Discover Leisure Share Discussion Threads

[mildred49] 15/10/2011 00:25

Topinfo and robandkerry should be ashamed of themselves :-

TOPINFO - 8 Jul'11 - 11:48 - 901 of 921


Be Greedy when others are fearful and be fearful when others are greedy!

Very undervalued given NAV/Assets. Vulnerable to takeover or Management buyout!




robandkerry - 13 Jul'11 - 12:43 - 904 of 921


More good news to help strengthen the recovery here.

TOPINFO - 13 Jul'11 - 19:22 - 905 of 921


rob-Its just a matter of time before this gets re-rated I think. Turning over £20 million a year with £1.4 million mkt cap and NAV around 4.5p per share, current share price under 1p. Nil brainer but just need some patience I think before others discover DISCOVER LEISURE, excuse the Pun!

[cufes2] 14/10/2011 20:25

Never nice to see people lose their jobs . . . hopefully some can be saved . . .

14 October 2011

DISCOVER LEISURE PLC

('Discover Leisure' or 'the Company')

Appointment of Administrators

Following this morning's announcement regarding the suspension of trading of the Company's ordinary shares, the board is now providing a further update.

As previously announced, the Company has faced challenging trading conditions and the board has been actively pursuing a number of options to raise additional capital. These options have included selling certain assets of the Company and securing alternative equity and debt financing from trade and financial parties. Prior to the Company's suspension of trading in its shares, negotiations were on-going with a number of parties and it was hopeful that sufficient additional funding or a business disposal would be completed. It has now, however, become clear that neither solution can be achieved within the foreseeable future. As a result, and, following discussions with the Company's lenders, unfortunately it also became clear that the Company was unable to continue trading as a going concern. Consequently, the Board has appointed Mark Granville Firman and Paul Andrew Flint of KPMG as administrators to the Company.

The Directors and management will be working with the administrators to try and ensure that the business is saved in part or as a whole and as many of its employees as possible maintain their jobs within the business.

[induna123] 14/10/2011 12:34

Another one bites the dust.

[niggle] 14/10/2011 09:16

No point blaming other people, there was some hope that the sales would improve the financial position but the UK is Fkd, look at ASOS. It was all over for DISL in January. End

[kinghorm23] 14/10/2011 08:35

moreforus - 14 Apr'11 - 10:45 - 856 of 917

market cap is 2.3 mill and NAV is 6.7 mill

ie 1.4p vs 4.1p

i;d say its cheap here

[kinghorm23] 14/10/2011 07:56

Steg.

Check them out on the Thal thread, totally shameless these two.

It never stops, time the FSA stepped in for bb conmen like these two.

[stegrego] 14/10/2011 07:54

Another pump and dump by Topinfo and moreforus.
Bust, what a shock.....

[niggle] 13/10/2011 11:00

I only lost £146 on my last trade of 205000 @ 1.875p last Jan, not been near since. pretty similar Ind.

[induna123] 13/10/2011 10:11

Had a lucky escape here. Checking my records back in January I bought 100k at 1.9p but quickly sold at 1.85p when I came to my senses! #

Reading the last RNS it sounds like these will go bust within six months.

[kinghorm23] 10/10/2011 10:32

Dont think topinfo will apologise for the hundreds of stocks he has pump
and dumped that crash after the event, as long as he makes £50 on them he
dont care, it's the mugs that chase on his postings that need their head
examined !

[jermaine77] 10/10/2011 08:19

shocking b.s.

TOPINFO - 13 Jul'11 - 19:59 - 123514 of 123583

humbugg hence why share price at historic low but its starting to turn around and its cleared debt with property sales leaving assets for basically nowt. Once DISL had a share price of over 30p. Its now under 1p.

The business and its name and assets worth well in excess of £1.5 million mkt cap IMHO. Not one for investors who dont like high risk, but with high risk comes big rewards if you get it right and I reckon there is no downside now at DISL, only upside. However If Im proved wrong I shall eat humble pie.

[cufes2] 10/10/2011 07:35

Oh dear, I did try and warn them but they didn't want to listen as usual . . .

CuFeS2 - 23 Apr'11 - 09:55 - 876 of 909 edit


I have never made a single post re SAR or SOLO . . . moreforuseless is posting lies and is part of a pump and dump ring on the CR thread who have helped create the spikes on the DISL chart . . .

