Share Name Share Symbol Market Type Share ISIN Share Description
Autoclenz Holdings LSE:ACZ London Ordinary Share GB00B0N59376 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 32.50p 0.00p 0.00p - - - 0.00 05:00:10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Support Services 26.6 -0.3 -1.7 - 3.38

Autoclenz (ACZ) Latest News

Real-Time news about Autoclenz (London Stock Exchange): 0 recent articles
More Autoclenz News
Autoclenz Takeover Rumours

Autoclenz (ACZ) Share Charts

1 Year Autoclenz Chart

1 Year Autoclenz Chart

1 Month Autoclenz Chart

1 Month Autoclenz Chart

Intraday Autoclenz Chart

Intraday Autoclenz Chart

Autoclenz (ACZ) Discussions and Chat

Autoclenz Forums and Chat

Date Time Title Posts
07/12/201211:24AimShell Acquisitions plc3.00
06/12/201209:05AUTOCLENZ - Clearing Up Ready For Big Gains220.00

Add a New Thread

Autoclenz (ACZ) Most Recent Trades

No Trades
Trade Time Trade Price Trade Size Trade Value Trade Type
View all Autoclenz trades in real-time

Autoclenz (ACZ) Top Chat Posts

DateSubject
16/5/2012
14:31
deswalker: Formalities took 7 mins, my questions took 30 mins and we were done in 37 mins. No other shareholders there. The Board and other management had a meeting to attend at 12.10pm so it all just about fitted in. Not much to report really ... - Business is going well and they intend to stick to their knitting. - They are very comfortable that the Measham case cannot and will not be repeated elsewhere but they are not complacent and are continually making sure that all employment law is adhered to. They have had strong reassurance from HMRC that they wouldn't be interested in revisiting them for a long time. The courst case has been a real pain but has also had benefits in showing that they can't be pushed around by anybody. - They have no intention of delisting and Mr Leek said he was totally against such shennanigans. Nobody on the Board or external shareholders is interested in adopting such a route and Mr Leek said he wouldn't stay as Chairman should anything like that start to be seriously considered. To quote him "it's not fair to shareholders". - I said the way to improve the share price was to a) have confidence that this is a substantial business, b) share buybacks and c) a much larger divi. I told Mr Leek that the latter was the surest way of getting the market's attention and he said it would be considered now that Measham case and the debt are nearly history. - The Board is well aware that this floated on an EV of £18m and currently sits at approx £3m and they are clearly at a loss as to why that is so. However one of their largest shareholders thinks that a PE of about three is "about right" to which I countered that he was talking rubbish and Mr Leek agreed. - I told him that this share is on a few more radars this year than last and that a few smart PI's were now appreciating the value. So in sum, I'm hoping to see a steadily improving performance combined with buybacks and increased dividends. A delisting is not on the agenda. Des
28/3/2012
07:08
deswalker: Pleased to see this post by WCB over on TMF last night. He asks for better suggestions and I can offer none ... Imagine a company with net assets of £12.3m and a market cap of £2.8m. Imagine, moreover, that it is consistently cashflow positive, having reduced its net debt from £2.66m to £0.27m during the last three rather torrid years. Imagine that it has eps (adjusted for its significant but temporary amortisation practices) of 8.65p, and yet a trader can pick it up at 25.5p. And it pays a divi too, of nearly 4%. This is the sort of company that I would love to own, and would love to see discussed on TCFF. It is called Autoclenz, and it cleans cars for clients of various sorts. It also has on the board James Leek, of Torday and Carlisle/E Wood fame, who did us all so proud. Until the weekend I had never heard of it. In an ideal world it would be discussed on this board. But at the moment the board is hibernating, and so great Fools like DoY, DesWalker and Stemis have to go over to ADVFN to discuss it :-) Fortunately I discovered them lurking there in the nick of time, on Sunday, and have now salted away a nice holding of shares, accumulated over the last two days. I seem to have been responsible for most of the buying, in fact, though I obviously have a companion in crime. These purchases have not so far had a dramatic effect on the share price, which strikes me as still ludicrously cheap. Anyway, the point of this post is only partly to enthuse about ACZ, but also to wonder how Fools can check out the latest gossip on shares like this if TCFF is not functioning to tip us all off :-) I think we will just all have to check out DoY's investment pages, which go from strength to strength: http://www.david-wilmshurst.co.uk/ Any better suggestions? :-) cheers WCB
23/3/2012
13:11
deswalker: Coincidentally the now delisted JCR have just issued their Finals for 2011. They show a pre-exceptional EBITDA of £682k, net-debt of £2.363m and 13.149m shares in issue. Now I know ACZ and JCR are in different sectors but I'd suggest there is at the very least a partial read-through. Suppose x is the JCR price in pence and y is its current EV / EBITDA ratio. We have ... 13,149,000 x / 100 + 2,363,000 = 682,000 y A JCR share price of 20p (ie that immediately prior to delisting) implies y = 7.32 cf ACZ's EV / EBITDA ratio of 1.75 !! Yet those shareholders who continue to hold JCR seem to think it is good value at the delisting level. Nobody can tell me that JCR is a better investment than ACZ right now. Not even close.
23/3/2012
09:16
