Discover Leisure Share Discussion Threads

[cufes2] 22/4/2011 19:43

The usual level of intelligent response and lies from moreforuseless I see . . . .

[moreforus] 22/4/2011 12:46

Growing Love of Outdoors Gives Rise to Camping Fever
Published on: April 19th, 2011 12:02am by: AndrewAdams
(1) Print This Release | Tell a Friend | Discuss This Press Release
More Britons are booking camping getaways than will jet off to Spain this Easter.

(OPENPRESS) April 19, 2011 -- Research* by cycling and leisure retailer Halfords reveals the surge in popularity of camping over the last two years shows no sign of slowing.

Extra days off this month and in May, generated by a late Easter, the Royal Wedding and multiple bank holidays, have prompted a rush of bookings for camping and caravan sites, with many workers planning short breaks in the UK rather than going abroad.

Normally 2.5 million Brits jet off for Easter*, but this year bookings for foreign travel are dramatically down, with less than one million planning to head for the Costas. This compares with 5.7 million who are due to holiday in the UK, 20 % of them (1.15m) under canvas.

Spending cutbacks and the threat of strikes has put people off travelling overseas, with 25% saying they had decided against the foreign holiday this year.

Only 20% said they would definitely head abroad for the sun, while over one in three, 35%, said they would be holidaying in the UK. 18% said they couldn't afford a holiday while the remaining 27% were waiting for late deals or were yet to make their mind up.

The Camping and Caravanning Club reports a rise in advance bookings of 12% and a 25% rise in caravan and camping bookings for the next four weeks, compared to this time last year. Some campsites are already displaying "full" notices.

Halfords has seen growth in sales of camping equipment in the last few years. Cool boxes, tent packs, cycle carriers, roof boxes and pop up tents have all become increasingly popular in line with the trend to holidaying in the UK.

Halfords Camping Expert Paul Fensome said: "Customers tell us that camping is now a regular part of their holiday plans. They want great equipment at competitive prices – so they can enjoy the break without breaking the bank.

"Camping also adds to the amount of gear to transport so we are advising customers on the best travel solutions, like roof boxes and helping them choose the right one and fitting it for them."

The start of this year's camping fever comes only weeks after the government's new tourism strategy was announced, aiming to encourage growth of domestic breaks from the current 20% of all longer-stay trips (four nights or more) to 29%

Robert Louden, Director General of the Camping and Caravanning Club said: "Holidaying in Britain is more attractive than ever, with camping in particular allowing families to drop their stressful day-to-day routine and spend some quality time together.

"I think a lot of people are looking to make the most of the break by taking off the three days between bank holidays and our site bookings are reflecting this trend."

Figures from the Office of National Statistics shows the number of Britons taking holidays abroad has declined by the equivalent of 26% over the last two years as the "staycation" trend booms.

A total of 5.43 million camping trips were made last year, up 20% on the year before. The predicted hot summer, said by the Met Office to be the sunniest since 1976, is expected to send the figure much higher, possibly to over six million.

Notes to Editors:

*One Poll online survey of 2000 respondents
*Source ABTA
The Camping and Caravanning Club is the largest camping club in the world with more than half-a-million members and 109 sites throughout the UK. Through partnership with the Forestry Commission, the club now also runs a further 20 Forest Holidays Caravan & Camping Touring Sites.

For more information contact:
Nicola Toulson
t:01527513464
e: [e-mail]

The Group is the UK's leading retailer of automotive, leisure and cycling products and through Halfords Autocentres is also the UK's leading independent car servicing and repair operator.

Halfords employs approximately 11,000 staff and sells over 12,000 different product lines with significant ranges in car parts, cycles, in-car technology, child seats, roof boxes, outdoor leisure and camping equipment. Halfords own brands include the in-store Bikehut department, for cycles and cycling accessories, Apollo and Carrera cycles and exclusive UK distribution rights of the premium ranged Boardman cycles and accessories. In outdoor leisure, we sell a premium range of camping equipment, branded URBAN Escape. Halfords offers customers expert advice and a fitting service called "wefit" for car parts, child seats, satellite navigation and in-car entertainment systems, and a "werepair" service for cycles.
###
Professional Free Press Release News Wire

[cufes2] 22/4/2011 08:44

Looks like moreforuseless is a tad desperate . . . the balance sheet is weak with £10m of intangibles included in the net asset figure of £7m . . . potential further impairments make the balance sheet look weaker still . . . they are running out of assets to sell to reduce debt . . . margins have been "compressed" . . . the outlook statement says it all IMHO . . .

Outlook

The predictions for only a modest growth in the UK economy in 2011 are proving to be accurate. Consumer confidence remains fragile and may well weaken again as the deficit cuts and the tax increases begin to bite from April.

The trend in the UK leisure market has shown some improvements relative to last year's low point but the recovery is patchy and the 2011 high season could be threatened by a further fall in confidence. For these reasons, it is difficult to predict the market's path in the six months to August 2011.

The Group is expecting the seasonal uplift in trade in the second half year. It is also possible that the Group's trading environment will benefit from the weakening of competitive dealers after three years of reduced demand. Nevertheless, it is still assumed that it will be another tough period for margins and cash. Steps have already been taken to improve both of these and this work will continue in order to be prepared for the next low season.

In parallel, we continue to assess our strategic options. Whilst there are obstacles still to overcome, opportunities to extend the product range and to add a new distribution channel are emerging and it is hoped that progress will be made in both of these areas during 2011.

The Group's results in the first half were better than last year, but were impacted nonetheless by continued recessionary conditions and pressure on margins. Whilst the stock pressure may be lessening, the second half year is expected to be equally challenging.

