Powerleague Share Discussion Threads

[cupasoup2006] 10/7/2006 12:28

Slapdash,
Had a look at both sets of accounts and each company's depreciation policy on the three largest areas. They are: "Land & Buildings" (GSC and PLG both 50yrs);
"Pitches" (GSC 7 years, PLG 10 yrs); "Fix & Fittings" (GSC 4 yrs, PLG 10 yrs). It seems that GOALS hav a more conservative accounting policy.
I have also did a quick comparison on profits, Goals is making more profit on a lot less sites, any idea why?

[slapdash] 10/7/2006 11:30

In an evolution note (covers Powerleague so very biased) it says that Goals depreciate their sites over a longter period than Powerleague. So Goals is less conservative. I haven't done much research into it yet though but it could be material. You can go through it in both of the companies annual reports.

Slap

[cupasoup2006] 10/7/2006 11:00

Slapdash, I follow both companies and am confused by your comments on accountinmg policies and depreciation - can you be more specific.

[slapdash] 05/7/2006 15:42

well all I can say is currently:

Goal at 240p and powerleague at 70p

We will see which does best over the next year but it appears obvious to me it will be Powerleague. Goal has more aggressive policies in terms of accounting and growth. For example, its depreciation rate is less than Powerleagues.

Powerleague should easily meet its numbers especially as the City site it has was I believe a surprise and isn't taken into account on the earnings forecast.

[mehul500] 03/7/2006 17:12

according to investor's chronicle PWR is exempt from capital gains tax and inheritance tax

[gucci] 29/6/2006 12:33

looking good

[slapdash] 29/6/2006 12:15

This is starting to look interesting again. I bought previously in the mid-60s and sold above 80p.

High volumes and small mark up today. Trading I think is good from the last update and they should hit their forecasts.

Forward P/E for the coming calender year is about 13.5 times but I think it falls far lower for the year after that although I don't have the figures I would estimate 11-13 times. So if you think they can hit the numbers, which I do, we should get progress in terms of share price in the next year.

Been de-risked as trading update came out recently.

However, still a fairly long time until results (September I think) so my technical reason for buying in now (high volumes followed by mark up) could be a false signal and the share price could drift sideways or lower.

However, come September (after results and writeups) I expect the share price will again rise over 80p. I have bought a small position and may add depending on events.

IN SHORT FORWARD RATIO OF 13.5X (BASED ON EPS PREDICTION OF 5.2 FOR 07 FROM EVOLUTION).

Slap

[addicked] 31/5/2006 10:43

A good BUY recommndation in the Independent today, which also mentions that it is much better value than Goals:

Our view: Buy

Share price: 73.5p (+2.5p)

With the World Cup just around the corner, now is a good time to be an expanding a 5-a-side football centre business. Powerleague, Britain's premier player in this field, is doing just that. Yesterday, it announced the purchase of 10 new pitches in Bolton.

Powerleague plans to extensively upgrade this facility by returfing the pitches with the latest playing surface, revamping the changing rooms and adding a new sports bar to give punters a place to have an after-match pint. The acquisition in Bolton brings the total number of centres the group runs to 35, making it by far the largest national operator.

Yesterday's deal comes hot on the heels of Powerleague opening a centre in the City of London. At the time, it said forward bookings had been very strong. Now the group boasts that the Square Mile site has been its most successful launch to date, and in response to the high demand it has added an extra pitch.

As well as hiring out 5-a-side fields, Powerleague also generates cash by getting big companies to sponsor events it organises. It has signed sponsorship deals with Sony's Xbox, Nike and Lucozade, which, together with the money it gets from events it runs, account for 14 per cent of group earnings.

Analysts expect profits at Powerleague to rise to £4m this year and again to £5.6m in the year after. At 73.5p, the stock trades at just 15 times 2007 forecast earnings. That is a substantial discount to quoted rival Goals Soccer Centres, and one that is unjustified. Buy.

[peladon] 30/5/2006 07:45

Powerleague Group plc
26 May 2006


For immediate release: 30 May 2006


POWERLEAGUE GROUP PLC


FURTHER EXPANSION AT UKs LEADING 5-A-SIDE FOOTBALL OPERATOR

ACQUISITION OF CENTRE IN BOLTON AND TWO NEW BUILDS


Powerleague Group plc, the leading AIM listed commercial operator of 5-a-side
football centres in the UK, announces further expansion of its estate with the
recent successful opening of its City of London centre, imminent opening of
Powerleague Coventry and the acquisition of an existing 5-a-side operator in
Bolton.

