African Battery Metals Share Discussion Threads

[steelman48] 26/3/2006 00:51

John,
The only real way to my mind to price in the new shops is by the profit they're likely to make less the cost in interest on the loans to aquire them and make them fit the model. The capex doesn't really matter as presumably the sites won't depreciate. As we don't have detailed information on the cost of the loans then this is indeed difficult.
The web site now says the company has 75 branches, (I think 76) from about 55 a year ago, so the company is approximately 38% bigger than Feb 05. It may be a leap of faith but assuming the new branches perform on a par with the existing ones after a reasonable time then that should mean 38% more profit or just a tad over 2.2m on a full year.
It's the cost I stuggle with. Without the interest payments being specific to the new branches and anualised they don't really mean much. There's probably an easier way, I'm not much of a bean counter.
Of course if the company was called ABM.com and never made a profit then we'd know the exact cost and potential increase in none profits every time they bought a new keyboard, but I think I prefer things the way they are.

[Abuse team] 23/3/2006 08:26

Post removed by ADVFN

[one for the money] 23/3/2006 08:25

Steelman - fully agree. I find it difficult to 'accurately' price in the new stores etc. I just feel we might be just about there with the share price now. Can't see it dropping too far from here. I'll hold long term for the divi (a pretty good return, now, because I bought in at 102p).

Cheers
John

[steelman48] 22/3/2006 23:13

Barrier or not John, the only trades I regret with this share are my sales. I don't regret them much because like 8 ball it's left me with a free holding (and a bit) and I haven't done too badly with the money elswhere.

But for what its worth and IMHO only, I think the board signalled their intentions at the intrims with the announcement of an increased rate of new branch openings. This companys story has been one of growth from the outset, the market is now pricing in that future growth. At the same time of course they turn a decent profit, something that many small caps seem to forget in the quest for growth. I see it continuing.

Inevitably the share price will (as it always has) take a break, run sideways and pull back now and again, I would be surprised if this current run up were to continue much longer, but I've been surprised before .. like from 140 on up.

[one for the money] 22/3/2006 12:30

Glad to see we're still steaming upwards. IMHO, 200 might be a bit of a psycological barrier to some holders. but we're in unknown territory.

Cheers
john

[drago] 22/3/2006 10:56

a whisper off 200p

[8 ball] 20/3/2006 16:58

Just when you think it can't go higher it does.
I sold shares to the value of my initial investment, so just holding free shares from here on up.

Too think I first paid 75 p a share, this has been one of my better purchases.

[one for the money] 17/3/2006 13:45

Moving again - and its not Christmas! :)

Cheers
john

[fatfin] 14/2/2006 18:18

Up we go again. 75,000 shares sold today and the price goes up 4p. I seem to remember it was much the same the other day.

Fatfin

[bealey] 08/2/2006 09:53

I tried to re buy this AM and T D Waterhouse would only quote for 1500 @ 172.13 online so stock could be in short supply .BTW does any one know what %age of revenue comes from ABM'S new jewellery sales and what effect if any Satellite TV's direct selling of jewellery by the likes of "Gems TV" is likely to have on sales as lots of people are talking about the bargains they are getting.
One friend of mine bought several rings and took them for resizing to a local Jeweller who valued them at more than 4 times the price they had paid!

Dave

[steelman48] 08/2/2006 06:50

Gold is down $21 overnight in asian trading, CMC currently giving a spot price of $549

[fatfin] 07/2/2006 20:48

DiogenesJ and nielsc. Thanks for your comments. Better to post here where one is on topic.. Everytime I have considered selling because I feel they are overpriced they have gone onwards and upwards. Writen up today in the FT along side DFD. Bigger write up for DFD as more are turning to their services. If they are refused their services then they may have to see what they can sell to make up any money then ABM will fill the gap for that period. A present, unless their gold is sold back to back they should be cashing in a bit on the rise in gold as well. Very often the rise in gold is destroyed by the fall in value of the $. I am sure that ezcorp will one day make a bid then I will be able to exit more easily. originally got 60k of these at 26.13p back in 2000. They were then dogs compared to the hot internet stuff at that time.

