Robinson Share Discussion Threads

[davidosh] 04/7/2011 08:32

commercial property should still get a yield valuation of around 7-8% so that values the property at about £6m IMO and with the £2.6m received in cash that places an overall value of £8m plus on the deal for the 24% of the group revenues that had been draining the company rather than adding to the bottom line.

If Sonoco do not take up the option to buy Goyt Side Road it also means that RBN will have a rental book very close to a million a year IMO. The business is pretty much in there for free now.

[maxcashflow] 04/7/2011 08:14

I agree, great news this morning. I wonder how much of the pension scheme will go with the sale?

[ed 123] 04/7/2011 08:06

Very decent.

No more losses from that division; £2.6 million from the sale and still holding the property (possible sale ahead - value perhaps £4.5 million assuming 10% yield).

That's a nice deal for share holders.

[battlebus2] 04/7/2011 07:33

Seems a decent disposal this morning and after two years rent free they will pay 0.45 million a year rent.

[davidosh] 12/6/2011 14:09

Broker coverage has been initiated by WH Ireland...

The food and toiletries markets which Robinson serves in Western Europe are
relatively resilient to recession, as consumer demand for these products is fairly constant, while the consumer markets of Central Europe present a major growth opportunity. The asset-base provided by the property portfolio in Chesterfield gives a platform to fund acquisitions as appropriate while generating a meaningful return in rents shorter-term. The shares are trading on modest P/E multiples and at a substantial discount to NAV (98.1p Dec10 excluding 34.6p attributable to the pension surplus). The generous dividend yield is an additional attraction. We initiate coverage with a BUY recommendation.

I guess they will have a number of private client brokerages and smaller institutions that they will have on their mail out list who may be interested but still feel the majority of any surplus stock is likely to go to a few private investors whilst the company remains sub £30m market cap and relatively unknown due to this being the first ever coverage by a broker. We must remember that 70% of the shares are still held by about 100 or so family members.

[judgement] 05/6/2011 23:01

Also an aimzine item this month.

[battlebus2] 05/6/2011 22:56

Good to have some inside knowledge chris! Do you expect the pub situation to be sorted out?

[chris5443] 05/6/2011 22:50

had a chat with somebody on the shop floor about it some year ago and no i am in not employmen of robinsons now got out some years ago but have 3 house on chatsworth rd a cross from the old factory

[davidosh] 05/6/2011 19:23

Chris5433....How do you know that the Pub is not tenanted and Robinsons may even own the freehold and are simply keeping it managed or rented until an alternative development can proceed ?

Has there been anything in the local newspaper about an issue with the pub or is it just a hunch that you have ?

[battlebus2] 05/6/2011 18:59

Chris5433 your not in employment with Robs now.

[chris5443] 05/6/2011 15:59

and have worked for Robinson

[chris5443] 05/6/2011 15:58

yes that the pub and to local drinks in the photo lol

[davidosh] 05/6/2011 13:16

There is a good review of the presentation and thread on TMF

[davidosh] 01/6/2011 18:31

I cannot see how that pub is causing an access problem as all those shuttered up buildings alongside are all on the main road too. It does look like the pub is last man standing but every landlord has a price at which it will be worth selling up and pubs are not exactly goldmines like they used to be !

[judgement] 01/6/2011 17:08

Is this the development plan?

[judgement] 01/6/2011 17:00

Chris, Is this the pub and house to which you refer?

[davidosh] 31/5/2011 10:52

Just so that you all know about the event on Thursday...

[battlebus2] 30/5/2011 13:27

Thanks for the info don't know the area but the land isn't priced into the shares as i see it so plenty of upside yet.

[chris5443] 30/5/2011 12:28

Been holding from Nov 2009 hopeing for sale of the land in Chesterfield

[chris5443] 30/5/2011 12:05

Robinsons have empty the house and boarded up for the last 5 years near the site of the old cotton wool factory with some old building still standing the pub (ale house) is sat in between the Robinsons land the old building could go like chester street in chesterfield made in to flats

[davidosh] 30/5/2011 10:26

Chris5443...Can you explain a bit more about the need to buy a pub? Which one and what is the site you are referring to ? what are the plans for the site that you know about?

[chris5443] 29/5/2011 21:33

Robinsons need to buy the pub to get access to the land for building and is some of the old building listed but a very nice lot of land there

[davidosh] 23/5/2011 21:06

I agree that £1 should be possible and may well be the price after the presentation. There will be quite a few reviews and discussion no doubt on the TMF website. I will put a link from here.

There will only ever be a few of us here as I understand there are only about 130 shareholders altogether in RBN and almost 90 of those are Robinsons by name or close family members. I do not mind that though as the company is well run for all stakeholders and that dividend payment throughout the downturn shows that we are well cared for. I suspect property sales may well provide a special dividend or two in the future.