The Bolton Centre has been acquired from an independent private operator and
currently has ten pitches all of which will be re-turfed with the latest fifth
generation playing surface. Powerleague will also extensively upgrade the
facilities, adding a new sports bar, revamping the changing rooms and completely
refitting the hospitality and reception areas. The full refurbishment programme
will be completed within the next four weeks.

The centre is ideally located at Long Lane, Leverhulme Park, just five minutes
from the City Centre and already hosts over 200 league teams. Market testing
suggests that high utilisation rates at peak times should be achieved in a short
period of time.

The acquisition of Bolton brings the total number of centres now operated by
Powerleague to 35, making it by far and away the largest national operator. With
the World Cup approaching, demand for five-a-side has never been stronger as is
evidenced at Powerleague's recently opened centre in the City of London, the
most successful launch of a Powerleague centre to date. In response to high
demand, particularly from the corporate market, Powerleague has added one
further pitch taking the total to five, three of which are under cover. A number
of events are being run at the centre including corporate hospitality functions
for major investment banks and city firms during the World Cup.

This week also sees the official opening of Powerleague's centre in Coventry,
which will be hosting the final of the UK's largest sponsored 5 a-side football
tournament - the Xbox 5s. Powerleague Coventry will be officially opened on
Wednesday, and comprises a state of the art football facility with ten rubber
crumb pitches, sports bar, and modern changing rooms. The centre also benefits
from a 'Power for Life' affordable gym. Powerleague has invested some £2 million
in this centre, which is located at Woodlands School and Sports College and
developed in conjunction with the School and Coventry City Council and forms
part of major leisure facility, which includes a gymnastics centre.

Commenting on the expansion and acquisition of Bolton, Claude Littner, Chairman
said: 'The business continues to trade strongly and our initiatives surrounding
the World Cup are proving fruitful. Our new centre in the City of London has had
a tremendous response and the launch of Powerleague Coventry later this week,
coupled with the Bolton acquisition completed last week, is in line with our
roll out programme. We are innovative in our approach, and the Company continues
to go from strength to strength. As always, we will seek strategic, earnings
enhancing opportunities within 5-a-side to further build shareholder value.'

For further information please visit www.powerleague.co.uk or contact:

Sean Tracey Matt Ridsdale / John West
Powerleague Group plc Tavistock Communications
Tel: [phone] Tel: [phone]

[egoi] 28/5/2006 12:56

Not a holder but fair write up here. Looks a promising company.

[rajbeers] 22/5/2006 15:42

is this and goals just going down in share price because of the end of season or is there something else?

[scumdog] 15/5/2006 11:45

dropping with the rest of the market IMO.

[mehul500] 15/5/2006 10:54

anyone know the real reason for the drop today? or is it just dropping with the rest of the market?

[gucci] 08/5/2006 12:50

2 at 81p and 2 at 85p

[gucci] 08/5/2006 09:31

looks like its getting ready for nest move up
bought a shed load today

[cupasoup2006] 27/4/2006 16:49

Is that Clod Littner?

[frances2] 27/4/2006 08:25

i think the ceo of powerleague is an adjudicator on nextweeks The Apprentice. did anyone spot that?

[sreed] 25/4/2006 18:57

Is it
--:-- Angola - Mauritius

on 29 April?

[gucci] 25/4/2006 14:45

that spoundsgood alan
on the cusp of a breakout here

[alansmith23] 25/4/2006 14:18

I reckon (if my basic maths are up to it) that if these were currently rated in-line with Goals, the share price would be approx 130.

Not sure why Goals have the punchy rating as I rate these far better value, a much superior nav, lower p/e, less debt, and the bigger company. Initially I was going to buy both but the valuation comparision just forced me to just add these. Lovely solid hold, heavy asset backing, with decent growth prospects, in these exciting days of the O+G minnows, these are a share you can just forget about.

an easy run up to 120 later this year.

[gucci] 25/4/2006 14:12

looks like there was some sort of overhang thats cleared now

[sreed] 25/4/2006 13:53

last mm at 85p

[frances2] 25/4/2006 13:00

A sudden wave of buys i see - might be the run to 100p this time. Whens the footie start?