[steelman48] 07/2/2006 12:31

Tempus of the Times, sums up with a "hold" rec, I would tend to agree

[one for the money] 06/2/2006 13:29

Steelman

Good points...the figures put it into perspective nicely and the point about maintaining the yeild is particularly important

....and I'm not complaining about the divi hike really!

Cheers
john

[steelman48] 06/2/2006 10:45

John
To hold the divi at last years interim level would have saved about £125,000 by my calcs on the 6 month period. While I'd agree with the principal that it's better to use cash you've got than to pay interest on borrowing, I wouldn't have thought that would have made much of an impression on the cost of 12 new branches. It seems to have been the policy of the company to increase the divi by a bit less than the profit growth for every period, and with the recent increases in the share price the yeild, (currently 2.2%) would start to look less attractive if they were to stop now I think.

[one for the money] 06/2/2006 08:25

I'm pleased with the results and to see the potential growth that might be achieved by our company. The divi hike (slightly less than profit increase I think) is a welcome but I question whether they should have held the divi and reduced the borrowing required for expansion.

Any comments on that?

Cheers
john

[ariane] 06/2/2006 08:16

Albemarle & Bond Holdings H1 profit up 12 pct on pawnbroking, cheque cashing
ops

LONDON (AFX) - Albemarle & Bond Holdings PLC, which provides pawnbroking and
cheque cashing operations as well as retail jewellery sales, posted a 12 pct
rise in interim pretax profits to 3.34 mln stg from 2.99 mln.
The interim dividend was 1.5 pence per share, up 11 pct.
Results were boosted by income from pawnbroking operations, up 21 pct, while
income from cheque cashing rose 16 pct.
Income from pay day advances increased by 7 pct, while retail sales were up
by 13 pct.
"During the period we are pleased to have acquired twelve shops and opened
two new greenfield sites," the group said.
"We expect to open one further branch in the second half, relocate four
branches to better sites and undertake a substantial refurbishment at one other
branch."
[e-mail]
bam

[steelman48] 06/2/2006 08:13

Excellent results, in the price though I think. But I wont be selling, 12 new branches and more on the way means continuing growth, and growth is one reason for ABMs performance over the last few years.

[ariane] 06/2/2006 07:53

Interim Results

RNS Number:9406X
Albemarle & Bond Holdings PLC
06 February 2006


ALBEMARLE & BOND HOLDINGS PLC

ANNOUNCES

INTERIM RESULTS FOR THE SIX MONTH PERIOD ENDED 31 DECEMBER 2005


Enquiries:


Charles Nicolson
Chairman Albemarle & Bond Holdings PLC 0117 933 3213

Greville Nicholls
Chief Executive Albemarle & Bond Holdings PLC 0118 955 8100

David Pattinson
Finance Director Albemarle & Bond Holdings PLC 0118 955 8100

Susan Wallace
Company Secretary David Venus & Company LLP 01372 465 330

Josceline Grove Public Relations Consultant 07896 495839

Nick Reeve Solomon Hare LLP 0117 933 3100


Date of issue: Monday 6 February 2006


PAGE 1




6 February 2006

Dear Shareholder

INTERIM REPORT 31 DECEMBER 2005

I am delighted to report that profit before tax for the period increased by 12%
over the same period last year to #3.34m from #2.99m. Earnings per share have
increased by a similar percentage.

Income from pawnbroking grew by 21%, income from cheque cashing by 16% and
income from pay day advances by 7%. Retail sales increased by 13% and Speedloan
continued to make a worthwhile contribution. Overall, gross profit increased by
16% and operating profit by 14%.

During the period we are pleased to have acquired twelve shops and opened two
new greenfield sites. These acquisitions were funded by increased borrowings.
We expect to open one further branch in the second half, relocate four branches
to better sites and undertake a substantial refurbishment at one other branch.

In recognition of the continuing strong performance your board believes it is
appropriate to increase the interim dividend by 11% to 1.5p per share (1.35p).
This will be paid on 22 May 2006 to shareholders on the register at 21 April
2006.

