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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Ultimate Leis. | ULG | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
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|---|---|---|---|---|
| 0.00 | 0.00% | 157.00 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 157.00 |
| Top Posts |
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Posted at 28/11/2006 10:49 by jeffian I wonder if it's time to call bottom on this now? A few days sustained recovery from the low and now a couple of days' stability despite very weak general market conditions. What do you think?Regards, Ian |
Posted at 19/9/2006 11:02 by jeffian Slightly less millions in this one than they started with. Who knows about their longer-term strategy, but their timing isn't great: |
Posted at 24/7/2006 11:32 by spacecake Late licence and the smoking ban seem to be a couple of rather large hurdles for ULG to jump. Large nightclubs with nowhere for punters to go for a smoke, pubs on late licences with garden acting as smoking area.Other large pub chains using quality food to attract non smoking punters which is working for some of them as they make more from food sales than beverages. |
Posted at 07/3/2006 16:29 by lbo Jeffian. Friz and myself know each other well enough to know when we are joking and winding each other up so perhaps you should keep your comments and "regards" to yourself sometimes and not get involved in things that don't involve you! (How is that for post modernly ironic!)UK Analyst: There was further disappointment for shareholders in Ultimate Leisure, as the company unveiled a further drop in first-half profits. Having seen the share price fall from more than 375p over the course of the past 10 months, punters were asking whether it could get any worse. Last month, Ultimate issued a profits warning, when it said full-year profits would be substantially below current market expectations after experiencing difficult trading conditions over Christmas and the new year. The bar and nightclub operator illustrated these difficulties in its interim numbers, as pre-tax profits came in at 1.6 million pounds for the period to December 31st. A dividend payment of 2.4p was little comfort for Ultimate's tolerant shareholders, as the shares closed 10.5p lower at 257p. |
Posted at 01/3/2006 10:31 by frizsand LBO - Seems that ULG think that a woman´s place is in the Bar! ;-)ULTIMATE SEEKS MORE WOMEN By Chris Tighe Published: March 1 2006 02:00 | Last updated: March 1 2006 02:00 Sausage sandwiches are giving way to female-friendly panini and wraps asUltimate Leisure relaunches its sites. The move by the bar and nightclub operator comes as it attempts to reverse a 20 per cent drop in sales at its core estate during its first half year. Mark Jones, the chairman installed in August following a shareholder revolt, said a £4m capital investment in the current second half would attract more women via smarter toilets, more open frontages at bars and menus that encouraged browsing. In spite of a fall in pre-tax profits from £4.9m to £792,000 on turnover down 11 per cent from £19.6m to £17.5m during the six months to December 31, the board is recommending an unchanged interim dividend of 2.4p per share. The board is also considering a scrip dividend alternative. The pre-tax figure includes a £850,000 exceptional charge relating to ex-gratia payments to directors who resigned during the period. Mr Jones said the "disappointing results" reflected a historic lack of investment and a tough trading environment. Sales in the first seven weeks of 2006 are 13 per cent down on last year. Mr Jones said Ultimate continued to take a "cautious approach" to the second half. In the first half, Ultimate spent £4.2m acquiring three new bars under the Prohibition brand, plus a Glasgow nightclub. It opened a new BluBambu nightclub in Derby and invested £1m on refurbishments. Of its 34 current outlets, it plans to dispose of four, but will add five new sites in the coming months. Oriel, the house broker, kept its full-year forecast of £1.6m pre-tax profit on sales of £35m (£36.4m) unchanged. Last year, the group made a £95,000 pre-tax loss, after a £8.36m write-down of fixed assets. Mr Jones said the latest results were "no surprise". "This is not a veiled hint of a downgrade." Shares fell from 10½p to 257p. |
