Caffyns Share Discussion Threads

[3800] 28/9/2015 20:07

Onjohn I'm not sure why you think that this news is so dire for car dealerships. Do you believe car drivers are just not going to buy any more and just use public transport in the future? It's the manufacturers who are going to take a hit. (probably ALL of them when the truth finally comes out)
3800

[capricious71] 10/9/2015 19:12

I found this share by accident, whilst looking at details for REDD (I strongly recommend them!)

;)

This one looks so quiet yet the chart looks encouraging. A shame that a good company like this is getting ignored.

[ed 123] 03/9/2015 19:33

You make good points, Beazer2. I'm not a shareholder here any more. Seemed to be going nowhere, while the directors rewarded themselves handsomely.

On the positive side, Caffyns weren't as extended as other listed car dealers when the last downturn came, so avoided a rights issue. However, performance since has not been good. As you say, scale matters. Also, the costs of the listing and of the Board haven't helped shareholders. Perhaps patient shareholders will eventually get their reward?

[beazer2] 03/9/2015 18:41

ED 123

Having been involved in a number of takeovers of family controlled businesses I can assure you that everyone has their price. Long- term employment contracts for working family members in the continuing business are standard and the Caffyns will be aware of the risks of having so much of their capital tied up in one basket, in a trade where scale is all- important and car manufacturers can sever dealership rights quite brutally. The changes they made to the pension terms resulting in a very large gain and consequent increase in nav together with recent revaluations of properties being well- highlighted( revaluations cost money and one questions, given they are not included on the balance sheet, why they carried them out) give me the sense that they are making transparent the potential to any bidder, whilst ensuring that any bid would have to be north of £10 per share.

All IMO

[ed 123] 03/9/2015 11:56

beazer2.

Turkeys don't vote for Christmas.

[beazer2] 03/9/2015 11:09

LOOK purchase of Benfield at a premium to nav could be an interesting read across to CFYN with a nav including property revaluation of £12 and a current share price of 588p. PDG indicated it is examining acquisition opportunities in the south - east.

All IMO

[sirhedgealot] 06/8/2015 15:40

They are one of the last businesses in the U.K to have prefs in the capital structure. A testament to an older time gone by. Plenty of value here. I still hold.

[sirhedgealot] 06/8/2015 15:38

The Caffyn family have been collecting the large dividends on those preferred stocks for years. Shame they withdraw so much value in dividends.

[ed 123] 04/8/2015 11:07

beazer2.

Imo, no chance of Caffyn family selling out. If they were to sell out, where would they invest the cash to get the same return?

[beazer2] 04/8/2015 10:30

After its stunning results today PDG is on the hunt for other sites. It could pay up to £11-12 for CFYN at current nav and have no goodwill to write off. Surely tempting for PDG. Will it be tempting for the Caffyn family?

[ed 123] 24/7/2015 23:21

Coolen.

It doesn't have to be like that. Have you checked Caffyns rules for the conduct of agms? The rules should state the circumstances in which a poll can be called. A poll will give you the full voting figures.

[coolen] 24/7/2015 22:50

Re the AGM result, what do guys think of the rule that only Proxy votes are announced ?

Any objectors who turn up in person are excluded from those figures, however substantial their holding.

The likes of you and I may never know how many revolting shareholders Caffyns has.

[jaf111] 23/7/2015 13:13

AGM today....rather disappointed (but not surprised) to hear nothing...

By contract Vertu Motors also have their AGM today.....and RNS @ 7am this morning with the Chairman's statement including a Trading Update.

Frustrating, especially CFYN should have a good story to tell - well the market conditions continue to be very friendly for car dealers!

[manrobert] 11/6/2015 15:20

bt back in in time for div

[manrobert] 11/6/2015 14:31

having sold out at 655 I am tempted to buy back in. not sure why they have fallen 20 on hardly any volume, you wonder whether the market will ever value these correctly. Any thoughts from other holders?

[ntv] 03/6/2015 20:25

i am assuming that they receive the money for the eastbourne site very soon.

so still going for true nett assets of around £33m
are the they looking to increase their area for jaguar landrover
seems to be the best performing area of the business

[jaf111] 03/6/2015 10:04

Ceratinly an interesting set of results imo....on the trading front some rather disappointing numbers especially when sector on fire / comparison with likes of CAMB etc. Maybe explained by all the site redevelopments.

But property revaluation, whilst no real surprise surely, underscores the great undervaluation of the share price.

Definately remains a Long Term BUY for me as economic fundamentals remain favourable.

[felix99] 03/6/2015 10:03

well I bought a few today. Not looked at them for a bit and was invested here many moons back. Does seem a valuation anomaly to me.

[prop_joe] 03/6/2015 09:47

Agree with you NTV.
After reducing the unrecognised valuation surplus by 20% to take account of deferred tax (tax would be payable if the properties were sold which of course will not happen but I like to try and make prudent calculations)and excluding the small intangibles figure I calculate net assets per share of £11.25 per share.

Given that Caffyns should make a good profit in the current year I expect the discount to net assets to close over time.

Hopefully with a good set of results and a reasonable forecast profit for the following year new investors will be tempted.

[lanzarote666] 03/6/2015 09:41

It may take a while for others to realise, but I expect these to drift higher during the day and over the coming weeks once these results get some coverage. NAI.

I still believe we are close to a break-out of that 650p barrier, but we shall see...

Happy to remain whilst the trends are positive.

[ntv] 03/6/2015 09:06

assets now £24.94m excluding another £8m through independent valuation so that appears to take assets to around £33m. the shares still trade at a significant discount even after the recent rise.

[ntv] 02/6/2015 15:09

guessed it was them, so who bought?
big buy back tomorrow maybe from house broker?

[jaf111] 02/6/2015 10:02

So yes results tomorrow....

And also today news that T&I sold out...all rather odd with transactions all between September 2010 and August 2014!!!!

[ntv] 02/6/2015 09:04

results due tomorrow according previous statement