Unaudited results of your company for the half year ended 31 December 2005 are
set out overleaf together with the corresponding figures for the previous year.

Yours faithfully,



CHARLES NICOLSON
CHAIRMAN


Our website can be found at www.albemarlebond.com


PAGE 2




ALBEMARLE & BOND HOLDINGS PLC
CONSOLIDATED PROFIT AND LOSS ACCOUNT

Six months Six months Year ended
ended 31.12.05 ended 31.12.04 30.06.05
(unaudited) (unaudited) (audited)
#'000 #'000 #'000
TURNOVER 14,930 12,696 24,006
COST OF SALES (4,630) (3,883) (6,491)
--------- --------- -------
GROSS PROFIT 10,300 8,813 17,515
OPERATING COSTS (6,536) (5,499) (11,174)
--------- --------- -------
OPERATING PROFIT 3,764 3,314 6,341
INTEREST (423) (328) (686)
--------- --------- -------
PROFIT BEFORE TAX 3,341 2,986 5,655
TAXATION (1,002) (925) (1,599)
--------- --------- -------
PROFIT FOR THE
FINANCIAL PERIOD 2,339 2,061 4,056
========= ========= =======

EARNINGS PER SHARE
- BASIC 5.10p 4.53p 8.88p
- DILUTED 4.96p 4.41p 8.67p

NOTES:

1. The figures for the six months ended 31 December 2005 and
31 December 2004 are unaudited and do not constitute statutory accounts.

2. The figures for the year ended 30 June 2005 are abridged from audited
accounts approved by shareholders on 4 November 2005 and lodged at
Companies House and on which the company's auditors Solomon Hare Audit LLP
gave an unqualified opinion.

3. A copy of this announcement is being sent to shareholders and is
available at the company's registered office.

4. Earnings per share have been calculated based on the profit after tax and
the weighted average number of shares in issue during the half year ended
31 December 2005 of 45,893,098 (31 December 2004 -45,473,973; 30 June
2005 - 45,650,223). The diluted earnings per share also include weighted
average unexercised share options at 31 December 2005 of 1,240,421
(31 December 2004 - 1,216,036; 30 June 2005 - 1,104,682).

5. Taxation is based on the unaudited results and provision has been
estimated at the rate applicable to the company at the time of this
statement.

6. Dividends declared on 30 June 2005 were paid on 30 January 2006. Interim
dividends of 1.5p per share (2004: 1.35p per share) will be paid on
22 May 2006 to members on the register at 21 April 2006. This dividend
has not been included within the results for the six months to
31 December 2005.

7. During the period the company has adopted the provisions of FRS21,
Events after the Balance Sheet Date. Under this standard a dividend
cannot be recognised as a liability at the balance sheet date unless it
has been authorised by the shareholders in the case of a final dividend
and the board of directors in the case of an interim dividend. As a result
at 31 December 2005 the net assets have increased by #696k (31 December
2004 - #623,000; 30 June 2005 - #1,225,000). This change in accounting
policy has no effect on profit after tax in either the current or prior
periods.


PAGE 3




ALBEMARLE & BOND HOLDINGS PLC
CONSOLIDATED BALANCE SHEET

31.12.05 31.12.04 30.06.05
(unaudited) restated restated
(unaudited) (audited)
#'000 #'000 #'000
FIXED ASSETS 7,425 5,089 5,250
-------- -------- --------
CURRENT ASSETS
Stock 8,751 5,760 5,787
Debtors 22,633 18,517 21,012
Cash at bank and in hand 2,286 1,953 1,709
-------- -------- --------
33,670 26,230 28,508
-------- -------- --------
CURRENT LIABILITIES
Bank overdraft and other loans (300) (796) (1,044)
Trade creditors (569) (180) (482)
Corporation tax (1,141) (1,054) (841)
Dividend payable (1,225) (1,033) -
Other creditors including tax (167) (166) (255)
and social security
Finance leases and hire purchase (56) (46) (53)
Accruals (375) (266) (326)
-------- --------- --------
(3,833) (3,541) (3,001)
-------- --------- --------
NET CURRENT ASSETS 29,837 22,689 25,507