[moreforus] 22/4/2011 08:20

BBC - bookings up 12% camping and caravanning club...

[moreforus] 22/4/2011 08:12

Naiad Market is 2 mill now??(can't check on my piephone...)

[moreforus] 22/4/2011 07:56

Watch BBC breakfast now - camping / caravanning booming....

so this is a growing business ...at some point bargain hunters will move in as the share price looks cheap...

[naiad] 21/4/2011 23:06

If caravanning catches on especially for the ageing population, if management can control costs and drive up existing and new revenue streams, if consumers have the spare cash and/or are brave enough to borrow and buy new/used caravans, if...if...if......the share price might recover but it has to prove that it is worth it before that happens. Alternatively if someone wants to consolidate the marketplace and pay £5 million or more to take it over we will all make a little profit.

[moreforus] 21/4/2011 13:03

watch the bbc news

people arent going abroad..they;re going camping/caravaning!

[moreforus] 21/4/2011 11:40

if you think its cheap..then buy

no one is at the moment

[jathomas] 21/4/2011 11:40

manipulated down again on 100,000 sales you gotta laugh

[moreforus] 20/4/2011 15:38

Breakfast tv said the next 2 weeks would be the busiest for camping and caravining and holidaying in the UK...

[jathomas] 20/4/2011 15:36

What's happened I thought we'd be going up rather than down with the recent report wtf? Two small sells and they drop it like a stone. Market manipulation.

[moreforus] 14/4/2011 19:56

Bungalows and caravans are the way forward in ageing Britain (-;

[david77] 14/4/2011 19:47

The directors have run successful businesses in the past so I am optimistic. Banks will make a judgement about whether they will lose more by allowing the company to continue trading or pulling the plug - and that would trigger substantial writing down of stock and site values. I will continue to hold my shares.

[tomrob] 14/4/2011 18:24

morefocus,

Market capital vs NAV indicates it could be cheap if, and only if, the directors' assumption that the intangible assets warrant no further impairment. If you look at notes 11 & 12 on pages 34 & 35 of the 2010 annual report

you'll see what I mean.

In the previous year they had concluded that the value of £20,615,000 should be written down to £9,951,000 due to the closure programme and revised view of future profitability for the remaining sites:
"There were a number of impairment triggers in the previous year following the Group reorganisation, including the closure of a number of CGUs and a significant fall in profitability for the retained branches as the market
contracted". However in 2010 and for the half year results they have concluded that no further impairment charge is needed. If this conclusion is wrong then who's to say that £9,951,000 figure won't be written down significantly.

I'm not sure I can speak with authority about the value carried in the balance sheet for inventory but presumably if the market is weak then there is a risk that the value of inventory will fall.

On balance I wouldn't recommend buying this based on balance sheet value.

As Naiad indicates the value of the company is heavily reliant on the banks keeping faith in the managements' plans as without continuing facilities
("The overdraft is technically repayable on demand and the inventory facilities have a notice period of 90 days") it'll be game over anyway.

On the plus side I half-heard a brief spot on the radio yesterday talking about strong bookings at campsites and caravan parks in the coming summer (which reminded me of this company and prompted my visit to this thread).

[naiad] 14/4/2011 11:34

No cash reserve and reliant on bankers if trading fails to meet forecast, and intangible assets of £10 mill suggest not cheap. All depends on the quality of the management team to see it through - their comments about new distribution channels might be interesting but we'll just have to wait and see. If it survives this year it might see a decent re-rate in 2012. Totally speculative but a classic recovery bet. Not one for the pension fund.

[moreforus] 14/4/2011 10:45

market cap is 2.3 mill and NAV is 6.7 mill

ie 1.4p vs 4.1p

i;d say its cheap here

[this_is_me] 14/4/2011 10:43

It doesn't look like it will go bust and should be a 10 bagger in the long term if it can survive another year.

[induna123] 14/4/2011 09:25

I feel this is staying under 2p for another year.

"The Group's results in the first half were better than last year but were impacted nonetheless by continued recessionary conditions and pressure on margins. Whilst the stock pressure may be lessening, the second half year is expected to be equally challenging."

[cammy3] 15/3/2011 19:47

This wont be sub 2p much longer - big turnaround complete

[jathomas] 15/3/2011 16:21

Nice solid stock unaffected by the bl;oodbath across all indices. Onwards & upwards throughout the year hopefully going on the recent results, that's unless the world doesn't end in the meantime.

[knowing] 11/3/2011 16:06

Hopefully set up for a nice move next week.

[knowing] 11/3/2011 14:55

Buyers paying 1.59 now

[knowing] 11/3/2011 12:29

Revenue GBP52.25 million (2009: GBP84.44 million) following closure and
disposal of surplus sites
· Gross profit increased by 19% to GBP7.50 million (2009: GBP6.30 million)
despite lower revenue
· Overall gross margin in year to August 2010 rose to 14.4% (2009: 7.5%)
· Loss from operations before exceptional items have reduced by 93% to
GBP0.61 million (2009: GBP8.07 million)
· Loss after tax reduced by 91% to GBP1.55 million (2009: GBP17.37 million)
· Loss per share reduced to 1.0p (2009: loss 11.2p)
· Administrative expenses fell by 43% and total like-for-like Group costs
including interest reduced by 23%
· Net debt at 31 August 2010 fell by 20% (2009: 37%)
· Cash flow generated from operating and investing activities of GBP3.82
million (2009: GBP2.07 million) used for finance repayments of GBP4.57 million
(2009: GBP2.71 million)

Above from the last results. Pretty good turnaround.