Carr's Share Discussion Threads

[kinwah] 05/11/2024 12:11

Almost a month on from the trading statement. There's been no interest shown in the former head office and the price has been dropped to £750k. It could convert into a nice lifestyle hotel if anyone fancies it. Plenty of lawn for marquees etc. I suspect the newish board are finding the engineering assets to be a bit of a mixture hence the broadly in line comment. If you've dealt with Germany recently as I have, the economy seems to be seizing up and the famous German efficiency has disappeared. I wouldn't be surprised if Carr's German activities have been impacted. The US is probably alright apart from feedblocks with continuing regional droughts. I am convinced Engineering will be broken up and sold off piecemeal. Maybe they are close to making the first disposals. Still another 5-6 weeks until the final results.

[sobalym] 09/10/2024 08:17

CWAI

I agree entirely with your comment. Very amateurish to use the word "broadly" and the market has responded accordingly. I should add it is ridiculous to have to wait over 3 months for the final results to be published. I had hoped that the Company was at last going in the right direction but I now have my doubts.

[cwa1] 09/10/2024 06:57

I don't particularly like the "broadly in line" comment, it almost always turns out to be very slightly below expectations IMO. And, also, why not state what expectations actually are? Annoying

[kinwah] 09/10/2024 06:52

Trading update. Things are progressing across the board. Strategic options for engineering although the hope is to sell it. Focused Agriculture strategy must be code for potentially selling off part of those activities. Surplus property includes the former head office which was put on the market for just £850,000 which sounds cheap for 2 acres in the centre of Carlisle but Hadrian's Wall runs through the grounds and the property is in a conservation area. Probably a planning battle to do anything other than converting it to luxury flats. The pension fund is in surplus so they're looking at a buy-out. Results in December but they're not very relevant compared to how they do realising cash from the assets up for sale.

[c3479z] 18/9/2024 16:02

not sure if it's an ambition or whether it's presently or shortly to go on sale...

[somethingsup] 15/9/2024 13:11

Where did you hear that and is that the whole Engineering Group (UK & Int). What price?

[c3479z] 13/9/2024 10:30

rumour that the engineering side is up for sale?
includes their excellent specialised leading hazardous radioactive handling facility that ought to fetch a high price and has probably a unique position at Sellafield and limited competition.
would leave behind the agricultural division which looks a bit dull presently and needs reinvigorating.

[kinwah] 10/6/2024 06:25

Change of registered and head office. Normally when a company announces this it isn't of any significance. But it is with CARR. I suspect they have been based in the Victorian manor house for over 70 years. Obviously the company now has many fewer employees based in Carlisle and it's time to sell the property. It's a pity it's not on the banks of Lake Windermere but I guess they might get up to £2 million for it. Even paying rent on the new place there should be a cost saving.

[kinwah] 06/6/2024 13:47

CARR often experiences a jump in the share price the day after the dividend is paid as it has quite a substantial DRIP (Dividend Re-investment Plan). It may be that buying in a tight market has also triggered some speculative buying. Let's see.

[raquet] 06/6/2024 10:44

Jump in price to a 9 month high. Is news of the sale of the Engineering division about to be released ?

[sammu] 18/4/2024 16:29

They should move to Aim as part of this process.

[kinwah] 18/4/2024 14:01

Engineering is having a better year but it is cyclical. There are no great synergies between the different engineering businesses although they have tried hard to find them. Once broken up the prices they should get for engineering are probably higher now than at any stage in the last 5 years. Cashing in now seems a good strategy. Specialty Ag is at its low point and would fetch a poor price if sold now. It makes sense to try and build it up and wait for the US cattle herd cycle to turn. I'm hoping a good price for the engineering division could mean a share buyback by tender.

[forensic] 18/4/2024 11:09

They are looking at selling off the best bit! - why not keep the fast growing engineering division and invest in it, and sell off the agriculture division. I hope the engineering division doesn't get sold off cheaply to the management.

[pdosullivan] 18/4/2024 06:42

Good to see the outcome of the strategic review. It will simplify the investment case for the group.

[kinwah] 18/4/2024 06:32

As expected a strategic review to release value from the engineering businesses. Trading is difficult with the US feed blocks. Specialty ag is clearly subscale so it looks like they want to fatten it up to make it a stronger business to create more value.

[picnic] 28/2/2024 21:26

Those votes against of 19% tie in with the Harwood holding.Very strange , i suppose they know what they are doing?

[kinwah] 08/2/2024 01:26

The AGM is at 10am on 20th February in the centre of Carlisle. I was hoping to make it but that's too early for me. It looks like there's plenty of scope to cut central overheads. The non-glossy report and accounts printed in black and white must save a few quid. I'm wondering what Martin Rowland the Executive Director of Transformation makes of the ragtag collection of engineering businesses. I wouldn't be surprised if the engineering division was systematically dismantled to focus on animal nutrition. How much it would be worth though is anybody's guess.

[somethingsup] 22/1/2024 20:21

More likely picking up dividend before going Ex on 25th Jan? Maybe?

[skyship] 22/1/2024 12:45

Intriguing strength here. Bid coming?

[arthur_lame_stocks] 16/1/2024 10:27

I've started a new thread to discuss a broad spectrum of value shares. Carr's seems to be the sort of stock on the thread.

If any of you want to take a look the ticker is VALUE.

[cwa1] 16/1/2024 10:19

Harwood just short of 20% after that stake announcement...

[somethingsup] 15/1/2024 18:39

Until yesterday there were 2 Major Shareholders with 4,750,000 shares each; Jupiter sold as we know via todays RNS but also Rights and Investment Trust that also has/had 4,750,000 shares. Perhaps the 2 identical sales were not a mistake but both above lots have gone. To whom!?

[somethingsup] 15/1/2024 16:51

Question is; whose bought them?

[no dice] 15/1/2024 15:35

So it was Jupiter exiting their entire position of 4.75m shares on Friday. This appeared as two trades of 4.75m for some reason, both at 115p per share.