Leeds Share Discussion Threads

[gumberr] 20/12/2005 19:16

I agree and wouldn't be surprised if they return loads of money to shareholders .

[sigora] 20/12/2005 18:59

With 15p of the share price in cash, Hemmers-Itex on projected earnings is trading on a PE OF 3, SURELY THAT CANT BE RIGHT. with all that cash a profitable trading arm can this be a possible takeover target, if only, maybe a cash shell? anythoughs.

[stewjames] 20/12/2005 15:42

Good. I do still have it when it comes to picking shares. I was beginning to wonder... :-)

Now just got to get some money to start a new portfolio. LOL!

[cockneyrebel] 20/12/2005 15:04

DJ MARKET TALK: Leeds Group Ticks Higher Following FY Data

1501 GMT [Dow Jones] Leeds Group (LDSG.LN) +24% at 21.75p following a "strong set" of FY results, notes Seymour Pierce. "With the disposal of Leeds Leasing, Leeds Group is now effectively a successful textile distributor with its main warehouse based in Nordhorn, Germany." Hemmers-Itex is trading well and the order book is "extremely" strong, the brokerage adds. Has hold rating. (SMT)

CR

[spights] 20/12/2005 13:55

1 ----10,000---------21v22.5----30,000-------3 For Gumberr

[hugepants] 20/12/2005 13:29

Nice to see one of my shares doing well!

"After a strong second half to the year, Hemmers-Itex, the
successful German-based fabric trading business, produced a full year profit
before tax of £573,000 (2004: £882,000). The reduction in profitability relates
chiefly to the costs of changing agents and successfully relocating our
multi-site activities in Nordhorn to a single facility."

I agree Hemmers looks like it will do about 1M pre-tax for 2006. Can we assume head office costs will be cancelled out by interest on the now signficant pile of cash?

Im a bit annoyed they didnt give a pro-forma balance sheet so we can get a better idea what the new asset position is. Most of the debtors and creditors should be gone now.


Heres my guess to what the reamining business looks like.

Cash = 5.5M (15.2p per share)
Net Current Assets = 10.5M (29p per share)
NAV = 11.5M (31.7p per share)

Doing say 0.65M (1.8 eps) after tax per annum.

I dont think worth selling at less than 25p

[cockneyrebel] 20/12/2005 12:50

I agree with you two guys, 1m pbt achievable easily from Hemmers this year based on today's figures.

Deduct 30% tax to get 700K after tax. PE 11, perhaps less and assets much higher than mkt cap.

30p looks a certainty rather than a liklihood imo, especially if they do something very earnings enhancing with the cash they have.

CR

[arthur_lame_stocks] 20/12/2005 11:35

I notice we're currently today's top riser. That ought to attract a bit of attention.

[langland] 20/12/2005 11:15

Just following on from my last comment....if only we could get a trade buyer to take Hemmers out on 8-10 x, we could almost be talking of a 1 bagger from here.

[arthur_lame_stocks] 20/12/2005 11:15

I've just seen the results. Bloody good news out of Leeds for a change. 5.5m in cash and Hemmers is doing well. I'm starting to feel justified in my faith in Leeds, these have to be worth 30p a share. Still at a big discount to net tangible assets and net current assets.

Let's hope the press pick up on these, they deserve to be tipped at any price in the 20's IMO.

[langland] 20/12/2005 11:11

Quick look at the figures suggests that Hemmers can make 1mn pretax this year based on extrapolating last year's 2nd half and losing the 200k of exceptional costs incurred this year. Outlook statement says business is well ahead so far this year. Even if we give Hemmers a low rating of 5x, whole group would have a value of 10.5mn or almost 30 p per share. A rating of 7x would add another 5p to this.

[cockneyrebel] 20/12/2005 11:11

cracking results - was worth holding :-)

looks like 0.9p eps from Hemmers for the year. H2 was strong and H1 this year has continued.

Looks like the forward PE after you strip out the 15p a share cash is 3 perhaps?

Ruddy cheap - shame you can't get more of the beggars!

Got myself a wadge more tho at 20p and 20.5p :-)


CR

[roomey] 20/12/2005 11:00

looks like market finally woke up to value in ldsg gutted results came out before new year as was awaiting funds to buy more

[langland] 20/12/2005 10:59

What a nice positive statement!

[arthur_lame_stocks] 15/12/2005 14:09

I wonder how soon langland. Not February again I hope.

[langland] 13/12/2005 16:10

I telephoned today to be told results would be soon. The lady was unable to check with CEO. I would hope that we also get a proforma balance sheet showing the effect of the leasing disposal.

[arthur_lame_stocks] 13/12/2005 15:55

50k buy today, perhaps we'll see another tick up in price soon. These are still way too cheap.

The results should be out soon too, although the Leasing disposal was after the year end.

[cockneyrebel] 08/12/2005 10:39

If you look at the AIM index it has actually had it's two best days in ages - outperforming the market today and yesterday by being up while large caps were down.

That's where the value is as AIM has been ignored for months - it's still 7% off its recent high and over 10% off it's all time high while all other indicies are making new highs - has to correct eventually as the bulk of the value/growth is on AIM.

CR

[hugepants] 08/12/2005 10:36

There is a general malaise afflicting AIM stocks just now. The AIM index is down 15% since February. But The FTSE100, FTSE250 and FTSE smallcap are all well up. Hopefully investors will start switching soon!

[arthur_lame_stocks] 08/12/2005 10:27

These are so obviously cheap that it's frustrating seeing the price so low. Hemmers is only valued at about 1m once the cash has been stripped out.

I notice Gyllenhammer has been selling up quite a few of his UK holdings, perhaps he's pushing for an exit here too.

[langland] 08/12/2005 10:23

Results must be due soon.

[hugepants] 08/12/2005 10:06

No stock around now. Comdirect will only let you buy a paltry 7.5K but you can sell 37.5K.

[arthur_lame_stocks] 09/11/2005 16:41

A bit of volume today, 138k at the mid.

[langland] 03/11/2005 17:41

I think we need to see the full year results and probably a pro forma balance sheet showing the effect of the Leasing disposal. Also, we should be given some direction on the remaining business.

[hugepants] 03/11/2005 17:32

Well it hasn't exactly put a rocket under the share price! I did buy a few more on Monday and will probably buy more on weakness.