Ultimate Leisure Share Discussion Threads

[gzr] 29/5/2002 07:56

Excellent news:

RNS Number:5719W
Ultimate Leisure Group PLC
29 May 2002

Trading Statement

Ultimate Leisure Group plc, the high profile venue bar and nightclub operator,
is pleased to announce that the planned rollout of its 'Chase' and 'Beach'
concepts has progressed ahead of schedule. Although this will not impact on
current year figures, the directors believe that profit for the financial years
to 30 June 2003 and beyond will be ahead of current market expectations.

[mxds] 24/4/2002 17:09

Tssssch, suspect the m's were trying to catch out a few newbies following the +ve note. Hope they got bitten.
Bought time we had some news from this booming company.
Back to sleep zzzzzzzzzzzzzzzz

[omt] 22/4/2002 08:24

Such as this morning! - Hopefully the directors will reduce their stake by selling direct to fund managers/institutions as the company grows in size

[mxds] 21/4/2002 22:01

Thanks Cymro. Interesting to note the family hold 70%, this means there is just 30/100 * 41M = £12.3M worth of shares floating about or 12.3/2.36 = 5.2M shares
Little wonder they fluctuate on such little trade.

[cymro] 21/4/2002 21:22

Tipped in the Mail on Sunday

Bars and nightclubs can be fickle businesses, but Ultimate Leisure appears to have a winning formula in the North. The Newcastle-based company has 23 late-night bars and clubs, and has delivered consistent growth since joining the Alternative Investment Market in July 1999 with 11 venues.

Its most recent results for the six months to the end of December showed a 25% rise in turnover to £10.4 million and profits up 24% to £2.6 million.


Ultimate focuses on underdeveloped prime locations and creates one-off branded venues with names such as Sea, Jonny Ringos and Bill Stickers.


The company, whose chief executive Allan Rankin and his family still own 70% of the shares, demands a 20% annual return on its investments.


Its last figures enjoyed some benefit from the 1,300-capacity Beach nightclub, which opened in Sunderland in October, and it plans a similar-sized venue this year in Newcastle's prime entertainment area, the Bigg Market, where it has been granted the first latenight licence.


About 90% of Ultimate's properties are freehold, which at its last year end gave the group a net* asset value of £21.5 million against borrowings at the half year of £15.1 million.


Ultimate's stock market value, based on last week's closing price of 236 1/2p, is £41 million. Analysts forecast earnings per share* for the current year of 20.6p, putting the shares on a priceearnings ratio of 11.


There is a dividend* yield* of just under two%, but Ultimate is a growth play and its next major step is a gradual expansion of its geographical reach, with new sites in Rotherham and Nottingham.


Borrowings are likely to increase as new sites are bought and fitted out, but interest payments are covered about six times by earnings.


• Midas verdict: Ultimate has proved adept at developing business in its northern heartland, but it now faces the test of repeating the trick in new areas. The record of management, which includes industry veteran Bob Senior as managing director, and its steady approach to building its business, suggests it stands a good chance.

The shares are tightly held and should be viewed as a long-term investment, but they rate a speculative buy.

BFN

cymro

[mxds] 18/4/2002 21:31

Surely he can dig deeper than that!
Been a bit quiet on this board for a while. Noticed the price has stabilised pretty much, still thanks for the divi I got this morning.

[greatbear] 18/4/2002 17:28

Dircetor buying

RNS Number:7601U
Ultimate Leisure Group PLC
18 April 2002

Ultimate Leisure Group plc ("the Company")

Director Shareholding

The Company was notified today that Craig Bell, a Director of the Company, has
purchased 1,000 ordinary 10p shares at a market price of 238 pence per share.
Mr Bell now has an interest in 3,000 ordinary shares in the Company representing
0.02 per cent. of the current issued share capital.


