Csf Group Share Discussion Threads

[affc21] 29/3/2012 18:46

Glasshalfull - interesting. By the way did SCSW mention what the savings were in brokers commission fees?

[glasshalfull] 29/3/2012 18:01

duganjoe - Would also appreciate clarification of your last post.

I was aware per January 2012 edition of SCSW that the tenancy for block A of CX5 was directly let by CSFG to a different client than originally anticipated...so tenancy agreement kicks off 3 months later than planned hence 2012/13 earnings currently forecast to come in flat BUT generating a saving on the broker commission that would have been paid had original tenant taken up residence.

Regards,
GHF

[affc21] 29/3/2012 17:22

dugganjoe - not sure this Walters company has been an issue for CSFG, seeing as CX1, CX2 and CX3 DATA centres are operating on a full occupancy basis throughout the Six Months Ended 30 September 2011 financial period.

Can not see an issue with this myself, but would appreciate any comments...

[affc21] 28/3/2012 20:45

Sorry dugganjoe - not aware of what you mentioned in your post.

Can you post a web link to this tenancy cancellation...

Thanks.

[dugganjoe] 28/3/2012 20:16

why did that Walters company walk away from their tenancy contract?

[affc21] 28/3/2012 20:06

Sunday Telegraph

Money section page 8

Small companies can be beautiful


"- many UK listed small caps generate big profits outside the UK," said Mick Gilligan of Killik & Co.
"Also it is much easier for a smaller company to exploit a new niche - online dating as in the case of Cupid, for example, or data centres in Asia as in the case of CSF. So although I think the bulk of small caps still struggle in a stagnant economy there are now more outliers that buck this trend."


Looks like Mick Gilligan (of Killik & Co) is a bit of fan of CSFG, although thats just about it regarding his mention of CSFG...

[affc21] 27/3/2012 20:40

John, when the upfront associated costs of the (CX5) office building and Blocks B and C have been completed (which are impacting their profits), csfg should see a lift in profits solely from this build completion.

Obviously their will be running costs to incur upon completion of CX5.

Icing on the cake (watching Hairy Bikers on tv right now:) will be any tenancy agreements for blocks B and C.


So yes a 2014 EPS forecast would be interesting.

[john09] 27/3/2012 20:06

Agree. A 2014 eps forecast would be useful. Assume one might come out as you say once we get through eoy results

John

[affc21] 27/3/2012 20:03

Hi John,

CSFG will have completed their 2012 financial year by the end of this week (31 March) for which their EPS forecast is 6.4p (and a 2p dividend which will probably be paid out in April).

2013 financial year forecast is again EPS of 6.4p with a 2p dividend.


I know what you are saying, but look at it this way its its only 12 months (to March 2013) when CX5 will be completed and CSFG should be making significant profits going fowards.

[john09] 27/3/2012 19:33

Except 2012 and 2013 eps are flat / the same / no growth

[affc21] 27/3/2012 19:19

Hi Glasshalfull,

Having read yours and others postings (which were very informative, Thanks), its probably worth highlighting that CSFG have almost completed their 2012 financial year (which ends on the 31 March, so a just few more days to go and CSFG enter their 2013 financial year), hence with the stock-market being a forward looking beast, the significant earnings/profit potential from March 2013 will (I expect!!!) start to look much more enticing to investors (be they private or institutional).


As you have previously highlighted, below is an extract from their recent New Tenancy Agreement and Trading Update (repeated below, just so that any interested persons reading this post will know what I am trying to explain):


"Due to the upfront associated costs of the office building and Blocks B and C, the contribution from CX5 is expected to be minimal for the financial periods up to March 2013. The Board continues to expect the overall profit contribution of CX5 to be significant once new tenants are secured for Blocks B and C."

[glasshalfull] 26/3/2012 23:11

affc21 - good to see you interested in these.

I agree with your points and rather than repeating my views would invite you to trawl back through the thread and you will see that I also see these as an excellent longer term play with only fly in ointment the fact that the significant operational gearing is probably 6-12 months behind schedule, with flat EPS forecast for 2012/13 as they conclude tenancy agreements for CX5.

I felt the 30% fall in shareprice considerably overdone. It left them on a PER of 6 or 7 when many of their peers are on ratings triple this. They are also forecast to deliver a dividend yield approaching 5% at this price and had net cash of £11.7 million at the half year stage....many positive attributes not factored into the current share price IMHO.