Back to the matter in hand . . . DISL looks like a bit of a basket case ATM and quite possibly won't be around to benefit from any upturn in the market despite what Halfords and the Caravanning Club say IMHO . . . the balance sheet is weak with £10m of intangibles included in the net asset figure of £7m . . . potential further impairments make the balance sheet look weaker still . . . they are running out of assets to sell to reduce debt . . . margins have been "compressed" . . . the outlook statement says it all IMHO . . . obviously I would be interested to listen if anyone can put forward a cogent investment case . . .

CuFeS2 - 14 Jul'11 - 07:59 - 906 of 909 edit


For the record TOPLIAR was caught posting lies re DISL last night . . .

TOPINFO - 13 Jul'11 - 19:59 - 123514 of 123583

humbugg hence why share price at historic low but its starting to turn around and its cleared debt with property sales leaving assets for basically nowt. Once DISL had a share price of over 30p. Its now under 1p.

The business and its name and assets worth well in excess of £1.5 million mkt cap IMHO. Not one for investors who dont like high risk, but with high risk comes big rewards if you get it right and I reckon there is no downside now at DISL, only upside. However If Im proved wrong I shall eat humble pie.

CuFeS2 - 13 Jul'11 - 20:12 - 123518 of 123583 edit

To claim DISL has ". . . cleared debt with property sales leaving assets for basically nowt . . ." is complete rubbish . . . even a cursory glance at the balance sheet will prove this is untrue . . . hence the qualification in the accounts . . .

-- Although the Directors are satisfied that the Group and Company has the ability to continue to trade within its current financing arrangements, they recognise that the current economic environment presents significant challenges. As explained in Note 1, the Directors recognise that future trading performance in the current economic environment is difficult to forecast with certainty and a period of underperformance against forecast would have a significant effect on cash flows and would adversely impact on the Group's ability to operate within existing facilities and the terms of the CVA.

[twiggy2] 08/9/2011 14:30

Volume picking up today. Decided to add a few more.

[cufes2] 27/8/2011 11:18

Industry news . . .



Bumpy ride ahead as economy hits caravan jobs

THOUSANDS of caravan workers are facing tough times ahead as fears grow that the industry is heading for another downturn.

Around 6,000 people are currently employed at caravan manufacturing firms across East Yorkshire.

Between 15,000 and 20,000 are understood to have jobs related to the industry – which is one of the biggest in the region.

This week, the UK's biggest firm, Swift Caravans, announced up to 90 redundancies, although the company said it was "hoping it won't nearly be that many".

Bosses at other firms have also said sales are dropping as the UK economy stagnates and are predicting a difficult six months.

Swift, which employs around 900 staff at its newly-expanded factory, is slowing down caravan manufacture between now and the start of next year.

Nick Page, commercial director at the company, said problems in the global economy were having a knock-on effect in the UK.

He said: "We all took three weeks off for our factory shut-down from the end of July.

"During that time, the stock market collapsed, the Euro Zone went into panic and we had the riots.

"We have come back, and although sales are okay, the dealer network we build caravans for have told us that the next three months are going to be very difficult.

"The economy is starting to tighten up and their mood is somewhat pessimistic.

"What we can't afford to do is build caravans that just sit at the factory over the winter so it is prudent for us to slow production."

The East Yorkshire caravan-making industry was badly hit by the recession with more than 1,500 jobs being lost in just six months between 2008 and 2009.

There was then a period of recovery with many firms increasing production to keep pace with demand.

Swift laid off more than 300 workers in the autumn of 2008, but, following an increase in sales, the company re-hired 200 staff last year.

Mr Page said: "We have had two really strong years.

"Now, the sales our dealers are making are okay but they are under pressure."

Other caravan manufacturers agree sales are not as healthy as they would like.

Peter Nevitt is managing director of Victory Leisure Homes, which was set up in 2009 and employs 74 staff.

He said: "The market is slowing down, everybody has got to watch the pennies.

"We haven't get any staff to shed because we started up in a recession and we've kept a tight ship.

"I wouldn't like to think it will be going back to 2007 when industry seemed to end in Hull.

"I think there will be an indication of what order patterns are going to be like at the big trade show at The Lawns next weekend.

"Nobody can afford to fund caravans being built to then sit in storage.

"We're, without doubt, heading for a double dip recession. I think we will see it this winter."

Figures from the National Caravan Council showed sales of caravan holiday homes in the 12 months to June 30 had fallen to 16,300 this year, compared with 17,000 last year.

