Share Name Share Symbol Market Type Share ISIN Share Description
Cambria Automobiles Plc LSE:CAMB London Ordinary Share GB00B4R32X65 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 82.50 81.00 84.00 82.50 81.75 82.50 47,328 08:00:23
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Retailers 524.0 10.2 8.2 10.0 83

Cambria Automobiles Share Discussion Threads

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Clock ticking...... "the Management Team are required, by not later than 5.00 p.m. on 19/04/2021, to either announce a firm intention to make an offer for the Company in accordance with Rule 2.7 of the Takeover Code or announce that they do not intend to make an offer for the Company"
SMMT have announced the number of new cars registered in the UK during the month of March was 283,964, an increase of 11.5% compared to March 2020 figure of 254,684. Looking ahead, last April total units was 4,321 so the percentage increase for April 2021 could be 4000%!!
Website states "The number of shares not in public hands is 56.9%" So presumably M Lavery owns 40% & the other directors 3.1%.
Easy to get funding from PE for a deal like this. A cheap share with strong asset backing, good management and excellent prospects, come April. Buy it, use debt capital to expand through acquisitions and float it again in five years' time.
effortless cool
what is the total % held be directors
Wonder where they're getting the funding from, or have any of them the private resources?
Since Lavery has 40% already perhaps difficult to see any counter.... Having said that hard to see how the Board could reject any offer at a higher level so perhaps (hopefully) game on. Certainly agree that 80p is a bargain take-out price.......
Cambria outlook statements have been surprisingly downbeat and cautious recently, despite the good numbers, particularly compared to more upbeat statements at Vertu. Interesting.
80p seems light to me. They will be coming out of lockdown with a very cost efficient business and, probably, lots of pent up demand to satisfy. Amy thoughts, anyone?
effortless cool
If they take it Private, at least Lavery can pay himself a decent salary !!!!!!
Latest Q&A with Mike Allen at Zeus Capital "expect pent up demand for this outperformer" - hTtps://www.directorstalkinterviews.com/cambria-automobiles-analyst-qa-in-a-very-good-shape-in-terms-of-cost-and-cash-loncamb/412968759
SMMT have announced the number of new cars registered in the UK during the month of February was 51,312, a fall of 35.5% compared to February 2020 figure of 79,594.
Zeus; Cambria has announced a pre-closed trading update for the 5 months to 31 January 2021. Encouragingly, trading performance for the period is ahead YOY (H1 FY20A PBT of £6.3m) albeit we acknowledge this has been largely driven by management actions on costs and government stimulus. While volumes have been impacted by the current lockdown, in line with wider market trends, gross profit per unit dynamics continue to be positive aided by Cambria’s premium mix. Our forecasts remain suspended for now, although we anticipate reinstating estimates when Cambria reports H1 results on 5 May. The Group’s balance sheet remains robust and we continue to see Cambria as a key survivor in the industry. § Trading update: Cambria has released a pre-close trading update for the 5 months to 31 January 2021, which follows on from its AGM trading update made on 7 January. Clearly significant uncertainty remains, albeit there is some visibility that car dealerships can potentially open from 12 April at the earliest. § Performance drivers: During the period, the new car market was down 14.4%, with private registrations -13.3% and diesel -37.3%. Cambria Group unit sales were -14.3% (private -15.3%) on the same basis. Used vehicle units for Cambria were down 31% during the period, with gross profit per unit +16.4% partially offsetting this unit reduction. Aftersales saw a 14% drop in revenue during the period, but contribution increased due to the Group’s lower cost base. Overall trading performance during the period was ahead of last year, although largely the result of management’s own cost initiatives as well as the Government support received. Net debt as at the end of February was £5.7m, with the Group fully up to date on all VAT payments having not utilised the VAT deferral scheme, which we view as a strong position. § Outlook: While the performance for the first five months is pleasing, the outlook remains uncertain. The order book for March is behind its prior year comparative, although this does not surprise us and is consistent with what we are seeing elsewhere in the sector. We would envisage reinstating forecasts into the market when H1 results are reported on 5 May, providing the end of Lockdown 3 phases out as currently anticipated. § Investment view: We remain of the view that Cambria will emerge as a survivor in an industry facing unparalleled disruption and volatility at present. The Group is well managed with a solid balance sheet and has performed robustly in unprecedented trading conditions, taking a prudent approach to the management of both its cost base and cash flows.
This morning the SMMT has published the numbers for UK new car registrations for January. Total registrations were 90,249, a reduction of 39.5% on January 2020 total of 149,279. Today SMMT have issued their revised forecast for the full year registrations which is 1,887,000 which would represent a 15.7% increase on 2020 total.
