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New Chairman must be chuffed. He is already 8k down on his first purchase and 2 days into the job!
God knows what's going on, it's one of the biggest drops for ages so I to have just topped up at 60p.
Just hope there's no bad news being released on Tuesday.
I know I'm going to regret it if I don't buy as much as I can of this.
Sitting at 3.3 Totally nuts. Ripe to be taken out....
going on with buys /sells. just look at all those buys and sells for 4 shares, more games by MM.
I don't know but marshalls are down 6-7%, pendragon down 1% as well so just something the city has been spooked about.
nothing to worry about med term, I hope. !!!!
As far as I can see TB hasn't moved much for a while, the latest holdings I can see is
Artemis with 10.15%
Aberforth Partners with 5.07%
T,Bramall ( Guernsey In vestments with 20.14%. So it's about time he bought more before making a full takeover at £1.20
then I would be happy.
Can't believe TB isn't thinking exactly the same thing and he has access to the money needed!
If I could raise £256m to buy this, I certainly would.
Why? Because I would be buying £330m of net assets, and the profit would pay for the purchase in just 3 years.
Completely insane...
Must be in the best position for years, Sales growing, profits growing, overheads being reduced and NO debt with cash in the bank.
Now how many companies can you say that about, wouldn't be at all surprised to see some takeover offer being made very soon if the sp stays around this level. Didn't Pendragon try to do a tie up or reversed bid for Lookers a few months back.
H1 trading exceptionally strong despite closure of the showrooms throughout Q1. Trading underpinned by robust consumer demand and an improved omni-channel customer proposition, resulting in ongoing outperformance of the UK new retail car market (+17.4ppts) and a market share of 6.7%. Excellent used unit growth (LFL +38.3%) combined with strong margins.
And the rest of the year looks very good. SP should be up to £1 by now.
· Revenue of £2,153.2m (2020: £1,570.6m) with all divisions showing growth versus last year.
· Record H1 with underlying profit before tax of £50.3m (2020: Underlying loss before tax £36.5m). Statutory profit before tax of £50.7m (2020: Statutory loss before tax £50.4m).
· Given the strong H1 performance and the Group's ongoing corporate responsibility agenda, the Board has voluntarily undertaken to repay all CJRS grants received for H1 (£4.1m) before the end of H2.
· Strong cash generation with net cash of £33.0m at 30 June 2021 (31 December 2020: Net Debt £40.7m) driven by strong trading performance, continued working capital control and cost discipline. Property portfolio equivalent to 77.8p per share (2020: 80.4p per share).
Online car retailer Cazoo reports £69m adjusted EBITDA loss in H1
28/09/2021 in Car Dealer News
Cazoo’s financial results for the first half of 2021 have revealed that the £5 billion-valued online car retailer delivered a £69m adjusted EBITDA loss in the period.
Reporting its results for a period which saw used cars appreciating in price at an unprecedented rate due to supply shortages, Cazoo revealed, although its revenues increased 521% to £248m as its gross margin rose 9ppts, it failed to achieve profitability in the period to June 30.
The news follows Cazoo’s reports of an £8m gross profit in UK during Q2 – reported ahead of its expansion into France and Germany – which had prompted many car retailers to question the online operator’s ability to break even amid high marketing costs and business acquisitions.
Despite its adjusted EBITDA loss, Cazoo grew its retail gross profit per unit reached £315
These figures are horrendous and their GP of £315 per unit sold is a disasterous result given the current stratospheric rise in used car values.
Majority of car buyers say they’ll support local dealers
29/09/2021 in Market Insight
Three quarters of car buyers say they are planning to purchase their next vehicle from a local dealer, according to a What Car? study.
A survey of almost 1,200 in market buyers found that 74% were planning to buy locally, while 84% said they believed it was important to support their local showrooms and garages.
More than a third (34%) of buyers told What Car? they would buy their next car from their local dealer even if one further away had the same model for a lower price. The same percentage of respondents were also willing to buy a different spec of vehicle than they initially intended if their local showroom had it in stock.
Steve Huntingford, editor of What Car?, said: “Our previous research has shown that most buyers research their next vehicle online, but there is clearly strong support for local dealers among in-market buyers when it comes to purchasing their next car.
“Convenience is always a reason why buyers prefer to buy local, but our research shows the same buyers also believe it’s important to support their local dealer and are even willing to wait longer or pay slightly more in order to do so.
“At a time when the industry is embracing online sales, this is a reminder of the role local dealers play for motorists, the loyalty this generates and the benefits of nurturing lasting relationships with customers.”
The research found 37% of in-market buyers are looking to purchase in the next four weeks, and 27% are set to buy within the next three months, confirming a steady stream of demand for dealers in the weeks and months ahead.
Despite a surge in lead times for some new models, 56% of in-market buyers told What Car? they would be willing to wait longer for a vehicle to arrive to a local dealer than buying it elsewhere sooner.
If you check out the P/E on a TTM basis Lookers is at 3 (I'm rounding), PDG is at 5, MMH is at 4 and VTU is at 12. The Sp performance of each on a 12 moths basis is pretty much inline with each other when rebased. So my conclusion is the market takes no account of forward earnings potential of any other than VTU. Not sure what the story is with VTU earnings, maybe a glitch in my numbers.
I think this has the possibility to double over the next 12 months although probably not until new car deliveries start to pick up.
I’m a fan of lookers, I know the business well but I don’t think this share will ever make £2
£1.20 is realistic upside IMO if manufacturers can resolve chip supply issue
Re Cazoo et al - I don’t buy any of the hype. I liken them to Trafficmaster way back(fantasy projections for vehicle sat nav), They could just do us a favour if they made a bid but a don’t see any long term threat.
Do some research and check out how Amazon got on with online vehicle retailing.
It's trading on a 2021 PE of less than 3.
A half sensible price would be 200p +.
But it isn't...
I think we all know / believe this should be much higher than this and maybe 75p by now, so is it just the chip shortage and the lack of new cars holding this down or what?
Even bigger bargain today. Filling my boots :)
Directors piling into shares.
Market cap far before NAV.
Cash pouring in.
Sub 3 P/E on 2021 forecast.
If not this, what?!
Real estate equivalent NAV PS 77p alone. Intrinsic value must be around 100p or so now. Dividends starting up again soon per RNS. Looks pretty good, glad to invested. (Can see the Directors are starting to load up again now, another good sign).
This company is going to make c. 23p per share this year, and yet it is still priced at just 69p per share.
How is this not completely insane?
New Chairman has purchased 180000 shares in past few days
Lookers PLC Director Shareholding
15/09/2021 4:16pm
UK Regulatory (RNS & others)
Lookers (LSE:LOOK)
Intraday Stock Chart
Wednesday 15 September 2021
Click Here for more Lookers Charts.
TIDMLOOK
RNS Number : 9095L
Lookers PLC
15 September 2021
15 September 2021
Lookers plc
("the Company")
Director Shareholding
Lookers plc announces that Ian Bull, incoming Non-Executive Chairman of the Company, purchased 80,000 ordinary shares in the Company on 15 September 2021 at a price of 68.9p per share. Ian Bull's appointment as Non-Executive Chairman will be effective from 1 October 2021, at which point he will be considered a PDMR.
Latest valuation at 109p at 10x FC 22 earnings
Nice gesture. Be glad to se the back of the current incumbent who has a lot to answer for imo.
Also looks like the whopper trade that went through earlier might have cleared the decks.