This company is certainly catching the eye of Analysts and Tipsters. I have kindly borrowed this summing up of the company from an online associate and agree with his findings. This really is an undervalued company.

Car Clinic (JCR traded on AIM) – Market Cap 1.32million

Business

Company owns 12 accident centres. Was formerly a division of the Dixon Motor Group.

Opportunity

Profit of circa 700,000 at interim stage – Is a growing business, so every confidence that this performance will be matched in second half, generating 1.4million in cash profits for the group. As others have pointed out this would essentially put company on PE of 1.

Company does have debts, which will require servicing. Currently 2.25million, though repayment has been more than fairly structured and allows significant amounts of cash to be retained by JCR. I assume these monies will be used for bolt on acquisitions and possibly early repayment of debt.

From my various conversations with an existing large shareholder, and to a certain extent recent statements from the company, the debt will be repaid at the rate of 400k per annum. From my calculations, and conversations with various sources, net profits this year should be more than 600,000. Compare this to the measly 1.32million market cap. As I indicated above, this is ludicrously cheap. ( NB This figure takes into account costs of acquisition, associated legal fees, initial banking fees and initial repayments. Remember, the repayments begin in earnest, next year.)

Going forward however, annual profits of more than 1.4million can be expected from the group. I expect the company to beat this comfortably next year and to continue growing at pace. So in effect, I believe Just Care Clinic can deliver annual net profits of more than 1million – Remember this is net profit. (i.e. after repayment of debt)

Directors Buying

And why shouldn’t they? They obviously see the great potential here. The Finance Director, Chris Elton was formerly FD at Dixon Motors, but moved over to take part in the action.

The future

I expect the company will be more focussed on bringing in further contracts with insurance companies. When Just Car Clinic was part of the Dixon Motor Group, whilst profitability was obviously important, as the business wasn’t a core component of the larger group bringing in new contracts was likely seen as a problem rather than a chance to deliver greater profits. I suspect the management team, motivated by significant shareholdings, will be keen to bring in as much ‘big’ insurance business as they can. I expect the company to make an announcement to this regard within the next few months or so. This is based on nothing other than gut, experience and feedback from various sources involved in the industry.

Take a closer Look

Equitygrowth.net wrote a brief piece on JCR in its 7th February newsletter. Shares Magazine has also provided positive coverage of late. I do agree that the figures do appear too good to be true, that is why I encourage investors to do their own research. This stock is undervalued – FACT. I am confident these shares will do well in the coming weeks as more investors recognise the potential, whilst going forward this is excellent material in my opinion. This isn’t hype, this is all fact which can be confirmed with just a little time and effort. Shares are currently 10.5p offered. I cannot emphasise enough - JCR is one to have a look at.

Please DYOR.

A very Positive chart.

This ones still going strong and has a very positive chart in these markets.


Watch candidate (5 Mar 2003) [Auto] Help
Has risen 275% since the bottom on 4 Feb 2002 at 3.00. Is within a rising trend, which indicates a continued growth. Poor liquidity (traded 18% of the days, mean 0.20 mill per day) weakens the analysis.


DONT MISS THE BOAT.
GF.

I see that the active Trader and well known Author and broadcaster Malcolm Stacey is going to buy into this one again tuesday morning. Hes a big fan and not only that brings along the clout of his followers on sharecrazy site.



you can see from the chart that the price has broken through the ceiling of the upwards price channel, which usually leads to a further strengthening of the price.

Market cap of circa 1.5 milliion, Profit before tax at last results 4 week back 1.1 million.

This really is a growth story and a steal at this price. G

The only thing holding this back (apart from being off the radar of larger investors due to its tiny market cap) is the need for the company to pay off 5m debt (some over 4 years). 3m is a bank facility and 2m scheduled payments until 2008. Cash flow should do it so long as profit performance is managed (and the management appear to be on the ball and familiar with the business). It certainly seems a focussed business and I am strangely comforted by the fact the business is concentrated in the Yorks/Lincs area (even though I am a Southerner)!

Pre-tax profits may have been 1m+ under Dixon Motors' ownership but interest on the loans will reduce that considerably unless business grows quickly. Even so, I think this is one severely undervalued entity. I have put a few in my SIPP.

Just Car Clinics Group PLC
01 September 2003



FOR IMMEDIATE RELEASE 1 September 2003

JUST CAR CLINICS GROUP PLC

On behalf of our client, Just Car Clinics Group plc, we notify the London Stock
Exchange that the Company will be announcing its second Interim Results for the
nine month period ended 30 June 2003, which will include the first six months
trading for the newly acquired business, on Monday, 15 September 2003.


There will be an analyst briefing at 10.30 am on Monday, 15 September 2003 at
Buchanan Communications, 107 Cheapside, London EC2 followed by a press briefing
at 11.30 am.



For further information please contact:


Tim Thompson/Bobbie Swanson

Buchanan Communications Ltd Tel: 020 7466 5000

The fact that this announcement alone has caused a tick up shows how off-radar this has been!

Now up 48% in 3 days (to 26.25p) and not a smattering of interest from this board. Still, there is a few buyers and it's so tightly held you can hear the MMs squeaking :)

Looking at the chart I may wait till early next week..was very tempted on Monday to get aboard,but hung back for the same reason....thinking she would run out of steam or there would be profit taking.I am not usually a fan of penny shares or AIM stocks but its not a case of if...but when.Certainly think the debts can, and will be serviced, and think this one is one to tuck away.
Great thread by GF and heartiest congratulations.

WS many thanks for that. Results on the 15th and no share will rise 15 days on the trot, but I think we may see it down early in the morning presenting a buying opportunity.

From there on its just uphill to the results. They must be confident as they have called an analyst presentation on the 15th, and thats unusual for such a very small cap.

GF

Profit taking day to day guys, but watch these gems move in the morning.

Mid term target 53p.

GF.

FAIRLEY NEW TO ALL THIS ..JUST 4 WEEKS OLD.........SO FAR 2 GOOD ONES GXN AND LCI ( MAYBE GETTING TIRD SOON ?) ONE JUST WAITING TO STSRT GOING UP CHA AND ONE TOTALLY WRONG TIMMIMG TAL.

HAVE I SPOTED JUST CAR CLUBS TO LATE OR IS IT WORTH A 450 GAMBLE IF I CAN GET

ABOUT 27P OR LESS ON MONDAY.

ANY COMMENTS WILL MAKE UP MY RESERCH. I KNOW RESULTS ARE DUR LATTER THIS MONTH (JUST 2 WEEKS AND WOULD BE HAPPY WITH 10% + FOR A QUICK ONE OR = HOLD ON FOR A LONGER RETURN. I HAVE NEVER BEEN THIS CLOSE TO A RESULT AND A RISSING PRICE.

GRAEME

Still worth buying but wait to see if we have profit taking in the first few hours. Chart indicates 37p first stop followed by around 52p. Not many small companys like this call an analyst meeting on day of results so they must be pretty confident, GF.

Up 2p again and blazing away. Still plenty of time to climb aboard.
gf.

Thanks for the reply Goldfinger.The postings by you more experienced guys/girls are a great help to us new people. Graeme.

As Ive always said this company has a fantastic management and staff. Up now around 78% in the last 5 days but MORE to come. Results the 15th. Heres a recent article from the company showing its commitment to customer service.


3/9/2003
Great customer satisfaction record for Just Car Clinics
Just Car Clinics has pushed customer satisfaction to new levels in its first six months of business.

Of the 16,000 individual collision repairs carried out during this period, more than 99.9 per cent of repairs were carried out to the customer’s complete satisfaction straight away. However, all repairs were successfully resolved as a result of the excellent follow-up care and attention to detail shown by the Just Car Clinics team.

This impressive record bodes well for the company, which was formed earlier this year following a management buy-out of Dixon Motor’s collision repair centre chain.

Chief Executive Barry Whittles commented: “From day one customer service has been a priority for us and I think our record over the last six months highlights that. Whilst we are the second largest collision repair centre chain in the country, we are a new company and it is easy for people to forget that. However, I am confident on the basis of these figures that we are getting things right and we can build on these early successes as the company continues to grow and develop.”

A high volume of positive feedback from customers and insurance companies backs up Barry’s view that Just Car Clinics has made excellent progress in its first six months of business.

A recent letter from Fortis Insurance Limited, which was passed on to Just Car Clinics at the request of a satisfied customer, highlights the team’s ‘compassion’ and goes on to say: “The ability shown with such a difficult and uncommon repair was commendable.”


gf.

note Im in for the long term.

am i too late guys!!!?

well, this one has really taken off...

well done .. was thinking of buying a few weeks back..

luck all...

Nobodys too late on this one. Check the very low p/e and then look at how good the management are. Im adding again in the morning and this is one hell of a play, perhaphs no were near GXN, b ut its still a good one BUY.
gf

It's great to get all this feedback on JCR and GXN - 2 questions: anyone have a view on TGN? and secondly, will there be any problem selling JCR given that there's a limit of buying stock of around 5,000 shares? Am holding 40,000 and am thinking of getting more tomorrow.........

