Brighton Pier Share Discussion Threads

[ijamlon] 13/6/2023 08:23

AGM yesterday approved authority for a share buyback of over £3 million of shares, 8.5% of the share capital, but more like 25% of what is available once you exclude all the big long-term holders. Depending on if and how it's used, it would have the potential to massively move the share price

[thecroots] 07/6/2023 08:29

Bookbroker

But the indoor golf places are cash cows. Low investment and 99% gross margins. If anything, they need more of them.

[interceptor2] 05/6/2023 11:36

I was in Brighton yesterday and can confirm the Pier and the whole area was very busy and it was the same last Tuesday and Wednesday when I was visiting relatives. The next trading update should be rather positive.

[thecroots] 30/5/2023 10:46

Agreed. Will be a bumper 3 or 4 weeks for them

[davidosh] 29/5/2023 20:03

Thecroots...It is also half term for the kids so that increases demand too.

[thecroots] 27/5/2023 20:09

With the dry weather for the last 2 weeks and the dry weather coming up, it must be a good spell for Brighton Pier and Light Valley.....

[ijamlon] 17/5/2023 10:02

Center Parcs up for sale for £5bln, will be interesting to see the market appetite for UK leisure assets.

[ijamlon] 04/5/2023 14:15

Totally agree. What I worry though is that they haven't nailed the metamorphosis yet. I will try to visit in the next few weeks and see what I make if it with an open mind.

[bookbroker] 04/5/2023 11:43

I read the reviews, some were awful, some indifferent and some positive. But it is clear that the place is in transition. Taking away many of the rides may have been ill-advisable, but many not suited to young children. People clearly unhappy about the pricing, but the majority off disgruntled customers seem to be wittering about what it was like in the past, like it or not times have changed there, so if you want thrill rides then it is the wrong place.

[bookbroker] 04/5/2023 11:36

They got their money back within 2021, could they sell the lease? The way forward is to persevere with the idea for pods, and try to exploit the rural setting.

[ijamlon] 04/5/2023 11:23

I must say the TripAdvisor feedback from families revisiting LV this season is absolutely dire. I get the idea for the new concept and I know there will always be whiners harking after the big rollercoasters, but what they have put in place does not seem to be a hit and so far attendance sounds extremely low. This is less than 20% of the overall business and it's early days, but I hope they have a plan B in the back pocket to stop it turning into a financial black hole. Big test for management here.

[bookbroker] 03/5/2023 13:30

Just being sarcastic, I hope the car park was at least half full!

[jm6783] 03/5/2023 13:19

Why ‘hopefully you could count the cars on one hand’?

[bookbroker] 24/4/2023 11:03

£1 entry, I very much doubt it, cost of the Daily Star. Folk recognise that the pier requires to be maintained.

[1tx] 24/4/2023 10:53

Making a charge to enter the Pier would kill its business.The results of course contain two peak trading periods,July - Dec,and one slow period,Jan - June so need to be read with this in mind.

PIER is a very well run business in my opinion but it is really tough for all in the leisure business.If we make more than 6 or 7p net earnings during 2023 I will be really surprised but as indicated we may have the chance of buying an additional business.I would like it otherwise as I am a shareholder but I feel the present share price is about right,but longer term will hopefully have promise.

[bookbroker] 24/4/2023 08:33

P/E based on past performance, things will likely get much tougher, even though company backed by strong and valuable assets. Still believe they should charge a pound for entry to the pier, with that number of visitors it would make a big contribution, even if the principal is questionable. But times change, and I do not feel that it would make such a big deal.

[thecroots] 24/4/2023 08:26

Dont understand why this hasnt been snapped up by a private equity firm. Has a PE of 1.9!!

[thecroots] 24/4/2023 07:44

Cracking results considering the economy

[ijamlon] 24/4/2023 07:42

Repayment of 9mln of debt is impressive and given the low market value of equity, makes PIER's Enterprise Value some 20% cheaper, while the EBITDA has jumped. There is some slight weakness in the bars division versus the very strong post covid rebound period. Nevertheless, these numbers leave PIER as perhaps the cheapest company in the market and an absolute banker for a share price doubling whenever the right mechanism for releasing value can be found.

[jeff h] 19/4/2023 10:12

Results out next Monday:-

"Preliminary results for the 78 weeks ended 25 December 2022 will be published on 24 April 2023."

[ijamlon] 19/4/2023 08:51

I was wondering the exact same. Could just be the random walk of an illiquid share or anticipation of better results following the perhaps over cautious recent guidance. A takeover would be great, and I don't see any other way for the top 5 shareholders to ever exit. That said, it doesn't seem a very favourable time: the commercial property sector is on its knees, there are distressed sales happening left right and centre, M&A deals have evaporated, and the cost of funding a takeover has rocketed (though perhaps this one would be small enough to be all cash). Luke Johnson has a book value on a slug of equity at £1, so I would imagine that would be floor if a bidder did emerge.