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Real-Time news about Essenden (London Stock Exchange): 0 recent articles
|davidosh: Cash offer at 80p just announced. That is derisory IMO and only a 10% premium to where we were before the announcement nearly four months ago and actually lower than where the company share price was a year ago.|
|battlebus2: The rising share price may have also forced their hand, as you say spooky it's a win win and even if an offer doesn't materialise we still have a fab little company I'm more than happy to remain invested in.|
|cockerhoop: Potential bid from Harwood Capital announced after hours last night (they already own 34%)
|battlebus2: Essenden, the holding company of the Tenpin bowling alley chain, saw its share price rocket on Wednesday after swinging to a profit in 2013 and reporting a strong start to the current year.
Chief Executive Nick Basing said that Essenden is 'fitter and stronger than ever' and confident that 2014 will be a 'defining moment in the company's future'.
The group, which has 29 Tenpin-branded sites in the UK, reported a profit before tax of £3.6m for the 52 weeks ended December 29th, compared with a loss of £0.1m the previous year.
Meanwhile, the cash position also turned positive, moving from net debt of £0.7m at the end of 2012 to net cash of £2.1m at the end of 2013.
Essenden said it implemented a number of 'operational improvements' during the year to support sales growth, including technological changes to maximise lane bookings and unlock areas of inefficiency.
Revenue totalled £45.6m, down from £47.1m previously, while like-for-like (LFL) sales increased by 0.6%.
As for the current year, however, LFL sales were up an impressive 13.5% in the 11 weeks to March 16th.
'The return to GDP growth and rising employment should in time help our business which depends on confidence in consumer spending,' Basing said.
- See more at: hxxp://www.ifamagazine.com/news/essenden-shares-surge-on-profit-turnaround-strong-start-to-2014-295157#sthash.c2HoysIN.dpuf|
The 20m loan notes were always there and anyone doing the most superficial research, would i hope take that into account when calculating EV. They have merely turned them into shares. You are though correct to draw attention to the adjustment needed in calculation of eps on the 50m share total which should now be used in calculations. The increase in revenues does point to a very significant increase in profits and given the market is already looking ahead to earnings, the rise in share price seems appropriate. I almost sold out today as these microcaps tend to fall back after such steep rises but i cancelled the transaction, after which it rose another 10%. happy holder.|
|paxman: More back of envelope calculations:
Eps of 16.7p so EPS of 7.2p after loan note conversion.
This year's interest saving after loan note conversion roughly equal to the positive impairment figure of last year. So no change there.
Current year to date profits growth running at £300,000 times 13.5 so profit up £4 m if this stronger trading continues.
If it does, profits will roughly double this year. So EPS at 14.4p on expanded equity. Probably more tax to pay, so call it current year EPS of 12p.
P/E for a company with this operational gearing, net cash, and increasing profits at 100%, say 12 to 15 so share price of 145 p to 180p by the interims?
Also, a transformational acquisition in the works.|
|battlebus2: Let's also not forget there will be a transformational acquisition soon.
That will also transform the share price.|
|glennborthwick: the more i look at it the more i like it. On target for earnings of 9p against a share price of 43p.
Must get my head around the debt. Statements seem to say debt free|
|battlebus2: Share price still falling down over 35% since April! Results needed asap.|
|battlebus2: Results should be this month and i'm connecting the recent fall in the share price to the great summer we have had and possibly less visits but with the last update in May saying they should be debt free and the possibility the weather has had less of an impact i'm looking forward to these results. This summer was a one in ten chance so normal service resuming no doubt. They could also have another card up their sleeve but we will see.|
Essenden share price data is direct from the London Stock Exchange