Bluebird sets up Disney link xxxx Bluebird
THE INVESTMENT COLUMN
That all changed yesterday following news that Bluebird had signed a deal with Mattel, its main distributor, and Walt Disney to market a new range of miniature characters based on Mickey Mouse, Donald Duck and their extensive relations. No figures were placed on the deal, but it does not take a lot of imagination to see that the enormous pulling power of the Disney brand could lever Bluebird on to a new plane. The shares responded accordingly, soaring 100p to 370p for a one-day rise of 37 per cent.
Followers of the company had been fretting over the rapid demise of Mighty Max, which did pounds 46m of sales in the first two years but hit the buffers in 1995, when business is expected to slump to pounds 9m. That will knock a sizeable hole in group turnover worth pounds 99.4m last year, which will not be entirely made up by the launch of Mimi and the Goo Goos, forecast to add pounds 9m to this year's sales.
The launch next year will do nothing for 1995 profits, which if they hit pounds 18m would put the shares on a prospective p/e of 15. But analysts expect Disney could add at least pounds 1.5m to next year's bottom line, taking it to pounds 24m and reducing the multiple to 11. That still looks reasonable value, particularly given that Mattel trades on around 20.
- 1 Michael Brown shooting: Amnesty International sends team within US for first time as National Guard deployed
- 2 James Foley 'beheaded': Isis video shows militant with British accent 'execute US journalist' – and warns Obama of more to come
- 3 Reading Festival 2014: Tesco branch replaces salad and potatoes for Jagermesiter and vodka
- 4 Here’s the damning letter Robin Williams wrote to his Mrs Doubtfire co-star's principal after they expelled her
- 5 Ferguson protests: 90-year-old Holocaust survivor Hedy Epstein ‘arrested’ by police during St Louis demonstrations
Michael Brown shooting: Amnesty International sends team within US for first time as National Guard deployed
Michael Brown shooting: Ferguson police shoot and kill second young black man
James Foley 'beheaded': Isis video shows militant with British accent 'execute US journalist' – and warns Obama of more to come
Iraq crisis: Islamic State's message to America - 'We will drown you all in blood'
Ferguson: In the heartlands of America, a descent into madness
Isis threat: Cameron wants an alliance with Iran
Crisis? What crisis? A visiting US doctor gives the NHS a rave review
Scottish independence: English people overwhelmingly want Scotland to stay in the UK
Ukip MEP calls for reintroduction of death penalty on fiftieth anniversary of last deaths
Russell Brand calls for Israel boycott: Comedian urges big businesses that 'facilitate the oppression of people in Gaza' to pull funding
Michael Brown shooting: Chaos erupts on the streets of Ferguson after autopsy shows teenager was shot six times – twice in the head
iJobs Money & Business
£475 - £550 per day + competitive: Orgtel: Senior Technical Accountant-Insuran...
£200 - £290 per annum + competitive: Orgtel: Sales Performance Manager, Key Ba...
£25000 - £30000 per annum + bonus+benefits+package: Harrington Starr: Junior D...
£600 - £800 per day: Harrington Starr: Java/Calypso Developer Java, Calypso, ...