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I am a fan of my local Beales and looking at the low share price in relation to net assets. I wonder if anyone has any idea of how many shares it would be possible to buy in the market. Do you think it would be possible to buy £100,000 worth ? I see this as a worthwhile punt having known the store for many years.
nice buy
that this could be a sleeper. When the economy finally kicks off again they will be handily placed to take advantage of there position on the High Street. It will not make mega bucks but IMHO worthy of a long term hold if bought low now.
I saw the price falling and went into my local Beales ...looked reasonably busy and bright ..so bought some shares as I think long term it will be ok.
Is it a secret?
INTERIM MANAGEMENT STATEMENT AND TRADING UPDATE TRADING UPDATE - MARCH 2012 16 March 2012 The Company reports that the total Group gross sales including concessions and VAT for the first 19 weeks of the year, to 10 March 2012, were 45.9% higher than the previous year. This increase was driven by the acquisition of 19 department stores from Anglia Regional Co-operative Society Limited which was completed on 22 May 2011, which increased the number of stores that the Group operates from 13 to 32. The Group has reviewed its trading stance over the period and reduced the frequency of 'mega day' discount events and consequently like for like sales including concessions and VAT for the 19 weeks to 10 March were 8.4% lower than the previous year. As noted in the Annual Report, trading in the current year has been significantly adversely affected by the difficult economic conditions faced by all retailers. With this in mind the Group has undertaken a major restructuring review of its operations and is in the process of implementing a series of strategies which were identified during the course of the review. Trading to date is consistent with the Board's expectation of total year performance.
http://www.investegate.co.uk/Article.aspx?id=201203160700104606Z
Mike Killingley Chairman commented: "Your Board regards the acquisition of the 19 ARCS stores as essential to the Group's strategy to achieve greater critical mass, to enable Beales to prosper in the modern retail environment and accelerate the restoration of profitability." The acquisition has increased our trading floor space by 80% from about 550,000 to 1 million square feet, and the number of stores we operate has increased from 13 to 32. There is considerable scope to improve the performance of the new stores to the levels currently achieved by Beales. We shall also be able to improve purchasing arrangements, and achieve economies of scale.
INTERIM RESULTS Beale PLC, the specialist department store operator, announces Interim Results for the 26 weeks ended 30 April 2011. • On 22 May 2011 Beale PLC completed the acquisition of 19 department stores from Anglia Regional Co-operative Society ("ARCS"). • Loss before tax of £1.2 million (2010: profit £0.9 million). The loss included £1.3 million of exceptional costs in connection with the acquisition of 19 department stores. • Gross sales, which include concession sales and VAT, were up 3.3%*. • Revenue at £27.3 million (2010: £26.2 million) increased by 4.0%*.
Restoration to Trading Beale PLC announces that following the publication of the Prospectus in connection with the proposed acquisition of 19 department stores from Anglia Regional Co-operative Society Limited (the "Acquisition"), as announced on 21 April 2011, the Company's shares will be restored to trading with effect from 12 May 2011. As previously notified, the Acquisition is subject to approval by shareholders at the Extraordinary General Meeting to be held on Tuesday 17 May 2011. If approved the Acquisition is expected to complete on 22 May 2011 ("Completion"). Subject to approval of the Acquisition and Completion the UK Listing Authority will cancel the listing of the Company's ordinary shares ("Ordinary Shares") and applications will be made by the Company to the UK Listing Authority and the London Stock Exchange at the appropriate time for the Ordinary Shares to be readmitted to listing on the Official List and to trading on the London Stock Exchange's Main Market for listed securities ("Readmission"). Readmission is expected to occur on 24 May 2011. Readmission will not require new share certificates to be issued and the Company name and the ticker will remain BAE.
http://www.investegate.co.uk/Article.aspx?id=201105111549404200G
Beale buys 19 more stores Date: Wednesday 06 Apr 2011 LONDON (ShareCast) - Department store group Beale will more than double the number of stores under its ownership after acquiring 19 further sites from a co-operative society for a total consideration of £7.5m. JE Beale, the principal trading subsidiary of Beale, will takeover 19 of the 23 department stores currently owned by Anglia Regional Co-operative Society. This will bring its total number to 32, adding around 450,000 square feet of trading space. “This transaction is in line with our strategy to grow the group, secures the future of the acquired stores and marks a step change in the development of Beales,” said Beale chief executive officer Tony Brown. Trading in Beale’s shares has been suspending pending approval by the UK Listing Authority and publication of a combined circular and prospectus, the group said.
Commenting on the Proposed Acquisition, Tony Brown, CEO said: "We are very pleased that we have been able to reach conditional agreement with ARCS for the acquisition of these 19 stores. This transaction is in line with our strategy to grow the Group, secures the future of the acquired stores and marks a step change in the development of Beales".
Proposed acquisition of 19 department stores from Anglia Regional Co-operative Society Limited ("ARCS") Proposed readmission of the Ordinary Shares to listing on the Official List of the UK Listing Authority and to trading on the London Stock Exchange Proposed subscription by ARCS for new redeemable preference shares and Suspension of trading The board of directors of Beale (the "Board") is pleased to announce that JE Beale plc (the principal trading subsidiary of the Company) ("JEB") has entered into a conditional agreement to acquire the trade and assets of 19 of the 23 department stores currently owned and operated by ARCS, a UK regional department store operator and co-operative society, for a total initial consideration of £7.5 million payable wholly in cash on completion of the Acquisition Agreement. The consideration payable in respect of the Proposed Acquisition will be financed entirely by ARCS through the provision by it to JEB of a £2.5 million unsecured five year term loan and ARCS' subscription for £8.5 million principal of unlisted redeemable preference shares to be issued by the Company. Due to its size in relation to Beale, the Proposed Acquisition constitutes a "reverse takeover" for the purposes of the Listing Rules. At the request of the Company, trading in Beale's ordinary shares on the Main Market of the London Stock Exchange has been suspended pending approval by the UK Listing Authority and publication of a combined circular and prospectus. Shareholder approval of the Proposed Acquisition will be sought at an extraordinary general meeting to be convened in due course, after which the Company will seek readmission of the Ordinary Shares to listing on the Official List of the UK Listing Authority and to trading on the London Stock Exchange. Further announcements will be made as appropriate.
I see Mr Pepper hasnt reported back with his research yet, certainly taking his time!
lol,,,
MR P must be kicking himself... well done tho for spoting the potenional, I look forward to you reporting back with your research. Rebel
I hope you didn't wait too long before buying into this share
I see that this stock has no posting thus far. Well, let's get the ball rolling. I don't know enough about the company to buy any stock as yet, but I'll do some resreach and post again in due course.