GB

[cymro] 19/3/2002 13:10

Apparently mentioned in today's Daily Express:

Institutional buying lifted AIM-listed bars and nightclubs operator Ultimate Leisure 13p to 235.5p

BFN

cymro

[user] 11/3/2002 11:37

there were some huge sells last week, what were these? Surely they must have been notifiable?

Al.

[ajinvesting] 09/3/2002 17:03

Anyone one know what those huge sells just before the close on Wednesday were all about? Usual daily volumes of ULG are up to maybe 20,000 - on Wednesday it looks like nearly 2 million were sold?

AJ

[welshanalyst] 08/3/2002 20:48

Shares magazine has an A4 spread, this week, with the main points being:-
a/ Business is booming with an successful business format.
b/ Good growth prospects.
c/ Low PE ratio of 11.

Investor's Chronicle has apparently reiterated their buy recommendation, according to Sharecast.
Can anyone post this article.

[cymro] 03/3/2002 19:24

The article re-confirms what we aleady know:

Ultimate Leisure [ULG] ' leisure & entertainment
28 February 2002 8:00:00 AM
ULG

Bar operator Ultimate Leisure is upbeat about future growth after a strong first half and securing a further £13m facility for expanding its bars outside the North East. It is working on opening new bars aimed towards longer opening hours. The existing bars range from one-off sites such as Jimmy'z and Luckies, to large capacity Beach and Chase bars. Ultimate has funded all its expansion for 2002. The group says all its sites are profitable from day one, as a result of choosing sites on existing drinking circuits.

BFN

cymro

[welshanalyst] 02/3/2002 18:39

Investor's week point out the strong growth prospects, and that ULG are well funded for expansion.

[welshanalyst] 01/3/2002 21:33

According to Sharecast.com in the press round-up, The Times reported the opening of a new £1.4m venue in Northern Ireland in the Odyssey centre.

[welshanalyst] 28/2/2002 21:19

Shares magazine rate as a buy today, due to PE of 11, and growth prospects.

[cymro] 28/2/2002 00:52

Mentioned in The Times today - haven't seen the full article myself but the following is an extract :

----------------------------------------------------------------------------------------
AIM listed bar and nightclub operator Ultimate Leisure (ULG.L) is to open a late-night venue in Belfast, and is eyeing a small number of sites with a view to opening its first club in the city later this year. The group currently operates 23 venues.
----------------------------------------------------------------------------------------

Pretty much the same story as published elsewhere such as on Leisure and Hospitality Business:-

--------------------------------------------------------------------------------------
Ultimate Leisure targets Nottingham and Belfast
Bar and nightclub operator Ultimate Leisure plans to expand its Caribbean-themed bar Beach in Nottingham and Belfast.
The group, which has around 25 sites across the North East and one on Nottingham, opened its first Beach in Sunderland in October. It has been described as a 'significant addition' to the company's portfolio.
Ultimate managing director Bob Senior said it was now opening Beach, which is an entertainment-led bar aimed at 19 to 22 year olds, in Rotherham, Newcastle-Upon-Tyne's Bigg Market and would be looking for sites in Nottingham and Belfast.
The company made its first move outside the North East with the acquisition of Glasshouse in Nottingham last year. It is now planning to convert the site into its bar concept Chase.
He said Nottingham and Belfast both have similar drinking circuits to Newcastle which made them both attractive cities for its plans to open larger units with late night licences.
It revealed plans as it announced a 24 per cent increase in pre-tax profits to £2.6million for the six months ended 31 December. Turnover was up by 25 per cent to £10.4million compared to £8.3million in 2000.
--------------------------------------------------------------------------------------------

2002 is off to a good start for ULG when you consider all the projects they now have in the pipeline :-

Bigg Market - Work is underway to transform Maceys Bar into "The Lords Chancellor" a traditional pub, with all day opening, a super food offering and warm cosy fires, opening Easter.

Sunderland - Jonny Ringos and Finos are set to become Ultimate's second "Chase" bar with 900 capacity and a 1.00am license plus all day opening. Work is underway now with projected opening mid April.