Have easily purchased yesterday a much greater volume than 5,000 shares in JCR. Perhaps your stock broker has a limit with the MM's on the size of transaction if you can only buy at this Qty. JCR is down today though probably because of FTSE's sentiments over yesterdays Wall St performance.

there are / were buying limits in place on this stock, at least there were yesterday....I managed to buy two lots of 12,000 at open but paid a 1p premium for the privalege, bought in at 35 when offer price was 34, wasnt to worried as managed to sell out again when it topped at mid way thru the day.....mm were / are controlling the market on this one. As for todays drop.....my whole portfolia is a sea of red but hey, tommorrow is another day!

There is a really good head and shoulders forming on this stock if you have a profit take it.Several years in the trade tells me that no one ever got rich repairing car bodies.Beleave me Dicksons would have been releived to get rid of their bodyshop side of the business.

ps.autumn and winter are the best time for body repair shops but if we have a mild winter it can be one of the worst.Also because cars have become cheaper more and more cars are righten off after an accident as uneconomical repairs so body shops dip out on cars that would have normally been repaired when car values were higher.

Well its good new for holders then because I can tell you that the London weather Centre are predicting a terrible winter.

Expect upbeat results on monday, the company must be very confident when a very small cap like this calls an analysts meeting.

gf.

What's happening with JCR?
Good results but a big dip - am holding a lot of shares - why the drop?

Cautious statement in my view. They say July and August have been worse than envisaged (which is not going to boost the share price). The company does rely mainly on the winter months, however.

I have sold for now simply because I don't see a lot of progress in the near term.

Hi Bones
Appreciate your response - think I'll sit on them as my break even is 31.5p - you can tell I'm new to all this! Also, as I have a lot of them ie 65,000, am concerned that I'll get screwed at launching that amount for sale - so my strategy (ho-ho) is to sell a little at a time when the price goes up - any opinion as to when that might be?
Thanks
Anna

Anna, that's a lot of shares! I got a poor price unloading a lot less today. Fortunately I had slipped a few out last week at 37p but clearly not enough!

There's only 2 market makers so any burst of buying or selling will cause exaggerated movements in price. The share should do well over the next year provided business is well-managed through the winter. I don't have the desire to hang on until March 2004 to find out.......

Good luck
Bones

Thanks again
Anna

Just Car Clinics given thumbs up by influential industry body 15/09/2003

An influential motor trade body has awarded all 13 branches in the Just Car Clinics collision repair chain a ‘good’ or ‘excellent’ rating following a recent inspection.

The MVRA Ltd is a leading authority within the industry and carries out over 5,000 quality assessments each year at more than 2,000 different collision repair centres the length and breadth of the country. To retain their membership, companies must adhere to a strict code of conduct in every aspect of their work, from customer service to promoting fair competition and business practices. All work must be completed to the very highest standard, whilst pricing structures and policies must be fair and emphasis placed on Health and Safety, and environmental practices.

Just Car Clinics, which has branches across the Yorkshire, Lincolnshire and Nottinghamshire region, was formed earlier this year following a management-led buy out of collision repair centres owned by the Dixon Motors Group. The company’s management team embarked on a continuous improvement programme at all 13 centres during their time as part of the Dixon Motors group and have been eagerly awaiting the results as evidence of how their efforts have paid off.

This week the team learnt that the Bradford, Doncaster, Grimsby, Lincoln, Mansfield, Scunthorpe, Sheffield (Woodbourn Road) and Wakefield branches were classed as ‘excellent’, whilst Hull, Leeds, Sheffield (Sutherland Street) and York all achieved ‘good’ ratings.

None of the branches were ranked in the lower MVRA inspection categories – ‘acceptable’ and ‘review membership’. The results are particularly encouraging given that Just Car Clinics is a new company and the management team have committed to a further three-year improvement plan with the MVRA to ensure that standards and quality remain high.

Chief Executive, Barry Whittles, commented: “To receive such a great set of results at this early stage in the company’s development is a massive boost for the whole team. We know that we are moving in the right direction and can now build on this early success and further enhance the level of service that we provide to our customers.

“I think it is largely due to the fact that, although we are a new company, we have a vastly experienced and committed team of people here. The results put all our branches among the very best performers in the country, which can only be good news for our customers, both insurance, members public ands fleet drivers. ENDS.

gf

Not much going on here either way.

GF.

Hi Goldfinger - just following you around - SPOOKY

Morning Linzi havent heard from you a while see you over on SC. Hows that ass wiggling going on?, must be the bike that keeps it fine tuned. Whoo, Im getting gooze bumps.
PS. Huddersfield is spelt with an H not a U.

PPS, have a look at Incite Holdings, could go a lot quicker than you on yer bike.

GF.

Back to top for long term holders.

GF.

GF -

Still holding JCR shares - 65,000 of them - so pretty gutted to see further drop - any reason that I've missed for this other than it being rated as a "seasonal" share - ie roll on the bad weather?

anyone still holding these? and if so, your views would be much appreciated

I don't hold.

JCR is just a little above my long term upward trending support line @ 20.6p (Tuesday). If it breaks down through that, the next support level is around 17.75p.

Good luck

Fly by Night

Red

Thanks Red, appreciate you getting back to me - will keep a close eye - Goldfinger seemed to think that JCR undervalued and will do OK with increased work in an anticipated bad winter so we'll see - thankfully am holding PDX, GXN, and INC too so it could be worse......

Looks very undervalued. Not too many profitable companies with this sort of turnover and a market cap under 3 million. One to tuck away.

Up to day.

gf.

JCR has done it's thing & tested the 17.75 support.
It's now hovering between that & the resistance line (It used to be a support line, crazy stuff this TA ;-), an upward trending line moving up towards 22p. So many got burned, (see the volume on 7 th October) that, undervalued or not, it may take some time to retake those heights!

It would be incorrect to say the indicators look positive but they certainly don't look as negative as before & IMO look "hopeful"!

Good luck

Fly by Night

Red

Is the JCR catchment area getting any nice horrid weather yet?

Does anyone know which insurance companies JCR is hoping to sign to.They may have approvals from varies companies,but there are a couple that make a real difference.(what ever the weather)I am awaiting on announcements before taking a dip in again.

Sadly this one has been ramped to 40p & it back where it should be.

The debt & interest rate rises have been overlooked.

How much do they owe, isn't it about 8.5m, add the interest rate rises momentum & that's why it's going nowhere in my opinion.


It would be very cheap if it didn't have the high gearing which could cripple it. A p/e isn't to be looked at on it's own ....always check the debt.

MP this is the list and they are signing new ones by the day. Just a word about the previous poster, hes a well known de-ramper/idiot/trouble maker, known on most of the boards. Best to just ignore him.


JCR insurance approvals:

- AA Accident Management
- Admiral
- AXA
- Bell
- Broker Direct
- Budget
- Carole Nash
- CGNU
- Churchill
- CIS
- Diamond
- Direct Line
- Equity Red Star
- Fortis
- Green Flag
- Hastings Direct
- Leasing Group
- MMA Insurance
- Motability
- MVRA
- NIG
- Pearl
- Privilege
- Provident
- Prudential
- Royal Sun Alliance
- Saga/Groupama
- Tesco
- VMS Fleet Management
- Zurich

Just thought I'd save you all the bother of digging it out of their website.

Pretty impressive, I think.

Cheers GF.

You didn't answer the question goldfinger, surely your case will strengthen if you can tell us it will no effect?

A very impressive list of insurance co's who provide JCR with their work and you can see why. Cheers gf

Although JCR is a new company they are not novices at their business but advanced due to some very experienced management and a highly qualified & motivated staff that has rapidly earned its industry and press accreditations to deliver an award winning quality service and customer satisfaction. The interesting thing also is they are accredited with car manufacturers who provide training & support for JCR's staff to rebuild / repair / refurbish any of their range of cars. A great assurance for the insurers.

Certainly are legins, a very impressive list and being added to.

cheers GF.

ps, ThirdEye Squelched, a well known de-ramper and trouble maker on all sites. I suggest you also squelch him. Also reported to board management.

I'll ask my fair question again.


What effect will interest rate rises have on JCR's huge debt?



Let's face it, everyone is called nasty names when you get a question you don't want to hear.

I do not think the debt is a threat so long as profit expectations are met over the four-year period during which the main 3m "premium" loan is to be repaid from cash flows, as stated by management/prospectus. However, the interims included a warning that business was quieter than forecast in July/August due to the exceptionally hot weather. Since then we have had an exceptionally warm/dry September, October and half of November with barely a day or two of bad weather. That equates to far less accidents on the road. I would be amazed if the full-year results do not reflect a continuing quiet period below expectations.

That is not to say the company is not fundamentally cheap on a four-year view. Nonetheless, I do not see this share going anywhere for a good while, at least not until the company shows it is meeting its own profit and cash flow expectations. Normally, I would buy at 17p but I fear a profit warning in early 2004 which keeps me away for now.

A very reasoned opinion bones, much respect for your views and civil presentation.

Only time will tell.

cheers GF.

