Cambria Automobiles Share Discussion Threads

[rp19] 09/5/2017 20:23

Solid growth. I was, however, a little confused by the statement that "We are therefore confident that the full year results will be slightly ahead of the current market expectations" given that they also said "Trading in the combined months of March and April was in line with previous year". I'd have thought that an "ahead" projection would have needed more than a flat March and April?

[davidosh] 09/5/2017 17:43

I can confirm that I have also arranged a conference call with Mark Lavery and James Mullins @ 4pm tomorrow. They will talk us through the results presentation and will be able to answer any questions so let me know if any of you want to join that one ?

[mortimer7] 09/5/2017 09:56

Solid set of interim results out today, underpinning their ongoing success.
Very impressive how the management team seem to be in tight control of this business.
Positive outlook as well with CEO stating today "We are therefore confident that the full year results will be slightly ahead of the current market expectations".

Share price up modestly by 5% to 73p this morning, with surprisingly little volume.

[davidosh] 08/5/2017 14:13

Would any of you like to attend a lunch presentation with the directors on Wednesday at 12.30 in london ? Just mail me via mellomeeting.co.uk

[mortimer7] 08/5/2017 09:03

Interim results to 28th Feb due tomorrow. After the pre close update in March we already know they are ahead year on year.
Last year on interim results day the share price opened at 70p & closed at 79.5p.
I doubt there will be anything like that this year, but you never know!

[wilmdav] 04/5/2017 10:33

I expect this was responsible for the slight blip in share price, reported first in the Times.

[effortless cool] 04/5/2017 10:31

Thanks for those updates.

[mortimer7] 04/5/2017 09:13

Commenting on Aprils figures, Mike Hawes, SMMT Chief Executive, said:

"With the rush to register new cars and avoid VED tax rises before the end of March, as well as fewer selling days due to the later Easter, April was always going to be much slower. It’s important to note that the market remains at record levels as customers still see many benefits in purchasing a new car. We therefore expect demand to stabilise over the year as the turbulence created by these tax changes decreases".

[mortimer7] 04/5/2017 09:11

Todays SMMT figures for April 2017 show a 19.8% year on year drop in new car registrations this morning. Total regns were 152,076.
This reduction was expected as the effects of the Vehicle Excise Duty changes from 1st April kicked in, and had brought forward many regns in to March.
The two months March and April combined total for 2017 is 714,413 compared to last years of 708,212.

[mortimer7] 05/4/2017 09:20

Records tumble as March UK new car market hits all-time high...
New car registration unit stats issued today by SMMT show 562,337 new cars were registered in March 2017. A new record month, 8.4% up on March 2016.
Registration have now jumped 6.2% in Q1 2017 to 820,016 units, a new record quarter.

Undoubtedly these figures are boosted by consumers & businesses reacting to new tax changes effective from 1st April, pulling forward purchases into March.

[effortless cool] 12/3/2017 09:40

Header updated with reforecast to reflect the pre-close trading update. Still a STRONG BUY for me.

[rimmy2000] 07/3/2017 10:30

Exactly. Real point I'd do you trust the forecasts. RNS today points to substantial outperformance

[expletive deleted] 07/3/2017 09:30

That's exactly right, hence the lowly valuation.However, I expect them to continue to beat forecasts and to throw off a lot of cash.

[jaf111] 07/3/2017 09:10

surely cant be right rimmy....basically no eps growth over next couple of years!

[rimmy2000] 07/3/2017 08:51

N1 singer 8.2p Zeus 8.3p for 2017 and 2018 is 8.5p.

[jaf111] 07/3/2017 08:37

Decent Trading Update.....

The Group has maintained its momentum from the strong results delivered in the last financial year and its trading performance in the first five months of the current financial year has been substantially ahead of the corresponding period in 2015/16, both on a total and like-for-like basis.

2016 underlying eps were 8.33p - does anyone one have updated broker forecasts?

[mortimer7] 06/3/2017 09:07

SMMT have published their new car registration figures for the month of February 2017 this morning.
A total of 83,115 units were registered compared to 83,395 in February 2016, a slight drop of 0.3% year on year, but 2017 YTD still ahead of 2016.
February along with August being the 2 months for least registrations in the UK & therefore fairly insignificant in terms of gauging market trend.

[effortless cool] 10/2/2017 19:36

1. Good spot - must be a typo.

2. They don't really give any indication on this.

[qvg] 10/2/2017 17:53

I am just reading the YE 31 August 2016 Annual Report. I wondered if those who know the company and industry well could kindly answer two questions?

1. Note 22 (d) at the bottom of page 54 gives the impact of “an increase of 0.5 basis points in interest rates”. From the table, such an increase would decrease profit by £211,000. There are 100 basis points in 1%, right? If yes, i calculate that a 1% increase in interest rates would hit the P&L with a £42.2 million decrease in profit. Wow! Have i screwed up somewhere? Or is 0.5 basis points a typo and should read 0.5%.

2. I could not find any breakdown of the £58.4 Administrative expenses. I assume this includes all the staff costs (£38.7m). If not, how do they get to such a large figure? If correct, does anybody have any calculation (could be approximate) of how the Gross Profit per revenue stream (new sales, used sales, after sales) looks like after staff costs have been allocated and deducted?

[effortless cool] 07/2/2017 14:52

They do look good appointments; complementary skill sets to the operational expertise of the executives.

[davidosh] 07/2/2017 14:32

The two non exec appointments today seems to have caught the attention more than the SMMT figures yesterday

[mortimer7] 06/2/2017 09:34

Indeed. SMMT narrative today is stating "some cooling is anticipated over the coming months".
And also "but provided interest rates remain low and the economy stable, the market is in a good position to withstand its short-term challenges".

[effortless cool] 06/2/2017 09:27

That's certainly a good start to the year, given that SMMT were forecasting a 5% fall in new car sales in 2017.

[mortimer7] 06/2/2017 09:12

SMMT have published their new car registration figures for the month of Jnauary 2017 this morning.
A total of 174,564 units were registered compared to 169,678 in January 2016.
Within this total figure, private registrations led the growth, registering 76,729 new cars – up 5.0% on January 2016.

The increase in private regns is a significant point for Cambria as their new car sales are predominantly in to this sector as opposed to Fleet.