Caffyns Share Discussion Threads

[ntv] 03/5/2015 19:21

overhang cleared plus a buyback maybe?

[ntv] 28/4/2015 08:24

agreed it is a screaming buy. but there is still a seller which is nice, recent sales of property and pension fund changes greatly enhance the balance sheet. my guess is that future pension contributions figures may well drop as a result of these changes. the business itself is also improving with increased car sales.
the low pe ratio and significant asset backing must make it vunerable to several companies slide rules. safe,good yield and prospects make it a good place to have your investments

[beazer2] 21/4/2015 10:40

This share has liquidity and close family shareholding against it. Otherwise on every measure it ought to be a screaming buy.

Yesterday a reduction of the pension liability of £5m was reported - equivalent to around £2 per share. Added to the £6m surplus on revaluation not reflected on the balance sheet it takes the nav to over £10 per share.

Earnings of 75p per share gives a p/e of just 7.2(at 550p sp) and with a dividend rising from 12p to 18p last time, covered over 4 times and yielding 3.3% with a prospect of a rise to 24p, still covered 3 times and then yielding 4.4% would seem compelling. Car sales have been buoyant and results next time should show significant growth. I have these as a long-term hold and topped up today. DYOR

[ed 123] 02/4/2015 12:17

Ta, corbeta.

Re-read my post and should say I wasn't intending to boast. Just trying to make a point about Caffyns' underperformance.

If you want another comparison, take a look at the total remuneration of the CEO's of Caffyns and of Lookers in their last annual reports. Then look at the market caps of the two companies, £15m versus £390m. Does the total remuneration of one of these CEO's seem way too generous?

[corbeta] 02/4/2015 10:13

Ed 123 - well done, you certainly made the right choice.

[ed 123] 02/4/2015 09:12

corbeta

No chance whatsoever of a special dividend, imho.

I recall selling some of these at over £9 per share. Had to look back on the chart to see when that was. Must have been around 2007.

It's been illuminating for me to overlay LOOK and CFYN chart for a 7 year period. The two are very closely correlated until 2012 when LOOK takes off.

CFYN has massively underperformed during the car sales boom of 2012 onwards.

(Presently holding some LOOK but no CFYN.)

[aishah] 01/4/2015 19:52

These guys are so shareholder unfriendly. No impetus to enhancing value for holders. I give up. imo,dyor

[shanklin] 07/3/2015 08:19

You're welcome.

[muckshifter] 06/3/2015 16:45

Thanks Shanklin, hadn't seen that.
Regards.

[shanklin] 06/3/2015 15:55

muckshifter, take a look at post 263.

[muckshifter] 06/3/2015 15:51

IIRC, last year cfyn issued an IMS or a trading update about mid Feb, but said at the end that much depended on March, which is a key sales month. Have they said there will not be one this year, or are they leaving it a little later to be able to comment on March as well?
Regards.

[sirhedgealot] 06/3/2015 13:31

Fingers crossed indeed.

[lanzarote666] 06/3/2015 10:42

Anybody see the Daily Mail article yesterday reporting UK car boom as sales rise 12% while consumer confidence shows signs of an upturn.

If this share price starts to tick up we know that March sales have continued the upward trend...

[sirhedgealot] 23/2/2015 15:00

In reply to Corbeta..next time I walk by I will enquire about sales performance. I can only ask certain details understandably. Some kind of catalyst would help here IMHO. I also agree that doing away with quarterly reporting may turn out to be a mistake. Can less disclosure ever help except to deter speculation. Too hard a question for me.

[jaf111] 23/2/2015 10:36

On the other hand with such buoyant trading conditions in the sector a "materially ahead of market expectations" is now unlikely.......except of course with no broker forecasts such a statement would not have been possible!!!!!!!

Either way roll on the results - only a little over 3 months away.....

[shanklin] 23/2/2015 10:27

JAF111

I completely agree. Despite the regulatory change, I think it would be wise for all companies to continue to issue IMSs, even more so in the absence of any broker forecasts. However it did still provide some small comfort that CFYN would have issued a TS if they felt the H1 results gave a false impression of current trading.

[jaf111] 23/2/2015 10:24

Thanks Shanklin....understand the "if trading had changed significantly" point....nevertheless a reaffirmation that all going well never hurts especially for smaller companies!!!!

[shanklin] 23/2/2015 10:04

JAF111

I rang the company and spoke with the FD about this. AIUI CFYN just acted, unwisely IMHO, on advice that an IMS is no longer required due to regulatory change... ...a change that to me seems completely ridiculous. I commented that I thought this was an unwise decision, particularly in the absence of a broker estimate.

I was given to understand that:
- The issue of IMSs would be discussed at the next board meeting. Anybody who shares my view could perhaps also advise CFYN management of their thoughts on this;
- If trading had changed significantly since the H1 results, the company would have updated the market.

All IMHO DYOR.

Cheers, Martin

[jaf111] 23/2/2015 09:23

completely agree Shanklin.....and very surprising the management / family don't see it that way.

[shanklin] 23/2/2015 08:47

Shame CFYN chose not to issue their normal TS. Given there are no broker forecasts for CFYN, I think this was even more of a mistake than for other companies using weakened regulation to avoid issuing IMSs. All IMHO DYOR.

[corbeta] 20/2/2015 18:58

Can you tell us what staff have said about the level of sales so far this year?

TIA.

[sirhedgealot] 20/2/2015 16:09

I live round the corner from a caffyns dealership on the London southbound line. I have had the pleasure of talking to the sales staff. They run a wonderful business with a smart showroom, no doubt renumeration reflects family ownership but the is loyalty in the customer base.

[prop_joe] 19/2/2015 09:37

Hopefully good Pendragon results earlier this week provide a promising read across to CFYN?

[sirhedgealot] 16/2/2015 14:13

Then I was filled....