Abbeycrest Share Discussion Threads

[wilddonkey] 18/7/2007 17:36

Would you like to share your reasoning ?
I agree by value metrics they are certainly undervalued, potentially by a large margin, however if you look at the iii board, it seems clear the management are hated by the employees. Judging by a recent post by "WhoseLaughingNow" (not even spelled correctly), if truly in management, they do look like idiots.

It's one of these situations where no matter how bad the management are you have to tell yourself it'll revert to mean.

[rainmaker] 18/7/2007 13:20

I think it's fairly safe bet that ACR will make further progress from current levels

regards

[nickcduk] 13/7/2007 08:12

Mixed trading statement today. Confirmed the obvious that the UK is still tough but more encouragingly overseas is ahead of expectations. I would expect the trend to continue to be honest as most of Europe and RoW is doing pretty well. Liked the good news about bearing down on costs further in Thailand. Will try and have a chat with the company if possible and report back in due course.

[rainmaker] 12/6/2007 13:15

Thanks Guys.Nick-I think you're right that ACR should concentrate on the UK's big High Street Jewellery Retailers like Argos and Signet. As there're now manufacturing abroad I feel they should use their size to their competitve advantage by delivering competitively priced large orders on short lead times. I didn't realise they only supplied 2% of Signet's turnover. Really this just proves the enormous scope they have to rebuild earnings

Generally I feel the latest set of figures shows ACR have turned the corner and all their Shareholders have to do, is to be patient!

regards

[nickcduk] 11/6/2007 22:49

I emailed the company and asked if I could speak to someone and I got a reply saying Phil Walker was probably the best person to speak to. I then arranged for us to have a chat.

I find its better to email the company rather than to just ring them up and put them on the spot. At least if you give them prior warning they will put you through to the right person and they will be prepared. If you want to contact the company then email them at [e-mail] and explain the situation and Im sure they will be more than happy to help. A similar approach works with most companies if you want to get some more info.

[wilddonkey] 11/6/2007 21:03

Nickcduk
Are you just a private investor who phoned up ACR and asked to talk to management ? Who did you speak to ?

[nickcduk] 11/6/2007 13:12

I had a chat last week with the company last week. Not much to report back really. They say the market for hallmarked jewellery is stabilising year on year. The signet webpage apparently is good to see how the state of the UK market is performing. As per the announcement, the company are looking to build sales with the major players such as signet etc. Despite them being the largest player in the UK they only supply 2% of signets sales so they have plenty more to aim for. They have recently started selling to the other large players as well. The aims for the year are to reduce debt even further and take further costs out of the business. I get the feeling they are making steady progress towards their aims.

Rainmaker - Thanks for clarifying Church House Investments. I just assumed they were a ronseal and did what they say on the tin.

[rainmaker] 11/6/2007 13:02

To put the record straight-Church House is a Financial Advisor in the South West of England

regards

[rainmaker] 25/5/2007 17:59

Never heard of Church House Investments and I feel very likely it is a MBO vehicle-will check Directors of said Company

regards

[arthur_lame_stocks] 24/5/2007 19:55

I still think this could go bust. Turnover appears to be falling still and cash generation has relied entirely on squeezing working capital. There surely can't be much more they can do in that respect.

I think the sensible thing to do is wait for the next set of results, that should give a clearer picture of how things are going to work out.

[munin] 24/5/2007 19:10

HyBrasil,
I think you are absolutely right. It is all about the next 12 months.
I had hoped that a recovery would be more pronounced and clear-cut.
I'm still hoping for a profit next year of at least £3m, and a return to dividend payments. That should justify a share price of at least 60p, even with the tarnished reputation.
But WTFDIK?
In the meantime, I still keep thinking that a buy-out is not inconceivable.

[nickcduk] 24/5/2007 13:37

I would imagine its an existing shareholder that is increasing their holding in ACR. There are quite a few chunky holdings on the shareholder list who are buying a few more now that a recovery is under way. Ive written an email into the company to see if I can speak to a director about prospects. Ive not heard back from them yet but if I can arrange it and anyone has any questions they would like to put then im happy to do so.

I think there are still a few stale bulls around Rainmaker. If there weren't the heavy buying wouldn't be taking place without the share price moving markedly higher. About 3% of the company has switched hands over the last few days so announcements will be due soon. Hopefully that will give us a better idea of how much more stock there is to shift.

I wouldn't mind seeing some substantial director buying to give further credence to the recovery story. The ACR board have never really been active in trading the stock so I guess its not the end of the world if they don't dip their hands in their pockets.

[rainmaker] 24/5/2007 13:24

I believe that ACR will continue its ascent in the very near future as there is very little selling-I think that most stale Bulls liquidated their positions on the drop down to 15/17 and some heavy buying still-see this morning trades. I feel that Investors believe that ACR have turned the corner and anything between here and 30p is cheap

regards

[nickcduk] 24/5/2007 13:00

Its firming up quite nicely. A lot of chunky buys have gone through over the last couple of days. Someone is obviously looking to accumulate a large position. I don't think the trade visibility was a reason to sell Wiganer. Most of the trades in ACR seem to go via Plus and so won't come up on ADVFN monitor. If you click through onto trades they will show the trades that go via Plus with a + next to it.

I guess there are a lot of stale bulls that need to be cleared before a more substantial rise will ensue. The heavy buying in the background is obviously helping. Hopefully we will get some announcements about who is buying and selling in the not too distant future.

[hybrasil] 24/5/2007 05:35

munin. yes I am still here. I should have averaged down but I didnt.
Its all about the next 12 months. If we are still here this time next year we are away for slates.

[wiganer] 22/5/2007 12:58

The lack of trades visibility has got to me, and I've taken my profits.

Good luck all.

[munin] 21/5/2007 20:46

HyBrasil, are you still hanging on?
Did you manage to average down?
And what do you think of the results?
Has it turned around, and is it now making (painfully) slow progress?
I'd like to think this is not just another deceptive blip before the next downward spiral.

[baner] 17/5/2007 11:58

total agreement with nickcduk/rainmaker - there is VERY significant potential in this and the comparison with WGB is really interesting! even at a low ROS margin of 5% this company should earn 10p/share or so - with scope for the shares to trade at their NAV or better. the only sad thing is they were forced into the jaws of the "lender of last resort" (BURDALE) but so was WGB and they have done well in spite of this.

[rainmaker] 16/5/2007 12:54

Working Capital less all liabilities is approximately double the current share price at 43p so there's plenty of scope for further rises if they can sustain the recovery in the Co's performance!

regards

[nickcduk] 16/5/2007 11:21

I agree Wiganer. It reminds me of turnaround stories in unfashionable sectors thought to be in permanent decline. The likes of WGB managed a turnaround by completely restructuring the business. ACR seem to have made very good progress over the last year but still realise there is plenty to do. I wouldn't be suprised that following yesterdays promising results they do a small placing to reduce debt. I wouldnt particlarly mind as the dilution would be offset by new institutions coming on board and hopefully buying more stock in the market.

[wiganer] 16/5/2007 11:14

Still v. cheap.

[nickcduk] 15/5/2007 15:33

Some nice chunky buys being reported now. Only EVO left on the offer now at 20p. Hopefully should be a good move up once this overhang is cleared.

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[guru11] 15/5/2007 12:56

They can hide the volumes if over I believe at least I thought it was 6 times NMS, which currently is 10k each way. Maybe the MM dont want a surge of buying or selling, and wish to keep investors in the dark with volumes.