Airsprung Share Discussion Threads

[lady liz] 07/3/2010 12:39

Long time no see CR but just to let you know these are back on my buy list.

Lady Liz xx

[lord c.] 26/2/2010 08:23

Lord C.>>>C/R

So it wasn't you C/R.
Encouraging on three fronts (i) directors buying (ii) Diggle stake building (iii) JL diluted

[jailbird] 26/2/2010 08:20

cr,

next results in june.
They never an trading update in march/april last yr.

[lord c.] 25/2/2010 08:44

Lord C. >>>C/R

Was it your 2.1m in our favourite kitchen co that went through yesterday?

[cockneyrebel] 17/2/2010 20:48

Yep, looks like a dumper about but it's a pittance in volume. I looked back - A net amount of £15K worth of sellsm over the past month has wiped £1m off the market cap :-) Hideous.

I remember the last time the price was mullared down to 7p and the co then posted results and this statement:

"Commenting on prospects, Stuart Lyons, Chairman, said:


"The Group as a whole is stable, well-managed and well-positioned. Although
sales for the first quarter of the current year remain generally weak, operating
results are appreciably ahead. Barring unforeseen circumstances, the board is
confident that the first half of the current year will show a strong recovery
with a return to reasonable profits after the severe losses of the previous
year's comparable period."

Doubled in a couple of days then. The next time the punters will be more awake for it and it won't be just a very small few of us chasing the shares imo.

Trading statement in a month or so.

And this from the last results:

"Airsprung is, however, well positioned in the marketplace, supplying a
relatively stable and strong component of the retail sector. The directors look
forward to the Group continuing its progress in the second half-year.

CR

[bigbigdave] 12/2/2010 08:35

Thats me dipping toe in this morning. After seeing the way IGR had come off and then reacted to news this looks a no brainer.

[cockneyrebel] 10/2/2010 17:39

I didn't know Hoodless covered APG.

Their forecasts are higher than the ones I'd been working to which are Smith & Williamson's. They are forecasting 2.73p eps so Hoodless look like they are 10% over that.

A PE of 7 falling to 5.5 for everythihng you get here looks a bit cheap by half imo.

CR

[dasein] 10/2/2010 13:43

Couldn't resist adding a few..(just bought a new airsprung bed and reckon its put me in a good enough mood to part with a bit of dosh..)

Tuesday 2 February 2010


Airsprung Furniture (APG, 24.5p, £5.85m) Our recent visit to the interior exhibition at the NEC confirmed the household goods market, especially 'big ticket items' is continuing to suffer. With two fewer halls and what appeared to be fewer visitors, the exhibition was relatively quiet. However, the group seem to be benefiting from individuals trading down to budget mattresses such as, Airsprung. The sofa bed division continues to make good progress winning new clients. Raw material costs have somewhat stabilised, but the weak sterling may have an adverse effect on margins. Nevertheless, we believe the group will achieve current market estimates of PBT of £0.8m and EPS of 3.14p for the year ending 31 March 2010. The group is trading at a 39% discount to its tangible net asset of £9.6m. We re-iterate our BUY recommendation.



Thought the recent advertising blitz by Dream beds, and in particular the sponsorship and targeting of "insomniacs" at celebrity big brother was pretty inspired..(for bed sales in general, rather than just promoting dream beds specifically).

[cockneyrebel] 10/2/2010 11:50

Cheers Daytraders.

On the up today I see - it won't take much volume to make thse rattle north at a pace imo - fall has been on pathetic volume too.

Cr

[lord c.] 09/2/2010 12:43

Lord C.>>>CR/BBD

Very interesting stake building by Diggle which is controlled by ex FD RW who also has a sizable stake in his own name.As he is to make millions from COH sale he will have both time and cash. If anyone knows the company and it's capabilities it will be him, so as I said above, a very interesting purchase.
At the very least a hold.

[bigbigdave] 09/2/2010 12:21

I'll admit to offloading a certain Kitchen Co. Lord C.

[cockneyrebel] 09/2/2010 11:38

Lord C. Not me.

I sold some a little while back but those I retain I may as well hold and see whether they survive or go bust.

Seems Diggle Investments have been buying? Worthing told me he had nothing to do with them anymore - all seems a bit incestuous to me tho.

CR

[lord c.] 09/2/2010 11:30

Lord C.>>>CR

CR- is that you exiting our favourite kitchen co?

[cockneyrebel] 09/2/2010 08:54

The price got slaughtered by Elmfield trying to sell his 120k at the start of the year Andy.

These are illiquid, when you have a seller and buyers just sit there watching then the price slides.

To the same token when these start rising the mm's mark up on buys of 2K at times. I'd say if investors can't live with then tick with Tesco.

But APG has something like £13-14m in property and cash for it's mkt cap of £2.5m and if that isn't safe enough on a fwd PE of 5.5 and falling then they must have some stonking safe holdings.

CR

[lord c.] 09/2/2010 08:28

Redbird are astute long term South African investors.
APG stand them in at the 60 - 70p range.
They don't get many wrong.

[ls lowry] 09/2/2010 08:18

Retailers suffered worst Jan for 15 years...

[cockneyrebel] 08/2/2010 20:39

Perhaps jailbird, but the best stocks I've ever held have been unexciting - Hornby for instance - how boring was that in 2001 ? I sold when everyone was excited.

How many are aware APG now get paid royalties from the US? 100% straight to the bottom line, they do nothing to get that money other than let beds be sold in th US under their brand - it's better than software margins. When everyone sees that rising and realises it's 100% to the bottom line they'll be excited, APG will be exciting - that's when I'll start selling - when the crowd turn up.

Why would bad weather effect beds? If anything we're more prone to bad backs in cold weather and that's when we buy new beds.

CR

[jailbird] 08/2/2010 19:32

i hve got to admit..beds are not an exciting mkt..maybe the bad weather affected them a little too.

still periods where no news is due, these sort of stocks are not surprising falling...a bull//rising mkt, these would have held up.

[cockneyrebel] 08/2/2010 19:02

I think Redbird are an investment co that have held the stake since 2001. They are Panamanian I think - a small cap investment co I believe - never found out much about them.


Well I hope you catch them when they bounce traideMark - £5.4m mkt cap now.

£2.5m in cash, no debt. £10m+ in property assets. Going to do 3.6p eps next year on forecasts and pay 1p divi (4%).

There isn't a cheaper stock on the stock market but then I was here saying that at 7p last year before they flew to 30p. Punters are a fickle lot - because the market is weak they seem to ignore value - second these bounce they'll all be piling back in tho imo.

Trading statement in March - that will spell it out imo.

Strip out the cash here and the PE is just over 3 for a company that has to be one of the safest around with all that above. Whenever it bounces tho, I'll be holding - these just aren't for sale as they wasn't in 2007 when the market fell then too.

CR