Airea Share Discussion Threads

[irenekent] 08/9/2016 12:56

Very high quality products. I carpeted a rental property with ryalux and it survived for 16yrs. Only changed it due to staining, not wear. Its amazing how tenants, even at the high end just love to pour wine on the carpet!

[rhomboid] 08/9/2016 10:32

Lol it's hard enough to buy let alone short!

Results were at the top end of what I'd hoped for but for me it's all about the quality of the brands they have and what they could achieve in earnings going forward with the new leaner cost base. I'm also very impressed at how mgt. are dealing with keeping the pensions elephant in the room under control, the business now needs to grow to make the scheme increasingly less material over time. Ave Pension liability is now c.7.5 years so we can start to see the light at the end of the tunnel.

[battlebus2] 08/9/2016 10:24

Just ignore he's most likely shorting.....

[oregano] 08/9/2016 10:23

NTV - Other finance costs relating to the defined benefit pension scheme increased to £651,000 (2015: £447,000) as a result of changes in the Pension Protection Fund Levy.

there are no interest costs, they have net cash of £3.1m.

[ntv] 08/9/2016 10:18

50% INCREASE IN INTEREST COSTS FOR THE FULL YEAR IS WORRYING WHEN LOOKING AT THE FIGURES PRODUCED
FOOD FOR THOUGHT

[battlebus2] 08/9/2016 10:11

8 times should leave us trading at 40p which is conservative imv never mind the cash balance.....

[oregano] 08/9/2016 09:54

given the H2 reduction in costs they should do 4p of EPS this year, before any kicker from improved exchange rates.

[nikki40] 08/9/2016 09:43

Really under valued

[oregano] 08/9/2016 09:11

this is still trading at a discount to book value, which is nuts for a growing profitable company. Net tangible assets are 34p, and the pension fund is sorted out. management always under cook things.

[irenekent] 08/9/2016 08:49

At this rate I may finally get my money back. I've been in since the Sirdar days so should be getting some of that pension if the world was kind! However, its good to see that progress is being made at last. Well done management.

[battlebus2] 08/9/2016 08:43

Also a progressive dividend...40p target...dyor etc...

[jahl frezi] 08/9/2016 08:41

and ONE OFF exceptional costs of 1.27m due to restructuring. Clean EBIT next year could easily be 1.3x2=£2.6m plus whatever benefits the Company can get by substantially more favourable FX rates. £3m certainly possible which with an unchanged tax rate gives EPS of 4.5p. Views anyone?

[battlebus2] 08/9/2016 08:39

I've bought a few, still looks cheap to me..

[wjccghcc] 08/9/2016 08:38

ramridge, the 1.3mm pension credit is offset by 1.27mm exceptional cost of the site consolidation so clean operating profit is 2mm.

[ramridge] 08/9/2016 08:32

sorry jahi, the operating profit of £2m includes a pension credit of £1.3m which is a one off amount. So actually on an underlying basis, the op is only 700K.

[jahl frezi] 08/9/2016 08:28

clean operating profit of £2m - of which £1.3m made in second half. If you pro rate that full year.....

[ramridge] 08/9/2016 08:25

I don't understand why the share price has shot up near 20%.
If you look carefully at the published accounts, the adjusted eps of 2.96p includes the one-off pension credit of £1.3m.
If you exclude this (it is a one-off), then the company actually made a loss! and adjusted underlying eps is negative.
When will the penny drop I wonder?

[red army] 07/9/2016 13:48

The change in sterling will change things.

[mesquida] 06/9/2016 21:52

Surely this recent move is in anticipation of imminent results announcement?

[red army] 06/9/2016 11:59

They also have property and I am not sure when this was last valued.

[oregano] 06/9/2016 08:42

They seem a logical target for Victoria. I am unsure if they are big enough to move the needle.

[irenekent] 06/9/2016 08:28

Continuing to tick up. Is there something in the wind? I suppose they might be a target for an acquisition.

[rhomboid] 24/3/2016 11:51

Yup it looks like they're playing a cute long game before tipping their hand, I hold a small position , less than 0.2% of portfolio, but I can't bring myself to buy more unless liquidity improves.

[rhomboid] 24/3/2016 11:46

Yup it looks like they're playing a cute long game before tipping their hand, I hold a small position , less than 0.2% of portfolio, but I can't bring myself to buy more unless liquidity improves.

[oregano] 24/3/2016 10:04

rhomboid - maybe you are right, they are paying over the mid price to buy shares. And taking anything they can get.