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https://www.ft.com/content/99a3e964-ef97-49f8-a574-2f49e63a9245
FT are correct , generated cash of over 12p per share this year, p/e looks to be about 3 or 4 and assets exceed sp by some margin. Expecting a significant sp rise here today and beyond.
£82million profit. 390 million shares. Is profit not over20p/share? P/E about 3.4 based on yesterday’s closing price of 70p?
bj, agree = sp should be over £1 imv - we shall see.
Yes great result as expected.
If you don't buy this share, you have to seriously ask why you would buy any share.
And remember, they say they are going to exceed a profit of £82m, not just achieve it.
I was hoping that the announcement of the return of dividends, having already repaid all government covid support would have encourged ii investment - i suppose that could happen over next few days but disappointed with sp so far.
I would not be surprised if private equity have a look at this. Buy it, sale and leaseback of property and watch the cash roll in on almost nil outlay.
Patience! They haven't yet said how big a divi yet. Private equity is one possibility or maybe Cazoo if their plan doesn't quite work out. But - we'll be much better off if the shares creep beyond £1 before a buyer appears and offers a decent premium.
Agree, if we don’t get to 130p a share soon. Someone is going to take this over at a very low price of 110p or some ridiculous bargain of the century. Enterprise de value atleast 150p
I think that the majority of shareholders would take £1.10 currently. I bought in at 52p and so would be delighted. Just wish that they would get on with it and make an offer for the company
The motor sector will regroup to fight Cazoo and Cinch so expect consolidation. Constellation has 20% of Lookers, a top takeover target - enough to block a sale. Against that, though, they won't look at a bid of 110p from another party but would talk them up a long way before selling out. They don't need to do more till they cross 30% (which provides potential support if the price does drop far). So, this may turn out to be a strategic hold for them and a one way bet for long term holders.