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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| All Leisure | ALLG | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 1.75 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 1.75 | 1.75 |
| Top Posts |
|---|
Posted at 05/1/2017 21:01 by jbfnfn diku,I think you a right. Roger Allard was part of the group who loaned ALLG the money to buy Page and Moy. From the Preliminary results for the year ended 31 October 2015: ...On 15 May 2012, All Leisure Group PLC acquired 100% of the issued share capital of Page & Moy Travel Group Limited (“PMTGL” So whatever is outstanding on that loan will have to be repaid by the administrators if the funds are available as well as all the other liabilities before anything goes to shareholders. I'm not hopeful but I could be wrong. |
Posted at 16/5/2016 12:44 by troutisout Look at Tara go...ramping master and winner...even mentioned TERN that he sold out of early last year and missed the rise he now tries to attribute to himself.Tara has had a shocking 18 months now, with everything he touches going downhill, missing out by selling stocks that then rise and not being able to manipulate and pump many investors into his picks as he has become a spent force in the pump and dump world. Time we delisted Tara aka wood fire aka TEN BAG MAN. |
Posted at 13/5/2016 19:46 by ten bag man If you want to see what a share can do (when others dismiss it)check out today's TERN share price and what it's done in under two years.HEADER POST ON ADVFN TERN started the week of 15th SEP 2014 with a valuation of just £180,000 Also known as market cap it is all the shares in issue times the share price. The same week TERN bought a company with world beating software. I hope to show investors that one way to make super profits from the stock market is to invest in situations just like this. |
Posted at 03/3/2016 14:57 by wood fire So many in just under 3 weeks (when I started the thread ) investors have seen its value leap from £1M to £3.4M. |
Posted at 15/2/2016 17:44 by bozzy_s One or two other things to consider, beyond the potential AIM delisting (not necessarily a disaster for shareholders, given the share price performance on AIM), and today's profitable results.On the face of it a good risk/reward ratio, especially if they look to list on a different market in a few years. Biggest risk is they are insolvent. Net current liabilities of £31m. However it seems they have often been in that position and still managed to survive. It would take a brave investor to buy before they delist. Best make it a tiny proportion of one's portfolio and mentally write it off to zero. May be in for a nice OCZ type surprise later (announced delist from AIM when 5p, rallied on final day's trading to 10p, relisted on NASDAQ couple of years later and went above 500p before going bust). |
Posted at 24/2/2014 14:10 by canteatvalue Ok so, here's how I see it:P&M profit: £4.1m Cruising losses: £-1.9m Corporate central costs: £-1.4m Restructuring costs: £1.5m + £0.6m = £2.1m mv Discovery annual loss rate: £4.0m mv Voyager trouble costs: £1.6m I assume all derivative contract P&L nets off in the long term vs currency gains/losses. Hence I make normalised operating profit to be: £8.5m Market Cap: £26m That said it does seem to be one different problem after another, and I don't really understand why Discovery's results are so terrible compared to the rest of the cruising business. Cruising is no where near pre-2007 margins of ~11%. If we can just have one year without any big hiccups...! A good investor friend I respect a lot, Paul Scott, is very negative on the balance sheet with this to say in his daily blog: "In line with its nautical theme, I'm going to award it my bargepole status - on account of the terrible Balance Sheet, which shows current assets of £14.3m, yet current liabilities of £63.2m! That's one of the worst working capital positions I've ever seen. There are another £10.5m of long term creditors. Fixed assets of £39.6m represent mainly old, small cruise ships that are prone to fairly major mechanical breakdowns with depressing regularity, which has caused a hefty loss for the year ended 31 Oct 2013, reported today. The creditors are I believe up-front payments by customers for future cruises, which appear as a deferred income creditor. The cash has all been spent by All Leisure long before the cruise actually happens. It amazes me that it's legal to operate like this, but many travel firms, airlines, etc, do the same thing - financing the entire business on up-front payments by customers. With unreliable old ships, it's only a matter of time before there is some catastrophic breakdown, and no income can be generated, and the whole group goes bust. In my opinion. There are no dividends for the foreseeable future either. Hence the shares have to be seen as extremely high risk in my view." My main point of contention here is that, as he rightly points out, many firms finance their business this way using customer upfront payments - I don't believe it's as unsustainable a situation as he believes it to be, it depends heavily on the business model of the company in question as to whether it could lead to a liquidity crisis. That being said, it does increase the risk profile here, and as the current asset situation deteriorates (which it has) it decreases the margin of safety for the business to ride out the (frequent!) future trading problems. |