Rotherham - New York New York, purchased in October 2001 closed its doors for the last time in January 2002. 2.00am licensing has been granted for a 1200 capacity "Beach" club in the same style as the original opened in Sunderland in October 2001.

Bigg Market - Completion of the shell on the site of the old Binns building is on schedule with an expected hand over at the end of March 2002, and operational by August 2002 for a 1300 capacity first ever late license in this 100 year old famous drinking circuit.

Durham - Work is expected to begin in March on converting Durham Browns Boathouse into "Chase Durham" planning has been granted in December 2001

BFN

cymro

[mxds] 27/2/2002 00:32

I think its a good sign. Traditionally on result day the shares always take a knock as the speculation becomes fact.
Since ULG is holding up, its look good for the coming weeks.
Expect some big deals to go through soon once the price has settled.

Importantly, there are no significant sellers so far.

[cymro] 26/2/2002 22:08

Ultimate Leisure's northern pleasure
By Laura Cummings
Tue 26 Feb 2002


LONDON (SHARECAST) - Bar operator Ultimate Leisure is upbeat about future growth after a healthy performance in the first half of the year and securing a further £13m facility for expansion last month.ULG - Ultimate Leisure Grp

Ultimate currently operates 23 late-night bars and nightclubs, mainly in the North of England. The bars range from one-off sites such as Jimmy'z, Ram-Jam and Luckies, but also include the large capacity Beach and Chase bars.

Chief executive Allan Rankin says there is the potential to roll out both of these theme-led venues on already existing drinking circuits. Rankin added: "Our strategy is to identify a prime site in an existing market, and see what isn't being catered for there."

In the six months to December 31, Ultimate increased pre-tax profits by 24% to £2.6m on turnover up 25% to £10.4m. Rankin said: "We are still the leader of the pack in terms of net profit as a percentage of turnover."

Almost 90% of Ultimate's portfolio is freehold, and the group says it will always look for freehold sites where possible. Chief executive Allan Rankin said he expects a return on investment in a site of at least 25% and would be looking for at least 50% from leasehold properties.

The group has already secured a 650-capacity site in Durham which will become another Chase bar, due to open in the next financial year. A new site in Rotherham, with a capacity of 1,300, will become another Beach outlet and is expected to open in the autumn.

Ultimate has funded all its expansion for 2002 but secured a further £13m debt funding package from The Royal Bank of Scotland in January to continue its acquisitive roll-out. The group says all its sites are profitable from day one, as a result of choosing sites on existing drinking circuits.

Sites in Nottingham and Rotherham acquired in the period are the group's first steps away from its original North East base and further sites in the North of England are now being sought.

Late licences are becoming an important commodity in the sector and proposed changes in licensing hours will make them even more attractive. Rankin says the group will look for these wherever possible, describing the move as getting in on an important growth market.

Shares in Ultimate trade on a forward earnings multiple of just over 11 times, falling to nine times in 2003. This compares with rivals Yates Group on 11 times and SFI on 10.7 times. Fellow AIM-listed Inventive Leisure, the vodka bar operator, trades on a multiple of 18 times, falling to 14 times.

However, Ultimate has higher margins and return on capital than a number of its peers - its operating margin in its last results was 30.3%, compared with Yates's 11.9% and SFI's 19%. Ultimate's ROCE (return on capital employed) is 16.5% against Yates's 10% and SFI's 14.4%.

cymro

[cymro] 26/2/2002 22:08

Ultimate Leisure's northern pleasure
By Laura Cummings
Tue 26 Feb 2002


LONDON (SHARECAST) - Bar operator Ultimate Leisure is upbeat about future growth after a healthy performance in the first half of the year and securing a further £13m facility for expansion last month.ULG - Ultimate Leisure Grp

Ultimate currently operates 23 late-night bars and nightclubs, mainly in the North of England. The bars range from one-off sites such as Jimmy'z, Ram-Jam and Luckies, but also include the large capacity Beach and Chase bars.

