Chapelthorpe Share Discussion Threads

[jacob08] 24/3/2010 07:22

morning tara: any new stocks that you may be piling into today??? tia

[tara7] 24/3/2010 07:22

Nice write up in the D.Exp today.

[tara7] 24/3/2010 07:20

Zak not telling you again yes.!!

[zak_mo] 23/3/2010 22:15

tara are u still in YCO

[btooth] 23/3/2010 21:52

This company is making practically zero operating profit even before funding a pensions deficit, with turnover falling 09/10 and a pensions blackhole growing! An increase in margins is only just covering up some massive cracks!

[cockneyrebel] 23/3/2010 21:37

I looked at these today.

I read them saying they would do an operating profit higher than last year - but surely they made an operating loss last year? So that wouldn't be saying much.

The CEO has been buying which might be positive but it was only about £14K worth so not an overly committed buy. What this needs is a massive change of the board imo . This co has been so badly run for years that I don't believe the directors can just suddenly become savvy.

Biggest buy today only looks like £5K worth so the rise isn't on heavy buying.

I think it's the same board as when they were making umbrellas wasn't it? If you can't sell umbrellas in the UK and make a go of it then gawd help um!


Hope I'm wrong and you all make loadsa dosh. If you believe in them then stick to your faith, don't listen to me - come back and taunt me in a years time! :-)

Good luck

CR

[lily82] 23/3/2010 21:03

Pension deficit is GBP8.8m against £4.7million value for Chapelthorpe itself.The size of the deficit and the amount of increase are of big concern to small PI's.Net Borrowings at 30 September 2009 were GBP3.2m !It is simply a forgettable AIM dog not particularly special.Sorry to see quick jumpers will easily lose their money soon!get a lesson,or you will lose money again.

[tara7] 23/3/2010 20:14

Pension is just £8 m down based on falling bond yields. The pension fund should have seen share gains of 25% of that in my view since. By paying in an extra £500,000 pa will sort the pension out in my view. I do not have any worries on that count. In a year or two bond yields could be 5% in any event.

[devonlad] 23/3/2010 19:25

btooth, that's exactly why the shares were trading at 15p - the company was priced to go bust!

Re-read the accounts, bar the pensions issue, this appears to be massively under priced especially going forward. EBITDA was £2m in the first half, net debt very manageable. Financing the pensions is the major issue. As operating profit has obviously increased substantially in the second half, the company should move rapidly towards profitability. The main issue is the "discount rate used to determine the value of the Scheme's liabilities". The latest data that I can find indicates that the yield is low but starting to rise, anyone care to update this?

The upshot really is that the management must be very confident to issue such an RNS. My hunch is that there may be external influences rising in the background that are forming to put pressure on the management and I would hazard a guess that it is the largest shareholder. All imho! Any comments welcome.

[zak_mo] 23/3/2010 16:37

tara whats your view in share price in short and long term

[tara7] 23/3/2010 16:11

Btooth, the directors have come through the worst two years ever, and are going to make very large profits in my view. Read the trading statement, look up not down and walk tall. If you worry STAY AWAY.!!

[btooth] 23/3/2010 16:08

So operating profit was £387,000 before exceptionals at half year end 30/9/09! Considering turnover was £39m for the half year the margins need to increase otherwise this business would go bust! Margins may of increased but the turnover will be down year on year! Pension deficit also growing. You can see why the shares were trading at 15p not long ago compared with £2 odd not long ago.

[mikeja] 23/3/2010 15:09

Tara's point about margins is good,however at the interim they did have a pension deficit of £8.8m which hit profits owing to increased provisions.

[pre] 23/3/2010 14:02

...another to add to the list imo is TXR...rns out today...looks like the upside there could be significant, dyor etc & gla:-)

[tara7] 23/3/2010 13:46

Re rating starts today. Trust has been blown out of the water in the past. Thats why you can buy stock under 68p today.However things are clearly on the up in my view.

[jacob08] 23/3/2010 13:42

tat=ra: what is fair value you here

[tara7] 23/3/2010 13:40

Milacs , you are not paying high st prices for the shares . They can be bought for in my view a song. Just take the view that today is day one, for the company, and it will clear your head. Look what they can do with a T/O of 100M next year, after others have gone bust and prices can be raised.

[xb2] 23/3/2010 13:40

HLO looks interesting!!! quick rebouncing ahead!

Sorry O/T

[milacs] 23/3/2010 13:35

Yea, in December the four Directors spent a TOTAL OF £15,000 on these shares.

BIG DEAL!!

M

[tara7] 23/3/2010 12:02

25 full offer

[kirk2] 23/3/2010 11:24

still cant buy online this has a long wat to go yet

[sidarthur2] 23/3/2010 10:52

tara

that was a bit below the belt so to speak!!

cheers
sid

[jonnyfro] 23/3/2010 10:50

Im out for a nice 10% profit - good luck all

[jonnyfro] 23/3/2010 10:21

The defensive stance of the mms indicate they dont want to move this higher but the fact that you can sell way above the bid shows how short of stock they are.. Remember 12M in freefloat so we are going to have a very illiquid stock!

if the buys keep flowing in they will have no choice other than to push this considerably higher