Posted at 16/5/2012 13:25 by masurenguy Page and Moy bought by All Leisure GroupAll Leisure Group has acquired the escorted tours specialist Page & Moy Travel Group for £4.2m. AIM-listed All Leisure owns tour operators Voyages of Discovery, Swan Hellenic, Hebridean Island Cruises and Discover Egypt. The acquisition will be funded with a £5.8 million loan from a consortium of individual investors. Travel Weekly understands Acromas Holdings, the owner of Saga and Titan Travel, had also been in the running to buy the company but the All Leisure deal was secured last night. The Page & Moy Travel Group, which incorporates the Travelsphere, Page & Moy and Just You brands, carries around 100,000 customers each year and is expected to make around £2m profit this year. All Leisure Group said the acquisition was "wholly aligned with its strategy and has excellent commercial rationale". Roger Allard, All Leisure Group executive chairman, said: "This acquisition is an excellent fit and will ensure that the enlarged All Leisure group is better placed to meet the on-going challenges facing the travel industry which are the toughest ever seen. There will be some brand and overhead rationalisation required to deliver the necessary synergies over the next few years. Furthermore, the enlarged database, with a potential reach of up to 4 million households in the over 55s age group, will benefit all brands across the enlarged group." The company announced in December that the Page & Moy tour operator brand would be phased out this year and cease to exist from 2013. The company was rebranded to Page & Moy Travel Group in 2010 from Kaleidoscope Travel Group ahead of the Page & Moy brand marking its 50 year anniversary. The company said the decision formed part of a four-year strategy to make Page & Moy Travel Group profitable. Chief executive Ian Smith said at the time: "We believe it is important for our business to focus single-mindedly on one brand for the escorted sector and one brand for the escorted single traveller." Former Lunn Poly boss Smith replaced William Burton, himself a former executive of Thomson, which owned Lunn Poly, in June 2011 took over at the helm of the firm which employs 300 people based in Market Harborough. Private equity firm Electra Partners Europe bought the Travelsphere Group, as Page & Moy was known then, from venture capital firm HgCapital in 2006 in a deal worth around £180 million. The main shareholders in the business were understood to be two banks, HSBC and Credit Agricole. |
Posted at 16/5/2012 13:11 by masurenguy An interesting acquisition ! Some good potential cross-selling synergies for marketing both cruises and other holidays to the 55+ market sector. Looks like they will start competing with Saga Holidays now !Interesting to see that the acquisition valuation is more or less equivalent to the Page & Moys fixed assets which include freehold property whose value accounts for 85% of the total consideration payable. Directors are providing £5m, of a £5.8m loan, to both fund the acquisition and cover other associated costs which is repayable over 5 years. There are clearly risks involved here but the directors are confident enough to personally finance the acquisition and this could be a transformational deal for the company. ____________________ RNS Number : 4512D All Leisure Group PLC 16 May 2012 All Leisure Group PLC announces acquisition of Page & Moy Travel Group Ltd All Leisure group PLC ("All Leisure", the "Company" or the "Group") is pleased to announce that it has reached an agreement with the shareholders of Page & Moy Travel Group Limited ("Page & Moy Travel Group") to acquire, on a debt free basis, 100% of the share capital of Page & Moy Travel Group (the "Acquisition"). The consideration will be a total of £4.2m, before deduction of Page & Moy Travel Group's transaction costs, payable in cash (the "Acquisition"). The consideration will be funded with a £5.8m loan (the "Loan") from a consortium of individual investors (the "Consortium"). Summary information on the Acquisition Page & Moy Travel Group, a leading tour operator offering holidays to a wide range of overseas destinations, has been offering a broad range of holidays, including touring holidays, city breaks, river and ocean cruises, safaris and classic rail journeys to the over-55s for more than 50 years. It currently trades under 3 brands, Travelsphere, Page & Moy and Just You, selling predominantly directly to its passengers from its dedicated call centre in Market Harborough. In the year to 30 November 2011 the group carried c. 88,000 passengers across its three brands. Background to and reasons for the Acquisition All Leisure has a consistent strategy which is to achieve growth by exploiting the increasing demand for destination-led cruise holidays and by providing an increasing choice of other niche holiday products into the over-55 English speaking market. The Directors believe that the Group's chosen niche markets have a number of fundamental attractions: · Significant barriers to entry. The Directors believe