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I would not be surprised if private equity have a look at this. Buy it, sale and leaseback of property and watch the cash roll in on almost nil outlay.
I was hoping that the announcement of the return of dividends, having already repaid all government covid support would have encourged ii investment - i suppose that could happen over next few days but disappointed with sp so far.
If you don't buy this share, you have to seriously ask why you would buy any share.
And remember, they say they are going to exceed a profit of £82m, not just achieve it.
Yes great result as expected.
bj, agree = sp should be over £1 imv - we shall see.
£82million profit. 390 million shares. Is profit not over20p/share? P/E about 3.4 based on yesterday’s closing price of 70p?
FT are correct , generated cash of over 12p per share this year, p/e looks to be about 3 or 4 and assets exceed sp by some margin. Expecting a significant sp rise here today and beyond.
https://www.ft.com/content/99a3e964-ef97-49f8-a574-2f49e63a9245
Would be good to see some sort of pre close trading update. But that would mean being proactive with the market, so thats out.
Quite a big day for Lookers. Price actually closed over a 5-year downtrend. https://www.tradingview.com/x/nwsl4eTQ/
It's got a long way to stir. I just checked 1 yr SP performance, LOOK up 65%, similar to PDG. VTU up 127% and MMH up 196%
So the valuation gap is enormous. Let's see if the new Chairman can close it.
Finally - the cheapest share on the market is beginning to stir...
Apologies - press-style correction of source organisation name, not my usual breakfast reading :-) Posting below.
Output in consumer-facing services grew by 0.3% on the month mainly because of an 8.1% increase in the wholesale and retail trade and repair of motor vehicles and motorcycles sector, while all other services rose by 0.4%.
("Main points - paragraph 3)
Full release
https://production.onsdigital.co.uk/economy/grossdomesticproductgdp/bulletins/gdpmonthlyestimateuk/october2021
Refreshing to see someone come and admit to being wrong rather than let it fester. Top marks for putting your hands up. Maybe politicians could learn something here :-)
Apologies. My chart below is wrong. I had to redraw it. Price is testing the 5-year downtrend with LOOKERS. If price can test & break there is room above for price to head back north to 100p plus. https://www.tradingview.com/x/355rjOEN/
Looking at the charts, I think this stock is heading to 100p plus soon. Price recently broke out of a macro 5-year downtrend. Price is now trending up. My chart idea links are here. https://www.tradingview.com/x/jJcQoY77/ https://www.tradingview.com/x/ov2ETRoF/
Together with near certain dividend reintroduction at upcoming finals. Expect that was Directors getting purchases in before closed period earlier this week. £428k trade just cleared through the book and price now beginning to react accordingly.
Far above NAV 80pps.
And less than 3x 2021 profit.
Recent updates and trends from Vertu and Pendragon are very positive, I think the inventory challenges are easing steadily. With the free holds and profitability now returning must be north of 80p NAVPS. Very vulnerable to a takeover if a re rating doesn’t happen soon (Tick all of Buffets reasons to buy a share right now). I’m very optimistic and looking forward to our next update.
I just don't see any reason why the tailwinds that are helping every other player in the sector won't also be helping Lookers and therefore expect to see a profit upgrade here very soon. PDG's share price is up 18% since it announced an upgrade on December 1st and Lookers share price arguably has more catching up to do...
Andy Brough mentions Lookers #LOOK in the latest PIWORLD interview at 8m17s
Watch the video here: https://www.piworld.co.uk/education-videos/piworld-interview-with-andy-brough-markets-lessons-learned-in-2021/
Or listen to the Podcast here: https://piworld.podbean.com/e/piworld-interview-with-andy-brough-markets-lessons-learned-in-2021/
Any ideas why our sp is struggling in the face of good news from the whole sector?
Another great update from VTU, its not difficult to understand why it's valued higher. Open and communicative management at VTU whereas here radio silence. Hello Lookers. Anyone awake?
VTU now £20 million higher value than Lookers. Come on BOD, get your fingers out!!