Evil Diaries: Thoroughly Browned On

N Brown (BWNG) reported yesterday and the shares went up from 14p to 20p. I doubt if they stop there. The Alliance family are still in control and, surely, they would look seriously at a bid north of 35p. Perhaps more.

Tangible NAV is £320m and with 460m shares in issue BWNG is valued at c. £95m. Debts are completely under control. 

I do not know what prospective PE BWNG is on. But, although it might be a disappointing 10, 5 or lower seems entirely possible.

I myself have been a customer of their brand, Jacamo (along with Freddy Flintoff), and report that the goods are satisfactory and attractively priced (or so my wife tells me).

There are one or two lunatics trying to inhibit the London flotation of the Chinese fast fashion business Shein, They will fail in their endeavours. And a moment’s comparison of this valuation with that of BWNG should make investors rush for the latter.