Abbeycrest Share Discussion Threads

[rainmaker] 08/5/2006 11:45

As a neutral Observer, if I was an Investor at current levels, would not be too worried as they have significant Property Assets which I would expect them to sell and lease back to satisfy their Banker's demands.

regards

[gemset] 08/5/2006 07:27

Lost the confidence of their bankers - big trouble.

[jaykaytee] 24/4/2006 10:12

the fall continues...

[jaykaytee] 11/4/2006 15:54

I bought some of these at 45p on the basis that the share price was at a substantial discount to net assets. They then promptly fell by more than 25 % and haven't stopped falling! If they can only survive through these lean times...

[nockybalboa] 08/4/2006 07:26

Those boys over at www.fairshare.biz seem to be in the know as usual

[arthur_lame_stocks] 06/4/2006 16:17

That said how can you not like a company with the Cheesebrough´s on board? Albert and Ethel. LOL.

[arthur_lame_stocks] 06/4/2006 16:14

I have this down on my "won´t last out the year" list. Actually it´s the only thing on there at the moment since Pittards went. I´m sure I can find some more though .

I wonder what P O´Reilly likes about it though. I´d agree with him on PIV and SHW but this; loss making, highly geared and facing a bad year IMO as consumers tighten their belts.

Only attraction is the very substantial discount to net assets and net current assets.

Perhaps i´ll have a better look at the individual companied and see if it´s worth breaking up. I doubt it personally.

[dcomd99] 18/1/2006 21:53

This announcement seems very strange to me. He spent about £1200 and got an RNS. He must have had a prior announcement when he went over 3%. There wasn't a 1% boundary, so it didn't need an announcement.

I think that either he or ACR wanted an announcement to indicate "Heh, someone loves this company."

As far as I'm concerned, it will be a useful tax loss!

[arthur_lame_stocks] 09/1/2006 19:42

Dreadful results, but huge discount to net assets but a lot of debt too. Could go under I suppose.

I take it there's some seasonality with the sales, the second half covers Christmas and Valentines Day, probably good for Jewellery sales.



Is this the same P O'Reilly that has stakes in Sherwood Group and Poole Investments?

[hybrasil] 22/12/2005 07:27

anyone hear any rumours about this co

[share holder] 08/12/2005 20:23

Thanks for your comments Hybrasil.

[munin] 08/12/2005 19:34

Rainmaker,
Thanks for that.

Hybrasil,
I have no idea whether or not the company is finished. I am no longer in contact with anybody who works there. My negative comments over the last few years were based on what I knew from my time there, and the continuing train of disappointing results and announcements.
My gut feeeling is that it isn't finished, and that there is a business there that would easily support a share price of at least 50p, with a dividend of upto 3p a share. But don't bother asking me to explain or justify this.
And I'm tempted to have a (small) punt. The trouble is, I've been tempted a couple of times over the last year or so, (thankfully without succumbing), and each and every time, some worse news has continued to dribble out.
And I do not think that trading is getting any easier for them.
On the other hand, it is clear that costs have been, and are continuing to be cut, and if it is true that a lot of current costs are one-offs, and will result in a more streamlined and efficient operation, who knows, the company may end up trading profitably in 2006, and continue to do so going forward.
I guess it boils down to two questions:-
(a) Do you believe in Phil Walker?
(b) Do you think it will be taken over, or taken private?
Answer "yes" to either question, and it looks cheap.

[rainmaker] 08/12/2005 14:07

Munin-re support-applying the company's previous share price discount to net working capital per share it reached BEFORE recent interim results were released to the current NWC ps gives a figure of approx 20 pence

regards

[hybrasil] 07/12/2005 21:48

Do you believe the company is finished munin and yes I did buy two very small amounts today

[munin] 07/12/2005 19:16

Hybrasil,
I was once both a shareholder in, and an employee of, the company.
However, I served in the ranks.
Not officer material.

Are you still inreasing your exposure?
Surely, it must seem like an ever more attractive buying opportunity to you?

[wilddonkey] 06/12/2005 21:58

From motleyfool:

"The assets are a mixed bag, the better quality ones (imo) being 4m property, 1.6m cash and 5m in raw materials and the not so great ones being 14m in machinery, 22m in finished goods stocks. Still, in the unlikely event of everything going totally pear shaped 10.6m in decent assets would leave 17.4m debt, with the remaining 53.4m hopefully covering that, plus the 11m cost of the company at the current price, to give a little bit of upside. So there is fairly significant downside protection."



I have a bad feeling though, the price is tanking - it's really as if someone knows something bad the general market doesnt.

[hybrasil] 06/12/2005 20:47

munin were you once an employee or an officer of the co?

[munin] 06/12/2005 19:54

Rainmaker,
This share might well not encounter any overhead supply until it reaches 45p.
However, it also seems to be failing to find any underfoot demand.
Would you hazard a guess as to at what level it will find this?

[blueliner] 06/12/2005 18:46

So what exactly are the glorious assets made up of apart from stock

[share holder] 06/12/2005 14:34

Anybody know what is happening here. The net current assets minus long term liabilities comes to £12.2 while the market capitalization of the company is only £ 5.56M. Even if the shares doubled in price they would still be cheap.

There is also the fixed assets which are in the books at £10M I do not know the market value of thse assets but even if the fixed assets were worthless the shares still seem cheap.

[rainmaker] 23/10/2005 23:19

further explanation re share price not encountering overhead supply until 45 pence-Prior to the profits warning share price was trading around 43 pence then following the PW overnight opened at 25/30 pence the next day.The point being do not expect much selling once it breaks recent high of 30 pence since nothing was bought between 30 and 40 pence so expect share price to quickly move to 40/45 pence where investors who bought at around that level will think about selling and avoiding a loss when previously they were showing an approx 50% paper loss.

regards

[rainmaker] 21/10/2005 12:42

Hybrasil-Call it a sixth sense or whatever sensing that something is afoot whether a MBO or bid,I don't know but the share price will not meet any overhead supply until 45 pence

[hybrasil] 20/10/2005 19:42

rainm I think and hope you might be right.