deswalker: Just posted this on TMF ... Autoclenz issued their Finals for 2011 yesterday ... http://www.investegate.co.uk/Article.aspx?id=201203220700148... Back in November they flagged that second half trading was tough and that they expected to miss their internal profit targets. This prompted the share price to halve over the following months but has rallied a touch on yesterday's better than expected full year figures (business picked up towards the end of last year). At the current 27p Offer price and 10.4m shares in issue we have a market cap of £2.81m. Inspite of the tough year they reduced net-debt from £750k down to £274k giving a current EV of approx £3.08m. In spite of numerous difficulties they still managed a pre-excepetional EBITDA of £1.764m (vs £1.815m the year before). So currently this sits on an EV / EBITDA of 3.08 / 1.764 = 1.75 !! I think that is rather cheap. The exceptionals have either stopped (loss making contracts closed down back in October) or are coming to an end in the near future with the final settlement of a long standing court case. Provisions have already been made for these costs in the Balance Sheet. The Outlook statement says that trading remains tough but they've been saying that for a couple of years now and yet they keep churning out the profits and the cash. Reading between the lines one can't help but feel that they are relieved the court case is just about settled, that they will be much more cautious about contract pricing in future and that they are cautiously optimistic. They are also frustrated at the lowly share price and I shall be urging the Chairman (James Leek of Torday and Carlisle fame) to instigate buybacks as soon as the court case is finally put to bed.
23/3/2012
09:15
deswalker: SteMiS - agree with your sentiments in #168. I now own just over 1.5% of the company (160k shares). harrogate - all fair points and worthy of questions at the AGM. On the one hand being listed costs money and and gives competitors information. But on the other it allows access to a market for the shares for buyback purposes which is something that James Leek as real form with (Torday & Carlisle). It was certainly a medium term plan when I spoke to him at last year's AGM. I find it hard to imagine any of the institutions listed would vote in favour of a delisting when the company is doing just fine as a listed entity. The share price will improve in due course when they have a better year or two, are willing to increase the divi and when the buybacks kick in. As we see with these smallcaps, 50k shares (£10k's worth) of buying can see a 10% rise and anybody willing to invest £50k would see the share price quite a bit higher. They really are that illiquid. I should say that I agree with SteMiS. This is certainly one I would be comfortable to hold into delisting and would look to buy more should the share price fall enough. Dividends and cash returns direct from the company would be sufficient for me. They've been in the business 40 years and I see no reason why they won't be around in another 40.
16/6/2011
16:02
wilmdav: Des, Am available earlier than expected. Until a couple of months ago I have been close to fully invested for at least a couple of years. That was certainly why I paid little attention to your TMF post of March this year. I don't recall seeing a similar post this time last year but if I did the reaction would have been similar. My performance has been quite good during the past 12 months but I have little doubt that you did far better than me in 2008, from whence it took me the whole of 2009 and 2010 to retrieve the situation (excludes dividends). Your approach offers far better protection from the downside. My investing ability is based solely on the numbers and I don't seem able to smell what the retail punter wants at all. IMO CR is the exact opposite to me and is much more successful. My approach is also very numbers oriented, initially at least, but probably not always the same numbers as yours. Asset values do much less for me than cash flow and growth trends. External factors such as recovery potential and/or sector environment are also be important to me. I am much more inclined to try to anticipate what an institutional investor would look for rather than a retail punter, as it is the former which will largely determine the share price of most shares. Of course that becomes less true the lower you go in terms of market value. CR might be a canny investor but out of you and he, I know which one I would prefer to invite to a dinner party. So, do you avoid market caps below a certain number ? Avoid AIM shares ? Look at PEG ratios ? Look at Bulletin Board chatter ? I don't avoid low market cap shares but in such cases do need to be much more convinced about the upside, hence I only have a few. Although careful about AIM shares I own several. I think PEG ratios are a dated, simplistic tool, more suited to Investor's Chronicle articles prior to the internet. I detest and skip most bulletin board chatter, especially that on some ADVFN boards but pay a great deal of attention to and have learned much from a selected few contributors. I'm just bloody curious why my (IMO) ultra cheap but ultra quiet shares refuse to gain any traction whilst all sorts of stuff I wouldn't hold at current levels (such as STAF) have had such great runs. It's driving me mad :o) Hard for me to comment on your ultra cheapies because apart from ACZ the only one I looked at relatively recently was WORK but got put off by the spread. You make STAF sound expensive. prospective P/E's of 9.2 and 8.4. Yield 2.9% and 3.4%. Habit of analyst upgrades. Debt 