that a growing focus by regulators on safety and consumer protection is raising the barriers to entry for those wishing to enter the Group's markets. This is benefiting established brands with strong balance sheets. · High levels of repeat business. The Group enjoys significant repeat passenger business, underlining the benefits of customer loyalty. In realising this strategy, organic growth opportunities will be complemented by strategic acquisitions, reinforcing existing positions as well as increasing All Leisure's exposure to new and attractive markets. Rationale for the Acquisition The Board believes that the acquisition of Page & Moy Travel Group is wholly aligned with this strategy and has excellent commercial rationale, as it both reinforces the Group's existing positions, offering holidays to customers in the same age profile, and increases All Leisure's exposure to new markets. The advantages of this transaction include, but are not limited to: - Page & Moy Travel Group has a large UK customer database which is compatible with All Leisure's. The enlarged group will have access to a list of nearly 4m households (mainly 55 and over) and this is expected to lower the cost of customer acquisition - Opportunities for greater cross selling across brands, particularly to fill All Leisure's expanded cruise programme - Reducing dependency on the cruise market, and introducing more balanced global destinations such as China and North America - Providing numerous synergies across the two businesses - Strong use of scheduled flights will reduce transport costs for fly cruises - Majority of enlarged business will be direct and with both All Leisure and Page & Moy Travel Group having high level of repeat business. - Significant trading losses historically which should result in future corporation tax savings. Financial information on the Acquisition In the year to 30 November 2011, Page & Moy Travel Group's revenue was £107.6m an operating loss of £5.6m and, following the one-off impairment in full of the company's goodwill of £35.6m, a loss before tax of £45.1 million. The financial statements for the year ended 30 November 2011 were signed on completion of the deal and will be filed at Companies House within the statutory time limits. As at 30 November 2011, Page & Moy Travel Group had fixed assets of £4.4m, including freehold property valued at £3.6m, and net current assets of £3.1m. Effect on All Leisure Page & Moy Travel Group has a good new management team and is targeting a return to profitability in its current financial year. All Leisure will be working closely with them to implement an integration plan over the coming months. The Company expects to incur significant costs this year and next year to obtain the synergies that it is seeking as a result of the Acquisition and subsequent integration. All Leisure will fund the consideration with the Loan, which will be repayable over 5 years. Given this outstanding debt and integration costs, the Directors believe that a dividend is unlikely to be paid by the Company in the foreseeable future as it will be concentrating on maximising profits and shareholder value in the medium to long term. The directors of the Group anticipate that the Acquisition will be earnings enhancing in the first full financial year following acquisition. This statement regarding earnings enhancement is not a profit forecast and should not be interpreted to mean that All Leisure's earnings per share will necessarily match or exceed the historical earnings of All Leisure or Page & Moy Travel Group. Principal terms of the Acquisition The Company will acquire the entire shareholding of Page & Moy Travel Group, for a consideration of £4.2m, payable immediately on completion and which will be funded by the Loan. The existing bank debt of Page & Moy Travel Group will be capitalised prior to completion, such that Page & Moy Travel Group will be acquired on a debt free basis. Principal terms of the Loan The Loan of £5.8m is being provided by the Consortium, the members of which include, but are not limited to, Roger Allard, Executive Chairman of the Company, and his interests; Nigel Jenkins, Non-Executive Director of the Company; and David Wiles, Director of All Leisure Holidays Ltd, a subsidiary of the Company, and his interests. As such, the Loan constitutes a related party transaction pursuant to Rule 13 of the AIM Rules for Companies. The directors of All Leisure excluding Roger Allard and Nigel Jenkins, having consulted with the Company's nominated adviser, Panmure Gordon (UK) Limited, consider that the terms of the Loan are fair and reasonable insofar as the Company's shareholders are concerned. The interests of each of the related parties are set out below: Roger Allard: £4.400m Nigel Jenkins: £0.250m David Wiles: £0.400m The key terms of the Loan are as follows: (i) Interest at 7.0% per annum; (ii) Repayment of principal of 10% per annum to be paid annually, on 15th May, for the first four years with the balance to be repaid (comprising the 10% annual payment and 50% remaining) on 15 May 2017 (iii) The mv. Alexander von Humboldt will be used as security for the loan, with security being limited to any principal outstanding plus accrued interest. b>Current trading and outlook