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Goals Soccer Centres, the five-a-side football pitches operator, saw a rise across the board in its preliminary results for the year ended December 31st. Overall sales were up 9% from £27.8m to £30.4m, while like-for-like (LFL) sales increased by 1%. Operating profit rose 9% to £10.9m from £10.0m and profit before tax was up 21% at £9.2m from £7.6m. This was partly attributed to progress made on establishing a national network of five-a-side soccer centres and increased overall capacity. However, the firm performed less well in the corporate events, birthday parties and bar divisions, with LFL sales dropping by 4%, 8% and 3%, respectively. Trading for the current year has got off to a good start with total sales up 6% and LFL sales maintained at the same level, showing "encouraging year on year growth". Keith Rogers, Managing Director of Goals, said: "2011 has been a year of progress and change for Goals. We have added a further four centres to our estate and pioneered an innovative new modular build strategy that will not only reduce costs going forward, but will also enable us to dramatically cut build time.
Im sorry to hear of your high average, lets hope you can break even at the not too distant future, you have been a shareholder here for alot longer than I have, what would you say was the main catalyst to the shareprice falling since you bought in to make these so obviously undervalued?
Well done Randy. Glad you having a good day. I first bought these in March 2010 at 179p so I need a few more good days yet!
Why oh why didnt I buy more at 91.2p when I had the chance...!
To add to this goals has c.44 centres in the UK which cost £2.3-1.5mill to build, so the current M.cap is lower than property cost.
I cant quite work out why this SP is so low, here is a chart of historical prices: http://www.barchart.com/chart.php?sym=GOAL.LS&style=technical&template=&p=DO&d=X&sd=02%2F03%2F2002&ed=02%2F13%2F2012&size=L&log=0&t=CANDLE&v=1&g=1&evnt=1&late=1&o1=&o2=&o3=&sh=100&indicators=BBANDS%2820%2C2%2C10066431%2C3227936511%29%3BSRSI%2814%2C6710886%2C20%2C255%2C16711680%29&chartindicator_3_code=BBANDS&chartindicator_3_param_0=20&chartindicator_3_param_1=2&chartindicator_3_param_2=10066431&chartindicator_3_param_3=3227936511&chartindicator_4_code=SRSI&chartindicator_4_param_0=14&chartindicator_4_param_1=6710886&chartindicator_4_param_2=20&chartindicator_4_param_3=255&chartindicator_4_param_4=16711680&addindicator=&submitted=1&fpage=&txtDate=02%2F13%2F2012#jump Its actually quite strange that the SP has fallen so much after analysing the financial statements since 2005... here is some number crunching: Revenue: 2005 - £11,166,000 2006 - £15,952,000 2007 - £20,048,000 2008 - £26,953,00 2009 - £26,236,000 2010 - £27,804,000 Profit for Year: 2005 - £1,622,000 2006 - £3,040,000 2007 - £4,888,000 2008 - £5,578,000 2009 - £6,068,000 2010 - £5,305,000 This clearly reads to everyone that revenue and end of year final profits have increased year on year yet the Sp has fallen from 440p. There was a fall in profits between 2009-2010, I looked at the Chairmans statement for an explanation to which he stated that late 2009-2010 Uk had the heaviest snowfall in 30years. I think this is a very plausible explanation. So for me I fail to see why the SP is so low, Iv noted from recent RNS that c.2 ii's have reduced their holdings by a small amount and c.4 ii's have increased their holdings by a small amount. Goals has been increasing its centres every year in the Uk and US and is planning to open more this year. It employs very little staff per center, has a fairly high profit margin and because its centres are situated in ideal locations I.E built up residential areas and usually just off a main road..it doesnt have to spend out on mass advertising. I clearly am missing something here either that or the market is missing something with this stock and it shouldnt be priced so low...
Altium Securities upgrades Goals Soccer Centres from hold to buy, target price unchanged at 112p
Brewin Dolphin downgrades Goals Soccer Centres from buy to hold, target price cut from 150p to 108p.
Peel Hunt downgrades Goals Soccer Centres from buy to hold, target price cut from 190p to 125p.
Down 8.73% - looks like the market concentrated on one short sentence "we have since experienced softer than expected trading during the second half of July and through August."
Current Trading Following a satisfactory performance in the first half of 2011 which saw sales, with the exception of April, grow month on month throughout the period, we have since experienced softer than expected trading during the second half of July and through August. However, we fully expect a return to the trading levels seen in the first half of the year in part aided by our 'Get Back in the Game' marketing campaign encouraging summer-lapsed players to get back to playing in early September. Keith Rogers, Managing Director of Goals said: "In view of the current economic climate, we are satisfied with the performance of the business in the first half of this year. The opportunity to utilise modular build pavilions in our rollout is an important development for our business. The opportunity to maintain a strong rollout strategy while reducing costs and shortening build time and simultaneously reducing debt will significantly improve our business model going forward and ensure we stay at the forefront of innovation in this fast growing sector of the leisure industry."
