Airea Share Discussion Threads

[garbetklb] 28/7/2022 15:09

The other 25,000 & the 8,000 were also both buys.

Looks like there's a seller available.

[empoggio] 28/7/2022 13:05

Those 25,000, and I guess others, were not a sell as listed...they were I buy...I should know!

[partridge1948] 28/7/2022 11:33

The last two years annual accounts show "other Operating income" at £280k and there is £140K in these interims. Note 11 in 2021 annual accounts suggests that valuers applied a yield of 9.38% in arriving at their valuation figure of £4M. I cannot readily reconcile the two, but there may be some costs of managing the property?

[ntv] 28/7/2022 10:30

Garbetklb
Thanks for the information. You have saved me sometime digging.
That would suggest £140k at the half year is due to investment property. I wonder if there is debt on that that lowers the return. A bit busy today to DD

[garbetklb] 28/7/2022 08:24

NTV
I THINK the annual rent from the investment property is £280k. See note 13 of the annual report. I think I'm correctly interpreting........

[garbetklb] 28/7/2022 08:09

NTV - The investment property is one of their former sites. It's been rented out for thhe last couple of years. Can't recall the rent, but will have a dig. As far as I'm aware, it's being held long term - presumably until the cash could be more usefully deployed.

[andydaf] 28/7/2022 08:04

Good results in trying times.I believe the investment property achieves around 400k a year.If you take out the value of the investment property ,factory site and cash at hand the business is valued at next to nothing.As always dyor but there seems to be plenty of value here.Airea wont be the next amazon but for the patient rewards may well come.As always GLA

[ntv] 28/7/2022 07:56

Value hound
The company appears to have an "investment property" worth £4m on it's books
Do you know what income it receives from it or is it empty?
Is it up for sale as there are no comments in the interim results

[partridge1948] 28/7/2022 07:55

Agreed. Net cash £2.5M and investment property £4M cover more than half the current market cap and the business continues to trade well despite the various difficulties thrown up recently. I think it will reward the patient, but always dyor.

[value hound] 28/7/2022 07:23

Excellent reults in difficult circumstances and still a silly valuation IMO.

[ntv] 18/5/2022 08:50

It is a disappointing that so many smaller companies don't put any update out with their AGM RNS. Personally I think a trading update should be mandatory.

[andydaf] 16/5/2022 20:00

Would have liked to attend but am working.If anyone attends would be interested in any snippets.First dividend for a while towards end of the month i believe.As always GLA

[value hound] 15/5/2022 17:31

Anyone planing to go to Tuesday's AGM (in Huddersfield)?

[bda3490] 13/5/2022 16:43

I was talking to a Plc about “surplus”; on a pension scheme. OMG ! Accounts are done on a long term accounts basis under IFRS but the pension regulatory body targets a buy out basis which is totally different and even when the books say surplus the buyout magnification of liabilities is huge

It’s not a surplus

Plus any surplus cannot go to the company/ shareholders it can only go to the pensioners. Unless the pensioners waive that and that only happens if they get most of the money

I know people we have flopped there own companies over this

[andydaf] 23/4/2022 17:19

ALS i agree with you.Positives are property and cash rich,fully invested for the future with two megalooms so capex should be largely finished with.Pension scheme is in surplus and very mature.Product is good and company has remained in profit despite brexit and covid.With a fair wind airea is now in a position to weather any storms and to make hay if the sun shines.Market cap is less than what i believe the property and cash is worth.GLA

[arthur_lame_stocks] 21/4/2022 19:57

I think that's a bit too pessimistic myself bda.

[tiswas] 13/4/2022 09:06

Looks pretty cheap to me. Trading at a sizeable discount to nav, net cash plus the investment property. Pension postion ok, eps 2.7p (including investment gain), new equipment online and generally optimistic.

I seem to remember that Headlam took a look at one time? Tragic news about the CEO but I wonder if this leaves them vulnerable to a bid without a strong CEO in charge to rebuff it. I bought some yesterday and today.

[andydaf] 12/4/2022 18:43

Good results in trying times with brexit and rampant inflation.Took some more this morning as business in my opinion is well undervalued.Fitting tribute by the chairman to a fine ceo.GLA

[value hound] 12/4/2022 08:39

Yes, excellent results all round in difficult circumstances and worth over twice as much according to my slide rule. I'm amazed they haven't moved up, so took the opportunity to buy a few more. What am I missing here?

[arthur_lame_stocks] 12/4/2022 08:14

Yes a very good performance overall. One thing I noticed was that the pension fund is now in a position of significant surplus (unrecognised) and this will save them £400k cash contributions a year.

I think they should sell that investment property now.

[mesquida] 12/4/2022 07:24

Excellent performance given all the prevailing headwinds. Just imagine what this business could do in more normal times.

[irenekent] 01/4/2022 09:27

Deeply saddened by this news. As a long term shareholder my condolences to his family and colleagues for the loss of the man who turned this company around. RIP.

[andydaf] 29/3/2022 18:18

Sad news and i am sure all of us would want to extend our best wishes and sympathy to his family at this time.Brexit,covid etc in the last few years had made his job difficult but he leaves Airea property and cash rich and a far better business than when he took over.

[whittler100] 29/3/2022 17:18

Sad news Re: CEO death "It is with great sadness that we announce the death of Neil Rylance, Chief Executive Officer, who passed away on the 28th March 2022, aged 64. Neil has been leading the Airea plc Board of Directors since joining the company in 2008".