Chief executive Allan Rankin says there is the potential to roll out both of these theme-led venues on already existing drinking circuits. Rankin added: "Our strategy is to identify a prime site in an existing market, and see what isn't being catered for there."

In the six months to December 31, Ultimate increased pre-tax profits by 24% to £2.6m on turnover up 25% to £10.4m. Rankin said: "We are still the leader of the pack in terms of net profit as a percentage of turnover."

Almost 90% of Ultimate's portfolio is freehold, and the group says it will always look for freehold sites where possible. Chief executive Allan Rankin said he expects a return on investment in a site of at least 25% and would be looking for at least 50% from leasehold properties.

The group has already secured a 650-capacity site in Durham which will become another Chase bar, due to open in the next financial year. A new site in Rotherham, with a capacity of 1,300, will become another Beach outlet and is expected to open in the autumn.

Ultimate has funded all its expansion for 2002 but secured a further £13m debt funding package from The Royal Bank of Scotland in January to continue its acquisitive roll-out. The group says all its sites are profitable from day one, as a result of choosing sites on existing drinking circuits.

Sites in Nottingham and Rotherham acquired in the period are the group's first steps away from its original North East base and further sites in the North of England are now being sought.

Late licences are becoming an important commodity in the sector and proposed changes in licensing hours will make them even more attractive. Rankin says the group will look for these wherever possible, describing the move as getting in on an important growth market.

Shares in Ultimate trade on a forward earnings multiple of just over 11 times, falling to nine times in 2003. This compares with rivals Yates Group on 11 times and SFI on 10.7 times. Fellow AIM-listed Inventive Leisure, the vodka bar operator, trades on a multiple of 18 times, falling to 14 times.

However, Ultimate has higher margins and return on capital than a number of its peers - its operating margin in its last results was 30.3%, compared with Yates's 11.9% and SFI's 19%. Ultimate's ROCE (return on capital employed) is 16.5% against Yates's 10% and SFI's 14.4%.

cymro

[welshanalyst] 26/2/2002 21:06

Positive report on www.sharecast.com (17th article down on front page).

[welshanalyst] 26/2/2002 21:05

Positive report on www.sharecast.com (17th article down on front page)

[user] 26/2/2002 11:12

wow, I'm overwhelmed by the market's interest given that the results were excellent!

Al.

[welshanalyst] 26/2/2002 07:58

Thanks for the early post.

[tvsound] 26/2/2002 07:20

ULTIMATE LEISURE GROUP PLC

Interim Results for the Six Months to 31 December 2001

Ultimate Leisure Plc ("Ultimate") is the rapidly growing latenight bar and
nightclub operator which currently owns and operates 23 latenight bar and
nightclub venues, primarily based in the North of England.



• Turnover increased 25% to £10.4 million (2000: £8.3m)
• Pre-tax profit up 24% to £2.6 million (2000: £2.1m)
• Earnings per share up 23% to 10.7p (2000: 8.7p)
• Interim dividend up 11% to 1.50p (2000: 1.35p)
• Established estate continues to perform well
• 1 late licence venue opened with 1300 capacity
• 2 trading sites acquired and 2 development sites obtained



Allan Rankin, Chief Executive of Ultimate Leisure Group Plc commented:

"Yet another period of sustained growth with all objectives met. Turnover and
profit before tax have increased by around 25% with no evidence of pressure to
gross margins or to the bottom line.

"With a strong pipeline of selectively acquired sites, coupled with a robust
performance from our existing estate, we have every reason to be excited about
our prospects for the coming year."

[mxds] 25/2/2002 21:35

Not to mention that they have a large freehold property portfolio.
They are probably very asset rich in which case they are probably at risk of being bought out by the bigger players.
In order to keep their jobs the directors had better spend the cash.