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Aga Rangemaster Share Chat - AGA

Share Name Share Symbol Market Type Share ISIN Share Description
Aga Rangemaster LSE:AGA London Ordinary Share GB00B2QMX606 ORD 46 7/8P
  Price Change Price Change % Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -4.25 -3.62% 113.00 113.00 114.00 118.75 113.00 118.75 226,253 16:29:54
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Household Goods & Home Construction 261.1 0.7 0.1 1,130.0 78.27

AGA Rangemaster Bulletin Board

Just topped up some more on the slight dip, brokers looking for 125p, 165p and 200p, plus IC this week also tipping again (Hopefully not the sign of a plummet!), there must be some upside here.
by daveb12 on A good solid hold
Bowl & nipple on the weekly Http://tinyurl.com/AGA-Rangemaster Http://www.barchart.com/snapopinion/stocks/AGA.LS EDIT - consensus 163p (I calc 189p ie ahead) - fwd pegs 0.1, 0.3 - about as good as it gets
by luckymouse on A good solid hold
Nice little article Http://www.kandbnews.co.uk/newsandviews/industrynews/agarangemastertosellfiredearth#.VVXbn2fJA48 "Market conditions suggest 2015 will be a better year for the appliance segment and we are working to 'configure the business best' to take the opportunities that arise” Nice little tweet Https://twitter.com/agarangemaster
by luckymouse on A good solid hold
Looks a good solid hold and expecting to rise
by esavroth1 on A good solid hold
I'm sorry, but I did not want to push my luck on the generosity with which the directors were willing to spend time with me so I concentrated on the two issues I thought most germane. I would like to be corrected here, but I think that the China business is a nice experiment that the company does with small amounts of capital. Nice if it works, but does not break the firm if it does not. Does anyone have some evidence - I'm working with little data on China. The China venture does provide yet another indicator of the psychological state of the senior managers. They are not heads-down-concentrate-on-survival mode. They are up-beat-lets-go-out-and-conquer mode. They are very positive. Very proud of the tradition of UK quality manufacturing. This is their time. They have been through the hard times, now lets go. Glen
by profdoc on A good solid hold
Profdoc, Did you ask them about China and their move into that market and whether they have brought in any products from Vatti, their partner in China?
by trigger blade on A good solid hold
Some well thought out contributions on this thread. I have been a buyer following the AGM Statement.Surely the market capitalisation is too low for the various brand names . Rothschild should be able to unlock this fairly readily.
by look alive on A good solid hold
The business obviously has a future. Surely, more true to say that the foundry is set to secure the future of the pension fund. All IMHO.
by shanklin on A good solid hold
Aga fires up with £4.5 million investment at Telford plant A multi-million pound investment in Aga's Telford foundry is set to secure the future of the historic site. Someone has confidence in the future.....
by wad collector on A good solid hold
Previous owner, Glynwed or whatever, completely screwed this co. by saddling it with an enormous pension liability, makes you wonder how it has become such an elephant, were the staff retiring at forty or something, the deficit and scheme are completely out of control withy these low gilt yields, even without them it would be the same!
by bookbroker on A good solid hold
AGA - more ramps than Evel Knievel
by roddyb on A good solid hold
I looked at this one a while back but struggled to see the investment case. Holders just be aware that as it stands AGA will be relegated out of the FTSE small cap index in June.
by salpara111 on A good solid hold
Thanks to all recent posts in particular profdoc and Alphahunter - I was visiting as been on watch list for ages after my broker suggested buying much higher. However given a significanty probability of a Labour/Scot-Nat coalition, Mansion Tax, Non Dom status abolition and increased higher rate taxes AGA is my hot tip for a major loser as a result of the election. If by a remote chance (less than say 35% unfortunately imo) we get a business and economy friendly parliament then AGA will be near the top of a possible buy list (All imo etc) Pensions agreed a major problem and why I have stayed on the side until now.
by pugugly on A good solid hold
Back in with a tentative buy. I think it has fallen too far since December and I hope it has reached bottom. But it may be a quick in and out. Lets see what the future holds.
by darias on A good solid hold
I'm worried that the next triennial valuation is due soon and the funding deficit will be significantly bigger (not a surprise) but I suspect that the payment plan into the pension will be increased .i.e. analysts forecasts of 14.2p and 17.8p are looking way too high. I'm tempted to sell until the next lot of news comes along (IMS beginning of May? 1/2 yr report/ pension update August?). Thoughts?
by leonmoon on A good solid hold
Thanks Alphahunter, Glen
by profdoc on A good solid hold
Profdoc, 3Y turnaround plan at Grange: http://www.tribunedelyon.fr/?actualite%2Feconomie%2F41788-les-nouveaux-defis-des-meubles-grange
by alphahunter on A good solid hold
Alphahunter, Thank you. Some very useful points. Fingers crossed on Grange. It would only take a 10% lift to sales to reach breakeven - feasible. Fired Earth is now profitable so there are some people out there who do not have our value-investing, bargain-hunting, penny-pinching approach. More fool them, but good for us shareholders! On the pension: £94m of agreed cash injection over the next 6 year is a lot for such a company to find. However, it is possible that pension deficits in UK companies are increased because of the weird things going on in the bond markets. My understanding is that if bond yields move back to 4-5% then AGA's pension deficit disappears (or even becomes a surplus). Will the trustees and the regulator still insist on these extra payments then? Perhaps from a 2015 bond market perspective 4-5% seems a stretch, but historically, in an economy with 2-3% inflation and 2-3% real GDP growth it is far from peculiar. I know there is a risk I'm wrong on this (I would welcome your thoughts) but the upside payoff is so great that I will take the chance. Glen
by profdoc on A good solid hold
Good piece of work. I'll be honest, I've spent 90' in total reading the Annual and Interim reports, plus 30' trying to get some company accounts and news from local websites for Grange. My impression is: There is potentially a large earning swing if Grange can get turned around and it seems that the Co has invested and rationalised a lot their manufacturing operations (local gazette). EUR/USD may help as well. Tail wind for input cost of cast iron? Must have plummeted. The Pension deficit is not entirely a red herring, this is real cash that is put up into the scheme in the coming years. If sold, Fired Earth could alleviate some of the undefunded pension fund. Mortgage approvals is not a viable leading indicator IMHO, as the products address a niche market. Would property transactions in the Shires or second- house, non-buy-to-let mortages be more telling? The share price mirror corporate AA bond yield. I am a taker of any downloadable UK corporate AA excel data so that I could plot them against the SP. Mesdeuxsous. PS: Visited Fired Earth shop in SE3 where I live, tiles way above my budget. A return flight to Marakech cost £80 (+ decent riad at €100 a night), where quality tiles cost a fraction of what is on offer in my hood.
by alphahunter on A good solid hold
That's my interpretation. It's not accounting trickery, but what is required from the new generation of illogical accounting standards which place a higher degree of importance on book values rather than cash - and I say that as an accountant. But I agree they could have explained it better.
by 18bt on A good solid hold
Actual statement reads: "A fair value charge of GBP3.3 million arises from a provision for a 'cash settled share based payment' in respect of incentive arrangements with the management of Fired Earth. Of this, GBP1.1 million was paid in January 2015. The GBP3.3 million represented the value placed on management's 19.9% holding at the balance sheet date. This values Fired Earth, including an inter-company loan, at over GBP20 million". As I read this, they re-valued upwards the shareholding in Fired Earth, which led to an increase in the management's equity, which will be bought out in future, so it went through P&L. However, only £1.1m was actually paid to management, the remainder is the increase in value of their remaining stake. But I agree this isn't very clear.
by 18bt on A good solid hold
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