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New car sales are up by double digits. I was told today by a colleague that she will struggle to get delivery of hers before Christmas. This must reflect in the retailers. The last rns confirms they are doing ell...
Soon we will know if their last rns was correct. Results well in excess.... Mmmmmm
sales up. This must reflect in the results of this when the final figures are released.
Interesting....MACD now crossed and rising up.
Good sign when the Chairman spends £50k on shares I think. "Cambria was advised on 10 July 2013 that Raigersfield Capital Limited, a family company controlled by Philip Swatman, (Chairman of Cambria) and his wife Rosemary Swatman, acquired 165,000 ordinary shares at 30.5 pence per share."
Good way to end a week. 100k at 31.25. this little company continues to prosper
Some of these recently reported 'sales' are in fact purchases. My purchase at 19.80 shown as a sale
He added: "The group has had a strong start to the current financial year, ahead of business plan and significantly ahead of previous year. New car volumes are 8.6% ahead of last year with improved margin. I am pleased to report that our Guest Connect programme is in its second year of operation and it is having a significant effect on aftersales profit contribution. I remain confident that the group will deliver an improved performance in our 2013 financial year. "
The group posted net assets worth £21.5m and a balance sheet position with £0.3m of goodwill. The underlying return on shareholders' funds was 13.5% and the group made an announcement of a dividend for the year of 0.3p per share, versus none last year. The firm has also announced its intention to maintain a progressive dividend policy. Commenting on the results, Mark Lavery, Chief Executive said: "Cambria has performed in line with our expectations and, after a particularly difficult first half, has produced a far better second half. The cost rationalisation programme carried out in the first half is now broadly completed and while we continue to look at areas where cost saving can be made, we are in a leaner position than at the same point last year."
Total revenue for the year fell 5.57 per cent to £352.5m at UK motor dealer group Cambria Automobiles, according to the group's full year results published on Friday. In the financial year to August 31st 2012, underlying profit before tax at the group fell to £3.1m, compared to £4.9m in the previous year. This was in line with the board's expectation, reflecting weaker new car volume and profitability, particularly in the first half of the year. Continuing businesses made an underlying profit before tax of £3.5m with the acquired dealership making a loss of £0.22m and disposed dealership making a loss of £0.14m. A rationalisation programme was implemented in the first quarter with a one-off cost of £0.3m.
Commenting on the results, Mark Lavery, Chief Executive said: "Cambria has performed in line with our expectations and, after a particularly difficult first half, has produced a far better second half. The cost rationalisation programme carried out in the first half is now broadly completed and while we continue to look at areas where cost saving can be made, we are in a leaner position than at the same point last year. During the course of the year we completed the purchase of our first Vauxhall business with the addition of Doves Vauxhall Southampton to the portfolio, refurbishing the facility in line with manufacturer standards. We also purchased the freehold of our Blackburn Volvo and Renault facility and disposed of our loss making Birmingham Pure Triumph business. The balance sheet and liquidity continue to improve and we have significant facilities available for continued expansion. It is critical that the Group protects its balanced Brand portfolio with significant interests in high luxury, premium and volume brands and we hope to be in a position to announce further acquisitions in the near future. There has been a positive change in new car market conditions since the beginning of the 2012 Calendar year. With the pressure on the mainland European car markets, the UK appears to be performing well in comparison. The Group has had a strong start to the current financial year, ahead of business plan and significantly ahead of previous year. New car volumes are 8.6% ahead of last year with improved margin. I am pleased to report that our Guest Connect programme is in its second year of operation and it is having a significant effect on aftersales profit contribution. I remain confident that the Group will deliver an improved performance in our 2013 financial year. "
Operational Highlights · Total new vehicle unit sales decreased 5.4% year on year to 7,718 from 8,155 in 2011 against the Group's Brand portfolio partners decrease in registrations of 4.1%. The total new car market registrations increased 1.6% year on year · New vehicle gross profit reduced by £1.5m with margin reducing 0.4% impacted by effect of multiple pressures facing vehicle manufacturer partners, particularly during the first half · Used vehicle gross profit up £1.1m, and a 1% point margin improvement to 9.2%, against unit sales decrease of 2.7% year on year · Acquisition of the Group's maiden Vauxhall business completed in September 2011, with integration progressing well, although the business made losses of £0.22m
Cambria Automobiles plc, the UK motor dealer group, today announces its full year results for the financial year ending 31st August 2012. Financial Highlights · Total revenue for the year of £352.5m, down from £373.3m in prior year · Underlying Profit before tax of £3.1m, versus £4.9m in prior year, in line with the Board's expectation, reflecting weaker new car volume and profitability particularly in the first half of the year · Continuing businesses made an underlying Profit before tax of £3.5m with the acquired dealership making a loss of £0.22m and disposed dealership making a loss of £0.14m · Rationalisation programme implemented in the first quarter with a one off cost of £0.3m significantly reduced ongoing cost structure in like for like businesses · Strong cash flows resulting in net cash of £0.1m, net gearing nil · Group net assets at £21.5m · Robust balance sheet position with only £0.3m of goodwill · Underlying return on shareholders' funds of 13.5 % · Announcement of dividend for the year of 0.3p per share
I looked at the Vertu website who are on the acquisition trail they seem to have no prestige franchises where Cambria do , jag and volvo sites and in places where Vertu have little exposure Would Cambria make a nice fit for Vertu I would have thought the prestige models are where you want to be if you are motor retailer.Its probably me putting 2+2 and getting 5.Just a thought 30p will do nicely.Is it right though that they have 80 mill debt.
