All Leisure Group Share Discussion Threads

[canteatvalue] 26/11/2012 12:01

Good to see them sneaking back in to profit here - means we should expect a tangible book value per share of over 44p come results. I think the large discount to book value here is unjustified as they earn a good return on equity over the whole economic cycle and I think there's significant upside from the acquisition they made at fire-sale prices. The line:

"Both the "Travelsphere" and "Just You" brands, based at our freehold property in Market Harborough, have performed exceptionally well since acquisition and have made a better than expected contribution to the bottom line."

is pretty encouraging on the acquisition integration front which was one of my bigger concerns around this company. Not a short-term trade but the prospects are good on a multi-year time frame. One of my biggest positions.

[diku] 26/11/2012 08:45

So a 3 - 5 year hold....

[masurenguy] 26/11/2012 08:18

I really like the implications that are inherent in this concluding comment within this pre-close statement.
"The strategic importance of the acquisition of PMTG cannot be underestimated. Whilst restructuring costs will be incurred in the short term, the board is confident that the synergy benefits that it has identified will deliver a strong contribution to the bottom line in future years."

[diku] 26/11/2012 08:03

Hope so.....

[blackbear] 26/11/2012 07:48

Looks like progress to me should go 28-30p this morning

[blackbear] 22/11/2012 16:01

Update on Monday.. is the rise presuming something positive.

[welsheagle] 10/11/2012 21:57

Looks like this has reached the low point.

[dgwinterbottom] 07/11/2012 13:48

You are not kidding...........except we are all shareholders and should be treated alike irrespective of our holding!!!

[diku] 07/11/2012 13:14

Big money talks!.....

[dgwinterbottom] 07/11/2012 07:52

As we often see correspondents say on these boards - dyor!! Fair enough I am quite happy to do that if I can only access the info to do it. By this I mean the Brokers Report but when you are outright refused that request I get just a little bit annoyed as I believe its a perfectly reasonable request....and ALLG is one of the ones that said "NO"!!!

Bet they dont say that to Mark Slater!!!!!!

[blackbear] 02/11/2012 16:33

Yes like a snail



Normally trading updates are in November should be interesting.

[diku] 31/10/2012 13:09

This is slowly creeping up....

[gfrae] 12/10/2012 12:30

Thanks for that.I presume quite a few sharehlders would also be their punters,and therefore any buy back would be at a fair price,and as you say they have shown that are trying to look after shareholders.
Hard to see the share price going anywhere in the meantime,with so many shares held by insiders,without a privatisation.
As you say somewhere around 50p might be the minimum.

[canteatvalue] 11/10/2012 22:31

Just gave my thoughts on this share here:

[gfrae] 11/10/2012 09:20

Why does'nt Roger Allard put the shareholders out of their misery and buy this company back?.

[diku] 25/9/2012 15:51

Wonder if the CCL optimism could spill over here soon?...

[knigel] 16/9/2012 11:54

Maybe they r historic projections and not been revised after recent rnss?

[masurenguy] 16/9/2012 10:28

Well there are apparently two analysts projecting a range from 1.6p to 3.41p. There is no commentary or explanation to substantiate these forecasts either. The company chairman stated only 7 weeks ago that: "We believe that the measures we have taken will mean that, although 2012 results for cruising will be below expectations, we remain confident that shareholders will see a significant improvement in returns once the adverse economic, commodity and exchange rate environment finally abates."

If there is likely to be a material improvement in their projected results then they should inform the market in the exactly same way that they would be required to advise the market of any deterioration in likely trading performance. Until I've seen some corroborating indications from the company that current H2 trading conditions are ahead of prior expectations, I'm not going to give much creedence to some isolated figures without any substantiation to back them up.

I've a very positive view on their longer term potential, especially after the Page & Moy acquisition, but
I cannot see any basis for some sudden and unexpected short term turnaround without any company comment. Their year end is only 10 weeks away and over the last 3 years they have provided a trading update during November. Therefore we should soon see the likely impact that the Page & Moy acquisition
is likely to have on H2/annual results.

[masurenguy] 15/9/2012 18:51

I can't see any revised eps estimates showing an increase from 0.39p to 3.41p in that link. They also make no reference to Page & Moy now being part of the business either.

To produce an eps of 3.41p in the current year they would have to make a post tax profit of circa £2.1m. Given that they reported a loss of £11.2m at the interims they would have to make at least £13.3m in H2 before taking on board any of the incremental costs of the Page & Moy acquisition, including £400K pa in additional interest charges on the new loan. I think that this is hardly likely unless there are some unforseen significant income write backs in the Page & Moy business.

[knigel] 15/9/2012 12:55

Yes if u r prepared to hold for 1-2 years minimum. Shame about the dividend (thanka for post) as it was a high yield share also but it makes sense.

[welsheagle] 15/9/2012 12:39

This looks like a potential strong recovery buy.

[masurenguy] 15/9/2012 11:16

Somerset Lad - where did you see the eps estimates for the current year, which you refer to in post #40 above ? Can you post a weblink to the source ?

Knigel, it was only 7 weeks ago since they made the following statement on dividends.
"As stated in the Group's announcement regarding the acquisition of Page & Moy on 16 May 2012, the Group is proposing not to pay dividends for the foreseeable future as it will be concentrating on maximising profits and shareholder value in the medium to long term." Interim Results 27/7/12

[knigel] 15/9/2012 09:28

Will dividends resume?