All Leisure provided a trading announcement following its annual general meeting on 11 April 2012 and the ocean cruise market remains challenging. Page & Moy Travel Group has experienced challenging trading conditions in recent years and this has continued into 2012. It has undergone various restructurings in order to improve its financial performance, including exiting unprofitable tours, and its management is targeting a return to profitability in its current financial year. An updated trading outlook for the enlarged Group will be provided in due course. The Board believes that the enlarged group will occupy a strong position in its chosen markets and is well placed despite the difficult economic environment. Roger Allard, Group Executive Chairman said "We are delighted to bring Page & Moy Travel Group, which includes their Travelsphere and Just You brands, into the All Leisure group. This Acquisition is an excellent fit and will ensure that the enlarged All Leisure group is better placed to meet the on-going challenges facing the travel industry which are the toughest ever seen. There will be some brand and overhead rationalisation required to deliver the necessary synergies over the next few years. Furthermore, the enlarged database, with a potential reach of up to 4m households in the over 55s age group, will benefit all brands across the enlarged Group." |
Posted at 09/5/2012 19:18 by masurenguy Well someone has been accumulating over the past few days just as we suspected ! Swiss based Argos Investment Managers (AIM) has just acquired a notafiable 3.1% interest in All Leisure.AIM specializes in "smaller European companies that trade at a substantial discount to both their intrinsic value or to their long term profit potential. The small cap team is one of the most experienced in its field and operates in one of the least researched part of the European markets. This dedication to investing "under the radar screens" and to a very research-intensive process has produced very credible results over the past 8 years. The Argos Argonaut Fund is one of the few funds investing exclusively in micro capitalisation stocks, concentrating on the lowest tiers of European stocks. The Argos Family Enterprise fund uses the same investment philosophy and process but only invests in companies with a substantial shareholder that is a family. This additional filter has shown to produce strong results over the long term but is as yet widely ignored by most investors." RNS Number : 0250D All Leisure Group PLC 09 May 2012 NOTIFICATION OF MAJOR INTEREST IN SHARES The company received a notification today from Argos Investment Managers S.A. informing it that they hold 1,897,500 shares representing 3.07% of the voting rights of the Company that current stands at 61,744,777 shares. No Treasury shares are held by the Company. |
Posted at 12/4/2012 10:24 by masurenguy Here is the report in todays issue of The Times.All Leisure directors waive their dividend Directors of the cruise company that operates the Hebridean Princess have opted to waive their rights to the final dividend on the back of increasingly stormy trading conditions. All Leisure Group, which was awarded a royal warrant recently, said that although ordinary shareholders would receive the 1.3p payout declared in January, the five directors had agreed unanimously to forgo it. The board, which speaks for about 74% of the shares, is waiving its right to payments totalling almost £600,000. Roger Allard, the executive chairman, who has a 60% stake, is giving up a payment of about £486,000. Mr Allard told investors at the annual meeting yesterday that the directors had taken the decision because trading was proving "considerably more challenging this year than envisaged". The former First Choice Holidays managing director said that, although the group had performed reasonably well during the winter, its Discover Egypt brand was experiencing a slow recovery from the Arab Spring and the capsize of the Costa Concordia off Italy had caused ripples across the cruise market. He said that fallout from the tragedy in January had been compounded by "the unprecedented headwinds of natural disasters, geopolitical events, worsening economic conditions, low interest rates, increasing oil prices and crisis in the eurozone". He admitted that the sharp slowdown in sales had been reversed only through "significant discounting" but insisted that the trading update was not a profit warning. "It's too early to say that," he said. Since its final results in January, All Leisure has reintroduced two of its three vessels - the Hebridean Princess and the Minerva - after winter dry-dock periods, although the extended period spent by the Minerva to undergo a 14m (£11.5m) upgrade means that pre-tax profits this year will fall from £2.6m to about £1m. Mr Allard said that, to counter the impact of discounting on margins, the board had launched a full review of its cost base. He played down the likelihood of job losses, adding: "As Lord King once said: 'Overheads are like the grass growing under your feet. Now and again you have to get the mower out to give it a trim.'" All Leisure shares, floated at 180p in 2007, fell by 3½p to close at 31p. |
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