Posted at 23/1/2006 10:18 by frizsand I take it LBO that if you have trawled through this bb's posts you will find this slightly amusing. It may appear to be out of the blue, I can only say that this will have been the intention of the over done profit warning and the then subsequent share price fall. All in a days work for ULG. I was wondering if Dawnay Day had lost their touch; for now at least it seems not. |
Posted at 03/11/2005 14:27 by jeffian No, don't hold either but keeping ULG on the 'watch list'. Agree about the management but I'd rather assumed they'd be grooming it to be taken over rather than the other way round.Regards, Ian |
Posted at 03/11/2005 09:51 by jeffian You still there, Ju? See report in the Times today (repeated by AFX on the 'news' tab above) that ULG have bid 170p for Inventive Leisure. I know management has changed at ULG but it's an interesting concept that a troubled group whose management have been hammered following an unexpected profit warning should feel it has a case to take over a rather well-run bar chain. It would have been nice to see if the new boys can manage what they've got before applying their skills to others! Share price doesn't seem to have reacted on the rumour but as it involves gearing up those nice freehold assets, it's possible that such a deal may depress ULG share price rather than increase it in the short term. (?).Regards, Ian |
Posted at 01/8/2005 17:22 by nghomi Ju,No I didn't! I have my tin-foil hat on when it comes to ULG! My strongest fear is that the asset of ULG will not be materilized as a) it is commercial property and we may well head to a mild recession (or slowdown) in the UK economy b) Accountants have wiggled with figures again we do not have the amount of assets indicated in the balance sheet! My strongest evidence to back up my theory is that directors are selling in a very big way! I am, however, watching ULG and try to learn from more experienced investors such as yourself. Experience is always count in my eyes! Cheers, Nav |
Posted at 16/9/2004 08:03 by welsheagle RNS Number:9955CUltimate Leisure Group PLC 16 September 2004 Thursday 16th September 2004 ULTIMATE LEISURE GROUP PLC PRELIMINARY RESULTS FOR THE YEAR ENDED 30TH JUNE 2004 Ultimate Leisure Group plc ("Ultimate" or "the Group"), the late licence bar and nightclub operator, is pleased to announce its financial results for the year ended 30th June 2004. Highlights: * Fifth consecutive year of record results * Turnover up by 35% to #35.7 million (2003: #26.5 million) * Profit before tax up 31% to #8.9 million (2003: #6.8 million) * Operating profits up 24% to #9.7 million (2003: #7.9 million) * EPS up 3% to 27.3p (2003: 26.5p) * Proposed final dividend of 4.45p (2003: 4.34p) per ordinary share, making a total dividend for the year of 6.6p (2003: 6.0p) * #20m raised through successful share placing during the year. * New Site acquisition in Belfast and new sites opened in Derby and Durham during the year Commenting on the results, Allan Rankin, Chairman said: "I am pleased to be able to report our fifth consecutive year of record profits and double digit growth in profitability. These results have been achieved despite the increasingly competitive trading environment on the high street and the performance of our sites throughout this period reassures me as to the longevity of our business model. The fundraising that we successfully completed in October 2003 has resulted in our valuable freehold estate being virtually unleveraged, giving us enormous financial resources to utilise as and when opportunities arise. This, combined with our trading success during the year, gives me great confidence for the future" For further information please contact: Ultimate Leisure Allan Rankin Chairman Today: 0289 023 0200 Bob Senior Chief Executive Thereafter: 0191 261 8800 Craig Bell Finance Director Brewin Dolphin Securities Tel: 0113 241 0126 Neil Baldwin ULTIMATE LEISURE GROUP plc PRELIMINARY RESULTS FOR THE YEAR ENDED 30 JUNE 2004 CHAIRMAN'S STATEMENT AND CHIEF EXECUTIVE'S REVIEW It gives us great pleasure to report on yet another year of record profits, record