Powerleague Share Discussion Threads

[slapdash] 06/3/2006 16:45

merroth - 2008 is a long time away..... to be on a P/E of 12 or for a gain from £2 to £2.80.....

By contrast Powerleague is on a forward rating of about 13 from mid-year...

it has more sites than Goals and is just better value.....

Slapper

[merroth] 06/3/2006 16:38

good question, haven't seen the brokers revised figures as yet but will try to get hold of them.

I can remember that doing my analysis on their rollout strategy and looking at cashflows etc based on a PE of 12 in 2008 they should be worth around £2.80. I'd guess these results make them pretty much on track for that.

[sheik yerbouti] 06/3/2006 16:13

What is the eps forecast for 2006 for Goal?

[merroth] 06/3/2006 15:54

pe is misleading for GOAL as it is still in the infancy of its rollout. the centres added during the year haven't made a full year's contribution and so a pe ratio based on 2005 results isn't appropriate. Try doing a pe on2006 figures and even project to 2007 and you'll see why the sharpice went up 6.5pence today!!!

[sheik yerbouti] 06/3/2006 15:34

They are both going places. Problem with Goal is they are on a pe ratio of 41 now. Powerleague on a pe ratio of 19, dropping to 13 this year.

[merroth] 06/3/2006 10:21

ahhhh lovely. Nice reporting from GOAL, new centres open, more in the pipeline for the next two years, allfinancing in place under existing facility and profitability and margins increasing - all of that and world cup year as well. Forgot PWR, GOAL is the 5-a-side operator that is going places (and yes i do hold some)

[merroth] 02/3/2006 14:11

Goals Soccer Centres releases results on monday. Though the same industry they are much more bullish, have better PR and hasten to point out how their centres use better surfaces etc etc than PWR. Will be interesting to see how the market reacts to them. My guess is that they are getting more value and a better P/E than PWR simply due to their bullishness with the city (backed by good fundies of course).

Wait and see!

[roodboy] 02/3/2006 11:16

Catford - not the nicest of areas but the nearest one to me!

I checked yesterday and the gym just opened in Jan - some other centres also have these 'Power For Life' gyms - only £18 a month to join and no joining fee - they are giving free gym vouchers to all the footy players so i assume some will end up signing up monthly - if they roll this cheap gym concept out across all the centres it could be a great extra revenue stream

[slapdash] 01/3/2006 22:56

roodby - which center do you play at????

Slap

[sheik yerbouti] 01/3/2006 16:30

Sounds good roodboy. A few buyers appearing today.

[roodboy] 01/3/2006 15:16

if anyone is interested I actually play regularly at a Powerleague site

they are 6 divisions on the night I play with 7/8 teams in each division and each team pays about £35 each week for a 50min match (its not cheap but people are willing to pay that much for an organised game with referee etc) - results are posted online the next day with league positions and future fixtures etc (i think this is a nice touch) - the place is generally well managed

they have also recently opened a gym at the centre - the monthly fee for joining is lower than other comparable places so it does seem to be attracting customers (about £20 a month i think)- I dont know whether this is something they plan to roll out across all their centres

they also seem to be trying to raise the profile of the bar area and that is of course another revenue stream - e.g. for the england game tonight they have drinks promotions etc

Anyway i bought shares after seeing how busy they were most nights - i guess the key is to keep opening new sites as there is massive demand for the product

[beaufort1] 01/3/2006 11:35

Slapper -
Many thanks for the sensible analysis

[tuckermaestro] 01/3/2006 10:29

It's all about the world cup, especially if England do well. It's all about filling the capacity during off peak times - so like the way they are cosying up with the schools.

[slapdash] 28/2/2006 20:59

ok lets do some analysis...

EPS for H2 should be 2.5p if target of 3.7p for full-year is to be met.

EPS for H1 2006 will be the same weighting of full year estimate of 5.2p ( i.e. 32% of earnings in H1) gives us 1.7p in H1 2006...

So in total for a calander figure in 2006 of about 4.2p. That gives a P/E of about 16.5 times (calander figure for 2006).

For financial year 2006 we have earnings expected of 3.7p which with a stock price of 69p gives P/E of 18.7 times. We already know 2/3 of this is inline.

Earnings should be increased slightly given that we are at end February. So a conservative estimate of P/E of 16 times. Cashflow is significantly higher with it estimated at about 6.6 in 2006 and 7.9 in 2007. That gives us a very low price to cashflow rating. This cash should help to finance growth and therefore make net additions to the balance sheet's net assets.

At mid-year (i.e. financial year-end) in about four months we will be on a calander earnings rating of 13.3 times. SO ON FORWARD CALANDER EARNINGS RATING OF 13.3 TIMES AT YEAR-END IN FOUR MONTHS.

Balance sheet shows net assets of about £40m which isn't too bad against the market cap of about £60m. Company is far cheaper than Goals but growing slower but this is largely a function of its larger size. a better bet in my view and one that should continue to do well in a World Cup year.

This company is establishing a history of meetings its expectations and this should see it continuing to do well as the stock market likes reliability. We now also know that 2/3 of this finanical year is on track (eight months out of twelve) and will get another update on the full year in June).

Anyone follow all that???

Slapper

[sheik yerbouti] 28/2/2006 16:31

Nice dip to buy imo. It's the usual results day fall as short termers get out- look at CSR today!

[roodboy] 28/2/2006 15:54

why the fall? am i missing something in the results?

[alansmith23] 28/2/2006 15:06

Strangely muted response to excellent figures?



Interim Results for the six months ended 31 December 2005

Powerleague scores with 107% increase in profit

POWERLEAGUE - The Champions of 5 a-side

Powerleague is the leading commercial operator of 5 a-side football centres. The
Group currently has 32 centres encompassing 339 floodlit, all-weather outdoor
pitches, representing an increase of 24% on the previous year. We are
geographically spread throughout the UK and attract around 85,000 players to
our venues each week, representing an increase of 13% on the previous year.

* Sales up 21% to £9.5 million

* EBITDA up 19% to £2.9 million

* Pre-tax profit increased 107% to £1.4 million

* Earnings per share increased by 148% to 1.19p (2004: 0.48p)

* Cash generated from operating activities of £2.6 million, up from
£1.5 million

* Two new centres opened in the period

* New sponsorship agreements with

* Xbox - headline sponsorship extended to 2008

* Nike - one year event and football sponsorship agreement

* Lucozade - new three year sponsorship agreement

Since 31 December 2005

* Budweiser - new two year sponsorship agreement

* Braun - major World Cup event

[slapdash] 28/2/2006 07:48

All looks nice really....

Slapper

[sheik yerbouti] 28/2/2006 07:38

Looking good, everything on track, generating cash, strong growth.

[dgh11] 28/2/2006 07:29

eps up 148% at 1.19 fully diluted up 100%

could augur well for full year

d

[beaufort1] 27/2/2006 17:23

results tomorrow?

[saltedcrab] 27/2/2006 13:35

nice 100k trade

[muzzy123] 26/2/2006 14:58

Watford Powerleague is having good business...its been pretty busy

R

[saltedcrab] 26/2/2006 14:51

looks ready for 80p the week imnho