Airea Share Discussion Threads

[envirovision] 24/3/2011 13:34

Amazed its not fallen to 5p already. Come back in a years time, I suspect nothing will have happened. Tumble weed, this is going to become a ground hog day share for at least next 2 years minimum imo.

[playful] 24/3/2011 13:23

I like this too but still waiting for a better entry point and the 600k sell yesterday is somewhat concerning.

[the troll] 24/3/2011 12:54

check the 2005 - 2010 Stat A/c's on their web-site & you'll find the group's remaining properties ( inc. Victoria Mills, the one Arthur's referring to ) reported @ 'cost 1.7.2004 & 1.7.2010', when was the last re-valuation done I wonder ? looks like you're onto something Arthur.

so, for 9.4p ( the price I bought at this morning ) you, effectively, get a 68%+ discount to their reported NAV of 29.5p & any 'hidden' property surpluses for, well, less than nothing. that's got to make this a worthwhile 'look' for value-investors surely ? no advice intended.

[arthur_lame_stocks] 23/3/2011 21:13

Well I disagree with you guys because I reckon Airea have troughed and we'll see a distinct improvement in results over the next coiple of years. And what is their property worth as housing I wonder?

[irenekent] 23/3/2011 09:54

Interesting that nobody is bailing out yet. Also good news that overseas sales are holding up and I have been told that you can now buy Ryalux through Carpetright. If this is the case, it will mean that once again the major high street chain is selling the premium product made by this company.

Spoke too soon - sell @ 7.57p!

[davidosh] 23/3/2011 09:21

I think the way those directors suddenly stopped filling their boots about a year ago told the story better than any RNS !! Mind you I could not work out why they were filling them in the first place !

[envirovision] 23/3/2011 09:05

Good call DesWalker, well done. I think also Mudbath called it well as well. Looks like his 4p target could be met.

[deswalker] 23/3/2011 08:50

Always keep half an eye on this one and so checked out the results this morning. Can still see why I hated it back in Nov 09 and wrote as much in post 17 on this thread. The pension is killing it IMO.

[envirovision] 04/3/2011 13:37

Has been on my watch list for a while, results soon. Looks good.

[boystown] 04/3/2011 13:13

Flooring specialist AIREA (LSE: AIEA) has a market cap of £4.5m at its mid price of 9.75p yet has £3.77m in cash, net current assets of almost £10m, and overall net asset value (NAV) of £13.5m -- fully accounting for the pension deficit of £5.5m.

The company made an underlying operating profit of £900k last year, all of which was derived from the commercial floor coverings business -- whilst most of the assets are held in the domestic carpets side of the business.

[bda3490] 06/1/2011 16:17

A dead duck has more life. The Directors bought a load (forced to no doubt out of embarrassment over their salaries vs performance). The only hopes are
a/ that a life assurance company wants the pension fund (no way)
b/ a decent company with a pedigree in flooring dives in (James Halstead)

They should have kept the hotel and never bought Rylux.

Milkstone always felt there was an asset value but with the directors their drawing a good salary why would they sell on

[mudbath] 18/10/2010 10:34

If you want to buy into the potential for trauma on a double dip recession or indeed wish to buy into a £5million pension fund deficit,then AIEA is a must have
investment.Not to say that should the share price fall below 4 pence(where imo it is surely heading) that the old Sirdar might be worth a revisit.

[mesquida] 13/9/2010 16:57

Up again today - surely this move is telling us something! Anybody have a date for the results yet?

[mesquida] 09/9/2010 14:38

Certainly on the move today. Any MILKSTONE clients out there who have access to their most recent research on AIREA? Please share with us if permitted. Particularly interested in their dividend projections.

[mesquida] 08/9/2010 16:54

Interesting increase in trading volume today - with figures only 3 weeks away is this a sign of anything? A resumption of dividend payments perhaps?

[bda3490] 17/5/2010 10:59

I still ain't got over the provision for onerous leases!Still it was a sale and leaseback a few years ago I think they calimed the cash and the profit on sale and then write down the leases they wrote to themseleves to get the profit on sale. Confuses me.
And as for getting out of unprofitable contracts - how do you get into them !

2008 Accounts :The exceptional profit on sale of property arises from the sale of Bective Mills, Wakefield; Ensor Mill, Rochdale and
retail premises in Doncaster and is included in the results of continuing operations.
2009 Accounts :Provision for onerous leases and related costs 2,037

My guess is a return of pensions as an issue

[pregonda] 24/3/2010 09:24

lets see if we get further director share buying

[pregonda] 24/3/2010 09:24

Market cap £7.6m, cash of £4.2m and rising. Pension payments reduced, talk of organic growth from here and a final dividend. Looks a good recovery. Long tern this could be a £45m-£50m turnover business making £4.5-£5m. So thats a recovery PE of 1 ex cash and assuming no further cash generated.

[mesquida] 24/3/2010 07:34

Well, if ever there was a perfect example of Director buying pointing to exactly what was going on inside the Company then this is it! And these results are just the beginning - look at those new contracts, they are material in the context of a group this size. And pension worries seem to be reduced too - the Trustees have actually agreed a reduction in contributions. This stock is definitely headed higher. Only problem is that if you have not already bought then it is going to be extremely difficult to purchase a meaningful stake now. So bad luck Des Walker and all you other non-believers, but above all THANKYOU and WELL DONE to the new management team!!!!

[pregonda] 12/3/2010 06:55

we should have the correct spelling of the company on the header!

[pregonda] 10/3/2010 11:51

and results are due this Month

[pregonda] 10/3/2010 11:36

significant director buying at up to 20p, Burmatex has a good long term history of profitablility. Substantial restructuring at Ryalux should lead to a return of this business to profitability . Carpetright, Topps, Headlam and John Lewis all point to a consumer recovery in carpet type expenditure. Net cash in the balance sheet. And lastly this stock is so far off the radar that a return to profitabilty will put it back on the map. I am sure a return to dividends next year is likely and would be liked by all stake holders including the pension trustees(demonstrates improved covenent)

[longshanks] 10/3/2010 10:51

I am monitoring this with a view to a stake. Biggest bear point from what I can see is the pension deficit...but what are the biggest bull points?

[irenekent] 10/3/2010 09:58

These have turned. Great products - due for a recovery. Do your own research. would not be suprised if there was a bid.