Thanks Bones, can always count on you for a civil response.

i think all car bodyshops taking hit by good weather.
my neighbour he is a sparky car mechanic and he stays at home
recently. jcr good firm, good accounts and will have good
and bad year. debt finance no problem, bank will look after
them.

Thanks for the list gf The good news about this list is that they have all the best players and two of them are very hard to get.If you compared this list to a fishing net the holes would be very small so hardly any fish would escape from your net in your area. So if you go for a swim in their area and have an accident you will end up in their net.On finance they would have got a flexible type of a aggreement because of the nature of the business.The business structure and set up they do have gaurantees their growth because smaller operators are being sqeezed out under ever tightening enviromental, health and safty legislation and the increasing need to provide higher standards.Which means investment in better training and high tech equipment They would have no trouble servicing their debts even if interest rates do go up further, besides we will never see double digit interest rates ever again so whats the worry.

Well its very nice to have reasoned opinions. God help us if we were ever to go down the adfvn route.

cheers Gf.

After buying the shares recently i frequent this page to see whats being said.
why all the talk today?

I dont know what other people think but i do find ADFVN a very hostile place to visit.I find a lot of the postings sometimes crude and totally irreverlent and any one new trying to give an apinion is made to feel very unwelcome.

Spot on MP. Homebase a very unwelcome visitor came on this site earlier on, one well known on other sites for his de-ramping and spoiling tactics. I have squelched him and reported him to management. Please take a look at the earlier thread. Word of warning on this guy, please dont get involved.

cheers GF.

Why have you reported him to the management? I don't see anything nasty in his post.

Kayak, no you wont at the beginning, he always starts off this way ( comes the innocent etc ), but further down the line the devious man starts his spoiling tactics. People new to investing get sucked in. Best to squelch him out.

cheers GF.

Kayak, GF appears to be a little paranoid at the moment as I can see nothing nasty either.

With regard to JCR, I made a few pounds in early Sept with this one, only to lose it again by not getting out quickly enough. Greed. I would not want it now as I feel there is better to be had elsewhere before Christmas.

Brought to the top for Bears and bulls to debate.

cheers gf.

Given that I see these shares are now at 13.5p, and have fallen from 40p on no change of stance from the company, any setback (and there is no reason to believe there will be one as winter is their busy time anyway) is already in the privce. Bargain hunters, step forward!

The fall back as taken place on very light volume aswell. Think you could be right that this one is looking very cheap.

gf.

Bought just a few today at 13.75

There were no reported trades when mine went through, and it didn't appear until 90+ minutes after I traded, and shows up as a sell.

All very tempting I have to admit, but.....I feel it will drift until we have some update from the management about the impact of the "good" weather. After all, management started it off by commenting about it! If the market makers stick it down below 10p, I will certainly be in for some!

I think the full year results are due out before Christmas, around 16th, remember this is only a three month second "half" due to new financial year end. So it will reflect Aug and Sept, when things were quieter. Of far more interest than the number will be the outlook statement. Unless market as whole turns down sharply can't see 10p.

GF - "The fall back as taken place on very light volume aswell. Think you could be right that this one is looking very cheap"

Should I be buying at these levels? Are you investing more Oliver? Actually the volume was above average when they fell - does this mean anything?

Bones, to sell them at/under 10p they have to find some before......
I believe that most of those who are still in now are long holder

Yesterday the MM tried a treeshake but very little result, My brokers
left me a message (I was in a meeting most of the day) if I wanted to sell 10K
at 13p when the bid was at 11p (that is why I think there isnt many available) see the post 65 that say everything....
and strange enough who realised them? A friend of mine because wanted a spare cash(so he told me in the evening)
otherwise.

Any way you have done well with JCR..
Good luck to you again

Ciao

Ciao, thanks. I'd also be surprised to see a drop down to those levels, but with 2 MMs, anything is possible!

Hawick, the year end is December, and is a 15-months period. Check the company's statements. Results will be in March or thereabouts.

OK Bones. Sure I read something on the interim statement, thought I saw it on FTSE calendar too, but must have recorded it wrong. Fair enough, thanks.
A delayed trade of 300,000 this morning. Hope that has cleared what I have long suspected to be an overhang. Guess we will find out next week if price starts to recover.

Just heard that Just Car Clinics as been tipped by the Penny Share Focus in its 2004 yearly portfolio. Good news indeed. Rumours abound that the companys trading is now back on track after three dreadfull weeks of weather in the Yorkshire area.

cheers GF.

Happy new year GF! And no, I didn't get plastered

Great news on JCR as this was one of my early mistakes in that I bought too much - started buying at 18p but carried on adding and ended up averaging 31.5p - learning all the time
Regards
Anna

Nice to see you on the board anna. Fingers crosses JCR will move up on higher from here. Good look with your investments for the rest of the new year.
Loads of money.

cheers GF.

Thanks and same to you (altho I think you need luck less than me!)

question for you guyz. Any off you guyz have a percenage holding in "JCR" ? (1% being 112,560 shares)

Yup Mitch 1967 I do.

cheers GF.

same here gold finger

just something i wondered a do with a few companies on here.

Was just a power angle that went through my mind together on some compaies we must combined have some power

Certainly taken off today up over 20%.

cheers GF.

Hi GF
Feel grateful that JCR is looking good - another site thread says that JCR is "share of the year 2004" in City Confidential :-)
Regards
Anna

this is a big jump on little volume.I wonder if there is news in the pipline and MM are after stock or are just playing games.I know the weather is bad and buisness will be good but it will still take a bit more time to catch up for the lost trade in the summer.
Anyone know anything not out yet?. Graeme.

PS Anyone know who/what/reputation of "City Confidential" as never heard of it?

http://www.cityconfidential.co.uk/

Caveat emptor with tipsheets. Who knows whether some connected people have been buying in the last few days ready to sell on the tip mark-up. JCR is an ideal candidate.

City Confidential has an absolutely superb track record, having picked unfancied stocks like Character way down low. JCR also in Penny Share Guide#s 2004 portfolio. Despite being a micro cap really getting noticed now. JCR is a really solid little business that keeps delivering IMHO.

hawick - I agree that JCR is a solid business (albeit there is the open question about business volumes during the unusually dry and warm Aug - Nov period (see interim director comments). My point was about tipsheet effects on illiquid stocks. Also, in the last year, it would have been difficult not to have tipped a winner!

Anna cheers, city confidential has been around for a long time and as a good reputation. Please remember JCR is mainly based in the Yorkshire area, and the weather up here as been terrible over the last month plenty of ice, fog, sleet rain etc.

There have been rumours doing the rounds that JCR are now back on track after two quite months in the summer and perhaps these tip sheets know of that.

Anyway its a nice return to form for the share and Ive added yet more this morning.

cheers Gf.

Hi all even here (Italy) there are car crashes with nice weather (except in the mountains snow etc..)...... bad drivers are in any weather!!!!.....

Good managements,good staff training scheem, excellent service and a good PR with Insurances (as someone said).... all those are as good assets as anything else......

Just a thought.....

Ciao

They should open up a branch in Paris, I've never seen so many bashed-up cars - Winter or Summer!

Some good posts here.

I am 52 years young, been investing for over 30 years and made good and bad decisions over the years, but usually outperform the mnarkets, its easier when you don't have company rules, regulations and customers/shareholders to deal with! I recall this stock went up to 39p just before the latest results. Could easily top 35p plus again, although interest rates may have an adverse short term affect. My personal view is this is a good medium long term investment that should outprtfom all indices. it is a no brainer to hold on for further growth imho. Good luck current holders!

I was told that there are only 12.864million shares in circulation. Is this figure correct?
Cheers!

Up again this morning after profit taking. Never be afraid to take profits in this one as it is a little volatile devil.

cheers GF.

RNS Number:1111U
Just Car Clinics Group PLC
12 January 2004


For Immediate Release 12 January 2004

Just Car Clinics Group plc

Just Car Clinics caps successful year with top awards

Less than one year after a buy-out and amicable takeover of Dixon Car Clinics to
form Just Car Clinics, the second largest collision repair centre in the
country, Chief Executive Barry Whittles has led the company through a very
positive first year. The company's efforts were rewarded when it won a number of
industry awards.

2003 ended with a great accolade for the company when in December Just Car
Clinics Wakefield branch came out top in an assessment of more than 260
collision repair centres nationwide carried out by insurance company AXA. The
branch was scrutinised closely in the final stage of the competition against the
very best in the country.

September saw the influential motor trade body MVRA Ltd. award all 13 branches
in the Just Car clinics collision repair chain a 'good' or 'excellent' rating
following a recent inspection.

At the annual Bodyshop awards - the industries equivalent of the Oscars - in
June Chris McGowan of the Grimsby branch took the Panel Technician of the Year
whilst Shaun Garth also of Grimsby came out top in the Paint Technician Of The
Year category.

Barry Whittles commented: "We have achieved so much in our first year,
Wakefield's recognition by AXA is the icing on the cake. 2003 has been a
remarkable year for all involved in Just Car Clinics. To watch the company go
from strength to strength and to be acknowledged for our hard work and
achievements by leading authorities within the industry is fabulous. Hopefully
2004 will see the company rise even higher".