I really wouldn't be surprised if one of the big boys approached them for a foothold into the SE Asian growth market given the lowly rating they are currently assigned.

Regards,
GHF

[battlebus2] 26/3/2012 19:29

Neither do i and never will it's not ethical in my view so what's with the interest then? Do you hold or have you sold?

[john09] 26/3/2012 18:38

I do not short stocks! Yawn

[battlebus2] 26/3/2012 18:25

John09 i take it you have closed your short position then.

[affc21] 26/3/2012 18:05

GHF - I have bought a few today after doing some research over the weekend (still need to do more research though, probably next weekend, when I should have more time on my hands).

Apart from the obvious: high growth within this sector due to cloud computing, off-site secure data storage from corporations, etc...
What caught my attention was the ramp up in DATA centre space from 205,000 square feet (available at present), to 545,000 square feet (which will be available in total from early 2013), which is a 165% increase in DATA centre space.

Of course they still need tenants to sign up for this extra DATA centre capacity:

CXJ data centre (will add an additional 140,000 square feet from early 2012): Management are encouraged by the pipeline of potential customers for CXJ and continue remain upbeat on the growth potential of the data centre market in Indonesia.

CX5 DATA center (will add an additional 200,000 square feet from early 2013):
for which they have signed a tenancy agreement for Block A of its CX5 data centre (with Masterplan MyCenter Sdn Bhd), which leaves Blocks B and C awaiting potential tenants to be secured.


And will finish with this snippet from Shares Mag.
That will be neat timing since CX5 should come on stream just as existing data centres near full utilisation.


Expecting a ramp up in share price here, which should go hand in hand with any tenancy agreements for this extra DATA centre space...

[john09] 26/3/2012 17:59

I'm sure it will. One day...

[battlebus2] 26/3/2012 17:30

This will return to 60p mark my words!!

[itchycrack] 26/3/2012 16:25

I've been in for a few more today.

[glasshalfull] 26/3/2012 16:10

Good to see this coming back to life. Quite a few trades and wondered what has stirred punters into action?

Regards
GHF

[john09] 19/3/2012 23:28

My OPG investment is going just fine cheers. And glass, if you don't want a fight don't look for one.

[darlocst] 19/3/2012 19:59

Ah john09 - the master investor. Remind us how your OPG investment is going please. You were in at 80p+ weren't you?

CSFG starting to look interesting at these levels again.

[glasshalfull] 19/3/2012 19:27

John09 - You know nothing about me and yet make derogatory comments? You don't know the scale or depth of my portfolio. Perhaps your disparaging remarks are way off course? I certainly don't feel the need to brag.

Your contribution to the boards also indicates that you have a great deal to learn. I've certainly failed to observe any detailed analysis and again this suggests to me the scale of your investment prowess is perhaps a little exaggerated, but this is an assumption on my part. I'm pleased that your investments have performed this year though I very much doubt your claim that you are £70k up.

Pride is considered the original and most serious of the seven deadly sins, and the source of the others. It is identified as a desire to be more important or attractive than others, failing to acknowledge the good work of others, and excessive love of self.

or

"Pride comes before a fall"

You certainly could do with some humility. I realise this is probably asking a lot, but I hope I'm wrong in this particular assumption.

Best wishes anyway, hope your investments continue to perform john09.


Regards
GHF

[john09] 19/3/2012 18:51

So does yours sour grapes. You're the one in Eros, eto and csfg and have missed the best bull run I've amen in years in last few months. Maybe if you listened to others views matey.... I'm £70k up since Xmas. Very happy . Il buy csfg when they've finished dropping

[davydoo] 19/3/2012 18:50

duggan, this from the AIM rules;

The number of AIM securities in issue (noting any held as treasury shares) and, insofar as it is aware, the percentage of AIM securities that is not in public hands together with the identity and percentage holdings of its significant shareholders. This information should be updated at least every 6 months.

There is also this rule for non UK incorporated companies;

Where the AIM company is not incorporated in the UK, a statement that the rights of shareholders may be different from the rights of shareholders in a UK incorporated company

But thats a different thing.

The trouble is the bit that says 'insofar as it is aware'

The onus is on the shareholder to declare, and does every shareholder do this when they should though? sadly no