28% of historic ebitda. True, you need to have a view on growth potential. You have presumably got your eye some other factor. I think the thing I don't understand is just how much the market is willing to pay for profit growth whilst also choosing to ignore flat profit but free-cash generative companies almost no-matter how much the valuation discrepancy between the two. It's almost as though the market equates flat profit with a dying business and hence completely discounts the share even though there is no sign of such a death from the company themselves. You may well be on to something here. Perhaps I'm going to find out with ACZ! I tend to look for companies that are growing AND have good free cash flow characteristics. I think the other thing I ignore from my invesment decisions is illiquidity. I tend to deal in very illiquid stuff which has no institutional or broker support. Better investors than me are able to see that they need to pay a bit or even quite a lot more on the metrics in order to get into a share with better liquidity and market visibility and hence see a moving share price instead of a horizontal line. Meanwhile I just sit and wait for corporate actions as the apparent only way my shares can reach their true worth and as these come so rarely there is a lot of opportunity cost lost. I can't comment constructively on this either because it is not what I do but will say that it has the smell of a very honest and accurate assessment, which must be the first step toward even a small step in the direction of changing one's strategy in search of improvement. I can't see me changing my strategy any time soon as I'm fully invested in shares that I regard to be equally cheap as ACZ, and my success or failure will be judged by what I own now not by any new investments. It's probably important not to change anything too much or too soon. We are all in the process of developing skills that suit our own personalities and capabilities. It will also be true that what you have and will work out for yourself will be far more important that my waffling!
15/6/2011
16:36
deswalker: Wilmdav, Good links. Thanks. I agree with you that they are likely to lose, that the settlement will not be too severe and that the share price appears to reflect a lot worse than that. Reading between the lines I believe this to be Mr Leek's view too. In an attempt to help me as an investor can you say why you weren't interested in this share when it was flagged this time last year ? I have no doubt that your performance has been much better than mine this past 12 months enjoying nice GARP type rallies whilst I sit on what I regard as ultra-cheap "special situation" type shares like this which have flatlined and hence effectively got cheaper and cheaper as the cash position has increased. My investing ability is based solely on the numbers and I don't seem able to smell what the retail punter wants at all. IMO CR is the exact opposite to me and is much more successful. So, do you avoid market caps below a certain number ? Avoid AIM shares ? Look at PEG ratios ? Look at Bulletin Board chatter ? I'm just bloody curious why my (IMO) ultra cheap but ultra quiet shares refuse to gain any traction whilst all sorts of stuff I wouldn't hold at current levels (such as STAF) have had such great runs. It's driving me mad :o) I think the thing I don't understand is just how much the market is willing to pay for profit growth whilst also choosing to ignore flat profit but free-cash generative companies almost no-matter how much the valuation discrepancy between the two. It's almost as though the market equates flat profit with a dying business and hence completely discounts the share even though there is no sign of such a death from the company themselves. I think the other thing I ignore from my invesment decisions is illiquidity. I tend to deal in very illiquid stuff which has no institutional or broker support. Better investors than me are able to see that they need to pay a bit or even quite a lot more on the metrics in order to get into a share with better liquidity and market visibility and hence see a moving share price instead of a horizontal line. Meanwhile I just sit and wait for corporate actions as the apparent only way my shares can reach their true worth and as these come so rarely there is a lot of opportunity cost lost. I can't see me changing my strategy any time soon as I'm fully invested in shares that I regard to be equally cheap as ACZ, and my success or failure will be judged by what I own now not by any new investments. Frustrated rant over. Any thoughts appreciated. Des
15/6/2011
15:24
wilmdav: Des You may well have looked at the following already but just in case not, here are a few google links to the case. The most informative and latest is the last one. http://blogs.mirror.co.uk/investigations/2009/10/autoclenz-workers-win-vital-jo.html http://www.unitetheunion.org/news__events/2009_archived_press_releases/unite_wins_employment_rights_f.aspx http://www.freelancesupermarket.com/blog/2009/11/20/what-we-can-learn-from-autoclenz.aspx http://www.hmrc.gov.uk/manuals/esmmanual/esm7310.htm http://en.wikipedia.org/wiki/Autoclenz_Ltd_v_Belcher http://www.law-less-ordinary.co.uk/wordpress/2011/06/10/when-is-an-employee-not-an-employee/ http://www.thefriendlyemploymentlawyer.co.uk/index.php/2011/05/17/employment-status-and-s/ As you say, a fine does not look likely, only payment of benefits to employees (if that is how the Supreme Court classifies them). My amateur guess is that ACZ will lose but the share price appears to reflect a lot worse than that.
20/5/2011
16:18
