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CMBN Cambian Group

192.40
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Cambian Group LSE:CMBN London Ordinary Share GB00BKXNB024 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 192.40 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Cambian Share Discussion Threads

Showing 76 to 98 of 400 messages
Chat Pages: Latest  4  3  2  1
DateSubjectAuthorDiscuss
09/2/2016
11:46
"Although today’s profit warning is disappointing, Cambian remains a highly profitable business with a bright future. As such, today’s share price fall appears to be an overreaction by the market and with Cambian trading on a price-to-earnings (P/E) ratio of just 7, it seems to be a strong buy for the long term."
boycie1
09/2/2016
10:41
This looks more like 30p to me and hope for a new board to stream line
rickyvader
09/2/2016
08:54
Think the board should resign, terrible results, absolutely awful.
johnsoho
09/2/2016
08:31
Sorry to all holders but an accident waiting to happen .

buy @50p imo.

blueball
09/2/2016
08:29
Looked at this one after the last profits warning but now they have a real problem as management no longer have any credibility.
salpara111
09/2/2016
07:46
Bad timing PUKU. Profits warning today.
liam1om
08/2/2016
11:43
Hi multi bagger - thanks for highlighting CMBN on the LAKE thread - the drop there was much too heavy imho and after seeing Davidosh in there bought 20,000 at 35p, now 20 % up and happy to keep.

Re Cambian - I am a trustee at two charities that provide carers or support for carers. The local authorities are under pressure to cut their budgets and looking to reduce their funding to the trusts. seems mad as the LA would then have to buy in much more expensive private care such as Cambian. Social care is becoming more and more crucial in today's society and Cambian is at the forefront. Not yet profitable but getting there I think and meanwhile has all that property as security plus strong private equity backing.

Kagouter is a very big Chicago investment and portfolio manager and have upped their stake to 8%. Interestingly they had a big stake in Innovation when it was taken over. I am perhaps less cautious than your self and whilst over-priced before the big drop it is way over-sold, directors have bought, so have bought in today at 120p.

puku
24/1/2016
16:18
London, UK; 9 June 2014 – GI Partners (“GI”), a leading middle market private equity firm, announced that The Cambian Group plc (“Cambian̶1;), a portfolio company, successfully listed on the main market of the London Stock Exchange (CMBN.L) in April 2014. Cambian is one of the UK's largest specialist behavioural health service providers with a specific focus on children and adults who present high severity needs with challenging behaviours and complex care requirements. The Cambian Group was formed by the merger of three GI Partners portfolio companies (Cambian Group, Care Aspirations, and Advanced Childcare).

About The Cambian Group
Cambian was founded in 2004 through a management buyout of NHP Healthcare Partnership led by GI Partners. Cambian and GI Partners’ vision was to create the highest quality provider of specialist behavioural health services. At the time of GI’s investment, the company had three mental health rehabilitation hospitals and approximately 50 employees. Today, Cambian employs 6,000 people across a UK-wide portfolio of 249 purpose-designed facilities, comprising 23 schools, 35 hospitals, 188 specialist homes / day facilities, and 3 fostering offices. In 2010, Cambian implemented a shared services agreement with a GI Partners portfolio company, Care Aspirations, an independent provider of specialist learning disability services for adults, thereby expanding its service capabilities. In 2014, Cambian and Care Aspirations merged with GI portfolio company, Advanced Childcare, a leading provider of specialist behavioural, emotional, and social difficulties residential services, to form The Cambian Group, which subsequently went public on the London Stock Exchange. The combined entity affords the company a powerful strategic presence across both children and adults, as well as the four major segments of care: congenital, behavioural and emotional social difficulties, mental health, and acquired conditions.

multibagger
24/1/2016
16:06
Re CMBN going bust or being allowed to go bust - unlikely given the political ramifications. Southern Cross was a salutary lesson for the sector and for the politicians. Four Seasons (a Guy Hands enterprise backed by private equity) is struggling with massive debt - but Four Seasons is generic and commoditised elderly care provision with any number of small players in a fragmented market. They are virtually entirely dependent on Social Care income and with rising minimum wage and lower social care funding - it is a perfect storm. Four Seasons also has Huntercombe Group in its portfolio.

CMBN won't be allowed to go bust, as the patient group they look after cannot just be moved across to another provider. This is a niche clinical area they serve and as I said earlier there is no capacity or competitors who can step upto the plate.

From the company website.....

Cambian employs approximately 6,800 people across a UK-wide portfolio of 286 purpose-designed facilities, comprising 26 schools, 38 hospitals, 219 specialist homes and 3 fostering offices

multibagger
24/1/2016
16:02
Thanks Eastbourne1982

axxp://www.gipartners.com/european-real-estate-private-equity/home-page-items/investments/the-cambian-group

If ADVFN removes the link, please check the gipartners.com website which states

"Since 2005, Cambian has grown its footprint to more than 65 facilities across the UK with 99% of sites owned on a freehold basis".

