Goals Soccer Centres Share Discussion Threads

[qs99] 03/5/2018 10:18

Managed to buy a few early doors, but continuing onwards....let's see GLA

[qs99] 03/5/2018 10:16

zero stock around DYOR, couldn't buy a bean

[matt123d] 03/5/2018 10:12

Something's going on here, been buying the past few days, not much stock about now

[qs99] 03/5/2018 10:12

looks v. interesting IMO as little volume and big old spike

[value hound] 03/5/2018 09:23

I'm hoping it's another bid brewing (obviously) but it may just be someone building a stake. This has to be worth more like £84m / 111p IMO - but hopefully more than that if Sports Direct or A.N Other are going to take it out.

[gerdmuller] 03/5/2018 09:14

Not got it but saw price movement with no news. So no idea why this is up nearly 15 percent.

[qs99] 03/5/2018 09:12

no-one else on this?

[qs99] 03/5/2018 09:01

Looking perky, what's going on?

[pugugly] 22/3/2018 17:15

Woozle1 - Nice one - Going to create havoc with all invesment metrics
A quick and dirty look at the problem


Lots of fees for the accountants !!!

[eastbourne1982] 22/3/2018 10:27

Bit of interest here now.

Wouldn't surprise me to see a bid coming in from across the pond.

[woozle1] 20/3/2018 12:41

Check Note 11 to the accounts. It has £102m of leaseholds and NO freeholds. Leaseholds will be classified as debt under new IFRS rules:

The IASB published IFRS 16 Leases in January 2016 with an effective date of 1 January 2019. The new standard requires lessees to recognise nearly all leases on the balance sheet which will reflect their right to use an asset for a period of time and the associated liability for payments.

At the moment liability payments are off balance sheet and will now be debt. In theory, it could cause a massive breach of the debt covenants but who knows what the company will agree with the bank. This is going to be a big deal for leashold retailers whose s/ps are already being hammered. Check out Carpetright and Debenhams.

Ashley also has a large stake in Debs.

[jimmywilson612] 15/3/2018 17:43

Hi Arthur,

Thanks for your reply. What would you consider normal levels? I've been through the annual reports, and the capital expenditure for the last few years are:

2017 - £11.6m
2016 - £10.2m
2015 - £7.6m
2014 - £6.4m
2013 - £4.3m
2012 - £6.3m
2011 - £10.7m

I get that having property is great for the balance sheet, but if the business can't utilise this then it seems a hindrance.

[sapien] 14/3/2018 00:21

Does anyone have info as to where I could obtain details of the land owned by the company at different sites i.e is it freehold or leasehold and if leasehold the terms. I cannot see this in the company statements

[arthur_lame_stocks] 13/3/2018 18:38

Jimmy I think that GOAL's problems of late stem from the fact that they underinvested in their sites and they became stale. They are now investing in upgrading them and hopefully once that process is over capital expenditure will return to more normal levels.

Personally I was quite pleasantly surprised at today's results, they were better than I expected and I would have liked to have seen a better response from the share price.

I don't think it would be easy to realise value from the property assets because as I understand it they are all on medium term leases and not freehold.

[jimmywilson612] 13/3/2018 17:48

I have hat - good spot.

To be honest it's new to me GOALS, but I play a couple times a week at various sites.

Looking at the annual report - they invested £11.6M in capital expenditure. Whilst property assets are good, they are spending double their profits each year in maintenance and 'upgrading'.

Is there anyway the business can release shareholder value from the property?

[hatfullofsky] 13/3/2018 17:18

Jimmy - Guess you chose to ignore the Property Assets of 117M.

As investors we look forward. They seem to be doing the right thing, the market will catch up.

[hatfullofsky] 13/3/2018 10:27

Weather had a big impact - "In common with many businesses Goals was impacted by the challenging weather conditions in weeks 9 and 10 and consequently like-for like sales for the first 10 weeks of our year to 10 March were -3.0%"

valuehound - I'm with you, bought in (small) on the back of the results. Hoping I have my timing right.

uPBT 6,2M
Op Cash 6M
Property Assets 117M v 30M debt
2018 investment only from Cash flow.
50:50 JV with City Football Club (who invested $16M) – US Expansion

[value hound] 13/3/2018 10:07

I thought these results were excellent given the lowly valuation placed on GOAL? THey should be more like 90p-£1 IMO.

[pugugly] 04/3/2018 18:28

The "Beast from the East" will have probably closed most sites for say 2 weeks or more but overheads and most staff costs still have to be paid so potentially a major hit to next half's revenue (imo)

[arthur_lame_stocks] 04/3/2018 15:30

Results in just over a weeks time, not expecting any surprises. Hopefully all that capital expenditure will start to pay off soon.

I wonder what Mike Ashley's interest is.

[tkamp] 22/1/2018 09:58

Pretty awful update, had definitely not expected LFL sales to go back into negative territory. Their UK business is a pile of garbage. I would support them divesting poorly performing centers and channeling that money to better performing centers as well as the US operations (which I think is LT the most promising area for Goals).

[jaykaytee] 13/9/2017 16:05

High MC valuation for low profits.
there are better investments out there....

[pugugly] 12/9/2017 11:52

5 hours since post 478 = Share price down 10% - No other comments - Message received MINIMAL INTEREST in soccer at family play level - Could this offering be going the same way a 10 pin bowling, squash etc etc - A short term interest spike and then a fall away - If so could it be that GOAL has a broken business model ?? In other words Soccer is basiscally reverting to a spectator sport rather than participation??