse rates, which are seven times higher among the homeless.

The program would use the savings from the closure of state prisons to provide five years of renewable grants to district and city-level housing support programs for former detainees.

The Support Housing Framework, which prioritizes affordable housing for those on probation in extreme poverty, is an evidence-based solution to probation workers’ insecurity.

The program’s authors also acknowledge that they acknowledge that efforts to reduce relapse rates must also address racial inequalities within the homelessness crisis and cancer system
African Americans are over-represented among the homeless and incarcerated.

San Francisco District Attorney Chesa Boudin is a progressive voice calling for the need to put the needs of communities, victims and offenders at the center of criminal justice reform, especially those who are disproportionately harmed by the criminal justice system .

In an interview with KQED in early January, Boudin recognized that the SFDA’s office “has played a leadership role in revising how we can promote public safety and assist victims of crime while reducing our reliance on racist measures Local governments have destroyed families and communities and bankrupted them. “

In creating the Reentry Housing program, members of the State Assembly, along with prosecutors, defense lawyers and activists, are calling for prioritized financial investments in communities as a key aspect of criminal justice reform.

AB 328 is widely supported by affordable housing advocates, including the Residents United Network (RUN), a statewide coalition of affordable housing activist organizations.

RUN members in particular have expressed overwhelming support for AB 328 during the three-day event of the Virtual Lobby Days.

“[AB 328] helps formerly incarcerated people move from mistakes and the prison industrial complex to stable living and a better future, ”commented Anakh Sul Rama, member of RUN and organizer of the Community Housing Partnership in San Francisco.

Housing California, a Sacramento-based affordable housing organization and sponsor of AB-328, commended HCD committee members for passing the proposal in a tweet Monday night.

“[AB 328] This would go a long way in ending this cycle of homelessness and incarceration in California. “

Boudin confirms that sentiment in his aim to break this cyclical pipeline from homelessness to incarceration and back.

“I was elected on a very transparent and clear platform to equally enforce the law and fight for racial justice and justice in our criminal justice system,” said Boudin in the same KQED interview.

“To focus resources on root causes of crime so we can break the revolving door that embodies the failed American approach to coast-to-coast criminal justice.”

Juliet Bost is in a third year at UC Davis with a major in Political Science – Civil Service with a minor in Religious Studies. They are originally from San Mateo, California. You are a member of the Chesa Boudin Recall – Changing the Narrative Project.

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