Bill1703
11 Sep 2017
Re: at 34p is results delya a good sign??? Last year may have been unusually early... previous two years, FY results were out in the last week or so of Sept?But still... no reason not to hope for something positive!
thirty fifty twenty
11 Sep 2017
at 34p is results delya a good sign??? I would have expected the results to be out by now given the date of last year's.of course it is a guess but I think logic steers that the delay is more likely to be because they are organising some piece of corporate action - i.e.re pension,or surplus FH,or investment propertyor excess CASHso the delay leads me to be more optimistic when the RNS is out.time will tell....All IMHO, DYOR + BoLAIEA is in my top 5 holdings
mnamna
26 Jul 2017
Re: good read over from Victoria results Yes I think AIEA has been an 'obvious' target for VCP for quite a while and the lack of approach must mean something. I can think of a couple of possibilities.AIEA is currently trading on around 11x its historic earnings of 3p per share. VCP would need to pay quite a premium to persuade shareholders to relinquish their shares? The price might be too rich for VCP's scaling up model? They have had easier pickings elsewhere thus far? I used to hold VCP but haven't for some while. I sense that the 'new' VCP has been able to buy a number of small companies which have been run inefficiently at cheap prices? AIEA has spent years and invested to make itself much more efficient - so there's no easy gain for VCP here?AIEA has a rump of shareholders from the old Sirdar days who are not too concerned about selling apparently. Plus there are still potential property development gains in the background if I remember rightly. No point in VCP showing its hand only to fail? They may be waiting to see how things pan out and whether AIEA stumbles along the way,cheers
thirty fifty twenty
25 Jul 2017
good read over from Victoria results VCP results today as very positive which means trading at AIEA should be solid.VCP also talks re the benefits of efficiencies and the lowest cost producres which is what AIEA also acheive. At face value AIEA would seem to be an obvious take over candidate for VCP but i presume there is a reason that has not already happened.All IMHO, DYOR + BoLAIEA is in my top5 hldgs
thirty fifty twenty
06 Jul 2017
Re: Hard to Buy that's good thinking re the ISA transfer. it was small amount but the point still valid.maybe that's why not able to buy if a few people have had the same thought though why the MM don't just just they job for 10k of shares and then move the price up 2p - its hardly going to break their bank even if they do close out at a small loss and IMHO if anything not having shares to trade just puts people off trading altogether.Anyway, a second thought is that maybe the FD only has limited window to do that transfer so we could still get a lower price before the next results.Anyway hopefully the company specifics strong enough to over come any general marke turbulemnce.All IMHO, DYOR + BoLAIEA is in my top5 hldgs
mnamna
06 Jul 2017
Re: Hard to Buy thanks for the info.I last bought AIEA on 1st March 9655 shares with no difficulty. I didn't try today as I wasn't at my computer but I couldn't buy a similar number of shares through the same account for the last couple of days.I don't need anymore shares - it's also one of my largest holdings - I was tempted to top up after the recent rns for the wife ot the FD xfring shares into her ISA. Why? It might be for the tax free dividend payment but any old high yield share would do that. I think its more likely a 'bed and ISA' to crystalise existing gains for cgt and put future gains into the tax free wrapper of the ISA. So if the wife of the FD thinks its worth putting into an ISA I thought I'd follow suit with a few more shares. I'll try again next week. Happy to wait for a down day and get them a little cheaper into the bargain,cheers
thirty fifty twenty
05 Jul 2017
Re: Hard to Buy similarly I bought some more at the end of last month with no difficulty.I think its fairly tightly held so you can just get lucky on the day.All IMHO, DYOR + BoLAIEA is in my top5 hldgs
mnamna
05 Jul 2017
Re: Hard to Buy Ooops sorry,that was supposed to be 10,000 and 5,000 shares !lack of connection to brain and finger. Don't know what the normal market size was - I suspect around 3,000 but I'm not sure I can be bothered - I'll wait for a down day?cheers
Our Haven
05 Jul 2017
Re: Hard to Buy I put through a larger trade but did not realise there was any shortag
mnamna
05 Jul 2017
Re: Hard to Buy Thanks for that, I will keep trying. I was trying to buy around 1000 shares and also tried 500 this morning just to see, but no luck,cheers
Our Haven
05 Jul 2017
Re: Hard to Buy Odd mnamna, I had no problem buying 10 days ago and it was showing a tight spread at the time.
mnamna
05 Jul 2017
Hard to Buy Been trying to add a few more but finding it hard to buy at the moment?
TX2
21 Feb 2017
Re: Results Weak sterling will help the company in terms of exports in that their added value will be cheaper although more expensive imported raw materials will push up UK prices although they will still have a competitive advantage over imported carpets than previously.But obviously demand generally for carpets/floor coverings is the key factor.Higher interest rates should benefit pension valuations;so prob as you indicate at a max low point now.
dokp
21 Feb 2017
Results The pension situation seems to be under control but they seem very cautious about the outlook for both domestic and europe. Weak sterling now seems to be a short term issue and their Brexit crystal ball isn't working. This won't be sorted for some time and I can't see much upward movement till they sound more positive.
Bill1703
09 Sep 2016
Re: analysis of results at 32p Some good observations there TFT, thanks!I too hold AIEA - from the old Sirdar days, and I agree there is much to like in these figures - and the management execution which they infer. One minor gripe - I would like slightly more detailed disclosure with the results statements.These figures and @ 29p SP puts the stock on a 5.2% divi yield, c.10x PER, 5.8x EV/EBITDA and a whopping 16% FCF yield (though I doubt last year's free cash generation can be sustained - but still, the underlying picture is still pretty healthy).If you take the pension situation out of that picture, you can easily get to an equity valuation for the operational business of £20-25m, on pretty undemanding assumptions. In other words, the market is currently discounting £8-13m (at least?) for a pension liability currently valued below £7m.Ultimately, it comes down to your view on pension deficits - as a long term, value-orientated investor I am more relaxed about them than some, as I have been posting already today on another board, but I concede it is a big uncertainty you'd have to be prepared to live with.I am not diving in for more quite yet, but they look a bit too cheap still and I will be following with interest.
