|I think Goal's need to listen to FIFA and the FA's message. FIFA and the FA are trying to promote FUTSAL to help develop young players.
Pele, Ronaldo, Ronaldinho, Messi, Cotiniho(?) all played Futsal before they played football. I'm a football coach and I've seen players improve significantly having only played a few games of Futsal in the "correct" environment fast sports hall surface, heavy low bounce size 3/4 Futsal ball.
Brazil, Chile, Peru, Spain, Protugal school chidren have to play Futsal until they are fourteen! Mandatory...at their schools.
Goals need to partner drop or reduce the wierd 4G 5-aside and attract the premier league acadamies and or local clubs with a Futsal offering. They could also let the courts to Basketball, Netball or Hockey clubs too (Badminton, indoor tennis etc).
The only Goals centres Ive been to look tired and unfit for purpose so suspect they will need more money for a refurb before they'll attract a new wave of customers and income.|
|interim looks amazing
operating cash flow before working capital 5.3m£ that almost cover the 5.7m of current laibilities.. what is the reason of the bigg fall? us election?|
|Been looking at GOAL for a while and decided that I would join you. Bought an opening tranche today and will top up on positive updates.|
|AIM’s rejuvenated growth stories
Hats off to management for a terrific turnaround!
|When I saw the headline this morning, I was disappointed as I thought we were going to see details of a planned discounted placing. Instead, I see that we've already raised a gross £16.75m, that the cash is to be used to upgrade the stock etc., and that it was all done at £1 per share - not at an insiders' discount and higher than the price at which many of us bargain hunters bought recently.
The fact that Chris Mills is a NED is also telling as it's probably him who was the main driver behind this move.
I think it's excellent news and can easily see the shares being 50% higher by the end of the year.|
|These are now looking good value but momentum is against it at the moment , will be sitting on the sidelines to wait for the price to stabilise before potentially going in.|
|Yes but lfl sales declined by over 11% in the second half which is pretty serious.
I'd agree that it's not a disaster, the price seems to reflect the new reality if indeed it is a new reality. As far as the grant funding goes I'm not sure it's coming from the taxpayer, it appears some of it may be coming from the Premier League and the like.
I don't think i'll take the loss on these just yet, but if they suffer further big falls in lfl sales then i'll take this one on the chin.|
|Like most businesses I guess competition will occur at some point, the question is how long the grant funded rivals will be grant funded given all the cuts that will need to take place, also how much are these really biting into the Goal Soccer model, UK LFL sales were down 6 - 7%, could this be due to weather etc, I don't know, US sales were up around 8% and that is where the future appears to lie, the update wasn't all negative imho and in the end the share price didn't dip too much so much of it appears to be in the price.|
|I'm just worried that it is not merely the ups and downs of business and that the increasing competition is going to permanently reduce earnings.
Of course at this price they're not on a stupid multiple and there does still appear to be growth opportunities in the States.|
|Strip out the asset write down and dropping the dividend are the results really horrid, look at the share price graph, this was all expected and could be viewed as the ups and downs of a business, the share price was double the figure a year ago, anyone who bought then is clearly in the brown stuff however anyone who bought then clearly didn't do much research as the business was way overvalued.|
|Most of that was what I expected apart from asset write down and the dividend cut, I'm not interested in a dividend in a share like this anyway, seems like the UK market is hard (we knew this) and the future lies in the US which offers much more potential, not many major surprises and a lot of this was already in the price.|
|I agree that the new guy looks interesting but the question is with that balance sheet and stated underinvestment in the product will there be a fund raising to allow him to do what he needs. Definitely watching this now.|
|Well FWIW I've just bought; best of all worlds IMO, significant discount to TNAV, and P/E less than 10, new boss with inevitable plans to realise value - you couldn't ask for more in a share.|
|The underlying figures had already been forecast, but why didn't they mention the asset writedowns?
I'm glad I didn't buy anymore now, after the statement that they are facing increasing competition from grant funded pitches.|
|Looks as though my gut feel was right - Poor results.
2015 was a disappointing year for the Group. Group sales decreased by 4.9% to £33.0m and underlying profit before tax reduced by 21.7% to £8.3m.
|Is anyone still here?
