Safeland Share Discussion Threads

[hybrasil] 12/12/2003 08:00

simonevans-yes

[lauralou] 12/12/2003 00:49

If the beginning of your day is about possibilities, then the end of your day is definitely about results. In between, let this help you get great results. By registering with this free newsletter, you will receive the most timely stock alerts available. You will be notified when undervalued stocks are on the move. You can cancel at any time. Grasp the possibilities. These shares are traded exclusively in US markets.

[simonevans] 11/12/2003 21:32

hybrasil - have you been buying then?

[8 ball] 10/12/2003 18:50

And again today, 10% in two days.

[simonevans] 09/12/2003 20:08

Big increase in the price today. Any views as to why?

[jeff h] 07/11/2003 09:10

Added again.

If the proposed sale of the Italian storage business goes through
it will be good news for Safeland holders.

The Tech ISS holders are moaning about the price...don't they know
the Lipman's buy at bargain prices!

Peter O'Reilly likes his storage businesses and as he holds near
10% of Tech ISS there must be a good chance the sale will go through
before the Safeland Interims.

It would mean a cash inflow (and probably a profit) to Safeland,
whilst the losses which are an initial feature of storage businesses
go to Tech ISS, although as an Associate Safeland will still have 25%
of them until the business matures and becomes profitable.

[8 ball] 18/10/2003 17:11

I have just gained an interest in Safeland via my investment club.
Having done some research I think they look undervalued.
Bizspace has risen a lot in the last 4 weeks, surprised that rise has not lifted Safeland.

[hugepants] 16/10/2003 14:29

Bizspace look a similar company to Safeland. Theyve risen strongly on results, I wonder if SAF due a rise now. Any thoughts?

[hugepants] 01/10/2003 23:35

I dont understand how this company is valued. Current price looks bananas to me (ie. far too cheap). And what is it with this Yorkshireman character? He keeps talking about 'rank' trading conditions and then his company posts a stonking profit.

[irresponsible] 26/9/2003 09:38

Do they still have the Envesta shares as well?

I had a look through the previous Chairman's statements. (Quotes below)
Is he a Yorkshireman?


14.06.99
"Safeland has continued its unbroken profits record despite the tough market
conditions."

22.11.99
"I therefore view the future with some degree of caution."

09.06.00
"..against this background that we strike a cautionary note to short term
prospects ... The board is cautious about current market conditions."

20.11.00
"For the remainder of the financial year we do not see any major changes to
the property trading environment"

20.06.01
".. market conditions remain difficult. "

19.11.01
"Trading conditions, despite a promising start, have continued to be tough
with gross margins under pressure"

24.06.02
"The company does not see any significant improvement in the near future."

09.12.02
"It is a continuing testament to Safeland's ability to trade profitably
under the current market conditions which have reigned for approaching two years"

31.03.03
"I must continue to advise shareholders that market conditions
are still proving to be extremely difficult"

[hugepants] 24/9/2003 10:04

Anyone have an up to date annual report?

What is SAF's holdings in Hercules, BizSpace and Safestore. I noticed Safestore was sold recently for 40M.

[dupree] 20/6/2003 14:15

did anyone follow whether the price improvement was based on trading or just market maker action following results?

[dupree] 17/6/2003 11:39

the statement saw buy back as successful policy to pursue further....what we have always been asking ourselves is not just how long it can go on but where does it lead. Perhaps it doesn't lead anywhere except fewer shares and stronger asset support for share price?

[simonevans] 16/6/2003 22:00

It's quite interesting to see debt so low: the company has significant firepower - more so than at any point in its history. I think the reversal of the Italian self-storage assets (£2m or so) into Tec-IS was flagged-up as likely in these results as well. The share buy-back can probably continue for a while, but there must be fewer and fewer sellers; how much longer can this really go on?

[dupree] 16/6/2003 20:58

quite a surprise for us all?
lack of interest is a big factor barney. I think it has almost always looked cheap. but maybe the rise is not so great as to warrant a fall back, especially with the share buyback thing ongoing
I have held on for its apparent low risk and hope of modest gains

[simonevans] 16/6/2003 20:31

Excellent results, excellent company!

[barnetpeter] 16/6/2003 19:20

This company is very cheap indeed on a 2 year view. Thought about buying this morning. Think it might drift back to around 45p simply because of lack of interest

[jeff h] 16/6/2003 17:02

Well if it can keep making profits of those magnitude, then long may
'extremely difficult' market conditions continue !

