YCO's summary posted on ADVFN...5 May 2010 12:21
"Also a reminder for those that are not sure as to why YCO is the best stock on AIM atm...enjoy
- No debt
- Profit on the books, including £285k settlement coming their way
- Sales of several yachts last year, including Oasis at 75 million Euros, with a 10% brokerage fee as standard on the first 10million of a yacht's sale price (sliding to 5% on the next 10million, and 2.5% on the rest)
- £400k yacht fuel sales
- Oversubscription of Yacht leasing for this summer already - more money on its way
- Streamlined operations, cut costs
- Continuing to market very expensive vessels - the Y3K today, for example, having an open day in Monte Carlo; a cool 8.5million Euros
In other words...a pure profit organisation at the moment, with a whole heap of dough coming in. The company's NAV is going to be higher than it was at the 49p placing - question is just how much higher!
...is a sure sign that the results are looking good - after all, the buyer is the Finance Director; no one's going to have a better impression of the health of the business.
Regardless of when the results are announced, we KNOW that sales have been made, and that proceeds from those sales will translate into pure profit and not just get swallowed up in debt. After hitting the bottom, the SP has every reason to climb on the basis of this alone - but any necessary re-rating will be clear on results day when it is revealed just how much cash the company now holds.
In the meantime, YCO continues to trade, and continues to market very expensive boats - such as the Y3K and the Oasis
Have been pleased to finish accumulating at these low levels; and still looks like a fantastic bargain for anyone yet to join the party IMHO - confident we won't be here for much longer.
Naturally DYOR, but the facts are plain to see"
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