Leeds Share Discussion Threads

[arthur_lame_stocks] 15/8/2007 18:15

The best thing they could do IMO is keep buying in shares and be prepared to bid the price up to nearer the NAV. That would give us all a chance to sell for a fairer value.

They must be looking to make a return from their investment at some point. It's not as though they're taking much out as income.

[arthur_lame_stocks] 15/8/2007 18:14

The best thing they could do IMO is keep buying in shares and be prepared to bid the price up to nearer the NAV. That would give us all a chance to sell for a fairer value.

They must be looking to make a return from their investment at some point. It's not as though they're taking much out as income.

[deswalker] 15/8/2007 17:47

A fancy new website with all the AIM 26 stuff on it. Take a look at the "Securities" link for a breakdown of the float. Makes you realise just how strong a position the two Swedes are in. Should we be worried ?? Also the 2007 Interim report is now available.

[cg1953] 15/8/2007 09:14

over a month and no posts !!!
at this time am re-assured by the cash on the balance sheet.
lets hope they dont go and do something stupid like buy a textile bizness.
better a cash distribution to us long suffering investors !!!

[jonak] 13/7/2007 00:20

yep very good news; sounds like the company got a bargain; can't be bad for remaining holders

[poacher45] 06/7/2007 14:01

The Emslie's obviously decided they have waited long enough and cashed in. I bet they told the management they were unhappy with the lack of direction. I wish they would post a comment on this board.

[deswalker] 06/7/2007 13:20

Excellent news

[chessfou] 06/7/2007 13:13

There's the RNS - it was a buyback (exceeding the 10% permitted to be held in Treasury, so a chunk cancelled).

[arthur_lame_stocks] 25/6/2007 18:56

I haven't looked at sixh in yonks, but kind of keep an eye on them. I'll have a better look. Have a look at Filtronic FTC.

I though about sending an email to Leeds recently asking them why they don't buy in some more stock, but they're not going to do it so there's no point. I think though they've seen the last of 21p a share. At least I hope so.

You have to wonder what the Swedes plan to do. I don't suppose they intend to hang on to this for ever.

[deswalker] 25/6/2007 13:17

I agree poacher. Very good performance & outlook announced last week. Rising long term bond yields should benefit their pension schemes too (if the stock markets don't crash at the same time :)

Boring boring LDSG ...

[poacher45] 25/6/2007 11:22

I think SIXH with all those assets and improving sales especially in USA with the laser marking looks good. I have recently put some in my PEP & ISAS

[deswalker] 25/6/2007 10:52

Arthur,

What think you about SIXH ?

Des

[arthur_lame_stocks] 26/5/2007 17:49

I wouldn't worry about pointing it out to me, I won't get upset.

[deswalker] 26/5/2007 17:39

Arthur,

Just back from hols hence no reply. Re the figures, I didn't like to say anything but .... :-)

Now to see what's happened with FWY. Clearly something ...

Des

[arthur_lame_stocks] 22/5/2007 23:58

Des

I've only just noticed that my figures are wrong, ever the optimist i've added back the interest when I shouldn't have done. You look to be on the ball as per usual.

It only took me 11 days to notice too.

[arthur_lame_stocks] 16/5/2007 13:52

So the company hasn't bought back any more shares.

I was hoping they would start buying back at a slightly higher level.

After all the price can't stay at 21.5p for ever if the company is consistently profitable, the discount to NAV will just keep increasing. I think the problem with Leeds is that the Swedes seem determined to wait the rest of us out whereas it's going to take a sale of Hemmers or even for them to buy a complementary business to see the value outed.

[poacher45] 11/5/2007 09:28

I think you will find that the builders will pay the costs of the land expense. They did pay for the fencing.

[deswalker] 11/5/2007 07:51

Arthur,

Here are my numbers ..

Hemmers GP = 2046
Hemmers Dist Costs = (546)
Hemmers Admin = (1107)
Hemmers OP = 393
Hemmers Interest = (89)
Hemmers PBT = 304

Central Costs = (116)
Central Interest = 162
Central PBT = 46

Total PBT = 350

Dist Costs are higher as flagged in the Trading Statement (move out of Cologne) but Gross Margin has strengthened from last H2.

I was happy with the results. The land could be a real kicker as long as they don't spend much money contesting it. A long shot worthy of only a small expense IMO.

Hope the 100k at 21.5 was another buyback. Suspect it might be the last at that level.

Des

[marben100] 10/5/2007 22:12

Buybacks have no impact on profits. They affect the balance sheet and cashflow statement.

[jonak] 10/5/2007 19:17

does cost of share buy backs come out of pre-tax profits ?

[arthur_lame_stocks] 10/5/2007 18:14

Hemmers actually did pretty well.

Pre tax profit of 393k. If goodwill of 45k and interest of 89k are added back in then I make that an underlying profit of 527k.

Net current assets 29.2p a share. Net tangible assets a tad higher. Net cash 11.4p a share.

Still cheap.

[deswalker] 10/5/2007 07:59

Remember to do all calcs per share.

NTAV has increased by 1.5% since September (3% per annum) but NTAV per share has increased by 3% (6% per annum).

They sound upbeat about Hemmers prospects as others go to the wall and the cash balance will benefit from higher interest rates (starting today).

See you all next Jan for the Finals :)

Des

[arthur_lame_stocks] 10/5/2007 07:53

A bit avergae on first reading, but net cash is well up and they're going to challenge the decision on the land.