The actual pre-tax profit figure in the Profit & Loss a/c would have been
£5.0m if they hadn't previously revalued Investment Properties to the
then current market values.

This meant that in the current figures £1.463m was transferred from the
Revaluation Reserve to Profit & Loss Reserves without going through the
Profit and Loss Account.

A small profit on the disposal of Safestore shares (about £75k) has been
included but that's minor.

Safeland now is a hotch potch of property trading,investments and joint
ventures, but even so a market value at a discount of 45% to Net Assets
is unwarranted.

Good value by any yardstick. I'd guess that the Lipman's will now be
targeting for buy-back the one remaining large shareholder who owns
(I think) in excess of 1 million shares

[hugepants] 16/6/2003 15:48

By my calcs the market cap is not 12.3M as stated by ADVFN but only 10.8M. There has been a lot of shares bought back recently. eps over 11p on 21.6M shares currently in issue.

Also how 'exceptional' is the profit from the joint venture? Can a decent profit be expected next year?

Balance sheet looks good. I assume most of the tangibles are properties but will check. And buying back shares. Looks dead cheap.

[skyracer] 16/6/2003 09:44

All seems to have hinged on exceptional profit from joint venture, the core business is doing poorly, however to be fair they admit this; " market conditions are still proving to be extremely difficult ".

[lob25] 16/6/2003 08:31

No one notice this set of results? any comments?

RNS Number:3439M
Safeland PLC
16 June 2003

SAFELAND PLC

Preliminary Announcement
31 March 2003


CHAIRMAN'S STATEMENT


I am pleased to be able to write to shareholders with regard to the year ended
31 March 2003 as this has proved to be Safeland's second most successful year in
terms of trading profit, since its flotation in 1989.

Profit before taxation for the year is #3,522,000 (2002: #257,000), with a
resultant earnings per share of. 10.33p (2002: loss per share of 0.81p).
Particularly successful during the year has been our residential property joint
venture, which contributed just under #2.5 million (2002: #570,000) profit
before taxation. Notwithstanding the profits that have been achieved during the
year under review, I must continue to advise shareholders that market conditions
are still proving to be extremely difficult, particularly concerning the
identification of suitable trading stock. The situation remains similar to that
described in my previous two statements.

What is evident, however, is that this stock shortage is prevalent throughout
the marketplace and often means that properties are being sold profitably
shortly after they are acquired.

During the year under review, Safeland undertook 92 transactions compared with
79 in the previous year with an average lot size in excess of #530,000.

Turnover for the current year is #26,101,000 compared to #24,477,000 in the year
ended 31 March 2002. As a result of the profit that has been achieved in the
year, and the continuing policy of purchasing own shares, net asset value has
risen to 91p compared to 74p in March 2002, an increase of 23%.

The continuing purchase of own shares by the company for cancellation has proved
to be successful in two specific areas. Firstly, it has had a positive effect
on net asset value per share, and secondly despite the global stock market falls
that have been endured, Safeland has maintained its share price and stands at
46.5p today compared to 46.5p as at 31 March 2002 and 47p as at 31 March 2001.

This compares highly favourably with the FTSE Fledgling index, which stood at
1542.7 at 31 March 2003, 2042.0 as at 31 March 2002, and 2104.6 at 31 March
2001.

There is, therefore, sufficient evidence to suggest that purchasing own shares
is a policy that Safeland should be continuing, and accordingly, it has been
decided that once again the Board will not be declaring a dividend, but
preferring to utilise available funds both for its trading activities and the
opportunity to purchase shares as the Board feels appropriate.

During the year, we moved to our new head office in Finchley at a cost of just
over #1 million including refurbishment, having realised a substantial profit
against cost on our previous premises.

As part of our wider strategy of diversification and investment, on 27 March
2003, Safeland announced that it had entered into put and call options over a
25% per cent stake in an AIM-listed company called Tecc-IS plc. It has since
exercised its option.

As part of this wider strategy, our Italian self storage joint venture continues
to grow, with our centre in Rome open and operational and two others in Milan
due to open in the not too distant future.

Notwithstanding the market having stayed relatively stagnant for a couple of
years, Safeland has continued to exhibit its expertise in property trading and
is extremely well positioned as always to take advantage of any changes as and
when they occur.

[simonevans] 22/5/2003 21:37

It's all a bit dull on the Safeland thread at the moment isn't it. Results not too far off though and I suspect that they will be solid. I'm watching Tec-IS quite closely.