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Past the 60p barrier? "Look" as motored ahead in last few weeks. This should follow.
418 grand of shares traded today. If it is a sell then it could mean that a share overhang is cleared. The price has gone up so it could have been a buy. The ask is technically 61p now so we might be able to breach the 60p mid price and establish a new range.
which are sells.Good to see the price hold up despite these sales. Will be interesting to see the RNS to see who has laid off these shares.
now. At last a move up after having been idling for a while. Very under-rated share given the strong sales of cars that has persisted for the longest spell ever. I am looking for 58p here
Update, volumes increasing and margins on used also increasing. Expect F&I to follow suit. Key acquisitions of another Jaguar/Land Rover dealership last year with those brands expected to further increase sales in 2015 with the arrival of new products in lucrative market segments such as the Jaguar XE.
Good update today and nice to see CAMB outperforming. Should be on a p/e of about 10 from the end of March which makes it cheaper than its peers. The low petrol price might encourage more modal switch and more driving which would mean more sales and servicing for Camb. I think an SP of 58p is fairer for this company than the current 52p,
Nice Results!
so not surprised see all 30 trades so far today have been purchases. Hopefully the price will rise back to levels seen a couple of months ago.
Cambria, the franchised motor retailer, announces the following trading update ahead of its preliminary results for the year ended 31 August 2014. Trading Update Further to the Acquisition, Trading Update and New Franchise announcement released on 8 July 2014, the Board is pleased to report that the Group has continued to perform well and that the results for the year ended 31 August 2014 are expected to be ahead of current market forecasts. Trading in the first 11 months of the 2013/14 financial year has been substantially ahead of the corresponding period in 2012/13. New vehicle unit sales, excluding the recently acquired Land Rover and Jaguar business in Barnet, increased by 15.7%, outperforming the overall market which rose by 10.6%, and margins remained strong. Used vehicle sales also performed well; unit sales were 3.2% ahead of the same period in the prior year with a gross profit per unit improvement of 5.9%. Growth in the Group's aftersales operations also continued with a profit increase of 4.3% year-on-year. The integration of Land Rover and Jaguar in Barnet is progressing well and the Board is encouraged with the potential of this business, which is expected to make a considerable contribution to the Group's performance in 2014/15 and beyond. Heading into the important September trading period, the Group's new car order book is ahead of the same point last year, reflecting the continuing strength of the new car market. The Board continues to view prospects for the new financial year with confidence. Notice of Results Cambria will announce its preliminary results for the year ended 31 August 2014 on Tuesday 25 November 2014.
Lovely to see some strong buying action this morning. News later today...come on !
Year end was 31st August and I have had reply email from the FD James Mullins that there will be a pre close update and notification of result on Monday 8th September.
Hop behind the wheel at franchised motor retailer Cambria Automobiles (CAMB:AIM) at 54p following positive read-across from sector peer Vertu Motors (VTU:AIM) (24 Jul). The latter’s trading update suggests the UK new car market has not yet run out of fuel. Steered by chief executive officer Mark Lavery, motor retailer Cambria trades under local brand names such as Dees, Doves, Grange and Invicta and has a balanced portfolio spanning the volume, premium and high luxury brands. At a time when the UK consumer is feeling more confident, the Swindon-headquartered company is growing organically and through acquisitions, with Lavery looking to boost annual sales from almost £400 million last year to £1 billion plus in time. Given its strengthening balance sheet, flush with £25.8 million net assets at the half-year and underpinned by substantial property, Cambria is ready to move on a buoyant bid pipeline. Though the £54 million cap made its name buying and turning round underperforming dealerships, it is now moving towards immediately earnings-enhancing deals that strengthen the brand portfolio mix. Cambria’s latest acquisition (8 Jul) is its first Land Rover franchise, a canny move given bumper demand for the brand, and a sixth Jaguar dealership. Bought from larger quoted rival Lookers (LOOK) for £10.5 million in cash, these assets have boosted Cambria’s prestige brand presence and enriched what are admittedly low industry margins. Vertu’s latest trading update is encouraging for both businesses, trading ahead of expectations in the four months to June, during which the UK new retail market continued to enjoy double-digit year-on-year growth. This reflects the compelling product and finance offers coming the way of UK consumers at a time when manufacturers see overcapacity and weak demand in continental European markets. Cambria pleased investors on 8 July with news that it should ‘at least match market expectations’ for the year to August. These results will be published in November where joint broker Panmure Gordon forecasts £5 million pre-tax profit, earnings per share of 3.9p and a 0.5p dividend. For the financial year to August 2015, Cambria is forecast to make £6.1 million pre-tax profit for earnings per share of 4.8p, rising to £6.4 million and 5p by August 2016. There’s a good chance that the earnings upgrade cycle has further to run. Panmure Gordon’s 84p price target suggests attractive 56% potential upside and we share its bullish view.
Another great write up from www.sharesmagazine.co.uk for CAMB. I have no idea why this share is so far below the radar but there is obvious upside to the SP.