earnings per share and substantial growth. This exceptional trading performance, coupled with the successful share placing in October 2003 ensures that the Group can, with confidence, continue its plan of controlled growth for the foreseeable future. Following our successful opening in Belfast last year, we have further expanded into Northern Ireland during the year with the acquisition of three sites in Belfast city centre. We have also continued our expansion in the North of England with new site openings in Durham and Derby. RESULTS Turnover for the year has increased by 35% to #35.7m (2003: #26.5m) and operating profit has increased by 24% to #9.7m (2003: #7.9m). Pre tax profit has shown an increase of 31% to #8.9m (2003: #6.8m) and earnings per share increased by 3% to 27.3p (2003: 26.5p). The movement in Earnings Per share reflects the increased shares in issue during the period following the share placing in October 2003. The Group has once again achieved a return on sales of 25%, a figure which we believe to be well above the average for the sector. The Group generated significant cash flows during the year and EBITDA for the year was #10.9m (2003: #8.8m). Capital Expenditure during the year was #12.1m (2003: #12.1m) and free cash flow after dividends, interest and tax was #8.0m. (2003: #6.2m) At 30 June 2004 the Group had net assets of #50.4m (2003: #25.8m) and net debt was #6.4m (2003: #22.3m). Gearing stood at 13% (2003: 86%) and interest is covered 10.8 times by earnings (2003: 6.9 times). DIVIDENDS The Board recommends an increase in the final dividend to 4.45p per share (2003: 4.34p) making a total dividend of 6.6p per share for the year (2003: 6.0p). The dividend will be paid on 8 November 2004 to shareholders registered on 8 October 2004. BUSINESS REVIEW The year to 30 June 2004 has been yet another exciting and successful year for the Group. During this period we have more than secured the medium term funding requirement for the Group through the successful placing of 6.9m shares at a price of #3 per share, raising #20m. These funds have been used to expand the business in both the North of England and Northern Ireland as well as to further invest in our freehold estate. CHAIRMAN'S STATEMENT AND CHIEF EXECUTIVE'S REVIEW (Continued) BUSINESS REVIEW (CONTINUED) New Openings and Acquisitions In August 2003, the Group invested #4m in the freehold acquisition of three trading units in Belfast city centre. These units complement our beach club, Bambu Beach, which opened in April 2003 and have traded in line with our expectations. In December 2003, the Group's third Coyote Wild bar was opened in Derby and once again we are delighted with trade in this site. The success of this site further strengthens our belief in the roll out of this concept where appropriate. The Group completed its longest development project to date in March 2004 when our latest Chase bar was opened in Durham. The Group acquired this site in 1998 and was eventually granted planning permission and licensed, following a public enquiry, in 2003. The refurbishment was completed over the course of the year and the site opened on 5 March 2004. Our Chase styled bar in Jesmond, Bar Bacca at the Gresham Hotel, also opened in December 2003. This has been the subject of a lengthy and ongoing legal battle whereby five local residents, funded by a local trade objector, have objected to the transfer of the licence. Refurbishment of Freehold Estate The Group continues to invest in its existing premises to take advantage of the new momentum being introduced by the changes in licensing hours. During the year we have refurbished our Royal Building site in the Bigg Market, Newcastle and this opened as a 1200 capacity late licence bar in August 2004. It is our intention to further invest in our current estate when the directors feel that appropriate returns will be achieved. This re-investment in our current portfolio ensures that the whole of our estate continues to contribute significantly to the profits of the Group. Post Year End Developments The Group opened its newly refurbished site in Leeds, a 1600 capacity bar and nightclub in September 2004. MANAGEMENT AND STAFF The Group has seen changes at board level during the year with the