For further information, please contact:

Just Car Clinic Group plc:
Barry Whittles, Chief Executive 07850268369




This information is provided by RNS
The company news service from the London Stock Exchange

END
NRABTMTTMMBBBII

Hi...I think I saw a comment on this board by GF that the share price of JCR was volatile!...Not aware of no of shares in circulation but have noted sharp gyrations in last week of the price including 33% rise in one day followed by 10 % downward movement.
Any idea when it may settle down?and poss move upwards on what is a well based and funded business in a fragmented sector,with no brand image.
Regards Wansford

Wansford, I think the next results will have to be out of the way until we see this one settling down. It could even top its high of 41p very quickly but then again it could fall from here. My bet is that for the time being around the 30p mark is the correct valuation.

cheers GF.

This little monster could turn out to be the share of the year,then again?????????.

Cheers GF.

Big freeze & snow forecast for next week as far south as Dorset. How will this effect JCR's share price - upwards movement is on my forecast as bad weather = more road accidents!

Good point, although is this a popular enough stock for this to make a difference until JCR release any statements?

In 1st thing this morning at 25.75 having dipped in before and taking healthy profit..QUALITY management/company.
Good Luck to all holding

Problem with this share is sliding margins to 3.2% & the heavy debt until 2008 (both schedulded & other)

I'd like to see 1m pre-tax profit for it to be fair value at the current price.


Mild weather until this week also hasn't been in it's favour...see interim statement.

Not impressed at 1p options that were issued way above the share price at the time....anyone know why the Directors didn't see fit to issue them at the share price at the time, instead of making them so much skewed in the directors favour & against investors as it will dilute their eps?

Please remember board posters ThirdEye as had a warning from the board administrators and is being carefully watched.

Just Car Clinics Group PLC
16 March 2004

Perhaps some should listen with what ThirdEye has to say see today's announcement:


16 March 2004


JUST CAR CLINICS GROUP PLC

OVERSTATEMENT OF HISTORIC RESULTS

As part of the pre-audit review of its maiden annual results, Just Car Clinics
Group plc ('the Group') has identified a significant overstatement of trading
results in three of its twelve locations. The Group instructed the forensic
division of its auditors, Ernst & Young LLP, to conduct an investigation, in
conjunction with management, and their report has now been received.

The investigation confirms that in 2003 the EBITDA and pre-tax profit of the
Just Car Clinics business, which was acquired by the Group in January 2003, have
been overstated by approximately 370,000. This reduces the Groups' estimated
pro-forma pre-tax profit for the year to 31 December 2003 to approximately
break-even, before taking account of the costs of this investigation. The
investigation has also confirmed that net assets of the business were overstated
by approximately 400,000 at 31 December 2002 and indicates that the
pre-acquisition results for the year then ended were also overstated.

The Group's first published accounts will be for the 15 month period from
September 2002. As previously reported, the accounts will incorporate a loss of
124,000 recorded for the first three months relating to internet based
retailing, the former activity of the Group. All amounts are subject to any
matters arising from the statutory audit by Ernst & Young LLP currently
underway.

At this stage in the investigation it appears that the overstatement has arisen
as a consequence of deception by one of the Group's four accountants, who has
since been dismissed for gross misconduct. In the Board's view, whilst the
misconduct was deliberate, there is no evidence at this stage that it was
motivated by personal financial gain. The deceit took the form of numerous
artificial journal entries inserted into monthly accounts for three of the
Group's locations, for at least the past two years. The deceit was identified by
the Group's Finance Director, as part of his pre-audit review. The degree of
complexity used by the dismissed employee has made the investigation difficult.
The investigation is continuing and the possibility of theft for personal gain
has not yet been fully ruled out. However, the amounts concerned are not now
expected to change significantly from those indicated.

IMPLICATIONS AND ACTION TAKEN

As a result of the restatement of the financial results following the
investigation breaches of certain banking covenants with the Group's principal
lending bank have arisen. The bank has confirmed its willingness to re-set the
relevant covenants and revised documentation will be completed in due course.

A full and detailed examination of the current and historic results for the
Group's other nine locations has been undertaken by management. No other issues
have been identified. Accordingly the Board is satisfied that this matter
relates solely to the three locations reported on by the former employee.

Finally, the Board has instructed its legal advisers to advise whether the
discovery of the overstatement of the opening balance sheet could give rise to a
claim against the vendors of the business under the terms of the acquisition
agreement dated December 2002.

CURRENT TRADING

During 2004 the Group has been profitable and continues to be cash positive.
Management accounts show pre-tax profit for the first two months of the current
year to be at forecast levels, and early indications for March, traditionally a
major trading month, suggest that it will also be in line with managements'
expectations.

PRELIMINARY ANNOUNCEMENT

The Group's maiden preliminary announcement of results is expected to be made in
April 2004, and the report and accounts for the 15 months ended 31 December
2003, are expected to be released before the end of May 2004

Commenting Barry Whittles, Chief Executive said:

'The Group is addressing the underlying trading problems masked by the false
bookkeeping. We continue to be cash positive and current trading is
satisfactory. The Board will provide a further trading update in the Preliminary
Announcement.'

With the heavy borrowings & breaches with the bank, these are a strong sell in my opinion, their debt repayment schedule has been seriously put back.

Guess some will think they are cheap, who don't check balance sheets & debt, I suggest you take a good look.

It does make you wonder, what is the point in checking the company balance sheet if you are thinking about buying a share?

Check the borrowings Scottie.....they would have told you that JCR is 'walking on a tightrope' as far as debt & repayments are concerned....it's so heavily geared.....I warned many times that this share lets say was being looked at through rose tinted specs with it's p/e of 1 ....see goldfinger/Oliverleftwingtit/Slaters post above.....if it's cheap, there is often a reason why.

Any reply to that gf?

Third Eye - yes, you have been sceptical on the basis of published debt. However, it is the unpublished stuff that is the problem today. As investors in SUF also found out, if the accounts themselves are in fact baloney, then all you can do is pray.

Fortunately, I made my profits last September and sold on the results which contained cautious comment. Looks like I escaped!

Bones

Well done Bones

But I made the point, you can't slip up with such debt, there is no cushion for comfort, if the balance sheet wasn't so ropey, the company would have been able to take it in it's stride.

Nice try thirdeye, but unless you have a crystal ball and can predict the future , especially the future of a CORRUPT ACCOUNTANT I suggest you stick to upsetting posters on whatever site you go on other than here. Lets face it you have just been barred from posting on UQ.com after the management found you to be say less holy than holy and then lets not forget Ians warning only a few weeks back, on your last life I see...............


IanT(MoneyAM) - 02 Feb'04 - 09:10 - 107 of 110


Thirdeye,

With regard to your posting, as you have have been warned previously - please only 'attack' companies and not individuals. Please treat this as a final warning.

Regards

Ian ENDS.

Perhaphs if you put a little more effort into posting on Money Am and not just spoiling tactics people would take far more notice of you and your comments.

There are of course always two sides of a coin to a debate like this but thirdeye does himself no justice by failing to neglect that this was the work of one fraudster, and yes one fraudsster who should have been found out, but in real life its not that easy as any financial Director will advise you.

Seems a shame that every post thirdeye puts on this board is a negative one and is aimed at my person as a grudge attack. This is not Advfn and this sort of thing is best kept away from here. Its horses for courses thirdeye as Bullshare as said before. If you want a slanging match I will be quite happy to see you on advfn, otherwise why try and stir up trouble here as you have done not just on advfn but two other sites.

cheers GF.

ps, posters please try and keep this kind of thing away from money am. This is an excelent site and we surely dont want it going down hill. Yes nothing wrong with free speech , but then always keep in mind the posters true motifs.

Well I taken note of that Goldfinger, but I want to talk about JCR, you seem to want to divert attention.


I repeat high gearing upto 2008, gives no cushion for any hiccups, that was my foresight.....had they had sensible gearing, this affair wouldn't matter so much, but now there is a chance they could go bust.

Good call ThirdEye. It was your confirmation of the debt position that kept me out of this one. Phew!

Cheers.

Btw isn't your debt misleading ( you claim to be an accountant in your profile)in your opening post goldfinger?

Thanks Guitarist

I see my negative posts have been of use.

A measured reaction is required here. Third Eye's rather frantic reaction looks overly panicky to me.
Here are my thoughts:

This clearly was a pre-JCR/Bikenet problem.

However it IS disappointing, and there can be no denial of that, and it was not picked up during the changeover - someone should be answerable for that. The banks have clearly recognised that it is not the current management's fault, hence the seemingly amicable rearrangement of borrowings. That is comforting.

As i have always said one of the big strengths is the cashflow and that is why today's fall, while in part I accept, justified, is overdone and i reckon for the time being fair value is closer to 20p (market cap under 3 million - we must not forget at some stage when repayments are complete the company will have assets of 10 million or so), though sentiment quite naturally sees that it has plunged further short term.