Value: £115,000..............for below
Cambria Automobiles (CAMB) Director name: Mr Michael Wallace Burt Amount purchased: 1,000,000 @ 11.50p
Cambria Automobiles, a franchised motor retailer, has posted a year-on-year fall in revenue for the six months ended February 29th, from £184,2m to £166.9m. Underlying pre-tax profit was £1.1m, compared to £2.6m in the same period the previous year, the expected result of weaker new car volume and profitability. New vehicle unit sales decreased 9.8% year-on-year to 3,502 from 3,882 in 2011. Net debt at the end of the period stood at £1.0m, while group assets were £19.7m. The firm described the performance as "relatively resilient against a difficult market backdrop". The company emphasised its confidence going into the second half of the year, saying it was well-equipped to deal with the short-term challenges.
http://www.investegate.co.uk/Article.aspx?id=201108181510066284M
Cambria notes Promethean aim to amend 'lock-in' 18 August 2011 | 15:45pm StockMarketWire.com - Cambria Automobiles has noted comments from major shareholder Promethean about amending terms of a lock-in agreement. Promethean holds 33.32% of Cambria's issued ordinary share capital which is which is managed through Promethean Investments. Promethean chairman Sir Peter Burt and Michael Burt, who is connected with Promethean, are both non-executive directors of Cambria. A statement by Promethean said that the company and the manager were continuing to use their best efforts to: ● Procure the divestment of the fund's remaining quoted investments and distribution of the realisation proceeds to shareholders by 31 December ● Work together to seek Cambria's consent to enable the company to exit (in whole or in part) its investment in Cambria prior to the expiration of the lock-in agreement. Proceeds would be returned to shareholders either in cash or in specie. Under the terms of Cambria's admission to AIM, the shares are 'locked-in' until 30 June and Cambria's consent is required to change the lock-in terms.
Mark Lavery, Chief Executive Officer, said: "We are delighted to announce another strong trading performance for the half year, which has seen Cambria deliver growth through the continued integration of the businesses acquired during our 2010 financial year. The performance is all the more pleasing against the backdrop of a new car market that is 13% down (private registrations 26% down) compared with the corresponding period last year. Cambria's continuing businesses have shown improved profitability year on year, whilst we have continued to invest in the businesses acquired in 2010 including a major refurbishment of the Maidstone property for Mazda and Honda. These acquisitions now have the foundations to improve their financial performance in line with our strategy. Our prudent approach to balance sheet management and costs places Cambria in a strong position to take advantage of acquisition opportunities as they arise".
Operating performance highlights · New vehicle unit sales decreased 10% year on year to 3,882 from 4,290, offset by higher profit per unit · New car units sales increased 30% adjusted for exclusion of 1,297 scrappage units delivered in the 6 month period to 28 February 2010 · Used vehicle unit sales increased 14% year on year to 7,016 generating a 9% increase in gross profit · Aftersales revenues increased by 10% and gross profits increased by 11% · Maidstone freehold property significantly redeveloped during the period for Mazda and Honda · Blackburn property development completed during the period in order to add Alfa Romeo and a further Renault franchise onto the Blackburn motor park facility alongside Volvo and Fiat
Cambria Automobiles plc ("Cambria", or "the Group") announces its interim results for the six months ended 28 February 2011. Cambria was admitted to AIM on 1 April 2010 and is a franchised motor retailer operating 39 franchised outlets from 26 locations in the UK. Financial highlights · Total revenue increased 5% year on year to £184.2m including £23.9m from acquisitions made during the previous financial year · Profit before tax of £2.6m was ahead of the Board's expectations, and slightly ahead of prior year · Continuing businesses made a profit before tax of £3m, whilst the acquisitions made in the previous financial year made a loss of £0.4m · Underlying EBITDA increased 14% to £3.8m from £3.3m · Underlying EPS increased to 1.89p from 1.85p · Robust balance sheet position with only £0.3m of goodwill · Net debt £4.9m down from £9.6m at 28 Feb 2010 · Gearing reduced to 27% from 60% · £8m of cash plus a new £5m, 3 year revolving credit facility to fund acquisitions · NAV of £17.9m under-pinned by £22m of freehold and long leasehold property
to have a punt on these.. seem to hav a reasonable track record IMHO DYOR