retirement of our Chairman, Jon Pither. Jon has been with the Group since flotation in 1999 and his wise counsel has been much appreciated by the Board during this period. We wish Jon a long and happy retirement. Following Jon's retirement, Allan Rankin has become chairman of the Group and Bob Senior is now Chief Executive. Charles Williamson, formerly with Scottish and Newcastle Plc, has joined the Group as a non executive director and we would like to take this opportunity to officially welcome Charles to the Board. The Group now employs more than 1000 people and we thank and congratulate our staff for their valued contribution to the success of the Group. The calibre of our personnel remains second to none and without their hard work and dedication our success would not have been possible. CHAIRMAN'S STATEMENT AND CHIEF EXECUTIVE'S REVIEW (Continued) OUTLOOK The consistent trading performance of the Group and its individual units once again proves the strength of the Ultimate Leisure business model, a model which the Group will continue to adhere to as it continues its expansion plans. It has become apparent in recent months that there are serious concerns about the levels of 'binge drinking' in the UK, a concern shared by the directors of Ultimate Leisure. This problem is exacerbated by the all inclusive drinks offers available in many high street outlets, an irresponsible policy which will never be offered by Ultimate Leisure. Ultimate Leisure has always favoured, and will continue to support and encourage, a minimum pricing policy for drinks in the high street in an attempt to limit these problems. This minimum pricing experiment has been successfully implemented by Perth and Kinross licensing board and the Group supports the roll out of this policy across the UK. With yet another year of record profits behind us, the directors remain extremely positive about the prospects for the Group notwithstanding the extremely competitive trading environment prevalent in the high street at the moment and look forward to another year of substantial growth for the Group. Allan Rankin Bob Senior Chairman Chief Executive 16 September 2004 CONSOLIDATED PROFIT AND LOSS ACCOUNT For the year ended 30 June 2004 2004 2003 #'000 #'000 Notes TURNOVER 35,657 26,504 ====== ====== OPERATING PROFIT 9,746 7,873 Net interest payable 2 (858) (1,103) ______ _____ Profit on ordinary activities before taxation 8,888 6,770 Taxation 3 (2,758) (2,101) _____ _____ Profit on ordinary activities after taxation 6,130 4,669 Dividends - paid (524) (290) - proposed 4 (1,084) (758) _____ _____ RETAINED PROFIT 4,522 3,621 ===== ===== The results of the Group for the year arose entirely from continuing operations. There were no recognised gains or losses in the year to 30 June 2004 other than the profit for the year. Dividend per share 4 6.60p 6.00p Earnings per share - basic 5 27.6p 26.7p - diluted 5 27.3p 26.5p CONSOLIDATED BALANCE SHEET As at 30 June 2004 2004 2003 #'000 #'000 Notes FIXED ASSETS Intangible assets 6 250 258 Tangible assets 6 64,787 53,909 ______ ______ 65,037 54,167 ______ ______ CURRENT ASSETS 423 359 Stocks Debtors 7 1,758 1,382 Cash at bank and in hand 1,554 859 ______ ______ 3,735 2,600 CREDITORS - due within one year 8 (10,044) (8,476) ______ ______ Net current liabilities (6,309) (5,876) ______ ______ 58,728 48,291 TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS - due after one year 8 (6,140) (20,701) - Provisions for liabilities and charges 9 (2,208) (1,751) ______ ______ 50,380 25,839 ====== ====== NET ASSETS CAPITAL AND RESERVES Called-up share capital 2,437 1,747 Share premium 24,420 5,091 Other reserves 7,013 7,013 Profit and loss account 16,510 11,988 ______ ______ EQUITY SHAREHOLDERS' FUNDS 50,380 25,839 ====== ====== CONSOLIDATED CASH FLOW STATEMENT For the year ended 30 June 2004 2004 2003 #'000 #'000 Notes Net cash inflow from operating activities A 11,548 8,404 ------- ------- Return on investments and servicing of finance 47 42 Interest received (905) (1,145) Interest paid ------- ------- Net cash outflow from return on investments (858) (1,103) and servicing of finance ------- ------- Taxation paid (1,431) (1,169) ------- ------- Capital expenditure (11,845) (10,916) Purchase of tangible fixed