Article from growthcompanyinvestor.com from March: Cambria's profit acceleration. Car dealer Cambria Automobiles is one company that is not attracting the attention of many small-cap investors. While car dealers as a whole have enjoyed rising share prices for the past 3 years, as British consumers return to making big-ticket purchases, they have not enjoyed the resultant attention that might have been expected, suffering from an "unglamorous" reputation shared by property developers and manufacturers of such exciting items as bin bags and industrial components. A number of brands fall under the Cambria umbrella. These include the Dove Group, an almost 90 year old business that began by selling Rovers and Jaguars but later expanded into becoming a Volvo specialist in 2006 after making a number of acquisitions and with outlets everywhere from Oldham to Croydon. Cambria's other brands include luxury dealer Grange, which has marques such as Aston Martin, Jensen and Lotus falling under its tree. Other companies that comprise Cambria's group include South London focused Ford dealer Dees, as well as Invicta Motors, which sells a range of lower value brands such as Honda and Mazda. There is also its Motorparks brand, which sells everything from budget brands to higher value Alfa Romeos. Cambria is led by chief executive Mark Lavery, who founded the company in 2006 having previously served as a director at Scottish car dealer Reg Vardy. The finance director is James Mullins, previously part of Grant Thornton's automotive team, while the chairman is Philip Swatman, who held positions at a number of investment banking firms including Rothschild, where he ascended to the role of vice chairman. Lavery's stake in the company stands at a hefty 40 per cent, while Mullins's stands at 2.5 per cent. Meanwhile, Swatman holds a mere 0.2 per cent. In results for the year to August, pre-tax profits rose from £2.7m to £4m on turnover that powered ahead from £352.5m to £395.8m. During the period, the group acquired Chelmsford based Vauxhall dealer County Motor Works for £4.1m. Net cash stood at £2.9m. A group operating a buy and build strategy, Cambria contains a mixture of luxury and everyday marques. The problem with highly acquisitive companies is tht they have a tendency to take on excessive leverage to generate increasing revenues - something it has to date avoided. While Cambria is not a groundbreaking business, it is a well run auto dealer with scope for further growth and a dividend. Long term buy. Regards CM
Does someone know something we don't or are they buys? seem way below bid for sells?
of the shares in issue traded today?
Cambria's track record speaks for itself. The business is tightly run, which has created a strong balance sheet and sector-beating returns on capital from which to fund future growth. With the UK new car market expected to expand over 2014 and with Cambria about to move into a new growth phase, jump aboard these undervalued shares before they speed away...........as always DYOR and good luck.
Underpinning Cambria's success is a strict adherence to stringent operating parameters. This means purchasing asset-backed businesses with no, or very little, goodwill, and without legacy assets such as burdensome pension schemes. As a result, the balance sheet is unusually robust with just £356,000 of intangibles out of £24.6m of net assets, plus a net cash pile of £2.9m. Analysts at N+1 Singer believe by using the funds at its disposal, Cambria could boost sales by about 70 per cent. Additionally, Cambria's pre-tax return on capital employed is 20 per cent - double that of the peer group average. This explains why Singer's analysts describe the rating as "anomalous" - Cambria trades on a calendar year 2014 PE ratio of 12.8 - a 10 per cent discount to the peer group. On an enterprise value-to-sales basis, the discount rises to 53 per cent. The caveat here is that Cambria's growth could be curtailed by an improvement in Europe's car market, and there are indeed signs that it's troughing. Still, a sustained recovery will take some time to materialise and the UK market is still 15 per cent off previous peaks. Declining consumer confidence is another risk factor, but economic data is positive and points towards an uptick in consumer spending - at least in the near term.
In an industry that's still highly fragmented, there's a lot of potential for Cambria's growth-through-acquisition strategy. Formed in 2006 and built up from scratch, Cambria typically buys up distressed businesses and quickly turns them around. Its track record here is strong. Take 2007 when Cambria acquired Summit Auto Group, which made a £6.9m pre-tax loss in the previous year. Following the acquisition, the business made a profit contribution of £800,000 after just eight months of trading. There have been nine successful acquisitions since Cambria's inception, so it now represents 17 brands through 27 dealerships. An impressive set of results covering the year to August further demonstrates the strength of its strategy. New vehicles sales leapt 16.1 per cent by volume, resulting in a 32 per cent rise in adjusted pre-tax profit to £4.1m - and this was despite some of its assets still being in turnaround mode. Now, a strategic shift in favour of acquiring higher-quality dealerships that are immediately earnings enhancing means Cambria's growth should accelerate further. "The way I describe it is we are coming to end of toddlerhood and growing into adolescence," says chief executive Mark Lavery.
The country's roads are awash with shiny new vehicles and driving this automotive spending spree is, perhaps surprisingly, mainland Europe. With demand for new cars weak on the continent, car manufacturers, faced with over supply, are showering UK consumers with cheap financing deals, as Britain's economy is healthier. The concomitant effect has been that stocks in this retail sub-sector have performed extremely well this year, and given the cyclical nature of the industry and rising consumer confidence, it appears 2014 will be a good year, too. It's not surprising then, that the sector has seen a significant re-rating. But one company, Cambria Automobiles (CAMB) has fallen under the radar - until now. That's partly because Cambria's so much smaller and younger than its peers - it only floated on the Alternative Investment Market in 2010. But having just reported a bumper set of full-year results and with a clear growth strategy, an unusually strong balance sheet and superior returns on capital to top it all off, the cheaper rating has attracted attention from City analysts and the shares seem to be gearing up for acceleration
Share price up from Fridays opening price of 46.5p to 50.5p today. Article by Investors Chronicle on Thursday was very positive.
A correction to my earlier post, results are now due on 26th November.
Very interesting RNS today acknowledging a buy of shares with a value circa £335k, by a member of the Burt Concert Party. I'm interpreting this as another excellent endorsement ahead of the results on 25th November and there has already been a share price uptick today.
up 16% in September......