Ultimate Leisure Share Discussion Threads

[lbo] 08/3/2006 10:03

Friz, I will go to my room only if you come too!

(Jeff you can stay outside and listen and definately not get invoved (something which seems to be difficult for you!)

[jeffian] 07/3/2006 16:55

#0
?
~


(Knockout!)

Regards, Ian
(and particularly fond regards to you, LBO)

[frizsand] 07/3/2006 16:42

Well Ian I think this time LBO has hit me with a gotcha. But I did laugh the loudest, even though I shouldn't. I do rather expect that for Neanderthal LBO, Post Modern ironical is a bit too much to expect him to grasp, but always the gent you gave him an out. ;-) Ju.

Edit: LBO - Go to your room!

[lbo] 07/3/2006 16:29

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.

[jeffian] 06/3/2006 15:17

I hope she thinks you're being post-Modernly ironic, LBO, or a girl could take that amiss!

Regards, Ian

[lbo] 06/3/2006 15:09

Fizand, The bar and the bed! and sometimes the Kitchen! LOL

[frizsand] 01/3/2006 10:31

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.

[tonic22] 27/2/2006 17:08

Well announcment due tomorrow. Sure to include new valuation of property assets. Hopefully some more good news on trading. Fingers crossed
Tonic22

[lbo] 18/2/2006 18:23

I mean in terms of share price and buying interest. Although the last few days that seems to have waned away again.

[frizsand] 10/2/2006 11:20

What do you mean now. It has been for some time one way or another, LBO.

[lbo] 10/2/2006 10:53

Seems to be generating some interest now

[andyh69] 09/2/2006 09:13

The Investment Column
Ultimate Leisure could yet be another Reubens' masterpiece
Edited by Michael Jivkov
Published: 09 February 2006

Ultimate Leisure could yet be another Reubens' masterpiece

Over the past few months the billionaire Reuben brothers have been steadily building up a stake in Ultimate Leisure through contracts for difference. On Tuesday the duo converted these derivatives into actual shares and now control 29.9 per cent of the bars and nightclubs group.

To say they are shrewd investors would be putting it mildly. They made their fortune in the 1990s by setting up a metals trading business in Russia and selling it to Chelsea owner Roman Abramovich. They have been busy reinvesting their money in the UK and have built up a substantial property portfolio.
Ultimate's property backing is clearly the main reason for their interest in the company. At yesterday's closing share price of 266p the group is valued at £65m. But its property estate is worth £80m. This ascribes a negative value to Ultimate's operating business which last year registered sales of £36m. Admittedly, since then trading has deteriorated greatly.

However, its managers have a clear turnaround strategy. They intend to reinvest in the group's rundown estate and build up a series of brands. Ultimate has a strong balance sheet, so it should have no problem financing these reforms. In fact it has promised to continue paying dividends. The group's management already have quite a reputation for reviving down-on-their-luck bar operators. They led the renaissance of Yates a few years ago and eventually sold the group on to a private-equity firm.

Ultimate's asset backing means there is little downside in its shares, and once trading starts to pick up they should start to motor. Investors would do well to follow the lead of the Reuben brothers and buy.

Source:

[tonic22] 06/2/2006 16:29

Reubens bros increase stake to 29.95%!!!!
RNS Number:9920X
Ultimate Leisure Group PLC
06 February 2006
Ultimate Leisure Group plc (the "Company")
Holding in Company
Pursuant to rule 17, the Company has today been notfied of the following
interest in the Company's Ordinary 10p shares ("Shares").:
Schedule Five
(a) the identity of the significant shareholder concerned;
Reuben Brothers Limited
(b) the date on which the disclosure was made to it;
6 February 2006
(c) the date on which the deal or relevant change to the holding was effected;
6 February 2006
(d) the price, amount and class of the AIM securities concerned;
7,410,943 Ordinary 10p shares
(e) the nature of the transaction;
Change in notifiable interest
(f) the nature and extent of the significant shareholder's interest in the
transaction;
This holding represents 29.95% of the Company's issued share capital
(g) where a deal takes place when it is in any close period under rule 21, the
date upon which any previous binding commitment was notified or the date upon
which the Exchange granted permission to deal in order to mitigate severe
personal hardship; and
N/A
(h) where the notification concerns a related financial product, the detailed
nature of the exposure.

[frizsand] 23/1/2006 10:18

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.

[lbo] 23/1/2006 09:23

Also FYI


Ultimate may face bidders
(19 January 2006 10:19)

Bar and nightclub operator Ultimate Leisure may soon face a takeover just a month after failing to buy rival Inventive Leisure.

Ultimate issued a profits warning at the end of last week stating that trading over the important Christmas and New Year period and into January "has proved to be very difficult".

The company blamed the lack of historic investment in its bars which meant it was unable to compete effectively. Its nightclub business also suffered due to the opening of "significant new competition".

Overall, this will mean that the second half of its year to 30 June will see a "material shortfall in sales" leading to profits that are "substantially below current market expectations".

As if in anticipation of a bidding war, the trading update from Ultimate said that a revaluation of its assets had put a price of around £80m on the group rather than the £66m value of its estate that is carried in its books.

Ultimate's attempt to acquire vodka bar chain Inventive failed after private equity firm Alchemy Partners secured more than half of its shares just before Christmas.

Now that Ultimate itself is a potential target, Regent Inns is tipped as a likely predator. Regent had also been interested in Inventive

[lbo] 23/1/2006 09:21

Just took an interest recently. More in the Telegraph over the weekend

[frizsand] 20/1/2006 17:00

Thanks LBO! There's never a dull moment with this one.

Edit: LBO, just a minute you are not getting away that lightly, what are you doing on here? I did not know you held this stock, and as prolific as you are, we would have heard from you sooner. Have you just bought in?

[lbo] 20/1/2006 08:30

Rumour of the day


The billionaire Reuben brothers are understood to have built a stake of as much as 29 per cent in Ultimate Leisure, up 1p to 256p, the bar operator that last week gave warning on profits after poor Christmas trading. The duo are said to have been attracted by Ultimate's £80 million of property assets. They have bought their holding through contracts for difference.

[frizsand] 13/1/2006 11:13

Agree Ian.
I still have a small amount but not losing any sleep. I seem to remember the share price has been here before, looks not bad value at the present but will see what they do. It is Friday the 13th; be fair. ;-)

[jeffian] 13/1/2006 10:50

Oh dear, another profit warning! You still holding on Ju? I see they've thrown in the final defense of a property revaluation, which answers some of the queries about the balance sheet discussed in our posts last August. Looks to me like a NAV around 240p/share which is presumably why the shares bounced back this morning after initial dip. My concern now - if I were a holder which I am no longer - would be the intention to re-fit the bars and trade out of trouble. Re-fits are very expensive (£500k-£1m per outlet?) and last about 3 years in this high-fashion business, so that additional £12m they found on reval could easily be blown.

Regards, Ian

[frizsand] 03/11/2005 17:43

lol! I will remember that.

Catch you later. Ju.

[jeffian] 03/11/2005 17:34

Nope. I don't do subtle!

[jeffian] 03/11/2005 16:44

Hey, Ju, do you remember an exchange with nghomi in August about EVS? Just noticed it went bust yesterday. Hope nghomi took our advice and sat on his hands.

8-(

Regards, Ian