Caffyns Share Discussion Threads

[jaf111] 29/5/2015 08:04

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 18:43

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 10:03

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

[ntv] 26/5/2015 16:37

is t & i limited the chinese or indian firm?

[ntv] 26/5/2015 16:34

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 16:33

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 10:52

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 10:45

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 10:25

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 10:06

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

[jaf111] 26/5/2015 09:06

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 09:01

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 08:52

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?

[coolen] 23/5/2015 22:03

Hi NTV. Would you give me what you've seen re the "large" trade please.
My system is down at the moment, but I'll try and dig next week.

[ntv] 19/5/2015 11:01

no stock available

[jaf111] 19/5/2015 08:16

Set to motor past £6.....but no reason to stop there???

[ntv] 18/5/2015 10:40

still no announcement on latest large share transaction!

[ntv] 18/5/2015 10:39

updated header

[jaf111] 15/5/2015 08:54

Agree with that...CFYN hugely undervalued compared to the rest of the sector. Am expecting EPS of at least 90p so even after the recent run up the shares will trade on a historic PE of under 6, which is about half the sector average. In addition there is the balance sheet strength / freehold property. The negative is the family control / lack of liquidity issue.

But certainly for those with patience CFYN is surelyas it says at the top

THE MOST UNDER VALUED CAR DEALER OF THEM ALL

[lanzarote666] 13/5/2015 08:07

Results from Cambrian and Vertu over the past couple of days shows that the sector is still on the rise.

Bodes well for CFYN - we may even test that 650p high...

[prop_joe] 10/5/2015 14:56

NTV, I agree that buying shares would increase the net asset value per share (which is clearly great for remaining shareholders provided that it is affordable) but I don't agree that it makes the balance sheet stronger as the company will be reducing its cash balances/increasing borrowings in order to fund the share buy back. If the company buys back shares it will need to be mindful of the need to maintain an appropriate debt/equity split just in case there are future blips in trading.

For the record, I do think that Caffyn's is very cheap at these levels and it is one of my biggest holdings.

[ntv] 10/5/2015 14:34

prop joe
if they buy in their own shares at this price it increases nett assets per share
making the balance sheet stronger. i still expect a takeover at some point as this company is small fry in this market. at least the family and trusts won't sell out cheaply

[jaf111] 08/5/2015 10:27

Starting to motor with finals due at end of month????

[prop_joe] 03/5/2015 20:25

Not sure if overhang is cleared. I made a couple of purchases on Friday and there seemed to be sells in response and the price didn't move either.

A buy back might make sense given the substantial discount to net asset value, but I wouldn't want them to make life more difficult for themselves by using cash to buy back shares that might be needed for expansion or maintaining a solid balance sheet position.