Clarkson Share Discussion Threads

[priscilla] 29/3/2006 12:17

I feel a bit of a fraud as my timing's usually not so great but I did bag a few CKN on 16th March at £7.68, so one very happy bunny!

[edmundshaw] 29/3/2006 11:42

Agreed, certainly worth over £9 now, probably over £10. And dividend near 4%!

I have bought back in (cheaper!) after a couple of months profitable deployment of capital elsewhere, as the story is considerably better than I expected.

I love the new reporting detail, makes investment much better informed, which at these levels is more important than when CKN were trading under £2.

Nice dividend, good prospects for the newer divisions, and adequate results in weaker markets from the rest... some hit the bonus hike, but that's the market. And it's in the price...

Well done to those who predicted these results.

[cockneyrebel] 29/3/2006 10:12

2006 estimates will be upped significantly imo. They are always low because brokers are always waiting for a shipping slow down but CKN have sailed through the slowdown where they now have much greater spread of earnings, reducing th evolatility. I think this will appeal to larger investors now.

115p eps+ this year imo - PE 7.4 I reckon, less if you strip out the year end divi.

past 4 years eps growth = 18p eps, 55p eps, 84p eps, 108p eps

past 4 years divi growth = 15p div, 17.5p div, 25p div, 32p div.


ISAable too.

Worth way more than £9 imo, probably see a new high from these results over a couple of months imo.

CR

[bigbobjoylove] 29/3/2006 08:52

blimey cheap now.

[cambium] 29/3/2006 08:07

Financial highlights

* Record results
16% increase in profit before taxation.

* Increased earnings per share
11% increase in earnings per share.

* Increased dividend
Dividend of 32.0 pence per share (2004: 25.0 pence per share), an increase of 28%.

* Profit on discontinued operations
#5.7 million profit after taxation and before minority interests.

* Strong cash flow
Cash and short-term deposits of #55.1 million against #44.1 million last year.

* Continued global expansion

[doubleorquits] 29/3/2006 08:06

Excellent. I must admit to having some concerns about the outlook but this seems to be strong as well.

[rochdae] 29/3/2006 07:53

Great stuff. Smell of quality and cheap as they come.

[cockneyrebel] 29/3/2006 07:52

cracking results and very upbeat outlook.

Got to go back to £9 on these imo.

CR

[idioterna] 29/3/2006 07:50

Outstanding results.

[maksud] 29/3/2006 07:29

well im impressed with results, and transparency in the result from previous years should increase shareprice .

[gsands] 27/3/2006 15:02

MACD crossed below the line today. Looks good for a rise this week.






From the last set of results:

Our recent strong results confirm our ability to grow globally, both organically
with new locations, new services and increased market share and by acquisition.
This international strength should enable us to continue to prosper as a
business whatever the short-term state of the market or currency. Our most
valuable asset is our staff. New offices in Athens, Dubai, London, Shanghai and
Singapore reflect the importance we place on continuing to service our customers
where their business is. We wish to ensure our employees achieve their business
potential in the best working environment. Our main overhead, being staff
remuneration, remains variable due to profit linked bonuses. We also enjoy a
substantial forward order book which underpins earnings from year to year.

[cockneyrebel] 23/3/2006 18:54

Back in from yesterday - BMS results suggest all isn't bad in the shipping industry and if BMS are doing well then CKN should be doing even better imo.

Cheap as chips and great support on the chart at this level.

CR

[huwrayhenry] 23/3/2006 18:32

yea in today 780.
sp should move along from here.

[andyh78] 23/3/2006 16:05

Thats definately a confirmed double bottom.
I'd expect to see 850p in the next couple of days.

[Abuse team] 23/3/2006 16:04

Post removed by ADVFN

[doubleorquits] 23/3/2006 16:04

Beginning to move nicely. Shares Mag mentioned CKN and BMS today but tipped FSJ and SUB as better picks. But BMS and CKN are good yardsticks for each other and I would bot be surprised to see these recovering the £1 or so they lost in the run-up to results given the news out of BMS.

[gsands] 22/3/2006 17:24

EPS has been growing at the following rate:


Year Ending Dec-03 45.30
Year Ending Dec-04 72.80
Year Ending Dec-05 103.20 estimate

The glitch seems to be YE 2006 which suggests profits falling:

Year Ending Dec-06 89.00 estimate


Although the same is true of BMS:

Year Ending Feb-06 31.73 estimate
Year Ending Feb-07 28.98 estimate

But maybe todays confident statement and ahead of expectation results will lead to a revision of the forecast for BMS for 2007.

PER ratios are entirely different - even allowing for an improvement in 06 EPS for BMS - say 35p then that still relates to a PER of over 12 for BMS to a miserly 7.6 for CKN at current share price

Seems like CKN is being rated too cheaply.

[gsands] 22/3/2006 17:14

Interesting comparison. It looks as though BMS and CKN have parted company lately with BMS flirting with previous highs again:

[doubleorquits] 22/3/2006 16:34

Don't know about not deserving the drop as there are a few doubts lurking in the general shipping markets (and I was one who was doubting it) but BMS statement says that a well-run company can still do well. And I happen to think CKN is a better run company than BMS. Risk - Reward looks in our favour if BMS are anything to go by.

[edmundshaw] 22/3/2006 15:51

I'm looking after a break of 8 months; but remain to be convinced the shipping cycle has sufficient legs, or that earnings are sufficiently non-cyclic, to support a higher valuation.

I shall probably wait for a lower price.

Good luck though.

[rochdae] 22/3/2006 15:35

In, too this am. after a break of more than a year.

Quality co. which didn't deserve the recent drop....well that's what I think until we see the results.

[gsands] 22/3/2006 11:34

Yes - I'm long today too. Looks like a super entry point on both fundies and chart.

[cockneyrebel] 22/3/2006 10:34

Back in for some today - BMS results says that CKN is doing better than the market is allowing for imo.

CR

[andyh78] 22/3/2006 10:25

Yep, all being shown as sells, but the price movement indicates otherwise.
If we can rise above 780, would confirm a shot term double bottom reversal.

[martincc] 22/3/2006 10:23

Better volume today, starting to move up before results on 29th?
Also a positive update from BMS this am.