Claimar Care Share Discussion Threads

[aspers] 12/8/2008 10:17

Appears to have been a lot of buying over the last week or so, yet still the share price drips lower!! any thoughts on this, I think the new finance director starts today so fingers crossed for a quick turnaround, it would be nice to see him pick some shares up at this bargain price!!

[aspers] 11/8/2008 10:54

another chunk of trades today....hard to say but to me look like buys.......something going on in the background here!!

[badday] 06/8/2008 20:23

Seem an impressive lot?

[aspers] 06/8/2008 14:01

133,000 trades and all buys again today!!!

[prmoldoaks] 06/8/2008 13:08

yea, and he's not jumped in to buy more at this very very cheap level, however I do believe this one will get out of jail and 35p is where it should sit not 8p????

Valuations in this sector were running at 5.5x this Mkt cap is 2.5m, they paid more than that for one of thier small aquisitions.

Cash flow positive, so providing they can get costs down and controlled, this one will recover and in a recession staffing will be easier too.

[pictureframe] 05/8/2008 12:52

agree re director buy - postive . Although I doubt he is happy being £177,000 down at the moment !

[aspers] 05/8/2008 12:45

Picture....yes i agree though I understand that may very soon be sorted.....Directors buy at 14p was it, i guess at that stage he thought things were going to be sorted sooner than later......this will tick up fast on the first solid news of that funding, based on that I jumped aboard and am tempted to pick up more at this ever so cheap price.

[pictureframe] 05/8/2008 11:59

aspers - are you not concerned at the funding issues? That is the problem here, look at the balance sheet and you will see what I mean. Far to much value are intangibles.

IMO they will need fundraising , once out of the way then I feel is the time to buy not now as there will be heavy dilution. Just my musings ;0)

[aspers] 05/8/2008 09:39

someone keen to pick these up on the falls, bit of a nervy time but what stock isnt at the present time? I feel once the new FD steps aboard and hopefully picks up some stock this should start to move back north...if not in the longer term still a multibag I reckon.....good luck to those with balls of steel.

[aspers] 31/7/2008 20:14

Some good trade's gone through today, nearly all appear to be buys......looks like something good may be brewing....fingers crossed for some good finance news very soon.

[aspers] 31/7/2008 12:34

These really must be worth a punt now for the longer term.......will be interesting to see what action the new FD takes when he moves into office next month........as previously stated if he puts his hand in his pocket and buys some shares we may see a nice tick up.........still think this will recover long term and at this price will be multibag potential!!

[gac100] 21/7/2008 16:55

The CEO Hales is the only director in a position to make any substantial buy! The only other exec director, the FD (jackson) left on 8 May and the new one (Townend) doesn't join Claimar til 8 Aug. The two non-execs hold a few shares, and any further buys by them are likely to be piddling and not very meaningful. Substantial buys would compromise their independence, which I don't think would go down well with shareholders with Hales in such a position of unfettered power. If you are looking for buying by other directors, then the new FD is the one to watch come August.

[pictureframe] 21/7/2008 13:22

Ok so why havent any other directors bought then?

[aspers] 21/7/2008 13:08

because he knows funding is a done deal!!!

[pictureframe] 21/7/2008 11:11

could get a bid - wonder why the director bought almost 3million shares?

[whiterussians] 21/7/2008 11:08

will get a bid from mears, 30p?

[aspers] 21/7/2008 10:47

Claimar chairman John Crabtree said he expected profit and turnover to grow for the rest of 2008, but the board expected to fall short of trading expectations. "The first half of this year has been challenging and disappointing," he said. "We are disappointed recent trading has been adversely affected by a shortage of suitable staff across the group, but more noticeably in the Complete Care Group, our complex care business, and our inability to pass on the full charge of increased staff costs principally arising from the implementation of the working time directive and rising fuel claims.

"Management has set in train a rapid recovery plan. The main drive this year has been to focus on alternative revenue streams that can be obtained by cross selling to our growing service user base. We strongly believe this approach places us in a strong position to respond to changes in the way services are delivered."

The company, which provides domiciliary care to local authorities in the Midlands and the north west, said it faces further challenges.

But it added it believes prospects are good in the medium and long term, on the back of demographics, industry trends of consolidation, growing barriers to entry, and its strongly motivated and ambitious management team.

It said the ageing population and increasing number of people choosing to be cared for at home would pay off in the long run for Claimar.

Last week Claimar issued a trading statement saying it was unlikely to meet financial targets, because of unexpected costs.

The firm said it was finding it difficult to recoup the increased costs from local government groups, meaning Claimar had to take a hit. It also had to take on a large rise in interest payments on loans, which rose more than 500 per cent to £642,000 after the group borrowed to fund two acquisitions in recent months.

Claimar bought Telford-based Complete Care Group in October 2007 for £33.1 million.

The company, which employs about 700 carers, was Claimar's biggest acquisition to date, but has struggled to recruit enough full-time staff to cope with its success, meaning it had to take on expensive agency staff to fulfil contracts.
The acquisition had some early success, leading Claimar to higher full-year profits at the end of 2007, but saw its fortunes turn in 2008.

Claimar put in place a recovery strategy, and has already cancelled a small number of contracts to make savings of about £30,000 a month. Earlier this year, Claimar also bought the Ravenscroft group of companies, based in Preston, for just under £3 million.

And Mr Crabtree repeated the company's commitment to further acquisitions in the near future.

Despite the financial difficulties, Claimar said it continued to sign new contracts, including a doubling in the size of its contract with the local authority in Manchester to 3,500 hours of care a week.

It also signed a contract for another 1,500 hours of care a week in Rotherham, and opened new facilities in Lancashire.
Claimar said it would not be issuing a dividend this year.

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[aspers] 21/7/2008 10:38

taken a punt at 10p......looks a good target for takeover at this price!! good luck to one and all. Also long now with SCHE which in my opinion will soon be back above 150 once the finance deal concluded!!

[latifs100] 17/7/2008 09:12

worth a punt at 10p.. considering director buy?

[stemis] 16/7/2008 17:35

As at 31 March they had net debt of £19.048m.

Add this to market capitalisation of £5.0m and you get an enterprise value of £24m ish.

[latifs100] 16/7/2008 14:36

how much cash they got left

[steveb3] 30/6/2008 16:20

imo Amazing that he has not stepped down considering how much shareholder value has been destroyed during the last year !

The institutions that helped to fund the Complete Care purchase with a £20m+ placing at 137p must be seething with the current performance.