Member Info for Spac3y

So in a nutshell, what your saying is your brother is insider trading scholsey........ Furthermore, Id expect it to be a closed period for buying for Inch that would require sign off from someone on an upper level... Tsk Tsk lol

Redtag, absoloutely no offense taken, infact, all opinions always welcome much like yourself. I note people asking if this will hit 27-29p, Id like to say yes, however as I dont have a crystal ball and dont know what the results will be, that yes would be complete and utter *******s based on no foundation apart from looking into my crystal ball :) Given the range Inch has traded into in the last year, it is quite possible on favourable results that it could reach anywhere in the 25-30p range, but theyd have to be a very decent set of numbers with no hidden small print. By small print, if you digest PDG`s books, youll see a very nice VAT provision to the tune of £16m being released, if it wasnt for that VAT release, PDG would have had a set of negative numbers Gross and bottom line so as long as the numbers are decent and based on proper trading and not what us accountants like to call "slush fund releases" (lol) then Inch could do well. I still beleive inch wont pay a Divi, however, that is mearley based on my own opinion, and the fact that right now its all about strengthening the balance sheets. How many companies have cash called in the last 2 years ? Do they want to have to go and do it again any time soon ? I suspect not. On a positive, Inchs debt profile or lack of it, gives it a look in with the ii`s and funds, over a 5 year spell I beleive Inch will return very favourably, over the next year, working capital will be as big a focus as it has been for all the motor groups in the past 18months. Key areas for all players in 2010 are increased revenues from servicing departments, uplift in finance penetration and Finance commission/volume bonus per unit as margin will come under pressure this year. Margin has actually improved over most groups in 2009 from the 2008 low, however it is critical that Service Departments give a strong performance to help counter any decline in car sales and margin. Furthermore, whilist their is allways an opportunity to save on Headcount / Indirects, most of the heavy "culling" has been done, their will be some sites earmarked to be "moved on" or closed as is always the case (PDG have identified for example 10 site atleast to go in 2010), so their isnt quite the scope for cost saving reductions as in 2009. Further further further, it will also be interesting to see the cost savings from the 08/09 culls coming through onto bottom line, this will give a good indication of the success, or lack of , by management.

For a start, I dont know best. What I post is from my knowledge from the trade and also from what I know from speaking to others in other places in the trade. RagTag, I have no where said to anyone to sell INCH so lets just put that one to bed. Furthermore, I have also said INCH, interms of market, are far more global from anyone in the sector, PDG, VTU, you name it. With all this in mind, 2010 is a very differrent marketplace from 2008/2009 and will continue to pose a struggle, regardless of global market place for anyone in this sector. I note people looking for a divi from Inch, will Inch pay a Divi, IMHO no they wont. Given the global uncertainty and current market place, bolsterting of the balance sheet will be the order of the day. As always Im happy to be proved wrong, but Id like to see what sort of EBITDA results from inch would allow inch to pay a divi the current market place..... 2010 WORLDWIDE will prove to be a very challenging year for ALL motor groups, INCH,PDG et all. Guess we shall find out shortly :)

Very hard to tell right now where Inch will be on results day, what is worth bearing in mind however is that for every 1p onto Inch`s market cap, it adds some £46m. Mostly, its all about EBITDA, once we see current earnings then itll be a better gage for what Inch should/will be valued at. It will also give a comparative with PDG for the sector.

I think its current realisation of where the sector is. Many people were expecting PDG to come out with above expectations and quite frankly PDG`s results were quite a let down. Whilist INCH is a bit of a differrent beast, it looks very much like the market has priced said beast. 2010 offers a very tough year indeed for all of the motor groups, I certainly view PDG as a short now, if INCH`s results are as "above analysts expectations" as PDG`s were, then theirs potential for short positions on INCH. INCH certainly look like the number 1 in the sector, and it will be interesting to see the results, however, 2010 for motor groups appears to be a tough year, (scrappage exit stage has now started), the VAT increase from January and , as a whole, the market will be fairly static in general for the rest of the year.

Hope your well oldtimer. I have to say I was quite dissapointed with PDG`s results on tuesday. I feel now their is a short opportunity to sub 20p. I was expecting around 1/3 better results so was a tad dissapointed with where they ended up. Given 2010 is potentially a bad year for the motor industry, given scrappage is on its exit phase, In my opinion its now worth bypassing the whole sector.