And yes, as i have always said, if any company I hold has a 'major change' of circumstances - and they do not come much more major than this - I am always prepared to act and I have unwound part of my position today (despite all the rubbish talked about liquidity there were no problems, even on a bad day, unlike i have experienced on ofex for example at times). The rest is staying firmly put though.

However if the numbers as i fully expect have no other nasties, the investigation appears to be complete, the events are now historic (in the past) - crucial - and current trading, says the company, is fine, i anticipate after that I will buy back some of what I sold after results, but i want to be fully reassured first. I can see no reason why anything more should be uncovered, this has been properly and very fully investigated now and it is clear today's statement attempts to get all the sh*t out in a "oner" - probably the best way to handle things. Actually guitarist looks like Third Eye's post has cost you, up 40% from yesterday's low, hardly a dead cat! i first bought this at 9.75p.

Importantly, the company says it expects no 'material' other problems to be found, (if there was anything likely to be very minimal - zero and i mean ZERO, chance of this business failing) so although as with any loss it didn't show real performance, this impacted only 3 centres of 12 (now 14) further minimizing its real impact. Strong cashflow has clearly impressed the banks too. Remember the REAL value is somewhat hidden too here - ironically! When repayments are complete, they will have a nav of 10 million (current market cap 3 million). That is why long termers will be happy to ride this out and reap the rewards. Shown itself to be a tough little business nugget the way it has been able to take this on chin and come back fighting already.

However i would be surprised in this instance if more bargain hunters do not materialise before results and the chances are they will have made the right move. I am impressed by management's swift and full reaction to investigate.

My final comment is that it is disappointing of course, and the sort of thing that no amount of bulletin board discussion can reasonably foresee, otherwise every business in the world would suffer the same sort of speculation.

A

hawick, thankfully I had sold @ 28p as I felt at the time because of a previous weak trading statement there wouldn't be much upside if any at all untill just prior to next results and AFD was more tempting. Agree with your comments though and have it on my watch list as on next accounts the share price should begin to recover.

On the plus side for JCR, having read all the posts on other B&Bs including an excert from today's FT today, which finishes with

"But bold investors can occasionally make a killing on occasions like this. As a division of Dixons Motors, the company had turnover of 22m in 2002. The directors say the company was profitable in the first two months of the current year. But the market value at yesterday's close, was only 2m"

plus today's bounce, for now, I'm holding.

It would be great too to refrain from personal attacks and vendettas Third Eye -it appears to me that you only appear when you gleefully have ammunition to fire at GF - not interested in that - in fact, it's as a direct result of his input that I've made some pretty healthy profits - and it's not as if ANYONE (unless you had a crystal ball?) could predict a crooked accountant tarnishing the prospects of JCR...

Just goes to show how many crooked and cowboy accountants there are! Glad to see JCR have kicked them into touch and show this won't be tolerated! Personally I think the accountants should pay JCR compensation (Do they hold professional liability insurance?) in damages.

Well theres certainly a bounce back on. Now up 28%.

cheers GF.

ps, thanks jfletendre, for your insight on the poster Thirdeye, Im glad you can see through his motivations, and yes it is personal and shouldnt be conducted on this board. This site is above those kind of gutter practices.

JCR seem to have had their spike now, lets sum up:


Reducing margins....fact.
Very High gearing.....fact
Interest rate trend upwards....fact
Went to bank & borrowed on false figures....fact
Just had a mild winter.....fact.
Exceptional costs very likely.

Lifted from another board..........



egoi - 25 Mar'04 - 19:18 - 50 of 60


No worries. FT says BUY, ARM newsletter says BUY, two new Year tipsheets also said BUY.

So, Outsider/thirdeye whistles in the wind. I think he is confusing this one with Britannia which, i agree, is every day more and more a sell. He has no evidence of forthcoming bad news,(or he would state it), has almost certainly not talked to management since the disclosure (or ever) and I would not be surprised if he or his pal are shorting JCR, hence the bulls**t. Otherwise, I don't understand his miserable, jealous campaign (over a year now) against a company in which he has never owned a share - and a company that has time and again proved him badly wrong, yet he persists.
I am told he has been banned from UQ for vacuous sniping and given a final warning on an ADVFN competitor. And so sadly this weak character spends time talking virtually to himself on a site with hardly any members. Would you trust someone like that...............

Forget the personal attack above the issue is JCR:

shareholders should check:

Reducing margins....fact.
Very High gearing.....fact
Interest rate trend upwards....fact
Went to bank & borrowed on false figures....fact
Just had a mild winter.....fact.
Exceptional costs very likely.
Directors bought options at 1p.....fact
Will the debt be resheduled to longer than 2008....possibly.

all on UK-Wire RNS or MoneyAM.

Gentlemen,

Can we please keep away from discussing the merrits of other posters - albeit in this instance duplicated from a third party - on this board.

Please can we stick to discussion on the company be it either negative or positive.

Ian

Ten million assets, (once repaid debt - and that not too far away) yet market cap under 3 million, excellent buying bargain, trading profitably and won't be long now and these facts will be haunting shorters. Turnover 22 million.

FT says you might just make a killing here, Arm newsletter says BUY two tipsheets recently said BUY. When the results show no further meaningful nasties, the recovery could be explosive. There are likely to be tipsheet recommendations, broker upgrades and a rush of buyers. The brave will take advantage of the current cheap price ahead of results, others I anticipate will pile in after results and anyone with a short position will be forced to join in too by covering like mad.

Risk/reward very much on the side of investors now.

Mild winter?? I think not, lol!

January and February were profitable anyway and March started fine, said the company. Looks good to me.

?10m assets not too far away?


They need to announce a profit after the misleading figures first...even then debt is scheduled to 2008 on programmed payments, then there is the overdraft.....4 years at least....not too far away?

Nothing misleading my friend. I expect profits to rise more quickly as new centres grow and then those assets will be a reality, quite possibly ahead of schedule. Cracking little business this one.

Cracking numbers were presented to the bank too.


A lot of talk of expansion by yourself & golfinger, but I really don't understand how they would do it even before the misleading figures were presented to the bank.


I hear you sold some because of your concern?

JCR back on track after results today. If claim against Dixons is positive, this would just be the icing on the cake.

Just Car Clinics Group PLC
29 April 2004




FOR IMMEDIATE RELEASE 29 April 2004


Just Car Clinics Group plc

Preliminary Results

Just Car Clinics Group plc ('Just Car Clinics' or 'the Group'), the independent
collision repair chain with thirteen vehicle collision repair centres, today
announces it preliminary results for the fifteen months ended 31 December 2003*.
In January 2003, the Just Car Clinics business was acquired and the Group's
business changed from internet-based motorcycle retail to motor vehicle
collision damage repair. The overall reported results reflect a combination of
these activities. The results relating to the continuing activities, which are
shown separately, reflect the performance of the Just Car Clinics business for
the twelve months since its acquisition.

Financial highlights (continuing activities before exceptional costs):

• Turnover of 21,625,000

• Gross profit of 9,014,000

• Gross margin of 41.7%

• EBITDA of 914,000

• Profit before goodwill amortisation and taxation of 125,000

• Profit before taxation 6,000

• Underlying earnings per share of 0.7p

Commenting on the results, Barry Whittles, Chief Executive of Just Car Clinics,
said:

'2003 has been a year of change for the Group. Much has been achieved despite a
number of challenges which arose during the first year of the new business. The
discovery of the overstatement of historic results, announced in March, was a
set back for the Group; however the underlying issues at the three affected
sites have been addressed, and they each have improved margins and traded
profitably during the first quarter of 2004.

Trading for the Group for the first quarter of 2004 is in line with expectations
and the quality of our team, infrastructure and support functions means that
Just Car Clinics is in an excellent position to develop further mutually
beneficial relationships with our insurer partners.'
For further information, please contact:

Just Car Clinics:

Barry Whittles, Chief Executive 07850 268369

David Hickey, Chairman 07712 880902

Buchanan Communications:

Tim Thompson/Tom Carroll 020 7466 5000


* In January 2003 Just Car Clinics changed its year-end from 30 September to 31 December. The current
financial period has therefore been extended to fifteen months ending 31 December 2003.

CHAIRMAN'S AND CHIEF EXECUTIVE'S REPORT

OVERVIEW

2003 was a year of much change for the Group, during which a lot was achieved
despite a number of challenges during the first year of the new business.

In January 2003 the Group acquired the business and assets of Just Car Clinics
and as a result the Group's principal trading activity now comprises a chain of
thirteen motor vehicle collision repair centres. During the current period the
focus of the Group has therefore changed from internet-based retailing, under
the name of BikeNet, to collision damage repair.

The new business undertakes collision damage repairs to all makes of cars, vans
and motorcycles and has established successful trading relationships with most
of the UK's leading insurance companies. It is key to the future strategy that
the business continues to develop closer partnerships with insurance companies
and other work providers so as to provide an exceptional service to customers by
investment in technology and the training and development of the employee team.

The accounting reference period of the Company has been changed from 30
September to 31 December and, as a result, the current report covers the fifteen
months ended 31 December 2003. The ongoing collision repair business of the
Group is best reflected by the results relating to continuing activities, these
are in respect of the twelve month period following the acquisition in January
2003 and discussion of trading results in this report relates to this period.