deswalker: Just a quick post cos my computer's playing up. I was the only outside shareholder there, not just for this AGM but for quite a few years if ever as a plc ! They were all chuffed to see me. I met many of the senior team and they were all very helpful, chatty and enthusiastic. I was impressed with some of the young blood they've got coming through. They seem very happy with things and see lots of opportunities for growth which can be tried locally and rolled out nationally quite quickly if they work. They said their big skill is in managaing a lot of people across a large area and having the infrastruture to do it. IMO this is a huge strength of the company. They are keen to get the court case resolved and then start thinking about promoting the company a bit more to improve the share price. Mr Leek was very pleasant and seemed relaxed about things. He certainly didn't seem in any rush to start shouting about the company and was adamant that they are not going to start forecasting results for brokers etc. He mentioned buybacks as one possibility (as happened at TDC) but didn't seem quite so keen on big divi payments (although I think some divi growth is likely) preferring to be cautious. Generally caution in raising any market expectation seemed to be his byword and that suits me. I do wonder if he is thinking of enhancing value via buybacks over the medium term. Operationally they have lots of new ideas and lots of new business to tender for. Their performance is more sensitive to used car sales than new cars as their margins are slimmer on the latter anyway. There are all sorts of cross-selling initiatives around combining valeting, small on-site repairs, medium on-site repairs and delivery movements that they are exploring. The property management business is developing well too and they made the point that their area of expertise (cleaning) is non-discretionary whereas it's areas such as the painting and decorating of these social houses etc that are feeling more of the pinch because they are deemed less necessary by the landlords. I'm sure there's loads more but that'll do for now. As far as I'm concerned the only fly in the ointment with this share is the court case. The rest looks like a complete cashflow bargain to me with all sorts of possible avenues for growth going forward. As for the court case, they stressed it was 20 employees who had exceptional and unusual work practices at one sight. They have already made provisions for at least some costs and possibly even some compensation too. In sum, I was very impressed by the whole set-up and it felt like one of those old-fashioned well run businesses that knows how to deliver in good times and bad. I see no outer other than cashflow, divis and I have a sneeky feeling buybacks too if Mr Leek gets to work in due course. Rgds to all I met at the meeting if you happen to check out this thread :o) Des
20/5/2009
21:03
gozo: for those interested, article from the motley fool. Autoclenz Autoclenz (LSE: ACZ) describes itself as the UK's leading provider of outsourced vehicle valeting and specialist cleaning services. Like a lot of small companies, it's seen it share price crucified by the bear market, dropping from 130p at the start of 2007 to only 25p. It's now a real stock market minnow, valued at only £2.6 million. That's despite a turnover in 2008 of £28.0 million. Of course, for a company whose major customers are car dealerships and rental companies, you might expect that its low market capitalisation reflects a business in considerable difficulty. You'd be wrong. Sales in 2008 were up by 3.5% and although operating profit fell, it was still a creditable £1.2 million (before goodwill and share option charges). That resulted in a bank borrowing being slashed from £3.8 million to £2.7 million; well within its facilities. This leaves Autoclenz on a meagre price earnings ratio of 2.9 (although admittedly on a zero tax charge). That hardly seems expensive, even in the small cap market. It's a valuation that's attracted the attention of turnaround specialist James Leek. Leek was responsible for the break up and disposal of E Wood PLC (formerly Torday & Carlisle PLC), delivering spectacular gains for shareholders by a combination of share buybacks and ultimately the sale of the Group. He's been buying heavily into Autoclenz and in January 2009 was appointed Chairman of the Company. Again there are no brokers' forecasts for Autoclenz. However in their latest results Leek observed: "During 2009 we are budgeting to continue this [debt] reduction and would like to see net debt at or below £2 million. There is a strong determination from everyone at Autoclenz that, despite the worst recession since the post-war years, we should strive to at least maintain our profitability at or above the 2008 level." If Leek can deliver on these objectives, the share price should rebound strongly. A share price of 50p, double the current level, seems well within reach. The company holds its annual general meeting on 21 May so we should soon find out how things are going. However Leek doesn't seem to have been put off by what he's found or by current trading, upping his stake to 9.1% last week. Small companies like Volvere and Autoclenz are often poorly research and followed. Most institutions are unable to invest enough money in them to be worth their while. For private investors that presents a golden opportunity to beat the market, although the risks are high.
Autoclenz share price data is direct from the London Stock Exchange
Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P:32 V: D:20161209 11:45:20