Countryside Partnerships Share Discussion Threads

[tony14] 11/10/2002 08:22

Looks that way GSG, have had these on my monitor for quite a while. Trading way below Net Assets, although debts were circa £50m, a large chunk to be repaid with the proceeds of the sale of Esporta stake, hence a much reduced interest charge to come in the second half:

Since the end of the period, the company's 9.9% stake in Esporta Limited plc has
been sold and the proceeds of #14.5m used to retire debt, which will
significantly reduce our interest charge in the second half of the year. As the
sale price was comfortably in excess of book value a capital profit of #2.9m
will be brought to account for the full year.

[gsg] 11/10/2002 08:03

In that case there must be some seriously grim news in the background for these to have fallen again. Three mm sells already this morning.

[addict] 04/10/2002 14:51

electrodes time.

[dubbsie] 04/10/2002 13:59

Net Assets of £58m, only £14m intangibles, £44m of real assets, market cap less than £9m. Sold investment at profit to book value and reduced debt by £10m. Just too many bargains!

[gsg] 23/8/2002 09:58

With the X trades going thru on a regular basis a largish stake must be changing hands.

[snape] 12/8/2002 13:14

BB
Thanks for the beeson address the site looks interesting.
As for comments on CSP they say nothing particularly negative. Main issue they say is to sort their equity investments. Which they have.
Share price move, share sales and FD resigning however seem to point towards a prof warning. Heres hoping its not too severe.

[blockbuy] 12/8/2002 12:50

the beeson report may not be helping (pub May 2002)

[gsg] 12/8/2002 08:13

There's just something about the way these keep on falling which does not feel right. Will keep a watching brief for the mo.

[tony14] 09/8/2002 23:51

Confirmation of what was already mooted in the press earlier this week:



RNS Number:7859Z
Crown Sports PLC
09 August 2002


For Immediate Release 9 August 2002


Crown Sports Plc


Board Changes


The Board of Crown Sports Plc announces that Steven Glew, Group Finance
Director, will be leaving the business. His resignation as Director will be
effective on 9 August 2002. Mr Glew's Group Finance responsibilities will be
taken on by Diane Jarvis, currently Finance Director of Crown Sports Clubs
Division.


Contact:


Martin Knight
Crown Sports 020 7491 4652


Bobbie Swanson
Buchanan Communications 020 7466 5000






This information is provided by RNS
The company news service from the London Stock Exchange

END

[gsg] 09/8/2002 23:41

Yes, finance director, on his bike. Hope his sums are OK.

[tony14] 08/8/2002 23:28

Looks very interesting at these levels. Net assets of 21p from last set of accounts. EPS pre exceptionals 1.5p. At least £10m of recent disposal(£14.5m)to be used to reduce bank loans. The disposal of the Esporta stake realised almost £3m more than the written down value of £11.6m, further strengthening the Balance Sheet post the last set of published accounts. DYOR

Good luck to all

[dubbsie] 08/8/2002 09:04

I held this before at 29p sold at a small loss now looks so tempting. Why shouldn't I be tempted? Profit before exceptionals £6.2 puts it on a PE of just over 4, assets 3 x market cap, it has just realised £14.5m on an investment it had written down to £11.6m reducing borrowings by at least £10m. Why not?

[gsg] 08/8/2002 08:53

Snape : Good Luck. I'm tempted, but I'll sit and wait for any kind of indicator.

[snape] 08/8/2002 08:34

Against my better judgement I have decided to take a small stake this morning.
The Times has a small bit about the FD leaving maybe to get involved in a buyout, similar to Holmes Place. A few buys now coming in so decided it was worth a punt. Not that my punts have a good record at the moment.

[gsg] 07/8/2002 16:23

Supposed net assetts of 21p per share which is made up of freeholds and leases. last results looked OK including a lot of 'clearing the decks'. I've been in a couple of their clubs and they appear to be buzzing. I also can't understand why they continue to fall. Will sit and wait until a clearer picture emerges.

[snape] 07/8/2002 14:59

keeps going down with odd sells every few days and no buys
the last trading statement was good and they have now offloaded their esporta investment.
the sites that I have seen have been trading well and so debt servicing shouldn't be a problem
maybe a write off on the winning line investment but otherwise looks interesting to me
HOWEVER
keeps going down and no director buys so am holding off.
Am I missing something?

[girvin] 12/7/2002 14:24

Sold esporta stake at 87.5p will it reduce debt or buy more health clubs?
Or is it near administration.

[girvin] 09/7/2002 08:09

Don,t understand why this share continues to decline when their 10% stake
in Esporta which had been writen down to 70p per share at last results is now
worth 84p with good upside potencial to at least 90p, as duke street will have to increase their bid.

[shareman2] 24/5/2002 09:38

called south winchester. The person I spoke to couldn't comment on the numbers with respect to membership (no exposure), but could comment that the greens were resurfaced in April and that there is a work program for the bunkers.

[shareman2] 24/5/2002 07:45

heard from a friend of a friend that over 70 club memebers of South Winchester golf course have defected to Royal Winchester.

Alegedly, Also other members (inc debenture holders) have left to join other clubs.

Apparantly citing state of greens, bunkers, atmosphere.

at £800/yr/mbr, thats a couple of quid.

remember it's only what I heard. DYOR.

[egoi] 21/1/2002 15:33

Good point reetus, might explain recent move on low volumes. I seem to remember them saying last year they were looking either to buy more or ditch altogether their stakes in other cos in a strategy review, but not sure what came of it. Will have a dig!
Infact, editing - was thinking of its Esporta stake, sorry! However the sale of that would free up funds. Wonder if they're looking at Clubhaus. Pure speculation, but with acquisitive track record, not impossible.
My only concern is the currently high market cap and p/e. Probably still no rush to get involved, but I'm monitoring closely......

[reetus] 21/1/2002 14:44

Major Shareholders in Clubhaus:

Major Shareholders:
103.12m 50p Ords - P Davidson 16.00%, Edinburgh Fund Mgrs PLC 10.73%, PDFM Ltd 7.91%, AXA Equity & Law Life Assur 5.96%, Electra Quoted Mngt Ltd 5.92%, Crown Sports PLC 3.86%, Singer & Friedlander Inv Mgmt 3.36%, A Baron Von Spoercken 1.74%, Other Dirs 0.51%.

Shouldn't CSP be going up along with Clubhaus's share price?

[pkvidean] 16/1/2002 05:28

Yes, this is on my buy monitor.

Up 0.75p on no volume today looks interesting.

Very useful insight, egoi.

Scarletsman, I liked the look of Golf Club before it was acquired!!!

Think CSP achieved a non-bubbled 45.5p in Q2 1999!!!

Leisure sector seems to be becoming warm!!!



Patrick Videan

[egoi] 14/1/2002 13:27

CSP are at the forefront of consolidation in the sector, which isn't surprising because the management are virtually the same team that took Sportsworld Media from a £20 million company into the FTSE 250 in about three years (no longer in it since they left to work here). The excitement is in whether they can pull the same rabbits in a tough sector. I fancy they can, by acquisition, which is how they did it at SWD.