Stock data
| Market cap. | £14.9m |
| Last close | 63.00p |
| High / Low (52 weeks) | 96.5p / 63.0p |
| Stock market listing | FULL |
| Forecast net debt (£m) | 23.7 |
| Forecast gearing ratio (%) | 175 |
| Team | Industrials |
| Sector | Automotive Retailers |
Price performance
| % | 1m | 3m | 12m |
|---|---|---|---|
| Actual | (5.26) | (13.1) | (34.72) |
| Relative * | (9.77) | (18.88) | (32.61) |
* % Relative to local index
Other companies covered in sector
| Eco City Vehicles | Inchcape |
| Lookers | Pendragon |
| Vertu Motors |
| Y/E Dec | Revenue (£m) | EBITDA (£m) | PBT (£m) | EPS (fd) (p) | P/E (x) | P/CF (x) |
|---|---|---|---|---|---|---|
| 2009A | 125.4 | 0.1 | (1.3) | (4.4) | N/A | 0.8 |
| 2010A | 154.0 | 3.6 | 1.7 | 5.5 | 11.5 | N/A |
| 2011E | 193.0 | 3.6 | 1.5 | 4.6 | 13.7 | N/A |
| 2012E | 225.0 | 3.8 | 1.5 | 4.6 | 13.7 | 5.1 |
Last updated on 09/12/2011
Latest research
Delayed deliveries
Update | Automotive Retailers | 07/11/2011
The new strategy
Outlook | Automotive Retailers | 25/08/2011
Bentley acquisition
Flash note | Automotive Retailers | 01/08/2011
Back on course
Update | Automotive Retailers | 01/04/2011
New chief executive
Flash note | Automotive Retailers | 08/09/2010
Motoring again
Review | Automotive Retailers | 02/09/2010
Strong recovery
Update | Automotive Retailers | 21/07/2010
CEO steps down
Flash note | Automotive Retailers | 06/05/2010
Return to profit in 2010
Review | Automotive Retailers | 20/04/2010
Good final quarter
Update | Automotive Retailers | 06/01/2010
Steadily improving
Review | Automotive Retailers | 24/09/2009
Still very tough
Update | Automotive Retailers | 09/07/2009
Investment summary
The appointment of Joe Doyle as CEO involves a seamless change; he is leading the implementation of the strategic review of operations published during in May. Recent positive developments include the new atelier with Ferrari at the Berkeley Hotel and the acquisition of a regional Bentley and Aston Martin dealership. We have edged our targets lower following the autumn IMS, which highlighted a slowdown in demand in October and continuing doubts about the timing of deliveries on new product introductions.
Last updated on 09/12/2011
Industry outlook
City sentiment towards the motor distribution sector remains cautious. Fears about next year's trading are becoming more prominent, overshadowing the action taken by leading retailers to build their downstream activities. SMMT forecasts suggest little change new vehicle registrations, although the retail content is falling to the detriment of margins. Profits are under pressure in the short term, but this often provides acquisition opportunities for the larger groups.
Last updated on 09/12/2011
Key management
| Jon Walden, Chairman |
| Joe Doyle, CEO |
| Mike Warren, FD |
Company address
| Melton Court 25 Old Brompton Road London SW7 3TD United Kingdom +44 (0) 207 245 1122 View website |