They are rapidly increasing the number of places to patients they can offer - each place costs about £130k capex. The investor presentation on their website sets out the details. They have also made some acquisitions and they are revenue and profit enhancing - not sure if the full effect is priced in.

Many of the places they offer to Social Services / NHS cost in the region of several thousand pounds per week/ per patient - Recurrent, long term some of them will be for decades.

Recently the Priory Group was picked up by Arcadis for about £1.5b. There is consolidation going on in the sector and this could be a target given the relatively low market cap. Partnerships in Care, Care Principles, Cygnet, Alpha Hospitals have all been acquired/merged recently.

I won't write off CMBN off as yet - but will keep it on my radar for investment.

Good luck :)

multibagger
24/1/2016
14:11
Hi multibagger,

Is most of the property freehold ?? Regarding being backed by private equity, I wouldn't read to much into that, I've seen private equity groups lose their shirts time and time again.

Looking at their accounts again, year end 2014 showed ebitda of circa 49 million, sounds OK but ebitda is pretty meaningless, the pre tax loss was around 4 - 5 million, the October 2015 trading statement indicated ebitda would be not less than 54 million for the year to December 2015, at a wild guess this may come through as either a small pre tax loss or small pre tax profit, with a market cap of around 200 million and debts around 230 million this now looks pretty dodgy to me.

To think this was valued at approaching 600 million a few months ago is madness and it shows the inefficiencies of the market.

I stand by my previous comments, the market could unreasonably take the price back up towards £2, illogical imho based on the fundamentals or the company could go bust, I wouldn't totally rule this out as it has shown it struggles to make money, people will be fooled by ebitda and tempted by the share price fall (as I initially was) however when you dig deeper there are some big concerns here.

All the best.

eastbourne1982
24/1/2016
09:17
The debt may appear high, but the company has real estate worth a lot more (£600m region if I recall correctly). The company is backed by Private Equity who apparently control over $2 billion - so I am not unduly worried about the funding sustainability.

The services CMBN provide are social services/health services "business critical" and often have a statutory/legislative framework around the provision of care - so irrespective of cost, CMBN similar services will need to funded recurrently and over long time periods. This alone gives revenue visibility and price elasticity. No real alternative provision or competition on a scale / geographic footprint.

The market sentiment will turn around in due course, but for the moment, I won't rule out a sub £1 share price - so keeping my powder dry. I won't be surprised with RNS of multiple Director buying / share buybacks / trading update with positive news......there is no fundamental reason that would justify the scale of the sell off.

Good luck all :)

multibagger
22/1/2016
16:35
I have a good knowledge of the industry that CMBN are in - virtually recession proof, highly specialist provision with resultant good pricing power, recurrent revenue and no real competition. This will do very well but just need to get over the misplaced poor sentiment and I agree that the market has grossly overreacted. Trading update when it happens should improve matters I would think.
multibagger
21/1/2016
08:58
Seems a good plan to me.

I think the market overreacted to a relatively small deviation from expectations in November, partly because the company is new to the market and a relatively unknown quantity. I imagine the next news will surprise in the other direction - I don't see any quality concerns and healthcare seems likely to prove a safe bet in any economic slowdown. This latest plunge is just bonkers. I expect to see 320 again within a year, and 200 by the summer after the half year results.

Do you know if they report quarterly?

bennytheball
21/1/2016
08:34
No Benny - I'm out but on my radar as long term investment.
multibagger
21/1/2016
08:25
Multibagger, are you holding?
bennytheball
21/1/2016
08:24
Certainly caught my attention. Great opportunity to top up.
bennytheball
20/1/2016
13:50
The way this is dropping this could be sub £1...if there is no concerted attempt to shore up the share price. More Director buying would be welcome...

I'm pretty sure that this low price will catch the attention of bargain hunters...

multibagger
07/1/2016
12:52
At last - positions open ;-)
bennytheball
04/1/2016
12:41
I've still got an order in to open at 125p, which I think will form a strong support level after it hits a second time...
bennytheball
04/1/2016
11:33
Take a look at ATYM I,ve been in since 70's now close to £1 still plent to go, I,m also in Cambian waiting for recovery.
canaries2
02/1/2016
08:29
Still struggling for the share price to move up and this situation is likely to remain so till there is a more optimistic trading update.

Shame as it is a very sound and profitable business.

multibagger
23/11/2015
08:31
Can't resist opening a few positions at this price. Way oversold.
bennytheball
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