Beale Share Discussion Threads

[topvest] 02/8/2008 14:18

Certainly interesting. Perloff is good at spotting value and must have a game plan here. I suspect a number of shareholders will be glad to get out in this market.

[badtime] 02/8/2008 13:40

Aanyone here...interested in views re this tender offer

[lbo] 29/1/2008 12:50

Beale


Our view: Avoid

Share price: 42p (-1p)

If the mini department-store chain Beale vanished, would we notice? While no doubt regarded with affection by shoppers in the towns it serves such as Bournemouth and Bedford, the group lacks the brand strength and buying power of its larger rivals.

Latest results make grim reading. Full-year sales were virtually flat at £108m as it slipped into the red after grappling with rising rent, rate and energy bills. Losses were just over £1.4m, compared with a profit of £324,000 before.

Beale accepts it faces another hard year. Sales in the first 11 weeks are down 6.4 per cent. A new chief executive is coming in from British Home Stores. He clearly relishes a challenge.

A series of warnings have hit the shares hard. At the current price, the business, which trades from 11 sites, is worth just £8.5m. The only upside seems to be a bid.

[lbo] 28/1/2008 13:00

Beale sees no upturn after losses

[pugugly] 10/1/2008 18:07

Now property values are falling no prop (that I can see left) Not even sure that a t/o at this level would make a VC enough to be worth while. Sorry for anyone who still holds.

ALS:- Agreed your 42 was correct re "interesting" but !!!!

[cyberpost] 10/1/2008 16:03

Beale Trading Statement




RNS Number:5423L
Beale PLC
10 January 2008




10 January 2008

BEALE PLC - TRADING STATEMENT


The Directors of Beale plc announce that, although our results for the 53 weeks
to 3 November 2007 will be marginally ahead of brokers' forecasts, results for
the financial year ending 1 November 2008 are likely to fall short of market
expectations.


Whilst November sales were at similar levels to those of the previous year, the
economic environment deteriorated significantly in the final weeks of the
calander year, with footfall reduced markedly during December; although since
Christmas sales have improved slightly compared with last year.


Whilst our stocks have been well controlled, our margins have been put under
considerable pressure by the requirements to clear residual Autumn/Winter 2007
apparel and to meet the considerable promotional discounting in the high street.


Like for like sales, including concessions and VAT, for the past 9 weeks to 5
January were down 6%.


Whilst it is still very early in our trading year, it now seems unlikely that,
in light of the current economic environment, our sales and results targets will
be achieved. It is also unlikely that a dividend will be paid for the current
trading year.


Our results for the 2006/7 trading year will be released on 28th January 2008.

[ba5hir is back] 27/7/2007 11:11

Bad news avoid all retailers including jqv they have concessions at Beale.

[lbo] 22/6/2007 07:14

Well Seymour Pierce were right. No interim dividend and another set of bad results.

[bpon] 13/3/2007 22:19

This stock continues to disappoint long-term holders. The profit generated is minute, as the Chairman acknowledges .
Lets hope someone will see the value apparent in the Business and activate a "take-out".
It appears to be a ripe "plum" ready for picking.

[topvest] 27/1/2007 17:27

This company lost a lot of money in H2. Interesting asset play with a defined benefit pension scheme thrown in to complicate things! Anyone any thoughts?

[beddingfibl] 18/8/2006 17:54

anyone know about this?

[hammy davies jnr] 18/8/2006 17:14

Thanks spob

[electric sheep] 18/8/2006 17:09

should be BA. innit?

[spob] 18/8/2006 17:06

Defence contractor BAE Systems was among the best blue-chip performers, climbing 13p to 373p after the Government signed a £20bn deal to sell the Eurofighter Typhoon aircraft to Saudi Arabia. The deal, which allows Saudi to replace its ageing fleet of Tornado aircraft, extends over the next 25 years.

Broker Evolution says BAE will have to wait until 2008 before seeing any benefit from the contract, which will not be finalised until the end of this year.

Evolution's Harry Philips says: 'It's good news but is still way off contract and underpins 2008 numbers rather than generates big upgrades. It also provides visibility, which is important. BAE's order book is currently £60bn.î

Philips has repeated his add rating on the shares to reflect improving momentum.

Also benefiting from the contract will be aero-engines maker Rolls-Royce, up 3½p at 428p, which is part of the Eurofighter consortium.

Broker Merrill Lynch has repeated its buy recommendation and 530p target price on Rolls following a meeting with management. It says: 'We see Rolls-Royce as a solid long-term growth story.'

It regards the stock as non-cyclical, with all the company's profits coming from aftermarket and defence.

[timbo003] 25/1/2006 17:16

Well, I thought results were pretty good considering that the current high street, retail environment is probably the worst we've seen for over a decade.

What's this jounalist/analyst nonsense about a p/e of 90 being a reason to sell, so what! Just look at the turnover (£65M), it only needs a very small increment in margin to have a dramatic (favourable) effect on p/e and profit. I'm hangin' on in there and I'm tempted to add.

[lbo] 24/1/2006 11:32

In its present state, Beale, which has 11 department stores in towns ranging from Bolton and Kendal to Winchester and Worthing, is not an attractive investment proposition. Although the group registered a 7 per cent rise in like-for-like sales during the 11 weeks to 14 January its margins are in decline. Meanwhile, the company is burdened by a £6.9m pension fund deficit, and brokers are forecasting only a very modest profit from the group in the current year.

The broker Seymour Pierce is expecting it to notch up a £200,000 pre-tax profit by the end of 2006, which leaves Beale shares trading at a hefty 90 times earnings. Hope that the retailer could be taken over is the only reason its stock enjoys such a rating, but Seymour Pierce is sceptical about such an outcome.

Beale is believed to have held bid talks with House of Fraser at the start of last year. However these came to nothing, and a rerun of the negotiations ending with a deal looks unlikely after yesterday's results from the group.

Investors would do well to sell Beale stock at current levels.

[arthur_lame_stocks] 23/1/2006 15:40

All the usual suspects over here I see. This looks an interesting stock. It certainly passes the ADVFN thread test.

[mazarin] 06/1/2006 11:40

Sorry wrong EPIC - ADVFN moderator, please delete this thread....see BA.
Thanks

[timbo003] 02/12/2005 18:42

Christmas comes early for Beales, Ho, Ho, Ho...

This should help trading at the Poole and Bournemouth stores (which are not located anywhere near the Castlepoint shopping centre)

[lbo] 29/6/2005 13:46

Timbo it got up to 90p and today is only 71p mid. I think its worrying! they are going to have to take an even bigger hit on profits when they try and deal with the pensions deficit! And looks like trading is barely holding up and the divs are coming from cash reserves.





Pension concerns cut short takeover talks at Beale


DEPARTMENT store group Beale confirmed takeover talks with a series of potential suitors had ended amid concerns over its pensions deficit.

Since an unnamed bidder approached the 12-store chain in February, a number of other parties expressed interest, but all decided to take proceedings no further, mainly because of the company's pension liabilities.

The scheme, which closed to new members in 1997, had a deficit of £7.3 million at the end of its last financial year. Bournemouth-based Beale, which has stores in towns from Bolton to Worthing, brought forward its interim results to coincide with today's announcement.

It said trading remained difficult with pre-tax profits falling to £1.1m in the six months to April 30, from £1.3m previously. A 2.4 per cent fall in sales to £57.9m reflected "intensely competitive" trading conditions and was mainly because of a disappointing performance in houseware and menswear. Conditions remained tough into the second half, with like-for-like sales unchanged on last year in the seven weeks to June 18.

The company said: "The trading environment remains difficult and we do not foresee any significant improvement during 2005."