Manganese Bronze Share Discussion Threads

[crystalclear] 05/5/2009 12:34

1884 = new technology?
Some of the first cars were electric!

[u813061] 05/5/2009 12:15

Plenty of mergers and acquisition type activity in the automobile sector. Makes MNGS look cheap, especially with all the overseas potential and possible utilisation of new technologies such as electric power.

[davidosh] 30/4/2009 14:40

They are a hedge fund and certainly will not be making an offer. Tosca passed their holding to MS about nine months ago and now seem to have acquired it back again IMHO. Not sure why or what is gained or lost but it needed to be off their books for some reason last year !!

[crystalclear] 30/4/2009 11:52

They are above a quid davidosh.

When they rose to about a fiver, I was on the journey up, but bailed at about £3. I'm hoping to ride them up again for a while.

Manganese Bronze Holdings PLC advises that it received notification on Friday 24
April from Toscafund Asset Management LLP that it has a notifiable interest in
6,923,894 of the Company's ordinary shares, representing 27.56% of the issued
share capital.

Is it at 30% that a shareholder has to make an offer?

[davidosh] 15/4/2009 15:53

Thanks Rapier

Not likely to short again just yet but it has been rising ansd above a quid I may get tempted.

[rapier686] 15/4/2009 15:22

Anyhow you've got me to update my spreadsheet so:

LTI Merc
Jan-08 103
Feb-08 114
Mar-08 435
Apr-08 169
May-08 163
Jun-08 146
Jul-08 106
Aug-08 54 14
Sep-08 297 27
Oct-08 68 36
Nov-08 112 20
Dec-08 204 11
Jan-09 97 18
Feb-09 94 31
Mar-09 241 34

The last 3 quarters have all been running at about 2/3rds of a year ago.

[rapier686] 15/4/2009 15:16

Not sure why you're still particularly interested at the current price, but

Start at

Select "Data Services" / "Vehicle Registrations"
Which gets you to

Click on "Registration - Vans and Trucks"
Click on "Download Report" & save the zip file somewhere.

Open said zip file, which contains an Excel and Word document.
Open said Excel document and peruse the contents to find that Mar 09 275 taxis were registered, 241 to LTI & 34 to Merc.

[davidosh] 15/4/2009 15:05

Do you have a direct link ?.... sadly I have tried before but could not access them

[queeny2] 15/4/2009 14:14

you can find them on the smmt website

[davidosh] 09/4/2009 15:49

Has everyone left here now ? Does anyone have the March and April SMMT figures for taxi sold...thanks ?

[the analyst] 06/3/2009 16:15

Cheers David, will take a look

[davidosh] 06/3/2009 15:48

I can recommend researching MUBL..Music Box. They benefitted from demise of Woolies have lots of cash and will even pay a maiden divi this year.

[davidosh] 06/3/2009 15:05

the analyst....Many thanks for that one. I think the downside risk is still huge but I have only a small amount of my position left now. If this note were to somehow increase interest in MNGS I may be tempted to short the spike.

Did you manage to get some LOQ after the meeting ?

[the analyst] 06/3/2009 14:45

Note from St Helens out today:


"Manganese Bronze (MNGS.L)

Mkt. Cap.: £14.3m

Recommendation: BUY

Price/Target: 57p/84p
Event: Prelims and forecast reduction

Manganese Bronze's full year results highlight the current difficult trading environment. Gross margins came under severe pressure in the second half of the year as a result of discounting on vehicles and an increase in supplier costs. Management believes that 2009 will be at least as difficult as 2008 leading us to downgrade forecasts for both 2009 and 2010. As a result we are moving our target price down to 84p.

Group is now forecast to be only marginally profitable in 2009 (from a previous forecast of £5.6m) with the UK business forecasted to make a loss of £1.3m at the EBIT level on sales of 1,742 vehicles, a decline of 18% on 2008. This is in line with the current run rate experienced by the group in the first two months of this year, although January and February are traditionally quiet.

The business still faces significant operational risks over the next eighteen months, including supplier solvency, increased competition and a further deterioration in end markets. However, with Chinese production up and running and international sales set to begin in H2 the opportunity for future profitability is substantial and business changing."

[davidosh] 06/3/2009 14:39

Does anyone have the February SMMT figures ? By my calcs it must have been 90 ish sold

[shanksaj] 05/3/2009 09:14

Anybody home??

Can't see any provision for compensation of Cab drivers' lost time (because of modifications due to TX4 fires) in the results.

[davidosh] 06/2/2009 14:47

Thanks Verulamium....in fairness though it must be seen as poor compared to the year before as in 2007 they sold 333 and January is usually one of the better selling months being the start of a new year. The figures will now always be compared against soft comparatives and it shows the market is still getting worse if we exclude the December blip. If this month were an aversage for the year then sales will fall well below break even.

[verulamium] 05/2/2009 23:49

SMMT numbers for January...again, surprisingly resilient:


London Taxis Int 97 (2008 - 103)
Mercedes 18
Total taxis 115

[davidosh] 05/2/2009 09:29

LOL.....great win and it was non stop pressure from the moment Lucas was shown red. The sight of Gerrard leaving the field brought the biggest cheer and Torres is rendered useless when up against Jags ! Nice goal for the youngster ....A night he will certainly remember forever. Next comes the Villa and my best mate supports them so even more excitement on these chilly days.

[toffeeman] 05/2/2009 08:32

OT

You wimp David!!

I got there from the Midlands - best night since MArch 1967 when Alan BAll scored the winner!

[davidosh] 04/2/2009 15:03

No sadly I will not be there....too far in the current weather conditions and all my kids off school

[toffeeman] 04/2/2009 13:05

OT

You going to Goodison tonight David?

[davidosh] 04/2/2009 12:37

Any news yet on January registrations from SMMT ?