Brighton Pier Share Discussion Threads

[ijamlon] 03/12/2024 09:09

Yes true. I just don't see the current listed status as sustainable at this low market cap, and with 3 investors holding two thirds. What's the purpose? There is no secondary market, any trade bigger than a few hundred pounds moves the price. They can't raise new capital through the listing. It just creates burden and negative feedback loops. From a minority shareholder perspective this is a worse situation than being owned by private equity, where at least there would be an exit and capital return timetable. Something structural is going to have to happen before the end of next year. So far Soros and Hackney have been dormant but they will have their own objectives and fiduciary duties and can't get stuck in a dead money lobster trap indefinitely.

[dartboard1] 03/12/2024 09:02

Would prefer they use spare cash to build these clamping pods, refurb golf venues, or buy new leaseholds for golf venues, or new games/rides... once there's no further options like this and still more cash then yes.

[jm6783] 03/12/2024 07:40

Agreed. But they will argue it will decrease the - already low - free float, which is a very weak argument.

[ijamlon] 03/12/2024 06:24

Considering the very low value and liquidity of the stock now, I think it is time to start putting a much bigger chunk of the net cashflow into buybacks (including some open market, not just direct block trades). It would be highly accretive to earnings, likely very supportive to the share price, and give a break to patient minority investors. If operating performance normalises, they could probably buy back a third of the company over 3 years at this price, which translates into about 50% eps growth.

[jm6783] 29/11/2024 11:52

Thanks for the reply. I hope you are right on that. It’s been a long time since they opened one!

[thecroots] 29/11/2024 08:38

NO worries

The issue with the golf is trying to find good locations. They'll come I'm sure

[jm6783] 28/11/2024 20:10

Thanks Croots. I hope you are right. I really do not understand why they don’t expand the golf business - it seems extremely profitable, high margin and not too capital intensive

[thecroots] 28/11/2024 16:11

It's up 2p on the bid today.

It's just an illiquid stock in an out of favour sector.

I'm holding tight seeing as the trading volume is practically zero and any sells are so small.

Here's hoping again to better weather in 2025....

In my opinion, its definitely a tuck away share this one.

I'm hoping that after 2 director purchases in the last 6 months that we could have some more so show faith at these levels. Seems WAY WAY too cheap considering how much was paid for each individual division.

In 2022, this was nearly 120p.... so we have a lot of potential.

Has anyone topped up?

[jm6783] 27/11/2024 21:09

What is going on here? Price continues to fall.

[thecroots] 31/10/2024 20:31

Blimey, some welcome support for Cavendish on the bid on Level 2.

Not had that luxury for a while.!!

[thecroots] 30/10/2024 22:27

Yes - hopefully be some kind of boost.

I heard that they may charge more of an entrance fee during the peak seasons which is absolutely the right thing to do considering rising labour costs

Hopefully with only 50% cut in BR on AIM stocks we could get some relief. AIM market did rise today overall. My SHOEZONE shares rose 6%

[jm6783] 30/10/2024 15:12

And it’s half term !

[thecroots] 29/10/2024 19:15

Agreed.

I think we are in for good weather for the next week or so aren't we?

[kirmich] 29/10/2024 11:51

This mild weather can be a small bonus after a difficult year. Hope it attracts some people

[thecroots] 22/10/2024 17:34

Hi Dartboard,

Operating partner i think. Which i think is the best option.

Anne is the right person for this as she was at the helm of Bourne Leisure. I've not been but i have been told that LVW park grounds/views are stunning and it would make sense to utilise this.

I'm also pleased the Pier will be charging admission again next year (From March this time - so a lot earlier) so it will capture a few months more admissions which should help the numbers a bit next year....

[dartboard1] 21/10/2024 18:47

Yes. Was hoping Crootes would say the shovels are in the ground

[bookbroker] 21/10/2024 13:58

Need to get on with this project, need to find other revenue streams.

[dartboard1] 21/10/2024 12:15

Thanks Marc. So not started yet. Are they looking for an investment partner, or an operating partner of the pods.

[thecroots] 20/10/2024 18:19

Hi Dartboard,

from the conversation i had with them last week, they are actively looking for a partner for the pods.

Marc

[dartboard1] 30/9/2024 09:08

That sentence was a standout to me also ... not sure how it's possible. People go to the sea side when it's not raining (lwv also). Said this a few posts ago. They should seek out new river reit and purchase snow zone. Would reduce reliance on summer crowds and mitigate weather for that portion of revenue, and is within their leisure facilities strategy. But maybe it's not for sale nor at a reasonable price.

[ijamlon] 30/9/2024 08:23

Even though we knew most of this, it's slightly worse than expectations overall. I think if you run a UK business that can't make profits if it's a bit rainy, then you've got a problem. I feel they complain too much about weather and the economy (neither of which were catastrophic) when really they should be focusing on upgrading a rather tired offering at the pier, which is probably the root cause of over dependence on sunshine. In that light I think the most important statement comes at the end... "We are also actively looking into longer term options that will reduce the Pier's reliance on good weather." Hopefully this will be something transformative (and not just covered walkways!) The fact that the share price has hardly moved on a profit warning also shows you that this is dirt cheap. Nail the transformation and it will be a huge treater.

[goldie40] 30/9/2024 08:04

should put up pier admissions to £2 in line with others perhaps to include voucher for a free ride etc ,also agree with bedford 1976 these thick councils know how to wreck a resort with high parking charges and cashless meters if they had brains thy would be dangerous. sign the pledge

[thecroots] 30/9/2024 07:27

I'm looking in the summary box.

operating profit of 0.9m compared to an operating loss of 3.9m.

not really interested in these interims tbh they already told us they be below expectations months ago

I was more interested in how the summer went ....