||EPS - Basic
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Real-Time news about Beale (London Stock Exchange): 0 recent articles
|jojo_jo: Wasting time 'researching' (poorly) and then posting on a bulletin board is totally in(s)ane! I prefer to tilt with a short-seller who admits his position. At least that's honest. Shorters almost never admit to being short.
I have encountered short-sellers who have shorted far more illiquid stocks than this. It was much more liquid 9 months ago.
Nobody with more than two brain cells would waste all this time on a stock they had no financial interest in.
You talk nonsense yet again. Your attempts at scaremongering and de-ramping are as obvious as they are erroneous.
All businesses have to re-value their freehold/leasehold assets in their annual accounts. For years, while values were falling, this has worked against them. Recently, as property values increase, it is beginning to work for them. They have to revalue their property. Property values are just a part of the asset side of the balance sheet, which by definition, 'balance' the liabilities. Beale by no means have any particular leverage against their bricks&mortar. Banks don't allow such leverage after the lessons learned in 2008/9.
The groups debt is perfectly acceptable, and positive cashflows are now being achieved. They are well within the huge £12m available to them under the new'ish re-financing through Wells Fargo. That gives them massive covenant headroom over and above the previous £8.5m HSBC facility. That near-50% increase in available funds is a huge show of confidence by the American banking giants! It gives them the freedom and flexibility they need to reverse the last couple of years' decline - which they are doing.
Remember, low expectations and performance are well and truly priced in at this share price. In any event, the break-up value would likely give over £10m back to shareholders, so there's no risk whatsoever at the current £2.2m m/cap.
And what about this (not so) little bonus...
" The Company has recently entered into a transaction re the Tonbridge store where the Company had a lease up to June 2031. The Company has entered into a transaction with Sainsburys on 24 April 2013 whereby the Company received GBP1million on 25 April 2013 and, subject to successful planning and certain other pre-conditions being satisfied, the Company will receive a furtherGBP3 million on the lease surrender. The GBP1 million will be taken to profit over the period between the date of receipt and the anticipated date of lease surrender. "
So, as consent for the Sainsbury's takeover is very likely, they look like they'll be getting a £3m cash windfall this year! That's almost 50% more than Beale's current m/cap.
PS. I'm very happy there is a short position or two here. Pro traders regard short positions as bullish... they create the huge spikes, as the shorts get squeezed.|
|jojo_jo: Yes, every man and his dog has been bleeting about 'structural decline' of the High Street. The High Street has been in decline for seven or eight years, but it seems to have now turned the corner in large population areas. I agree that online retail has killed off rural and semi-rural shops (other than food/essentials.) We'll just have to wait on retailer reports on how Christmas actually panned out. I have been surprised at how busy city shopping centres have stayed right up until today - and there is more to come as more sales kick in on New Year's Day.
Another point worth noting is the recent jump in Freehold values should improve the NAV here further still. I keep a close eye on some sectors of the commercial property market, including retail and leisure, and noticed a pretty sharp mark-up by agents a couple of months ago. Most Landlords would be happy to hold on to the tenant of a large high street property. In Beale's case there is the added benefit that in some cases the Landlord is a major shareholder who is therefore unlikely to shoot himself in the foot imposing punitive rents. Accordingly I believe that Beale will continue to pay sub-market rents and dispose of underperforming leased properties as and when they can.
At a current m/cap of £1.9m vs c.£9m nav the case for a share price recovery looks very compelling.
|topvest: It's called structural decline. There isn't much of a market for middle range department stores any more. The share price says it all. The most interesting thing to me is just what Panther and Perloff are up to with their 30% holding. I'd be surprised if he gets caught with a write-down that exceeds the gain he will make on the property assets. He is a very astute fellow, so I suspect he has something up his sleeve. Beale have a lot of leases with Panther as well which are coming out of rent free periods. All very intriguing.|
|coolen: Good spot, Battlebus.
With an NAV twice the share price, maybe property man Andrew Perloff will get a profit on his 25% shareholding after all, without trying to do a deal to suit himself with Beale's freeholds.|
|markfrankie: BAE Systems plc (BAE Systems) and EADS N.V. (EADS) have today made a statement to the London Stock Exchange about a possible business combination between BAE Systems and EADS.
Statement re Share Price Movement
BAE Systems and EADS have a long history of collaboration, and are currently partners in a number of important projects, including the Eurofighter and MBDA joint ventures. The two companies confirm that they are now in discussions about a possible combination of the businesses. The potential combination would create a world leading international aerospace, defence and security group with substantial centres of manufacturing and technology excellence in the UK, USA, France, Germany and Spain as well as in Australia, India and Saudi Arabia.
BAE Systems and EADS believe that the potential combination of the two businesses offers significant benefits for all stakeholders, over and above their individual business strategies, which both businesses continue to execute strongly. In particular, they believe that the combination of the two complementary businesses offers the opportunity of greater innovation, long term financial stability, and an extended market presence, which will enable them to compete even more effectively on the world stage.
Any agreement on the terms of a potential combination will require approval by the Boards of both BAE Systems and EADS, and would be subject to, amongst other things, a number of governmental, regulatory and shareholder approvals. There is no certainty at this stage that the discussions will ultimately lead to a transaction.
BAE Systems is a strong, well‐run company, successfully implementing our strategy. During the process of the discussions with EADS, BAE Systems will continue to focus in meeting all of their current commitments.|
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.|
|timbo003: Encouraging news today concerning the possible (probable?) takeover of James Beattie by House of Fraser, I'm surprised the Beale share price didn't respond with an upward leap, I may buy a few more tomorrow.|
|alfred: shares mag says..."shareholders dreaming of a further premium to the current share price may be disappointed as Beale is not in a strong negotiating position........with Beale's abysmal trading record over recent years and weak outlook, an offer above 82p is unlikely.....the net asset value is not a good guide to the likely bid price." Various disparaging comments made about Beales|
|hybrasil: Investors chronicle puts these in top of their recovery aim stocks.It gave the share price on Friday a bit of a filip and I expect they will go up again on Monday.|
|hybrasil: another terribly active bulletin board.
Intteresting share price based on the NAV but after the pension the NAV is about 109. My target entry price is 55|
Beale share price data is direct from the London Stock Exchange