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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Carclo Plc | CAR | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| -0.30 | -1.26% | 23.60 | 08:01:33 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 23.60 | 23.60 | 23.60 | 23.90 |
| Industry Sector |
|---|
| CHEMICALS |
| Top Posts |
|---|
Posted at 02/1/2025 10:09 by arthur_lame_stocks valueinvturnI think I'm right in saying CAR has a property portfolio valued at about £23m, presumably freehold and there may be substantial unrealised value in this if they are freehold. However, if they arrange a sale and leaseback of these properties to pay down debt they will then have another liability on top of the pension fund deficit payments which will be a drain on cash as much as the debt interest is. Ultimately, I believe if there is upside in these shares it is all in the property and not the prospects for trading. |
Posted at 01/1/2025 18:57 by arthur_lame_stocks One thing CAR does appear to have in its favour is a large property portfolio. |
Posted at 30/12/2024 13:08 by saadia110 It was in his weekend review available on X. It was just one sentence in the middle which read like "still holding CAR (reduced)". I think he is wrong to reduce. He sold out of OTB around 150ish and then on results bought back in (opening was 180) so much higher price. It is now 240+. So he does make mistakes and people should not see him as being infallible. |
Posted at 26/12/2024 17:50 by arthur_lame_stocks hi valueinvturn.There are a number of factors I think combine to make CAR a deeply unappealing investment, mainly, poor cashflow and high net debt, a very large pension fund that is in serious deficit and despite being a long time liability this deficit still needs to be paid from cashflow every year. Also the assumptions they use to calculate this deficit seem very generous in CAR's favour. For example I think they only expect a male pensioner of 65 to live to 82, whereas most other companies will predict an age of 86-87. This means if they can't get those assumptions past their actuary the deficit recovery payments may need to rise substantially for an already cash strapped company. On the topic of cashflow, I think despite claiming a reduction in debt at the half year stage they actually burnt cash and hence the financial position has actually worsened. To give you an example: there was a favourable working capital movement of £2m which went towards the £7m of cash generated. There was also a depreciation charge of £3m. Put against this however, they only spent £270k on property and plant, paid £2m in interest and £1.2m into the pension fund. I believe they lack the cash to currently invest in the business at the moment and after new loan drawings actually burnt a couple of million in cash effectively. On the subject of margins I don't believe a plastic extruder will ever make a net margin of 10% in the long run and also the Government is already looking at ways to save on medical plastic waste as part of a wider drive to cut plastic use greatly. You can verify this for yourself with a simple Google search. I believe Carclo's financial position is precarious and they will only survive with a fairly urgent fundraising which they may already be planning. |
Posted at 23/12/2024 07:02 by arthur_lame_stocks Schroders have nearly £800bn under management, a couple of million into CAR is a drop in the ocean for them, and then you'd have to know if it was in a special sits fund or something.I still think these badly need a fundraising, after working capital movements they are actually burning cash. |
Posted at 07/12/2024 21:16 by wigwammer "if your not receiving a dividend what are you getting out of your holding" .. about a 300% capital gain so far (about 400% last time).. but I believe you got nothing... atb :) |
Posted at 07/12/2024 17:07 by beeezzz .Brokers notes taken with pinch of salt, all part of the cozy financial institutions club...Believe them if you like...if your not receiving a dividend what are you getting out of your holding...Likelihood of a dividend on these paper thin profits is never. |
Posted at 05/12/2024 08:33 by arthur_lame_stocks Wigwammer. Price is what you pay and value is what you getBy the way, enjoy your dividend. |
Posted at 06/11/2024 11:07 by rivaldo Indeed! Maybe to do with the victorious Trump's prioritisation of domestic production over tariffed imports benefiting CAR given CAR's already multi-location presence in North America? |
Posted at 24/7/2024 05:48 by wigwammer At 10% op margin, Carclo will be earning circa £13m ebit pa. Assuming interest of £5.6m and a 20% tax rate leaves a very healthy £5.9m net profit each year. This can be used to pay down liabilities, or even one day, pay a dividend. On top of this, Carclo operate in a growing industry, so we can anticipate over time that both top and bottom line will grow at a healthy clip, and that sort of profile usually attracts a high earnings multiple..... Carclo does attract a long list of mathematically challenged sceptics, and imprecise and emotive terms like "shedding cash" are usually associated with attention seekers rather than truth seekers. IMO |
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