TRADING RESULTS

Profits from continuing activities before exceptional costs, goodwill
amortisation and taxation for the period of 125,000 were disappointing, the
largest negative factor being the overstatement of historic results, referred to
below. This resulted in inefficiencies in the operation of the three sites
affected being masked by false reporting and therefore going uncorrected for a
period. These inefficiencies have resulted in gross margins at these sites
being significantly below the Group average.

The underlying market conditions were also difficult with exceptionally dry
spring and autumn periods resulting in a significant fall in accidents and
repair volumes across the sector. Major insurers reported decreases in
underlying claims of in excess of 20%.

Despite these adverse market conditions the Group's turnover at 21.6 million
was 1% higher than that achieved by the business in 2002. New insurance
approvals have been achieved at a number of sites during the period and turnover
growth at less mature sites in Lincoln, York and Bradford was in excess of 9%.
However, the underlying fall in the market resulted in the overall growth being
below expectations for the period.

After excluding the three sites affected by the reporting issue, the overall
gross margin was 42.7% which was in line with expectations; the three affected
sites reduced the overall margin to 41.7%.

OVERSTATEMENT OF HISTORIC RESULTS

As announced on 16 March 2004 the historic results of three of the Group's
thirteen trading locations were adversely affected by the deception of one of
its management accountants, who it was discovered, had been falsifying
management information for these locations during both 2003 and 2002 (in the
period before the business was acquired). The deceit was identified by the
Group's Finance Director and has been extensively investigated by the Group's
auditors, Ernst & Young LLP, in conjunction with management. Subsequently the
Board has reviewed its system of internal controls and increased the frequency
and extent of review and checking by the central management team.


These investigations have confirmed that the issue was limited to three
locations and have not identified any theft. The Group's bankers, Yorkshire
Bank plc, have confirmed their willingness to re-set the loan covenants breached
as a result of this deception and revised loan agreements are now in place.

The results reported for 2003 have been restated to correct for the falsified
accounting entries, the Auditors' Report is unqualified and the Board is
confident that they accurately reflect the performance of the Group.

Having taken legal advice the Group is pursuing a substantial claim against the
vendors of the business, Dixon Motor Holdings Limited, for breach of warranties
included in the business purchase agreement relating primarily to the accuracy
of the profit and loss account for 2002.

WORKING CAPITAL

The working capital of the Group has been well controlled and net borrowings
throughout the period have been below that estimated in the cash flow forecasts
produced at the time of the acquisition.

As a result of this tight control the Group has generated 0.6 million of cash
from operating activities and at the period end has an unutilised debtor finance
facility of 2.5 million.

ACHIEVEMENTS

The first year of operation since the acquisition of Just Car Clinics has seen
much activity as the new business has formalised its independence and
established human resource and payroll functions, IT systems and communications
infrastructure.

During the period Just Car Clinics has also established its own distinct brand
identity and team culture based on strong two-way internal communications and a
goal of exceptional customer service.

The quality of the team and facilities was recognised by the wider industry
during the period with the following national awards:

• Wakefield Just Car Clinic came top in AXA's annual assessment of more than
260 repair centres.

• Five of the team and the Leeds Just Car Clinic were nominated in the
finals of the annual Bodyshop Awards, with two eventual category winners.


cheers GF.

added again but could only get just over 3,000 shares online. Might try another broker.

cheers GF.

Added to my holding today @18.7p. These results are much better than expected, given the shenanigans of one bad egg. Unused facility of 2.5 million, good cashflow, profitable first three months of 2004 and quality management who handled the problem very well. Banking arrangements restructured successfully and any court award would be an added bonus. Of course after everything there will be challenges ahead but as i suggested nothing new came out and the investigation is history.

All this for a market cap of around 2.6 million, and 21 million turnover proves this is a quality business. Well worth buying.

Firmly back on the right road (no pun intended!).

Superb summing up hawick and the future now looks very bright indeed, stock up 26% one of the leaders of the day.

Added again myself this pm.

cheers GF.

Topped up my holding today on the strength of the results. Thanks for the summary hawick and input GF. For interest, Comdirect were not operating a 3000 shares online limit.

Been advised on another board its been tipped today by City Confidential as a Speculative BUY, and is also one of there shares for the year.

cheers GF.

Rising interest rates for the third time this year this week are going to make it even tougher for JCR to pay their debts which stretch to 2008 at the moment.

Profits were predicted throughout the net of 1m by the bulls on here, even without their problems no where near 1m would have been reached.


Treat with caution. very high gearing, walking a tightrope & highly speculative, especially if interest rates rise further, which looks odds-on with the US looking to raise rates soon.

Been advised on another board its been tipped today by City Confidential as a Speculative BUY, and is also one of there shares for the year.

cheers GF.

Feel a desperate need to repeat your post?

That is already post number 132 & now 134.


I wonder if the banks have charged new arrangement fees etc for JCR not being the business with the profits the banks thought when they loaned their money, I can't remember a bank doing anything for nothing, maybe the interims will show us.

May have even put them on a higher rate above base to reflect the higher risk.




Lets look at your orginal forecast to see how conservative you are:

Profit of circa 700,000 at interim stage Is a growing business, so every confidence that this performance will be matched in second half, generating 1.4million in cash profits for the group. As others have pointed out this would essentially put company on PE of 1.



So a forecast of 1.4m, what did they make?

From City Confidential.............

last 15month results pleasing to the market,this year has started very well,insurance companies will choose established repair partners,the outlook is encouraging,pursuing a substanstial claim against vendors for problems before the business was aquired, pre-tax profit 125.000,basicly old hat to most of us,its now a buy again and quoted as share of the year by city confidential.

cheers GF.

When are the ONE penny options due to be excersised g/f?


Very poor show that options should be issued at 1p.

If they had issued at a fair price of 6 or 7p, then they wouldn't have given themselves cash on a plate & st the same time showed they cared about investors, by not diluting their shareholdings.

City Conf have tipped JCR before so I guess they have to stick with it, plus it has to fill space EVERY month.

Good news from City Confidential, they have an excellent track record and I am sure their followers will see this as a big green light, and no doubt others should take the hint as well. :)

I hold and looking to add on any weakness. Have been involved with these since 9p over a year ago and still positive on te shares.

LOL every one concentrating on City Conf.

OPTIONS @ 1p

MASSIVE DEBT in relation to NAV


INTEREST RATES UP THREE TIMES on that very debt


EUROPEAN LEGISLATION getting tougher for bodyshops.


INSURANCE COMPANIES clamping down on margins, companies like Aquillo formed to help.



Last margins I read were just over 3% at the interims.

I agree Hawick excelent that a pro and very good tip sheet as backed this one. Just spiffing.

cheers GF.

-2p or more than 10% as investors maybe realise the risks, perhaps too much concentration on positives with no balance of negatives?

Third Eye - I'd like to ask you a very blunt question that I would appreciate an honest answer to - why the personal agenda against GF? I hold a few stocks that have threads running which I like to keep abreast of. You describe yourself as someone who likes seasoned debate but whenever I read your name, 100% of your posts are there in a contrardictory response to something GF has posted and it's BORING. You ALWAYS disagree and that is far beyond coincidence.
Give it a rest.

jfletendre, please stick to the merits or negative comment on JCR.

It's in the firing line due to it's huge debt position, if I wish to be negative or positive I will....Other than that filter if you have no wish to read anyof my comments.

Teribble day i feel like jumping of this balconey, jcr what a dog.

Good point JFT (anna)mind the management advise me that certain threads are being monitored very closely on the board and I think you know the ones I mean.

Theres a big difference between debate ( the bull and bear case) and out and out bulletin board bullying and disruption.

I hope you post again on this thread but can see how annoyed you are.

cheers GF.

Brand new technology piloted at Leeds branch
An innovative new system that allows insurers, bodyshops and customers to monitor the repair status of their vehicles 24 hours a day and seven days a week is being piloted at Just Car Clinic’s Leeds branch.

ClaimWatch is a web-based tracking package that aims to improve efficiency and push customer care standards even higher. Just Car Clinic is one of the first collision repair companies in the country to use the new system and hopes to roll it out to all 13 of its branches across the Yorkshire, Lincolnshire and Nottinghamshire region in the near future.

The ClaimWatch package is now fully integrated with the Brown Brothers’ ‘Bodyshop Direct’ software used by Just Car Clinic. It features a range of exciting services, including a facility that enables jobs and courtesy cars to be pre-booked, a customer contact diary and a ‘one-click’ option to update the repair status of a vehicle. This means that members of the public and insurance companies will be able to check the status of a repair on-line, following the vehicle through the entire process step by step.

Ian Fryatt of Bodyshop Direct said: “We are delighted that, as a Bodyshop Direct customer, Just Car Clinic has access to ClaimWatch. This link undoubtedly adds value to the Bodyshop Direct package that they already operate at Just Car Clinic by providing users with a proven online communication tool that gives efficiency and time-saving benefits.”