CREDITORS DUE AFTER MORE THAN ONE YEAR
Finance leases and hire purchase (65) (38) (57)
Bank loan (15,433) (8,600) (10,150)
Provision for liabilities and (230) (277) (230)
charges -------- -------- --------
NET ASSETS 21,534 18,863 20,320
======== ======== ========

CAPITAL AND RESERVES
Share capital 1,853 1,845 1,849
Share premium account 3,801 3,700 3,733
Capital redemption reserve 1,018 1,018 1,018
Other reserve (121) (197) (149)
Profit and loss account 14,983 12,497 13,869
-------- -------- --------
21,534 18,863 20,320
======== ======== ========


PAGE 4




ALBEMARLE & BOND HOLDINGS PLC
CONSOLIDATED CASH FLOW STATEMENT

Six months Six months Year ended
ended 31.12.05 ended 31.12.04 30.06.05
(unaudited) (unaudited) (audited)
#'000 #'000 #'000
NET CASH INFLOW FROM OPERATING
ACTIVITIES 2,512 3,263 4,451
RETURNS ON INVESTMENTS &
SERVICING OF FINANCE
Interest paid (360) (317) (670)
Hire purchase interest (6) (11) (20)
-------- -------- --------
NET CASH OUTFLOW FROM RETURNS ON
INVESTMENTS AND SERVICING OF
FINANCE (366) (328) (690)
TAXATION
Taxation paid (702) (634) (1,568)
CAPITAL EXPENDITURE AND FINANCIAL
INVESTMENT
Payments to acquire tangible
fixed assets (778) (736) (1,122)
Receipts from sale of tangible
fixed assets 16 8 300
-------- -------- --------
NET CASH OUTFLOW FROM INVESTING
ACTIVITIES (762) (728) (822)
ACQUISITIONS
Payments to acquire business (4,851) (274) (593)
Cash acquired with acquisition 136 23 66
-------- -------- --------
Net cash outflow from acquisitions (4,715) (251) (527)
EQUITY DIVIDEND PAID - - (1,661)
-------- -------- --------
NET CASH (OUTFLOW)/INFLOW BEFORE
FINANCING (4,033) 1,322 (817)
-------- -------- --------

FINANCING
Decrease in hire purchase loan (28) (41) (75)
Exercise of share options 100 73 204
Net increase in secured loans 4,538 100 1,650
-------- -------- --------
NET CASH INFLOW FROM FINANCING 4,610 132 1,779
-------- -------- --------
INCREASE IN CASH 577 1,454 962
======== ======== ========


END



This information is provided by RNS
The company news service from the London Stock Exchange

END
IR DXLFBQLBZBBB

[8 ball] 04/2/2006 20:15

The results may also be a good time to get out on a high?
Having held these from about 75p I thing it could be time to take profit after Mondays results.

In the past we have seen a good rise following results.

[steelman48] 03/2/2006 16:33

Well .. Intrims Monday, maybe some light will be shed ..

[evilwebby] 03/2/2006 09:08

No position, but it's done 70% since May 2005.. needs to take a breather! Downside to 150p.

[bealey] 03/2/2006 09:04

Steelman48,that sounds about right,when I sold the puplished price to sell was 179 but when the deal went through it was delt at 181.5!although his morning out of interest I was quoted 184.5 (published :185) on 5000 max .I could not try for a sell price as I no longer have any shares .This rise early in the year as gone against past trends and any news so there may be some thing brewing .This has been one of my better performing stocks and one that I am not sure if I have done the right thing in selling but I have watched the price fall back from a good rises so many times I thought this is too tempting to miss!
Good luck to all holders ,

Dave

[steelman48] 01/2/2006 15:34

and I just got another one for intrests sake 3:30PM published is 182/186 I was quoted :
Bid
182.5p (Max = 5000)

Offer
185.5p (Max = 10000)

[steelman48] 01/2/2006 15:16

bealey
actual spread when I got a quote this morning was about 2 1/2p as opposed to the published 7p, I could have got 188.86 from memory, but restricted to 5000 shares, the offer was also below the published price of 192, by how much I'm not sure, restricted to 1000 shares.