Airsprung Share Discussion Threads

[the big fella] 06/8/2009 17:51

Yes, ideal recovery stock packed with assets.

[cockneyrebel] 05/8/2009 17:42

So it's beds that are doing well for CPR and what boosted their sales in todays results - not surprising is it?

Reinforces APG's recent statement imo.

To think these are trading half the value of the property assets, making a good profit, paying a divi, PE probably 5 or less perhaps - Would be earnings enhancing and asset boosting for Carpetright if they bought APG for double today's price. Would boost sales by 10% for CPR too.

Sort of makes APG look even more screamingly cheap when you think CPR has sales of £500m and £500m mkt cap. APG has £50m sales, £5m mkt cap, a tenth the rating of CPR!

CR

[cockneyrebel] 30/7/2009 14:32

no, I keep buying on a tick down - someone beat me to it this time before it ticked down :-(

CR

[liarspoker] 30/7/2009 14:30

Your 10K CR ?

Graph looks awesome. :O)

[liarspoker] 27/7/2009 14:14

That's fair enough CR.

[cockneyrebel] 27/7/2009 14:02

I dunno about AVR L-S - only floated 2 years ago - I'd like to see a bit more history. Will stick it on my watch list tho.

CR

[the big fella] 27/7/2009 12:29

Hangers, I think you should find it is me who is laughing.

[the big fella] 27/7/2009 12:15

Off and running.

[liarspoker] 27/7/2009 11:38

AVR looking like it's about to tick up soon CR.

7.44p for 2K shares, 7.29p for several 20K buys last week.

Halve inventory, 3/4 of receivables plus cash less all liabilities equals 7.6p. Gotta be value there imo. One for the patient.

[cockneyrebel] 27/7/2009 11:35

that's a breakout - I added another 5K in the wife's pension to round my holding up to a big fat round number. Even the 0.5p divi they are paying for year end is going to be rather nice for me :-)

These did 1p eps in H2 without the royalty income. If they only repeated H2 for the next two halves and get the royalty income the EPS would be nearly 3p this coming year imo. Likely to get 1p divi too - near 5%.

Now think about what they could do as H2 was £1m better than H1 and they have Hush-a-Bye and they are likely to get organic sales growth on any slight recovery.

Just a cracker with great potential imo - not to even mention the £10m+ property assets! :-)

CR

[liarspoker] 27/7/2009 11:27

Here we go. :O)

[newbe] 22/7/2009 08:01

Cant remember whether its 20yrs or less,they were based in Dursley,now operating from Lancashire according to a friend who buys the stuff,I think you will find the US deal has been around for sometime and had/has nothing to do with Karmin,I do agree they seem confident lets hope it all works out

[liarspoker] 21/7/2009 20:01

Well you beat me first then I beat you so we are square now. :O)

Will add more TON but hoping for a fall in share price

[cockneyrebel] 21/7/2009 19:55

Not sure you'll see a pull back LS, I've been picking off 10ks at 21p or under if I ca get it - not going to get done over as on TON where a buyer kept beating me.



CR

[liarspoker] 21/7/2009 19:44

Sssshhhh - just let the price drift lower. :O)

[newbe] 21/7/2009 16:39

they have owned Bymacks for 15 years it used to be a big business in very large freehold premises that were cashed in by the new team,the US deal has been around for 10 years,dont get me wrong i wish them and you well for the future heavens knows we need more production/jobs in the UK but its old news being respun

[greek islander] 21/7/2009 16:00

CR
Well said

[cockneyrebel] 21/7/2009 15:21

Lisanti became CEO in March 02 when the business was already in decline. The company turned around from the point the Yates went and he bought 15%.

Since then he has reduced the pension deficit from £7m to £2m, he's repurchased the the pref shares and declared a divi, all througha major recession. EPS up to nearly 6p too in that time.

I'll tell you this - they did nearly 1p eps in H2, a near £1m improvement in profits over H1. In H1 this year they could easily do 2-3p eps with that sort of momentum if we get a bit of recovery. On top of that they have the new royalty stream coming in from licensing. $20m sold under liceses (£12m). Say they get 2% royalties - thats another 240K or the best part of another penny eps.

They have far more sales outlets with Hush-A/Bye and the recent deal signed with Bymack, plus 3 new major listings they say. So with a good wind 3p eps in H1 is possible, 4p+ in H2 and 1p royalties nearly on top perhaps, if we get a fair bit of recovery? I'm not saying they will do that but with a good wind that' the potential, no net debt and property assets of £11m or so, all for £5m mkt cap.

I reckon it's a no brainer myself.

CR

[newbe] 21/7/2009 07:59

J Yates is still there as MD of one of the companies,may well have come off the main board as the number of directors was too many for a shrinking business,interested to read your comments that they now do wood/metal beds,i was there about 10 years ago and they at that time were one of the largest producers of wooden beds in the UK,in fact if I remember correctly it was announced at the AGM that they had just installed a new robotic water based paint line also at that time were selling metal beds imported from the Far East,wasnt the share price nearer 100p when Lisanti joined?I am still a shreholder,not big,and I hope they do ok but I have my concerns

[cockneyrebel] 20/7/2009 18:30

Lisanti bought 10% of the co in Sep 05:

Lisanti bought 3.5m, (14.65%)
Stuart Lyons bought 1.1m (4.5%)

4 other directors bought about 100k

They all bought at 15.5p from Cynthia Yates.

The previous directors were the Yates. I assume they were useless as it performed badly under them. As I actually see it I reckon 2 of them were uninterested in the business while the third was keen so two left, just SW Yates remains as a non exec. He has 4% and J Yates has 8%.

CR

[newbe] 20/7/2009 09:21

CR,been away for a while so have not read the various comments,can you enlighten me please,what was the share price when Lisanti took over?how much did he pay for his shares?and who were the useless previous management you refering to?i realize i could find all the info by digging about as its pretty much public knowledge but you seem to have the info at your finger tips

[cockneyrebel] 18/7/2009 17:03

Edited the header to include all the co websites and the recent result headlines.

CR