Casdon Share Discussion Threads

[robsbell] 25/1/2007 15:40

Heres my guess 6 million, to a property developer?

[hugepants] 25/1/2007 15:19

There seems to be much more liquidity now. I just checked online and you can trade in volume. Maximum of 750 shares to buy or sell. The market makers must be trying to encourage trading.

[gamblinman] 25/1/2007 15:14

Significant increase in value of property.What are we to expect it's a large site near the M55 with large modern warehouse on 7 year lease,older offices to front on lease,offices built in 70's one let and another block up for let plus new offices occupied in old warehouse or toolshop.

[robsbell] 25/1/2007 14:19

Good call J S. LOL

[robsbell] 25/1/2007 13:24

Realy good set of results, management have done a great job moving business back into profit. Pleased to read about getting property revalued this will give NAV a big boost from what it is now.
SP still too low 45-50p, I,m going to stick with these shares I,m sure there is more to come.

[gamblinman] 25/1/2007 12:36

£22000 rent plus rates cost saving means £30000 extra income just on upstairs offices with downstairs to let.Sounds good to me extra income plus revaluation from property.

[hugepants] 25/1/2007 12:22

Book value of property is 1.8M (32.5p per share). But that was in 1998. Im sure residential properties in Blackpool have doubled or trebled in that time. Not sure if that applies to a business property in a less than salubrious area. However even a 25% rise to 40p would be great as far as Im concerned. Also most of the property is not used by CDY, its really a separate business and could be sold.

[gamblinman] 25/1/2007 12:12

61.4 gives no value to the toy business which could be on a growth curve with 18 new products confidence sounds upbeat.The property revaluation covers a large site and could see quite a big jump after so many years.So yes all looks very good from 2 years ago.I cannot fault the directors every move was correct and should keep Casdon a household name for many years to come.

[hugepants] 25/1/2007 11:49

Its even looking cheap now on an earnings basis. Eps of 3.89p for H1. PE of 7 if H2 matches H1 (is H2 traditionally stronger because of Christmas?).

Following the refurbishment of both properties the Board
intends to obtain an independent valuation of the Company's properties for
inclusion in the 2007 accounts. The Board anticipates that this will reveal a
significant increase in value over the current book cost.

The NAV of 61.4p basically consists of property and working capital. So this should jump when property revalued. Confident outlook. Cant see any downside at this price.

[gamblinman] 25/1/2007 11:16

Agreed quite a shock all so clear now.

[philjeans] 25/1/2007 10:40

Good all round report; no probs; property revaluation coming; all systems go; net cash; worth a quid minimum.

Strong buy but can't get many!

[gamblinman] 23/1/2007 18:39

Hard to call results due in morn mayb not.One presistant seller with a buyer soon after.Like with other years nobody can predict.

[robsbell] 18/1/2007 11:37

Cassidy Bros could be a property company and toy retailer / manufacturer.
On value of company, cash in bank at last accounts was worth nearly 20p a share!

[gamblinman] 18/1/2007 10:22

The rental income from the property and interest on cash balance will provide some stability against a unpredictable retail sector.The property whilst once not of much importance is now the backbone for the future with the new slimmed down toy business a possible cash generator.The figures due I would have thought Monday will give a better view of recent changes.

[robsbell] 18/1/2007 08:30

I would certainly get the property revalued it could easily be worth twice as much as in 1998, and a hell of alot more than the toy business.

[gamblinman] 10/1/2007 15:20

Wow another 5000 @5p market maker having party £250 and £350 in two days crazy really.

[hugepants] 10/1/2007 11:46

Hmmm. Down again. Difficult to say given how this moves on negligible volume but I think there must at least be a possibility that there is some disapponting news to come.

However the surplus property, which is mostly rented out now and is effectively in addition to the toy business, is in the books at 1.8M and last valued in 1998. Even if its still worth the same thats 33p per share, the current share price. They could effectively sell the excess property and bank the current market cap from the proceeds.

So as far as Im concerned this is a safe investment whatever happens. Property + net liquid assets worth 58p. Business profitable as at last results.

[gamblinman] 09/1/2007 18:01

That seller back but quickly taken out for what looks like a 5p a share MM profit.I would not call that acceptable in any market £350.Maybe two sells though hard to judge.

[graham westley] 09/1/2007 13:21

Odds on them having to release corrected results this time around?

4/6 imo.

[hugepants] 09/1/2007 12:15

Just looking back interims are generally out in 3rd or 4th week of January. They have to be out by the end of the month.

[gamblinman] 28/12/2006 13:58

Agree topvest you can only go on last results for guidance MM'S not really playing any part.Be interesting to see if there is any follow through from the second half turnaround in the next few weeks when results are due.

[topvest] 27/12/2006 21:14

With most shares, I would agree. With this one, the market doesn't seem to have a clue how well or badly the company are doing. Results always seem to surprise one way or the other! I suspect it is just the market makers trying to shift £500 worth of shares or something.

[ydderf] 27/12/2006 16:27

Not a good sign, a fall after Christmas suggests disappointment to come!

[hugepants] 21/12/2006 14:59

Well at least the property business is being reflected in the current share price. Now we've just got to wait until the toy business gets valued! I hope theyre having a good christmas.

BTW. What kind of yield will CDY be getting on their properties?