In the Zeus note it said “adjusted for lockdown” which is different wording and would imply a different story... wonder if this is sloppy from their perspective, or if they know different? In the N+1 Singer note it would imply your understanding (and how I read it from the RNS) which was it was ahead despite having a period of lockdown - which is impressive.
This extract is interesting. "Notwithstanding the Lockdown impact, the Group's trading performance for the first three months of the current financial year to 31 August 2021 has been ahead of the corresponding period in 2020". This covers September to November 2020, so includes most of the second lockdown, with the comparison against a period entirely unaffected by COVID. Revenues are down significantly so margins must be up materially. Perhaps this is a new paradigm for car dealerships.
effortless cool
Thanks, Mortimer, your monthly SMMT updates are appreciated. Next we have the AGM trading update tomorrow morning ....
effortless cool
This morning the SMMT has published the numbers for UK new car registrations for December. Total registrations were 132,682, a reduction of 10.9% on Dec '19 total of 148,997. Total figure for 2020 is 1,631,064 vs 2,311,140 last year. SMMT revised their 2020 forecast in July this year to 1,603,000, so H2 has turned out just slightly better than expected. SMMT Commentary "with the rollout of vaccines and clarity over our new relationship with the EU, we must make 2021 a year of recovery. With manufacturers bringing record numbers of electrified vehicles to market over the coming months, we will work with government to encourage drivers to make the switch, while promoting investment in our globally-renowned manufacturing base – recharging the market, industry and economy".
SMMT figures released today show the total number of new cars registered in the UK in November were 113,781 vs 156,621 last year. A 27.4% reduction on November 2019.
Covered in Investor's Champion's latest update - tough period, but what of the outrageous remuneration of the CEO which consumes a good chunck of profit?!
Zeus; Resilience in turbulent times Cambria has delivered a resilient set of FY results in very turbulent times for the automotive industry at present. Underlying EBIT was within 4% of last year (or 7% if IFRS 16 impact is stripped out) mainly driven by strong cost control and Government support. Cash generation and the balance sheet remains robust, and we continue to see Cambria as a strong survivor, albeit with more turbulent times ahead as we head into 2021 and beyond. § Final results: This was very much a year of two halves with H1 strong as previously flagged to the end of February, with H2 heavily impacted by COVID-19. H1 PBT was £6.3m vs. £5.5m last year as announced in May, with implied H2 PBT of £4.9m vs. £6.8m last year. Revenues were -20.3% YOY with adjusted PBT -9.8% to £11.1m. The key observation we would make is underlying EBIT being just 4% down YOY or 7% fully adjusted for IFRS 16 driven by the recovery that took place from June as the UK came out of the first lockdown as well as strong cost control throughout the business. Cash generation was robust, and the balance sheet remains strong, with underlying ROE at 13% still ahead of its cost of capital. § Key drivers: As expected, all parts of the business fell in profit terms YOY, with significant cost control measures and Government stimulus that was put in place helping to preserve PBT levels being within 10% of last year. New vehicle sales were -25.2% with profit per unit increasing by 2.7% due to a favourable mix. F&I penetration remained high at 80.2% during the year. Used car units were -20.9% YOY, albeit the profit per unit +7.7% helped to minimise the gross profit YOY reduction. The drop in aftersales revenue was less severe at -14.7% with gross margins here remaining robust at 39.5%. § Outlook: The outlook continues to be cautious with a number of issues facing Cambria and the wider industry at present. Trading in September and October was ahead of last year, but turned negative again once the second lockdown commenced. There are many major uncertainties facing the industry at present including Brexit, Emissions and general economic issues namely anticipated rising levels of unemployment. § Investment view: We continue to see Cambria as one of the survivors in an industry where significant change, disruption and potentially consolidation is anticipated. The Group is well managed and has a strong balance sheet, and we believe its performance to date has been robust in tough and unprecedented trading conditions.
FY results tomorrow for this forgotten share.
effortless cool
The total number of new cars registered in the UK in October were 140,945 vs 143,251 last year. A 1.6% reduction on October 2019. (SMMT Figures).
The total number of new cars registered in the UK in September were 328,041 vs 343,255 last year. A 4.4% reduction on September 2019. (SMMT Figures).
SMMT have reported today that UK new car registrations in August were 87,226. A 5.8% decrease on August 2019 total of 92,573. SMMT commented: "August is typically one the new car market’s quietest months, it’s important not to draw too many conclusions from these figures alone. With the all-important plate change month just around the corner, September is likely to provide a better barometer".
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