assets - - Sale of tangible fixed assets and investments 22 583 ---------- ---------- Net cash outflow from capital expenditure (11,823) (10,333) ---------- ---------- Acquisitions (270) (932) Dividends paid (1,282) (814) ---------- ---------- Cash outflow before financing (4,116) (5,947) Financing Net proceeds from share issue 20,051 - Bank loans (15,240) 5,577 ---------- ---------- 4,811 5,577 ---------- ---------- Decrease in cash B 695 (370) ====== ====== NOTES TO CASH FLOW STATEMENT A Reconciliation of Operating profit to Operating cash flow 2004 2003 #'000 #'000 Operating profit 9,746 7,873 Depreciation 1,200 880 Profit on Sale of tangible fixed assets and investments (5) (128) Change in Stocks (64) (100) Change in Debtors (376) (246) Change in Creditors 1,047 125 ______ ______ Cash Flow from operating activities 11,548 8,404 ====== ====== B Movements in net debt 2004 2003 #'000 #'000 Increase in cash 695 (370) Decrease in loans 15,240 (5,577) ______ ______ Change in net debt 15,935 (5,947) Opening net debt (22,299) (16,352) ______ ______ Closing net debt (6,364) (22,299) ====== ====== NOTES TO THE PRELIMINARY ANNOUNCEMENT For the year ended 30 June 2004 1. Basis of Preparation The financial information contained in this document does not constitute statutory accounts within the meaning of section 240 of the Companies Act 1985. The financial information for the year ended 30 June 2003 has been extracted from the statutory accounts for that year which have been filed with the Registrar of Companies and which contain an unqualified audit report. The financial information for the year ended 30 June 2004 has been extracted from the statutory accounts for that year which contain an unqualified audit report but which have not yet been delivered to the Registrar of Companies. 2. Net interest 2004 2003 #'000 #'000 Interest payable (905) (1,145) Interest receivable 47 42 ------- ------- (858) (1,103) ------- ------- 3. Taxation 2004 2003 #'000 #'000 UK Corporation Tax at 30% (2003: 30%) 2,758 2,101 -------- ------- 2,758 2,101 -------- ------- The Group has adopted FRS 19 "Deferred Taxation" in these financial statements. 4. Dividend A final dividend of 4.45p per share is proposed and, if approved at the forthcoming Annual General Meeting, will be payable on 8 November 2004 to those shareholders on the register at the close of business on 8 October 2004. NOTES TO THE PRELIMINARY ANNOUNCEMENT (cont.) For the year ended 30 June 2004 5. Earnings Per Share Basic earnings per share is calculated based on the profit on ordinary activities after taxation divided by the weighted average number of shares in issue being 22,195,853 (2003 17,469,826). Diluted earnings per share is calculated in accordance with FRS 14, based on 22,464,277 shares (2003: 17,611,682). 6. Fixed Assets 2004 2003 #'000 #'000 Intangible Fixed Assets Opening Net Book Value 258 262 Additions - 3 Amortisation (8) (7) --------- --------- Closing Net Book Value 250 258 --------- --------- 2004 2003 #'000 #'000 Tangible Fixed Assets Opening Net Book Value 53,909 42,628 Additions 12,095 12,339 Disposals (49) (248) Depreciation (1,168) (810) --------- --------- Closing Net Book Value 64,787 53,909 --------- --------- NOTES TO THE PRELIMINARY ANNOUNCEMENT (cont.) For the year ended 30 June 2004 7. Debtors 2004 2003 #'000 #'000 Trade debtors 163 23 Other debtors 35 36 Prepayments 1,560 1,323 -------- -------- 1,758 1,382 -------- -------- Other debtors include #35,000 (2003: #35,000) due after more than one year. 8. Creditors 2004 2003 #'000 #'000 Due within one year Bank loans 1,778 2,457 Trade creditors 3,623 3,299 Corporation tax 1,833 963 Dividend payable 1,084 758 Other taxation and social security 966 500 Other creditors 24 130 Accruals and deferred income 736 369 --------- --------- 10,044 8,476 --------- --------- Due after one year Bank loans - due between one and two years 1,778 2,457 - due between two and five years 4,362 6,979 - due after five years - 11,265 --------- --------- 6,140 20,701 --------- --------- 9 Provisions for liabilities and Charges Deferred Taxation 2,208 1,751 ====== ====== This information is provided by RNS The company news service from the London Stock Exchange |
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