Robert Hirst, General Manager of the Leeds Just Car Clinic, said: “I am delighted that we are piloting this exciting new piece of technology here at Leeds and am confident that it will bring great benefits to the customer, as well as proving to be a simple, but efficient, tool for the team here to use.

“Obviously, we will be monitoring the pilot phase, which starts this month, closely and feeding back to colleagues at other branches on the benefits before ClaimWatch is rolled out across all 13 of our collision repair centres.”

Robert added: “Good customer care is at the very core of the service that we aim to deliver and this development will bring real benefits that can be enjoyed by the customer.”


cheers Gf.

Do we think companies like Aquillo that assist insurance companies to make sure they get a good deal, will put extra pressure on JCR margins, they seem to be popping up everywhere.

I remember when I was in the trade, insurance companies were getting away with just a 10% margin on parts & getting much tighter on labour, this seems to be a big factor now, the more lucrative days have gone.


Also European legislation on bodyshops & air pollution was also getting tougher & requiring much more investment.....yet another reason I wouldn't touch this stock.

However the guys with options to buy shares at 1p should do ok.

Nice move upwards today.

Personnaly I think options are an excelent incentive tool for management and employees. In this case and I dont think Thirdeye read the RNS on the reversal they were given to the management as part of the package on the takeover of bikenet by Dixons. Nothing wrong with an incentives for companys who earn them, its the fat cats who dont earn them that should be attacked.

Obviously in thirdeyes world we would be back to OLD Labour and Unions running the show, strikes here there and everywhere.

JCR have a string of insurance companies they work for, no problems to report there. No problem on margins either as the company going forward are using the latest technology to bring the cost base down.

As for the loan repayments no problems at all, JCR have budgeted for much higher interest rates in their internal analysis, as have their broker. Cash flow positive, no problems at all.

Might prove fruitfull for Thirdeye to get in touch with the CEO just to put is mind at rest ( I have), yes thirdeye give him a ring or better still visit him, you can usually find him at the Hull clinic not far from where you live in Burton.

cheers GF.

Options should be issued at a fair price not only to management but the people who invest in the company gf. Issuing hundreds of thousands at 1p, doesn't do the investors any favours, it's not balanced, no one minds a small discount, but 1p is an "I'm going to be alright Jack" type attitude. Gives clues to the moral credibility of the management at least to my mind.

Sorry thirdeye you havent got your facts right, go back to the RNS on when the actual reversal took place. I suppose in your world aswell you would be taking a hit at the miserly salaries the management get at this company, those options were given instead of high inflated salaries, an incentive to get the business going and growing, none of your reds under the bed Union and political tactics which you obviously agree with.

Caps on management salaries does no company or its share holders anygood.

Come into the real world of capitalism thirdeye, its no good being on the fringes as a union activist. In your type of world there is nil growth and its been proved.

cheers GF

What fraction of the price at the time were the options issued at g/f?

Nothing wrong with capitalism, but there's plenty wrong with fleecing (in my opinion) shareholders by the issue of options at a deep discount to market price , there is a difference.

Is this the quiet half they are now in gf?



Btw do you think you get over excited with your positive comments gf? I mean 1.4m you forecast in your original post, even taking away the fiddling of the books, they wouldn't have reached anywhere near that would they?

What went wrong?

Think weve now found your secret agenda thirdeye, 'a red under the bed' a COMMUNIST.

I have never been against options and never will be. They are an incentive, an incentive for the brightest in our society and business to reap rewards, only those who are not bright enough should fear them.

In thirdeyes society we would be back to the 3 day week, restrictive practices, a much hiked minimum low wage, UNEMPLOYMENT no growth INFLATION and high interest rates.

By all means you live in the past but I will gladly move on thankyou.

cheers GF.

No use trying to attack me, to divert away from my questions lets debate JCR

So do you know the answer?

What fraction of the price at the time were the options issued at g/f?

Making demands again I see, make no wonder the poster Invisage had a go at you and said you should do it yourself.

Seems thirdeye is indeed a lefty, too idle to even check out a fact himself.

cheers GF. ps, the more options the better , I just love incentives and not the outdated thirdeye RESTRICTIONS.

Obviously you don't know the answer.

Options = dilution of the shareholders stake & profits pro-rata.


More options the better eh?



Well if JCR had about 15m of them @ 1p (which is the price we have been discussing) then for 150,000 in the balance sheet, they would cut eps by more than half, so 1p eps would become less than 0.5p eps......so how do you think more options the better gf?

Gives Incentive Thirdeye to outperform, the companys profits rise and rise and so do the earnings per share.

Each option (in monetary terms) is diluted as the company grows. The ordinary shareholders are happy the option holders are happy, Plain straight forward stuff. Incentives lead to outperformance. Restrictive practices lead to nil growth and misery, perhaps you like that.

cheers Gf.

And just to show that its not just the management who have incentives at JCR here are the benefits there excelent staff get......................

Well, besides the advantage of joining a highly successful, growing company that will support your career through training and local chances of promotion. We also offer:


Access to manufacturer and in-house training programs that are designed to make you the best what you do.
A culture based on recognising individual talents.
A fun and lively working environment.
Highly competitive basic salary.
Competitive Bonus scheme.
Paid annual leave.
A rigorous policy of internal promotion.
Employee share-save scheme.
Non-contributory private pension.
Social Clubs for each site.
Company Suggestion Scheme - benefits for both company and individuals/teams.
Up to date equipment/tools.
Corporate image in uniforms and overalls.
And because other large companies recognise opportunities at Just Car Clinics they are also prepared to offer their products to our employees at discounted prices. ENDS.

EXCELENT.

cheers GF.

If it gives incentive on the above example profits would have to more than double to stand still to reward the share option takers, however the investors would see no reward....therefore your statement more options the better makes no sense.


However if they were issued at market price at the time, then that's a different matter.....of course the one's we are talking about were not they were issued at just 1p heavily skewed in favour of the option holder at the expense of the investor.

Laughable thirdeye, the options only account for 6% of the ordinary share capital of the company, miniscule if you then check it out against your flagship Britannia, were warrants and the issuing of new shares nearlly every quarter dilute the ordinary share capital by up to 18% yes 18%. Make no wonder the company is on a top heavy P/E of 33.5 based on the weighted average number of ordinary shares and warrants in issue.

Talk about double standards.

As per usual de -ramping of the poorest order.

cheers GF.

Erm your comment was more options the better, in my example it PROVES clearly not.


I thought this was a JCR thread, but never mind Britannia will bring in 500,000 which will then double over three years as it's lent out @ 31%.


The warrants were also issued at float price, not a heavy discount, far more credible management, & all those in at 9 or 10p like myself were & are happy about them, it seems others are too as the share price has gone up from the 8p I started buying at to 41p now, with results soon, I expect the price to get well beyond 41p.


As for laughing, it seems I have always been saying Britannia & Cape are far better bets for heavily borrowed stocks, Cape up from 23p to 90p & Britannia up from 8p to 41p, So I guess that means I am laughing.



So now that's out the way, perhaps we can stick to JCR?




A few questions


1) After your 1.4m forecast 18 months ago what is yournew forecast for profits this year?


2) Have you found out what price JCR was when it issued the heavily discounted options yet?



3) What sort of margins do you think JCR can maintain?



4) Is Winter the busiest period?



5) What effect do you think further interest rate rises will have on JCR?

Im very positive on JCR indeed. In fact if the claim is settled in their favour we will see a lovely spike up. Jcr can maintain margins with high grade technology cutting costs no problems, and the sales figure I see the company attaining is unchanged, especially in these days of higher interest rates were people hang onto the old banger much longer and bodge up whereas with lower interest rates they would replace. The management have also budgeted for higher interest rates on outstanding debt and we are cash flow positive. Everything is fine, yes F I N E.

As for your silly questions please go elsewhere. It seems that you dont like successful people, you hate to see others doing better than you , all the hallmarks of a communist.

The days of socialism are over accept it, capitalists rule the world.

cheers GF.

Ah I see anyone who had researched the company properly would be only to pleased to give a constructive reasoned bull case by answering my questions....clearly you feel you can't answer them.


Even if you did, how much credibilty should we put on it, considering your 1.4m forecast last year?



I guess we can all make our minds up, anyone can say "everything is fine"

thank-you for your effort though.

The options debate is at best marginal here and if that ( and exaggerated concerns as i will demonstrate here about interest rates) is the entire bear case as it appears to be then i am more than happy holding. A market cap of not much over 2 million could easily more than double if a million plus settlement is won. Even if it is not then profits and good cashflow should concentrate investors minds and the cash generation of 600,000was a bonus and there is an untouched banking facility of 2.5 million, which would be used to expand the number of car care centres i understand.

Put that all in the pot and you have a company that is deeply undervalued.

For a 2.5 million market cap company that all adds up to a potent attractive mix. In a company that size you can't have everything but this one comes pretty close! Worth buying imho.

Thirdeye, I wouldnt answer your silly questions even if you paid me. You just dont seem able to grasp the fundies behind business. Is Arfur Scargill a mate of yours?.