Operational highlights · Number of centres increased by 30% in 18 months - Four centres added during the current period at Sunderland, Liverpool South, Norwich and Hull - One further centre under construction in Chester · A new innovative modular build concept is being trialled at Chester that is expected to - Reduce capital expenditure to circa £1.5m per centre - Improve returns in the business - Allow for increased rollout in future, if appropriate · Two of 2011 scheduled openings deferred till 2012 to allow evaluation of new modular concept · Minimum of four centres to open during 2012
Key Points Financial · Sales up 11% to £14.7m (2010: £13.2m) · Like for like sales up 3%* (2010: down 3%) · EBITDA up 10% to £6.4m (2010: £5.8m) · Adjusted Profit Before Income Tax** up 8% to £4.1m (2010: £3.8m) · Profit Before Income Tax up 46% to £4.0m (2010: £2.7m) · Adjusted diluted Earnings Per Share** up 9% to 5.8p (2010: 5.3p) · Diluted Earnings Per Share up 50% to 5.7p (2010: 3.8p) · Ordinary dividend maintained at 0.675p per share (2010: 0.675p) · Net cash generated from operations up 24% to £6.6m (2010: £5.3m) · Net bank debt of £54.4m
http://www.investegate.co.uk/Article.aspx?id=201109050700105815N
I have just sold my holding in this company, only because I am getting married.....crazy I know!! I think that long term these shares will prove a very good investment but the value will not be realised until at least next year or the year after. You will however, see the shares spike around September as the summer trading results will be given. Just look at the past few years. I have always bought and sold on the back of this. Anyway good luck to you all. I will be back to this golden nugget in the future.
This share is proving to be a bit of a lemon, anyone else share the same view ?
Post Close Trading Update Goals Soccer Centres PLC, the UK's premier operator of next generation outdoor 5-a-side soccer centres with 42 centres in the UK and one in Los Angeles, USA, announces a trading update for the six months ended 30 June 2011, in advance of the release of the Company's interim results on 5 September 2011. Underlying trading for the first six months has been in line with management expectations with like for like sales up 3%. The impact of the contested VAT on block bookings by teams to fulfil their league fixtures has resulted in overall like for like sales being flat. The Company remains on track and within budget to open four new centres during the year. Goals Hull opened successfully in May and initial trading is satisfactory. Since the update at our AGM on 28 April 2011, HMRC have confirmed their view that block bookings of pitches made by teams to fulfil their league fixtures should be treated as standard rated for VAT. Our advisors do not agree with HMRC and we are appealing this decision. This process is expected to take approximately nine months. Until our position is confirmed, our sales and profits will continue to be reduced by approximately £0.65m per annum. As was stated previously, the impact on cash flow of an adverse ruling either retrospectively or in the future is not expected to be material. We will update the market of any progress at the appropriate time.
http://www.investegate.co.uk/Article.aspx?id=201107010700065329J
LATZIOOOOOOOOOOOOOO LOL
Buy Goals Soccer Centres (GOAL) at 132.75p Says The Small Cap Shares Team Goals Soccer Centres (GOAL) was tipped in Small Cap Shares back in December last year, but with the shares still trading on a low multiple and the company set for significant expansion, the team believes Goals still offers good value.
Bad weather hits Goals Soccer profits Date: Monday 28 Feb 2011 LONDON (ShareCast) - The extreme weather that hit much of Britain towards the end of last year hurt 5-a-side football pitch operator Goals Soccer’s profits. Pre-tax profits in the year to 31 December fell by 14% from last year to £7.6m, even as sales climbed by 6% to £27.8m. Like-for-like sales, excluding the impact of new openings, were down by 4%, but would have climbed by 1% but for the snow, Goals, which has opened eight new centres over the past eight months, said. The bad weather hit profits by £1.7m during the year. Meanwhile, trading has started well so far in 2011, with total sales up by 15% and like for sales up by 5% for the first 55 weeks of the year, albeit against a snow-affected period last year. “During the year we have taken further strides to strengthen our position as the premier five-a-side soccer operator in the UK,” managing director Keith Rogers said.
Hmmmmm - Market may not like this today but if they accept the weather issues then may get away with a flat day
Keith Rogers, Managing Director of Goals said: "During the year we have taken further strides to strengthen our position as the premier five-a-side soccer operator in the UK. Over the last 14 months we have added eight new centres giving us a 42% share of the market and our pipeline remains strong. The strong cash generative nature of our business has allowed us to reach a stage in our development where we can self fund a rollout of a minimum of 4 centres a year. In June this year we opened our first site in the USA and signed a franchise agreement in Ireland. This further underpins the global appetite for five-a-side football and the strength of the Goals brand."
Operational highlights · Five UK centres added during the year at Liverpool North, Portsmouth, Eltham, Gillette Corner in London and Ipswich · Three UK centres, delayed due to adverse weather, opened since the year end at Sunderland, Liverpool South and Norwich · Minimum of a further four centres to open during 2011 funded from strong cash generation · One centre under construction at Hull and another due to commence construction shortly · Centre in Los Angeles, USA, opened in June 2010 · Master franchise agreement granted to experienced leisure operator in the Republic of Ireland and Northern Ireland
Key points · Sales up 6% to £27.8m (2009: £26.2m) · Adverse weather reduced profit by £1.7m (2009:£0.3m) · Like-for-like sales down 4% (up 1% excluding the adverse weather impact) · Operating profit down 6%to £10.0m (2009: £10.6m) · Profit Before Tax down 14% to £7.6m (2009: £8.8m) · Adjusted Profit Before Tax* down 3% to £8.5m (2009: £8.8m) · Adjusted Diluted EPS* down 8%to 12.0p (2009: 13.0p) · Final ordinary dividend maintained at 1.175p per share making 1.85p for the full year · Net cash generated from operations down 9% to £10.4m (2009: £11.4m)