The price just keeps on falling. I'm tempted to buy some more at these levels. As far as I can see they are now on a p/e of about 10* this years expected profit (according to the most recent guidance) yet this year has not been great for them. Could be an opportunity.|
|Well I've actually started buying these this week, bought yesterday and today, averaging around £1.15, happy to add a few more if the price heads towards £1, I've done my research and I'm happy to hold these for 6 - 18 months, pencilled in a target price of £1.60ish.
The US is what could send this much higher at some point imho, could be a slow burn though.
For the record I just think this is one of those shares that trades up and down between a range because it's profits are relatively stable it , i.e. £1 - £2.50, I think people read too much into volatility in shares, at the end of the day is the company 50% worse than it was in Feb / March 2015, certainly not imho, to get back up there it needs to rise circa 100%, I love the irrational moves of the stock market ! I find if you read too much into movements you miss a lot of opportunities.|
|I don't know what the reason for the fall is. It seems to me that even with no real growth these shares are not bad value, especially at this price. I just can't see their problems being structural, I mean they sell beer and football for god's sake. If that isn't a winning combination then I don't know what is.
I would also hazard a guess that with a constant number of centres that profit is always going to fluctuate with the vagaries of the weather etc.
As for the states, the first centre seems to have been a great success, hopefully they can repeat this with more centres it seems their best hope for growth as there can't be too many places in the UK for them to open.
I could imagine the rate of growth slowing though. It seems with the current management resources they can open about two sites a year so about %5 growth in numbers at the moment but unless the rate of openings goes up the rate of growth will decrease over time.
I'm still happy to hold, I expect them to continue making good profits for years to come, I just don't see any reason why they shouldn't.
|Down again today - Looks to be no buying support at the moment - If fall is not a result of a sell tip then (imo) possibly momentum driven by the fear of results and or current usage being below expectations - Recent weather conditions rain - fog - snow cannot be helping.
At the rate of fall over the last few weeks could possibly break the 100p barrier.
Could one of the reasons for the fall be that the marginal net contribution from each new centre may be arithmetic with very little gearing ?
OR a worry about the planned expansion in the US which has been the graveyard of very many British coys eg: Tesco for 1 . I am sure readers of this thread can post many other examples -|
Thanks for your reply.
I nearly bought a couple of months ago at around £1.30 however I missed the boat and it ran up quite quickly.
I quite like the business and it's a pretty easy one to understand which is always good when investing.
Personally I think the main upside here is in the USA with new sites gradually opening, obviously the company believes this as well, I think the business is quite well protected in terms of competition, there wouldn't be much point in rivals opening in the same locations etc.
I'd be happier if they had a little less debt however this has improved a lot over the years and isn't a big concern, as an investor I'd rather they didn't pay a dividend as you don't really buy this kind of thing for it's income, I'd rather they put that in the bank and built up some cash.
The price is drifting lower on small sales at the moment so I will see how this plays out, I may look to build a position over time, the wider markets don't bother me too much with this kind of share / business, it's pretty much halved from a peak around £2.40 as well.
Very interested but waiting.
Yes I'm still holding. Obviously it would have been better to have taken a quick 25% and then bought back in but that's the way it goes.
I'm not planning on buying any more however, as I am hoping that the market will keep falling and throw up some really interesting opportunities so I'm hanging on to my cash. I still like GOAL and have seen all sorts of arguments that their problems are structural and so on but I can't see it myself. Playing and watching football (and for that matter drinking) remains a very popular pastime amongst millions of people and I can't see that changing any time soon. If they're going to make ~£8m pre tax this year then after tax it should be ~£6.5m leaving them on a p/ of around 11-12 which is hardly lofty. If expansion into America is a success as it appears to have been with the maiden centre then there is plenty of scope for growth in the medium term.
And I also don't agree that the TNAV is not a useful metric. Whilst it's true that their properties are long leasehold and not freehold it does give an indication of the sort of capital that would be required to replicate the business, ie it's not a business where the key staff can just walk out and set up in competition. It's not as though they're going out of business anyway. And of course it takes time to find suitable sites, get planning permission etc.
Just a few of my thoughts, I think if you get the chance to buy them at £1 then I think you'd be daft not to give it some serious thought.
What do you think Eastbourne?