I seem to remember someone told me I'd lose loads if I invested in here. They had experts, I just had FJP lol Was a Higher risk investment 6 months ago, coming into its own now :)

HB, did indeed have a very good christmas thankyou :) Interms of Northgate, I think their a very decently managed company and probably over a 2-3year period will return very well. Been a few months since I last checked them out, but I consider them a very nice mid term investment which doesnt require too much hair pulling ! 2010 outlook for the dealer groups thus far is showing 2 major areas where strength will be key to success. These business`s increasingly are relying on earnings from the aftersales operations, and given the pressure still on margin next year, F&I will be the other key area along with aftersales too either keep revenues consisitent or increase earnings potential. PDG by the looks of structuring certainly appear to be gearing themselves for a big aftersales / F&I push next year. With that said, they also have some substantial numbers that they will have to hit so they need to do well in both these key areas. If I remember correctly, something in the region of 43% of Vertu`s revenue comes from the aftersales ops so you can see just how big a dent that a push in the right direction will make to PDG`s bottom line. Increased penetration and ppu from finance will help to increase GPU interms of the car side of the business, supporting op`s I dont think youll see much movement in bottom line but I also beleive the parts side of the business will have the potential to have a decent impact on bottom line.

Hillbilly, hope you had a good christmas ! Laidback, indeed it wasnt barclays, however after apparently a 6hr drive to said conference, someone was feeling abit tired. The point of that postign was that 2010 by everyones own admission will be a tough tough year for all the motorgroups. One thing that has suprised me that no ones actually considered and was pointed out to me 2 months back, in the last 20 years, what has been the movement IN DECEMBER on PDG.... 15 or so of those last years has seen a significant drop in the price on PDG shares :) Doesnt mean their worth less, but historically theirs been a dip 3/4 of the time and a decent dip. Certainly plenty of upside from here to around 35p, I expect that the market expects somewhere in the region of 15-20m for full year, so we shall see how it plays out. Potentially, 2011 could see another vat rise, and it looks like goverment lobying of the scrappage scheme continuation isnt bearing fruit. I expect a strong end to the year for PDG, and like most other motor groups, this year should see a considerable underpinning on the balance sheet.

offtopic.... Neil I hear you pay your mortgage off next week because you couldn't be bothered to do share research and bought the exact same share your boss did and you made a **** load..... Lifes tough aint it :)

and Philip Bowman (from Smiths Group Plc) and Mark Huntley (I don’t know anything about). TC A Jon Moulton Worshipper. P.S - Neil, thanks for the heads up you **** lmao :)

Likes this share, and the board alot....Been asked to pass this on so here you are..... "http://www.advfn.com/p.php?pid=quote&symbol=L%5eBCAP&cb=1261223308 Website: http://www.bettercapital.gg/ (Guernsey Registered!) http://www.investegate.co.uk/Article.aspx?id=200912030700084905D http://www.thisislondon.co.uk/standard-business/article-23785116-funds-can-only-get-better-as-moultons-new-venture-floats.do For those not aware, Jon Moulton founded Alchemy Partners a private equity group, this was some time in the late 90’s. He left in September this year after a clash over strategy because he wanted to focus more specifically on distressed and financially needy companies where as other partners wanted old school investments. That’s my version of it not the PR spin or his. Anyway, roll forward 3 months and from what I have heard Jon was having serious amounts of cash thrown at him to do this and do that, for which I can only assume he declined. Preferring instead to create a company that wants to focus on distressed UK and Irish Business, where they can turn the company round by looking at the management (bad) and need for cash. I love the model. " "From what I have read, the company will limit investments so that all the eggs aren’t in one basket. I think the tiered investment ratios are no more than 20% of cash in any investment and no more than 10% is listed companies. BCAP has about £140M cash and is valued around £150M. It’s certainly one to watch, or even just keep an eye on who they are invested in if listed! I am a great believer in the people behind companies and Jon Moulton has showed confidence by investing £13M of his own cash in this. Other Directors had to commit to a collective minimum of £350K which if I’m correct is equivalent to one year’s combined salary for all of them. I have great faith in the company, yes the price could dip but my broker says that all the “initial” offering investors have signed a “no shorting clause”. So the company’s at a 6% premium to the current cash value, but with the brains of Jon behind the company, I don’t think it’s unreasonable to see £5 in 3 years, this is based on the Alchemy performance and only 25% of it, I opted for this figure as the 100% would mean a £20 a share….which I think would be unrealistic. Overall, someone who I have a lot of faith in and I would go as far to say, better than a savings bank in terms of safety and returns! You can’t get better than Jon Moulton, Mark Aldridge (accountancy supremo) and Nick Sanders (Company management and a damn good name) and that’s just the consultants and with the shrewd and avid Richard Crowder (Chairman and well known for shareholder value), Richard Battey (the man should have his own church, came from Schroders and is on the board at Juridica Capital Management Limited) and Ph

