Yorkshire Grp. Share Discussion Threads

[mrkournikova] 27/5/2003 22:52

Hi,

Paul Scott is currently very keen on Yorkshire Group.

See:



Regards

Mr K

[tonyleongson] 27/5/2003 18:22

hmm what's the reason for the rise?
no RNS. anyone help me out here?

[biomax] 27/5/2003 09:27

strong buy!

[addict] 20/5/2003 08:37

Lord c,
Are you out there?I have an interesting one for you to cast your eye over-and it's not this one!
Regards,
O/T

[cg1953] 17/5/2003 06:37

gyllenhammars average purchase price must be about -15pence now.he started buying at -40 plus

[panagos] 16/5/2003 17:20

As farsight says stinks of LGD, beware....Mcap v Turnover looks like its bust, even if private ivestor have large stakes (was the case with lgd)

All imho dyor etc etc

PS on me monitor though ;-

[hosede] 16/5/2003 17:15

Gyllenhammar's holding up to 20.35% - is he buying up to 30% before making a bid? He has certainly managed to get the shares easily - the price has scarcely moved!

[dimitry12] 16/5/2003 10:16

something going on, 2.8 million shares traded

[shawzie] 13/5/2003 22:18

bird of dawning
had a quick look at CHE Group - ordinary shareholder nav £16M and market cap £8M
looks good but the company cannot maintain a steady course - remember ordinary
shareholder nav was £67M in 1999 and assets are still being sold.

[dennis russell] 13/5/2003 00:32

gyllenhammar has just bought another 1M shares, taking his holding up to almost15%

[shawzie] 12/5/2003 16:07

the following with thanks to "washbrook" posting on Montpellier site.

2.5, (26.5) at 09:10pm European Colour[euc]
06.05.03 :an article in the Independent (Sat) reports: the shares rose 3p to 24p as Jarvis Porter, the cash shell, increased its stake 29.7 per cent after buying 4.8 million shares at 21p each. Behind Jarvis Porter is the Swedish value investor Peter Gyllenhammar who is the company's majority shareholder using his Montpellier investment vehicle. It is thought Mr Gyllenhammar may be about to bid for European Colour.
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Europen Colour supplies pigments for inks, etc., - seems a good fit to merge with Yorkshire - possible takeover of Yorkshire ?
Now worth a close watch.

[cg1953] 01/5/2003 11:21

shawzie.
absolutely right on your comments.
this company has over the past 36 months
consistently and seriously misled shareholders
in actions i believe are tantamount to fraud.

i bt at -68 saw them upto -82 and then sold at -40

originally they were liquidating assets
with the aim of 'returning cash/value' to shareholders.
[thats why i bought likewise; ahg,fthm,lnt,lfc.]
then an abrupt change of mind. they bought a us
chemical company and loaded up on debt at the
top of the cycle.
all this done under the disastrous 'company doctor' who led
'albert fisher' to disaster. [i forget his name]
no consolation. many proffesional investors screwed on this one.
gyllenhammar and others.

p.s. just been in leeds. i see they have been trying to dispose of 16 acres[former hq] near the city centre on leeds road. been for sale for some months now?????

[shawzie] 01/5/2003 11:01

will have a quick look at CEU

[bird of dawning] 01/5/2003 02:59

The wipeout of working capital and the declining fundamentals now appearing still leave YOR trading at around 12.5% of its NAV. Perhaps they could also go in for some `zero tolerance' recouping of the debtors situation. On the positive side gearing has now been reduced to 20%.

I guess there's not too many companies trading at such a discount to NAV. (CEU is one such company). There's still room to manouevre, lets hope the guys in charge (no...not the shareholders!) can use the opportunity to good effect.
Regards

[shawzie] 01/5/2003 01:34

Pat Barrett, Chairman, commented:
"Trading conditions deteriorated markedly in the second half, which has
adversely affected the Group's performance, and this poor performance has
continued in 2003, with no recovery in trading conditions apparent in the first
few months in the markets in which the Group operates.

dennis russell - the above indicates that 2003 is already producing further trading losses. The Board has been getting it wrong for years and the current directors should all resign.
Stocks carried amount to about 4 months of sales, and one assumes
that part of such stocks are raw material and part finished products.
Depending on the mix stockholding could be more than 4 months.
Perhaps stockholding should be nearer 2 months or purchased "just in time".

No matter which way you look at it, this is a badly run company and the CITY
has got the market cap about right.

[dennis russell] 30/4/2003 16:54

Shawzie - finals show that, after provisions of £2.3M, Stocks were £35M. I doubt if this is an overestimate of realisable value, as the accounts seem to be of the'chuck everything in including the kitchen sink' type of write-down by the incoming management! As I read it, Trading losses were more or less balanced by reductions in working capital. Tough times in the fabric trade, but I think YOR will survive

[jhan66] 30/4/2003 12:17

Thats a terrible thing to say about this board of directors.

Poor, yes. Inept, sure.
Criminal intent to undermine the owners & cheat them of their assets, refusing earlier offers on non-core divisions, carefully choosing compliant receivers plus a dozen other strange practices. No. Never.

About time they started to perform though.

[shawzie] 30/4/2003 11:26

I do not know what the current stock value is, but it is probably greater than the current NAV of Yorkshire, about £24M. Unless stocks can be sold for book value (which is unlikely) then the company could be worth"less".

A possible survival strategy might be to retrench to the USA market or merge with a competitor.

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[bird of dawning] 30/4/2003 01:54

This company is not ready for the receiver yet.....but even if it was about to be liquidated it would remain a bargain. Please be reminded that YOR is now selling at a 66% discount to its liquidation value. Gearing is 67% which is reasonable for a manufacturing company.

Its a recovery play with a large `margin of safety' built in. Legendary value investor Benjamin Graham would have been watching this stock and at this level of safety, also buying.

Regards

[farsight] 29/4/2003 23:06

Smacks of LGD

[shawzie] 29/4/2003 14:47

Results are even worse than expected.
The directors of this company must have gone to the same school as the directors of Marconi, and a number of other companies where asset value has been ruined.
This company should have retrenched or closed its operations two years ago
and the value could have been given to shareholders.
Members of the board must know that China can produce similar products at cheaper prices and I see no future for Yorkshire.
It should cease trading immediately.

[donnydave] 24/4/2003 10:53

ASC MBO DOUBLE BAGGER
^ ^ ^ ^ ^ ^ ^ ^ ^ ^ ^
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[shawzie] 24/4/2003 01:05

ten times the current share price equals value of stock.

[dennis russell] 23/4/2003 19:01

The Interims suggested that the business was under control, and a 2002 loss of £10M, mostly non-cash write-down, would leave nav almost TEN times the share price