Caffyns Share Discussion Threads

[jaf111] 23/7/2015 12:13

AGM today....rather disappointed (but not surprised) to hear nothing...

By contract Vertu Motors also have their AGM today.....and RNS @ 7am this morning with the Chairman's statement including a Trading Update.

Frustrating, especially CFYN should have a good story to tell - well the market conditions continue to be very friendly for car dealers!

[manrobert] 11/6/2015 14:20

bt back in in time for div

[manrobert] 11/6/2015 13:31

having sold out at 655 I am tempted to buy back in. not sure why they have fallen 20 on hardly any volume, you wonder whether the market will ever value these correctly. Any thoughts from other holders?

[ntv] 03/6/2015 19:25

i am assuming that they receive the money for the eastbourne site very soon.

so still going for true nett assets of around £33m
are the they looking to increase their area for jaguar landrover
seems to be the best performing area of the business

[jaf111] 03/6/2015 09:04

Ceratinly an interesting set of results imo....on the trading front some rather disappointing numbers especially when sector on fire / comparison with likes of CAMB etc. Maybe explained by all the site redevelopments.

But property revaluation, whilst no real surprise surely, underscores the great undervaluation of the share price.

Definately remains a Long Term BUY for me as economic fundamentals remain favourable.

[felix99] 03/6/2015 09:03

well I bought a few today. Not looked at them for a bit and was invested here many moons back. Does seem a valuation anomaly to me.

[prop_joe] 03/6/2015 08:47

Agree with you NTV.
After reducing the unrecognised valuation surplus by 20% to take account of deferred tax (tax would be payable if the properties were sold which of course will not happen but I like to try and make prudent calculations)and excluding the small intangibles figure I calculate net assets per share of £11.25 per share.

Given that Caffyns should make a good profit in the current year I expect the discount to net assets to close over time.

Hopefully with a good set of results and a reasonable forecast profit for the following year new investors will be tempted.

[lanzarote666] 03/6/2015 08:41

It may take a while for others to realise, but I expect these to drift higher during the day and over the coming weeks once these results get some coverage. NAI.

I still believe we are close to a break-out of that 650p barrier, but we shall see...

Happy to remain whilst the trends are positive.

[ntv] 03/6/2015 08:06

assets now £24.94m excluding another £8m through independent valuation so that appears to take assets to around £33m. the shares still trade at a significant discount even after the recent rise.

[ntv] 02/6/2015 14:09

guessed it was them, so who bought?
big buy back tomorrow maybe from house broker?

[jaf111] 02/6/2015 09:02

So yes results tomorrow....

And also today news that T&I sold out...all rather odd with transactions all between September 2010 and August 2014!!!!

[ntv] 02/6/2015 08:04

results due tomorrow according previous statement

[jaf111] 29/5/2015 07:04

A little surprised not to see results statement today (in line with last three years.....can only think that the company has been too busy selling cars (or even surplus land)so still counting the cash!!!

Roll on next week then......

[cjohn] 27/5/2015 17:43

I bought heavily here a couple of weeks ago in the 540's. I was hoping to buy more, but the speed of the rise caught me off guard.


The strong asset backing of freehold propoerty is what attracted me, particularly as the company is selling surplus freeholds to pay down debt. Trading is satisfactory and they are under-rated compared to other firms in the sector.

[ntv] 27/5/2015 09:03

still no news on who sold and who bought those large trades
surely that's against the SE rules

[ntv] 26/5/2015 15:37

is t & i limited the chinese or indian firm?

[ntv] 26/5/2015 15:34

so who were the big trades
broker going to hold the price back til results come out
maybe a buy back
a notification should have been made by now

[ntv] 26/5/2015 15:33

Major Shareholdings
The following major holdings have been notified to the Company:
Ordinary Shares
%
T & I Limited
207,900
7.54
M A Bruce-Smith
184,000
6.65
GAM UK Diversified Fund
173,267
6.28
HSBC Republic Bank Suisse SA
128,349
4.66
Caffyns Pension Fund
125,570
4.55
A M Caffyn
108,336
3.93
K E Caffyn
104,804
3.80
Lady D A Caffyn
95,011
3.45
R J M Caffyn
91,282
3.31
M I Caffyn
86,500
3.13
HSBC Global Custody
85,000
3.08
Mr S G M Caffyn and Miss S J Caffyn are directors of Caffyn Family Holdings Limited which owns all of the 2,000,000 6% cumulative second preference shares which have full voting rights.
Correct as of 28th March 2014

[sirhedgealot] 26/5/2015 09:52

Yes...the deficit certainly didn't help. I went into the Haywards heath garage a few days ago, they have enlarged the showroom and it is very well presented.Looks like they are anticipating increased sales and servicing.

[lanzarote666] 26/5/2015 09:45

There is also the deficit on the Defined Benefit Pension Scheme, although you will note that this has reduced from £13m to £5.4m over the past couple of years.

[jaf111] 26/5/2015 09:25

Agreed...it can be quite difficult trading....
This, along with family control, surely explains the large discount to the sector. The liquidity issue is less of a problem for medium / long terms holders of course.

[sirhedgealot] 26/5/2015 09:06

Shame the liquidity has been the way it is. Would have gladly acquired more.

[jaf111] 26/5/2015 08:06

800p certainly warranted imo.....CFYN has been trading on a huge discount to the rest of the sector and long overdue a re-rating.

[lanzarote666] 26/5/2015 08:01

700p would be interesting.

This has been fluctuating within a box range of 500p and 650p for some two years, so if it does break out on results then I think the next box range is 650p to 800p.

[jaf111] 26/5/2015 07:52

Continuing to motor nicely....thinking this will reach £7 before the end of the week.
But even after the recent rally CFYN still very cheap.
Results on Friday?