|Just Car Clinics Group
||EPS - Basic
||Market Cap (m)
Real-Time news about Just Car Clinic (London Stock Exchange): 0 recent articles
|littleredrooster: a net effective yield of about 5%
Someone has done even better.
Marcel Springorum May 25, 2012 at 4:50 PM
I currently hold Just Car Clinics ( JCR.L ). The shares were listed in London and I bought in on the delisting announcement when the share price tanked. They are basically a panel beater which I picked up at around 2.2X 5 year average PTP.
I've held them or nearly a year. There's a matched bargain system in place but I prefer to keep holding the shares and receive my near 12% annual divi. :O)|
Sold all mine in the tender which was close to fully subscribed. I think this leaves the share base at sub 10m shares and so business now cheap. it was always about the need to realise some cash for me and the worry that the next liquidity event could be sometime. Good luck everyone and happy investing. Off to look at NARS share price now!|
There is no latest share price. It delisted and so you can only sell your shares if you go through a matched baragin arrangement. Still pays dividends. Details on the company website|
|glenowen: Can anyone let me know how you can access the latest share price? I have checked the Brewin Dolphin, Stocktrade and Just Car websites, but scan find no link. Cheers.|
|liarspoker: I like the results. Nice cashflow.
No affect on the share price though. ;O)|
|deswalker: I've just posted this on the ACZ thread. It might not be popular around here but still might be of interest to JCR holders. All IMO and DYOR.
Coincidentally the now delisted JCR have just issued their Finals for 2011.
They show a pre-exceptional EBITDA of £682k, net-debt of £2.363m and 13.149m shares in issue.
Now I know ACZ and JCR are in different sectors but I'd suggest there is at the very least a partial read-through.
Suppose x is the JCR price in pence and y is its current EV / EBITDA ratio. We have ...
13,149,000 x / 100 + 2,363,000 = 682,000 y
A JCR share price of 20p (ie that immediately prior to delisting) implies y = 7.32 cf ACZ's EV / EBITDA ratio of 1.75 !! Yet those shareholders who continue to hold JCR seem to think it is good value at the delisting level.
Nobody can tell me that JCR is a better investment than ACZ right now. Not even close.|
|harrogate: Less miles driven, less claims since people have high excesses which hits the small very profitable repairs that used to be the cream, insurers driving cost down, technology meaning more repairs done by mobile repair firms ... No evidence that I can see that the investment in Kitemark and quality etc means that the smaller bodyshops are going out of business as we all hoped.
I agree on the share price ..glad given the NARS warning that i can't see what the price might be|
|liarspoker: Why do you think the market has changed permanantly harrogate ?
Like you I spoke to management and they confirmed that they were chasing a progressive dividend. If performance has been poor then it makes sense to cut the divi. At least the daily share price won't head south. :O)|
|aleman: The profit number was spoiled by a rise in inventories despite a fall in business, most probably down to expanding the complementary retail services that raised margin a bit. THe strong debt performance would have been even better if payables hadn't fallen £650k , although you would expect some fall on weaker turnover. A slightly less bad H2 weatherwise and better margins could easily see could see pretax profit at £700k and operating cashflow before working capital changes and capex of £1.2m, with higher numbers in prospect if the insurance market starts to see premium pressures and recent oil price weakness sees petrol ease back a touch. So business is thin and numbers are weak but fundamentals don't look poor for the current market cap, debt and dividend. Underlying profit still looks to be running around £1m+ per year pretax and they have stated they expect the business to remain profitable and continue to gain market share. If the shares hadn't fallen by half they would only have been on about 4 times underlying pretax profit and operating cashflow in a bad year - probably why they want to delist it. Now, they are on only about 2 times and possibly lower if the market shows only a modest improvement and probably lower when the listing costs of £100k are knocked off. I would not say that was poor fundamentals at all, although the market looks set to remain very difficult for a while. I think the key is the gaining market share. The market will recover at some point, if only weakly, and JCR looks set to have a bigger market share and higher margins when it happens. The problem is the stockmarket just doesn't want to look past the current weak market so the low share price and cost of the listing must be annoying to directors who own half the company. It's one of the problems with AIM that steady companies like this get clobbered after one poor spell of weather despite years of relatively consistent results yet miners and pharmas go stratospheric on rumours.|
|microscope: When they 'carefully considered the commercial benefits', was the share price plummeting 40% on the day of the RNS part of their calculation, and did they think this would 'make negotiations easier with suppliers'?
The trouble with this, is that a lot of JCR shareholders will presumably catch up with the news over the weekend and I'd be very surprised if there isn't another big fall on Monday.
There's little incentive that I can see for continuing to hold and the shares as they will only will become imho very difficult to trade on the matched bargain for even a fraction of realistic value I think.
In one sense then, while the company clearly has a value going forward, it is my view that the shares will have very little.
Management to their credit have been shareholder accessible over the years, and hopefully this proposal will be reversed before it ever gets to the EGM.
If however they are hell bent on doing this then any remaining shareholders need to ask some serious questions about the company's current cash position etc. Remember the interims refer to a historic period, not cash as of end of September.
It's just my hunch, a potential symptom of something forcing their hand to do this that I have seen several times on AIM.
The share price had led me to expect a profit warning already, but instead came this poorly thought out kick in the guts for shareholders.
Management need to 'listen up good' immediately, for their own longer term benefit too imho and their credibility.
As a potential dealmaker with the company my first question would be 'Why did you leave AIM'? And I would be highly suspicious of whatever response I got, and frankly very liable to move any business elsewhere.
I have no personal doubt it is a negative for doing business, not a positive.
All imho again, of course.
PS: Harrogate just seen your post, 'they say' they have 75%. Is that only to put people off the scent, I wonder?|
Just Car Clinics share price data is direct from the London Stock Exchange