PDG make 50m next year Id be entirley suprised laid. Given the market place next year, ie, rise in vat, end of the scrappage scheme (although their is lobying going on currently to extend it), given finance houses once again going back to blue chip, used cars will be very tough next year. If PDG come in with 25-30m I think that would be more realistic. The leadership conference on Wednesday was apparently quite a hoot, with Mr Finn admitting that this time last year PDG were in the **** (and yes, apparently that was his exact words) When the barclays guest speaker was asked if he would recommend someone buying PDG shares, suprisingly, he said.... "No" Tough year next year, expectations need to be realistic Im afraid

If I put some clothes on, will you buy then :) lol

stick my neck out backscrather and say it wont fall below 40, but it might just see it. SLV does if you think about it seem strangely out of favour atm, I cant think of many other quite actually defensive stocks so oversold at this at this level, but yet, the volumes are very very low. However, are the volumes this low because the bulk of available shares are VERY VERY low ? The parity that once was between the ASX and LSE on SLV has now firmly shifted towards LSE and I dont beleive that their are many free shares available, I dont mean for free, but available to buy. Heres one thought Ive been thinking about, funds came in and bought at what mid 60s , mid 70`s, cant think Ive seen any RNS`s for decreases in holdings, mindu, or increases in holdings, suggests to me that no one one is pulling the trigger first..... However, these are just MY thoughts :)

The deal was pulled because it was to complex. Their were also big issues with the SA authorities and if you liek somewhat almost monopolistic views by them.

I know, but beleive it or not, when the deal was announced, I REALLY wasnt best pleased. I felt that once again, it was a sell of of the cheap variety. I was however fortunate in the position I had bought in at. I had originally looked at SLV in Feb when they were 24p, and I have to say absolutely zero grabbed me. On a reappraisal in May, and with the steelport news out or due, it suddenly became quite a viable proposition, so I bought in at 45p. Unfortunatly, the rukki deal was announced, what, mid June ? (cant remember) but that then delayed the production figures from SLV and importantly steelport till was it the end of July ? Unfortunatly again, the progress that had been made with regards to the PGM increase was lost in the market with the deal. I always had a £1.24 target for SLV alone short term with some reflection from their, never mind rukki, they however just delayed that target price by a 6 month + period if not more. I do however feel with the JLP deal now, it will increase revenues decently from the tailings going forward, but, as yet, I still need to work out a buy point. At this point I should just go, "multibagger", "this time next year Rodders", and in the tune of the song in mind, YAZZ, "The only way is Up"...... However, the price needs to consolidate first at this or in the 4`s before I buy back in,.......

It actually doesnt need great lengths....for the lazy you have google lol, for the more informed, well its second nature. Not that I use goodle. I much prefer scroogle :)

People dont really want facts or balance now, they just want UP UP UP lol. The balance is sadly missing in so many of the posts its unbeleivable. When you do try to offer a little balance, then your a deramper.....which I always love lol ! How are you anyway Searcher and your thoughts on SLV ? I had originally bought in at 50p but sold back out at a 8% loss as I beleived wed see 45p. Having not rebought in since, my thoughts are could we see 40p. I certainly aint going to call the bottom, my crystal ball is abit cloudy this evening :) However, is their support at the 45p level or will it fall an additional 10%. I firmly beleive that SLV is now hugely oversold, however until the next update or news itll probably bob about at these ranges until then. The Rukki call off was a bit of a ****er in the respect that had it not happened at all, SLV with steelport PGMS pretty much doubling would be looking at around £1 atm. I still remember the day the takeover was announced, the obscenities coming from my mouth shocked me :)

Problem is, you have no end of Proxy servers and free email accounts around the world, you will never eliminate dual accounts. I note the IP suggeestion someone made earlier, frankly its not workable. I dare say theirs some privacy law that prevents it, but further than that, your just going to "open season" for t`internet spammers. SJB42, its a shame really, I have all but stopped posting anything factual and of anyuse for anyone pretty much because of it, but then some say anything I posted wasnt any use anyway :)