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State of the spread tho
33%
No thanks
Still more buying ,also watching syme , money moving back in there again ,it looks to have started move up again
cfyn looking like having a strong finish Today
like how moving after rns
Figures tomorrow........
As expected as all major motor retailers update the market. I fear we can expect the sp to move below the £2 level in the coming months. We are a well managed business but there is no appetite for what we sell or work we do. We are geared to the economic worth of the people and these are going to struggle for the foreseeable future. It is going to be a a difficult few years ahead for the car retailers and there will be no rush to buy outlets as majors off load premises. Caffyns is a fine company with a good history but the next few years will be difficult as we pay for COVID 19.
Unfortunately the world has changed There is now the potential of more people working from home meaning less cars in the station car park. Therefore the need for cars will at best stagnate or fall: in any event not good for us. The current virus will mean less visits to the sale rooms thus fewer sales. After sales will be down as car owners migrate to a less expensive facility. The current tenant at Lewes will not stay so what to do with that property? I am a great fan of Caffyns for a number of reasons and perhaps the BOD should look to change direction - property perhaps. I am sure the founders of the company may say that the journey so far has been good but there is no need to continue for the sake of history.
Interims at the end of November and the Lookers update not looking good for us.
So there we have it a loss in the second half - and with the state of the car market not much to look forward in the half to September. A lower dividend perhaps?
Due Friday 31st I guess with earnings for the year of 31p? They may hold the final dividend but may need to caution the current year payout. IMO of course.
Due at the end of the month and I think the best we can expect is a maintained dividend. Trade is not too good for motor retailers and CFYN have never been shy to cut dividends in difficult times.
Not too sure why Andrew continues to increase his holding in CFN which is controlled by Caffyn Family Holdings Ltd. He may want to work his way onto the Board and capitalise on the disposal of the properties. Caffyns may of course want to fold their tent - no doubt they get approaches all the time.
Here is my analysis on Caffyns: http://bit.ly/2J2Thk8
The auto retailers had a busy August with increased sales. Looking good ....
For all the reasons mentioned it seems a good share to keep holding. Lots of value not reflected in the share price with its freehold property. I have 5000 shares now and will keep adding on a monthly basis. The lower euro must be helping margins as well as the car market getting a boost this year from pension freedom.While we wait for a re-rate boosted by sector consolidation or get taken-out it is also paying a reasonable (and increasing) dividend.
had this one for ages and always anticipated it being taken out by a larger player, Drawbacks are large family holders and problems with pension fund deficit. They now have an agreement on funding the latter so an impediment removed. Some lovely property assets on good sites and I agree actual NAV far higher than the share price. it always seems it should be doing better than it is. Rather small market capitalisation which means it is under the radar of any Fund Manager and equally poor liquidity
one of the most irritating shares to hold. Not too much growth to be had on low margins.
Final results due end of the month I believe. With strong fundamentals and buoyant car market the results should be good. I picked up 2k shares today.
In fact, talking of TNW, it gets even better. As PS says there's hidden value here so "Net tangible assets were £17.6m, so add on the freehold property surplus of £6m, and you're at £23.6m" 43% discount to the MC Wow!
Thanks mate. Will do. Quick Valuation Notes P/E of 11.3 is pretty low. Yield of 3% is decent EV/EBIT isn't great - standing at 29 TNW is £17.6m and therefore 107% of the MC = great margin of safety here I'd have thought Growth is really good with 40% rise in PBT Cyclical sector = great All in all this is looking rather tasty!
Libero, look out for when Pendragon and Vertu when they release their trading updates. Easy 10% to be made. Car sales up which means the F&I are up as well.
I don't know how this was so under the radar that it was even under my radar lol but I'll give this a research soon :)
Another set of excellent results from a member of the automotive community that is doing very nicely at present. Well done GLA
How does a company that once had over 40 branches that now has 12 branches still afford to pay its director 280k a year not including the other directors salary ?? by selling off the branches and making staff redundant !!
The Chief Executive, Simon Caffyn, commented: "We are pleased to report a 6.4% rise in revenue to over £200m and a 68% rise in underlying profit before tax. Our new car market share improved, used car sales rose by 7.1% and aftersales turnover was up 4.9% in a declining market and our concentration on improving operational processes in our core businesses is beginning to produce sustained profit improvement. The major restructuring exercise has produced a more profitable core business with fewer, better businesses, improved gearing and market share. Our strategy is to focus on premium and premium-volume franchises and we are now in a position to invest in new opportunities in these sectors.''
Highlights § Revenue up 6.4% to £201.5m § Underlying profit before tax up by 68% to £1.44m § Adjusted earnings per share up by 16% § New car market share increased § Used car unit sales up by 7.1% on a like for like basis § Aftersales resilient with turnover increasing by 4.9% on a like for like basis § Ratio of net bank borrowings to equity of 40% (2010: 47%) § Seven non-strategic operations successfully closed § Proposed final dividend of 7.0p per ordinary share (2010: 5.0p) making 12.0p in total for the year (2010: 10.0p)