Gary Cooper, who owns Normandy Holiday Homes, based in Bontoft Avenue, said: "There's an acknowledgement the UK sales are below where we would expect them to be.

"With the general economic background looking unstable as we go into next year, there don't seem to be any really encouraging signs.

"All the manufacturers are preparing for the caravan show at The Lawns at the moment and that should be a good indication of the appetite to do business in the industry."

Adrian Pattern, commercial director for Discover Leisure Plc, which is headquartered in North Newbald, said: "We are sorry to hear about the job losses at Swift and sympathise with all those affected.

"The market continues to be extremely tough and competitive, particularly on new caravans."

Mr Page made it clear Swift was doing all it could to keep the job cuts to a minimum.

He said he hoped the final number of redundancies would amount to about 50 but was unable to give any definite figure at this stage.

The company has entered a 30-day consultation period and is looking for voluntary redundancies.

He said: "Legally, we had to give notice of a possible 90 redundancies but we don't think we will make anywhere near 90 people redundant.

"We have another 800 employees at Swift and we have a duty of care to protect them. By doing this, it puts us in a stronger position for what could be a difficult few months."

[robandkerry] 14/7/2011 08:29

Thanks for the bump CuFeS2. ;-)

[cufes2] 14/7/2011 07:59

For the record TOPLIAR was caught posting lies re DISL last night . . .

TOPINFO - 13 Jul'11 - 19:59 - 123514 of 123583

humbugg hence why share price at historic low but its starting to turn around and its cleared debt with property sales leaving assets for basically nowt. Once DISL had a share price of over 30p. Its now under 1p.

The business and its name and assets worth well in excess of £1.5 million mkt cap IMHO. Not one for investors who dont like high risk, but with high risk comes big rewards if you get it right and I reckon there is no downside now at DISL, only upside. However If Im proved wrong I shall eat humble pie.

CuFeS2 - 13 Jul'11 - 20:12 - 123518 of 123583 edit

To claim DISL has ". . . cleared debt with property sales leaving assets for basically nowt . . ." is complete rubbish . . . even a cursory glance at the balance sheet will prove this is untrue . . . hence the qualification in the accounts . . .

-- Although the Directors are satisfied that the Group and Company has the ability to continue to trade within its current financing arrangements, they recognise that the current economic environment presents significant challenges. As explained in Note 1, the Directors recognise that future trading performance in the current economic environment is difficult to forecast with certainty and a period of underperformance against forecast would have a significant effect on cash flows and would adversely impact on the Group's ability to operate within existing facilities and the terms of the CVA.

[topinfo] 13/7/2011 19:22

rob-Its just a matter of time before this gets re-rated I think. Turning over £20 million a year with £1.4 million mkt cap and NAV around 4.5p per share, current share price under 1p. Nil brainer but just need some patience I think before others discover DISCOVER LEISURE, excuse the Pun!

[robandkerry] 13/7/2011 12:43

More good news to help strengthen the recovery here.

[cufes2] 08/7/2011 11:49

robandkerry

Most companies are priced to go bust for a reason IMHO . . . obviously some recover and I hope this comes good for you . . .

PS DISL has been "promoted" a few times on the CR penny punt thread so watch out for the spikes . . . edit . . . see above . . .

[topinfo] 08/7/2011 11:48

Be Greedy when others are fearful and be fearful when others are greedy!

Very undervalued given NAV/Assets. Vulnerable to takeover or Management buyout!

[robandkerry] 08/7/2011 11:42

CuFeS2. Take a look at the MKT cap, its priced to go bust and has been for a while. I admit i would not put my shirt on this, but as a risk reward play its worth it imo. Downside you lose a few k, upside you make 20k, thats a risk im prepared to take.

[naiad] 08/7/2011 11:39

Any recovery company will have this sort of doom and gloom in its public pronouncements and almost every working capital bank facility I have ever seen has been repayable on demand. The real issue is whether or not the business has returned to profitability and is beginning to generate positive operating cash flow. If not can it and when will it. The interims showed a somewhat alarming dip in margins and if the administrative costs have not been reduced further it seems unlikely it will produce a full year surplus. But they have been trying to on sell other service related products and insurance to customers and these may carry higher margins. All too foggy to see and not the time to get over-excited about this one. Having said that a profit of a mere £300,000 would give a possible value of £3 million or about 2p per share. Oh yes - and the real value of carried balance sheet assets is entirely suspect - so don't rely on the apparent underlying asset value to prop up an investment decision. It remains a high risk recovery play.