The Artisanal Spirits Share Discussion Threads

[shawzie] 11/7/2006 14:07

nothinventured
rough calculation -if we strip out intangibles - shares issued 291M - nav 5.7p
using 328M shares issued - nav 5.1p.

i think that the market has the share price about correct with little room for manoeuvre. current 3.61P to sell and 3.8p to buy (selftrade).

rushing so hope my calcs are all right.

[nothinventured] 11/7/2006 13:57

Seymour pierce has reiterated their BUY stance

[gjabrj] 11/7/2006 13:57

I think true nav will be in the region of 6 - 7p taking account of current market value of plots and wip.

So if the company can purchase shares for half what they are worth then go ahead. If it need cash borrow it at 6% per annum!

Anyone else agree?

[nothinventured] 11/7/2006 13:55

shawzie

what about intangibles - I get a NAV of 5.2p when knocking them out, really isnt much risk

[shawzie] 11/7/2006 13:44

gjabrj
The nav at year end looks good (around 6.5p), but not all the issued shares are shown in the year end accounts. However it is probably not less than 5.8p.
The number of shares used, would also affect ther calculation of earnings per share. Shares on issue since March 3, 2006 is 328.5M.

If cash is requireed to build the business, why buy back shares?

[gjabrj] 11/7/2006 11:20

What about a share buyback with share price at such a discount to NAV.

[mistertibbs] 11/7/2006 10:33

gjabrj.....sorry if I sounded a bit quick. Hadn't had my first dose of caffiene before I read your thing. Now had it and a bit more relaxed. Strange cuppa caffiene you may think but we all need an early morning something?

We are after all, on the same side.

Agree with that last comment shawzie.

Must say I like these bb alerts. Just put this one on and works well ( my first, I'm an alert virgin so to speak )

[shawzie] 11/7/2006 10:10

This is the bit that I like from Michael Stevens Report -

"We are determined to take the Group forward to a more robust market
capitalisation and believe the platform to achieve this growth is now firmly
founded. Our future progress will be led by organic growth in both divisions
supported where feasible by other opportunities. We will invest in further
outlets to provide more sales opportunities and therefore the investment in
additional land is of paramount importance to the Group. The investment in the
current year will provide the sales opportunities in future years.

With this in mind, your Board does not recommend a dividend for the current
year, so that funds for investment can be retained in the business."

Sounds as if he has a good grip of ART.

[gjabrj] 11/7/2006 10:08

tibbs, dont get me wrong the results are good the problem is the share price does not reflect them.

[mistertibbs] 11/7/2006 10:03

The results have been out for a few hours for goodness sake. This is a very small company with organic growth of about 20% this year. Lets see if the much bigger housebuilder rdw reports similar results tomorrow. Somehow, I doubt it as I also hold them and they are likely to show a drop in profits.I think in the current environment, these are encouraging results on a pe of roughly 5.5 which is not unusual for a housebuilding business of this size. Plenty of room to grow and do it organically

[gjabrj] 11/7/2006 08:21

No divi no share price rise - again!

[swiftnick] 11/7/2006 08:16

I can understand them passing the dividend for one more year. But I think they should have made some positive noises about reintroducing it in 2007.

Welcome aboard Wiganer.

[bsg] 11/7/2006 08:10

Shame about the slow commercial sales bit, yet another fly in the ointment.

[wiganer] 11/7/2006 08:03

Decent figures should draw in a few punters. I'm in for the first time.

[gjabrj] 11/7/2006 07:29

In a report to all creditors of Bickerton Construction
Limited, the liquidator has stated that no further investigations or actions are to be carried out.


Put to bed at last!

[canford cliffs] 11/7/2006 07:23

well there we have it.............seems like everythings 20% up, but will it be good enough to move the sp?

[gjabrj] 10/7/2006 16:41

Pi$$ poor communications again!

[sll] 10/7/2006 16:37

gj - I would guess so, before Thursday, but don't have any better info than given here. steve

[gjabrj] 10/7/2006 15:38

steve, going away on thursday was hoping accounts wold be out before then.

[sll] 10/7/2006 15:28

gj, any time from tomorrow, steve

[gjabrj] 10/7/2006 13:29

So when do we get the accounts??

[blueblood] 07/7/2006 16:11

What a load of ollox. Why say 1st week in July not just July if their weren't certain. Just like the Dean days!!!!

[mistertibbs] 07/7/2006 15:56

I emailed art who apologised for results not being issued. Gina Day also states she did not know when they would be issued but suggested it should be soon. Replied within 1/2 hour so not bad.