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Robinson Plc Share Discussion Threads
Showing 301 to 324 of 325 messages
|fomela is a disaster.|
|Thx Arthur , I'm hopeful it'll find its way back to long suffering shareholders in some way shape or form but as it stands I'd be happy to move on once the bulk of the value is reflected in the share price as they seem less adept at managing their UK business than most of the competition|
not an rns the annual report:
The Group has surplus properties and other properties not used exclusively in the manufacture of packaging products with a total value at the end of 2015 of £4.6m. These properties arise from the transfer or sale of previous manufacturing businesses. Some of these properties are let out to tenants on contracts that vary in length between 1 month and 2 years, with nearly all contracts expiring on or before the end of 2016. The annual gross rental income earned during the year was £0.4m representing a 10% yield. The intention of the Group is, over time, to realise the maximum value from surplus properties and reinvest receipts in developing its packaging business. Investments in AIM trading companies can attract 100% relief from Inheritance Tax (Business Property Relief). Tax counsel have advised that the company qualifies for this relief since the properties held are residue from previous trading activities and there is an active plan to dispose of them.
No but I read it in an RNS somewhere.
Did you speak to Guy Robinson re plans for sale proceeds?
|Must admit I bought a few of these recently but they're still falling towards £1 which is where I originally said they'd be worth a punt. I think planning permission is a virtual certainty as the council seem keen on it and that land could be worth a good few quid although apparantly it's all going back into the business.|
No news yet. Poor results in Aug, bored sellers and MM operating a wide spread. Importantly I can't see any board sellers.|
|Has planning news leaked here?|
|Thanks Rhomboid - I was thinking the same. Only have a small holding here, but just wondering if it's time to clear my position & move on. Suspect you're right -it's just boredom & at some stage we'll get a bounce when the property issue moves forward. Thanks again|
|Just folk getting bored of waiting for planning verdict I'd guess, the underlying business is cheap but not wildly so|
|Does anybody have any ideas of the reason for the falling SP?|
|I'm holding a small position here , not impressed with trading but I'm happy to wait for property angle to work through , looking at development plan it could be worth the now reduced M/Cap!|
|have the poish profits evaporated or is uk losing money.|
|Should be news on the Walton Works planning application soon, if it's given the go ahead I can see these spiking to £2.30 plus.|
|"Reported FY 2015 results that are modestly ahead of our expectations at the adj PBT level but we are leaving our 2016/2017 forecasts essentially unchanged given the tough operating environment." - finnCap update
|Cross post from elsewhere;
There was an interesting snippet from one of my holdings Robinson (LON:RBN),
Trading not quite what I'd want to see but;
"A planning application has been submitted to redevelop 24 acres of land previously used in our former healthcare business in Chesterfield. It is anticipated that the application will be determined in the summer, which would allow for negotiations to take place with prospective developers during the second half of 2016."
The Annual report says that the surplus land has various leases but all end this year , book value is 4.6m but if consent for housing is achieved , I can see it being worth a multiple of that. In order not to breach IHT rules Robinson had to have a plan for the surplus land to be disposed of in order not to be deemed a prop. company.
This is the culmination of years of planning and at an industry std. Valuation metric of a third of built out value this is transformational...but the market appears to have missed the importance. At say 15 homes per acre and say £175,000 each , a third of that is not far off the M/Cap of this company. I might be wrong about the value but it is certainly about to be unlocked .
hxxp://www.robinsonpackaging.com/wp-content/uploads/2016/04/FINANCIAL-STATEMENTS-PUBLISHED.pdf - See more at: hxxp://www.stockopedia.com/content/small-cap-value-report-5-may-2016-jsg-tni-goal-emr-130277/#.dpuf|
|how does maddox make such margin in a commodity business.lodz struggles ??|
|I make it just under 14p normalized diluted EPS (taking account of amortized intangibles on acq) with a H2 weighting.
Sounds like Lodz performance will be improved going into 2016.|
|Further the net margins at Maddock are astonishing way above any peer company I can find.rpc linpac tex (plastics division) coral ,how can this be.|
|Cash improved short term only by massive increase 4 mill in short term payables.|
Not a growth business ?
it invested in Maddox and we have yet to see the best of that. it was making 2.3 million pa
I think given a good run we could get to 4 a year.
hidden property also adds value.
I have some detailed numbers on this if you want them.
Robinson appears to make an operating profit of about £2.5m year in year out. It's not a growth business so if they sold it they would probably get between 6 and 8 times this. But then there is the debt.
As for the assets net tangible asset value is about £16m but £4m of this is a pension asset which they will never be able to get their hands on (OK there's probably also a corresponding tax liability which they will never have to pay).
I understand there is some property with development potential so there may be some upside there but does the total work out to more than the current market cap of £28m? It looks to me as though if you're buying or holding at these prices you're only getting fair value if the best case scenario with regard to the property assets materialises. If it doesn't you're paying way too much.
Just my opinion
you are entitled to your view. Opinion or whatever.
Based on what do you get 100p value.