Hawick a well presented and factual posting comment.

cheers GF.

Hawick he was telling us the stock was on a p/e of 1 & would be 55p by Xmas 2003 elswhere when backing you up.

Looks like higher oil prices will put pressure on motorists & they will be chomping & searching around for the best deals, higher interest rates look certain & will again eat into JCR's profits or enhance their losses whichever it may be.

Yet another interest rate rise today, bad news for very highly geared company like JCR.

Yes JulieH over on Sharecrazy has pointed out exactly the same thing.

GF.

Pleased to hear it. Keeps investors balanced with positive & negative views.

4-5m borrowings & several interest rate rises, makes a difference.

Also will any costs from the recent books overstatement results in arrangement fee charges etc in the current half?

Third Eye was negative on this stock @9.75p (now about double) and has made several hundred (I do not exaggerate one iota, yes hundreds) of posts on advfn on JCR, (or more accurately on individuals much of the time, truth to tell) where he posts as Outsider, without EVER owning it. Worth checking out. ;)

Bit like his 'conduct' here on the RAB thread and several GF stock threads.

Judge him for yourself!

If JCR get the anticipated seven figure settlement from Dixons then the market cap of under 2.5 million is going to look very silly. Unused credit line of 2.5 million still available for expansion. Trading profitably.

La la oh Julie, if you love me truly, la la la!

Oops sorry, just singing away there.

Not looking as silly as the guy who forecast 1.4m profits (you were the author wern't you?) last year,they came in at little over one fourteenth of that and as YOU mention RAB not looking as silly as the guy who mentioned 1 quick time, in April I think.


Thinking of changing my username to hypestopper.


Any unused credit on top of 4-5m borrowings is a HUGE worry as rates continue to rise. Finance charges will make very interesting reading.


Never hold a low asset value stock with more than 100% gearing when rates are rising fast.

btw there are two guys who go round the internet promoting the same stocks & making very similar claims, (prospective p/e of 1 etc) don't you think it's good that a constructive reasoned case is made out to balance things out, investors then don't get burnt so much don't you think?

I do tend to follow good tipsters even if they crop up on more than one site. Sure others do too. You certainly follow me, cropping up in many threads I have been in!! Guess that must be a compliment. ;) As for you being hypestopper, lol, virtually a thread a day much of last year on one company from Third Eye elsewhere, most over hyped company of all time i reckon. Pot, black and kettle come to mind!!

(Now well done to those who avoided your sell advice on Datacash at 42p as well as on JCR at 9.75p(DATA now 101p).) Your advices Third Eye dont concern me as you have had an anti JCR agenda for over a year. (And it was you who brought up your track rexord.)

Interest rates impact will be dwarfed by a seven figure settlement if they get it. Profitably trading and a market cap of 2.4 million is JCR. Not a lot of businesses can boast that record.

A stock more moneyam readers would do well to look closely at.

Blimey Datacash is now to do the with JCR debate??

I regard your seven figure settlement for JCR as likely as the profit forecast at the beginning of this thread of 1.4m.


If I had followed you when this was 40p & you were saying 55p by Xmas, I doubt I would be here posting now, probably be selling the big issue, as it is I do my own research & 50,000 up on that share that you & g/f have made about 700 negative posts between you in one thread on another board about.....not so innocent yourself eh?


As for anti anything, remember I warned this would make no where near 1m yet alone 1.4m.....who was right & who was wrong?

Thank goodness I may have stopped a few buying after teamwork ramping by certain people on various internet bulletin boards (check the graph pattern) & indeed got thanked for it by many.


Isn't funny those who cast stones at others need to divert from the facts, check the profits of JCR who forecast 1.4m who suggested below 300,000...Who got it right & who overstated by 1m?


I have called it right you have overstated profits by miles, why should anyone believe your seven figure settlement fee?

Once you start making sober statements & readers may start to take notice of your posts.

Think your forgetting one thing thirdeye, the dodgy accountant. We can only base forecasts on what we have been presented with and if figures historicaly have been tampered with then yes future forecasts will be wrong.

I look forward to the legal settlement, if it goes JCRs way, the share should respond positively.

cheers GF.

Without the dodgy accountant, taking into account interims, the full year profits would be no where near 1.4m.

I think some posters seem to 'over egg the pudding' perhaps hoping others will be drawn in without doing their proper research? I don't know, but I keep seeing fancy forecasts, which in my opinion are very misleading & unbalanced. So good job this board supports free speech to help balance things out :-)

Yes, we're all for free speech to give a balanced view - there are SO many threads that need this - but Third Eye, you only ever appear on threads that have GF on them - strange I think - does it mean that all the other threads are perfectly balanced and not in need of your views?

The current state of JCR imho means the company deserves a much higher rating and that is what investors should focus on than the current market cap under 2.5 million. Profitable, unused credit, expanding the number of care centres, healthy turnover and very cash generative.

Not many companies with such a low market cap can boast all that. Worth looking at as an investment imho.
All boards i know of promote free speech, but a few ban posters who have bitter personal campaigns or hidden agendas, thankfully, which is how it should be.

SO HOW MANY OF THESE OPTIOSN ARE THERE?

LOTS OF BACK AND FORTH ABOUT THEM BUT WITHOUT THE FACTS:-

HOW MANY
EXERCISE WINDOW
LIMITATIONS etc

No way to make a fair valuation of the Company - All else being equal option dilution plus Pension Liabilities (if any) will ahve a significant effect on share price.

Anyone got the facts?

If not suggests someone phones Barry Whittles, Chief Executive 07850 268369 and then posts theanswers.

jfletendre I will post on the selected threads that I think personally have too much hype on them, correct about JCR, correct about RAB so far.

You against negative views?

Also chaeck Ofex traded Britannia on ADVFN about 700 posts on this little Ofex stock from hawick & G/f as a team, hey but I don't complain, my stocks will stand up to negative posts as Britannia has, in fact up 355% since I bought.



Back to JCR which without any further diversions I hope we can talk about Puggugly I think it's 800,000 @ 1p from memory, if you check the RNS news it is in one of the RNS articles, when management do those sort of things well below the current price at the time, I don't trust them, very selfish & not fair to investors, so far I have been correct to have my doubts.

The shares were about 4p at the acquisition and puggers this is what you want:
In addition, Barry Whittles has today been granted options over 609,669 Ordinary
Shares, and Chris Elton has today been granted options over 203,223 Ordinary
Shares, in each case at an exercise price of 1p per share.
On top of the 12.525 million shares that would make c13,339,000. Given that they bought far more shares subsequently at 8p and 12p I hardly think it damages their credibility and they are running the business superbly. JCR up 100% sincew i first bought when Third Eye started his campaign, so how that makes him right I leave for you to work out, lol!!!

As I believe he was "in the business" (car mechanic?) i will ask him if he ever worked for Dixon's motors? perhaps that would help to explain a lot!!

The eps was unaffected at the results. The market cap at 20p would be 2.68 million from 2.5 million. These are the only options and not going to make a big difference. Still great value ;)

Oh dear now even suggestions I worked for Dixons, boy you guys are desperate.


We are losing focus again I see, the point is these had suggested profits of 1.4m.

No one wanted to talk about the 5m borrowing and their market cap being much less.

In fact Nav value of 5m was claimed by hawick.



I'm just here to point out the truth, ie, they never had 5m NAV etc.


Also pointing out issuing 800,000+ options at 1p that has a current share price 400 or 500% above that is BAD FORM for investors & gives you an insight as to how the directors may be rewarded in the future...a very relevant point I think.


& no never worked for Dixons, I was a director of an Independent HGV garage, Car garage & Bodyshop.

Thanks ThirdEye and hawick:- I think you both have made very fair points -
Potential dilution not as bad as I feared but tend to agree about the 1p - and also the level of debt with rising interest rates but as hawick points out the business appears to be being run well - apart from an accountant fiddling the books - BUT (imo) this should have been spotted earlier from cash flow discrepencies - (perhaps that was how he was found)and reflects poorly on management BUT it was found out. If price reduction forthcoming (say 1 million as suggested) then a sharp boost to assets and share price) but nothing is, from my experience, sure in Law apart from the COSTS.
Will have to do some more research.

Puggers, the fraudster was in the days before the Bikenet acquisition of the company therefore it'd be wrong to blame current management I think. And once it was located the company (imho) did all the right things and the report is pretty plain in pointing the finger. I would not be surprised to see an out of court settlement - hope so!
Good luck whatever you decide.

Fair constructive & sensible comment pugugly.


& one thing with their balance sheet JCR can't afford is costs.

Well someone voted with their feet & bailed out at a price well below the bid.

Moves and acts like an Ofex stock this one, often moves up or down on 1 sale or purchase.

Moves and acts like an Ofex stock this one.

Is that a criticism, given you are an ofex fanatic, Third Eye?

Just an observation hawick, down 0.75p on 3000 traded today, unless any larger delayed trades get reported which is possible.

Thanks for pointing that out, yes, overdone and very cheap now as your post draws attention to.

In your opinion cheap. In my opinion very very risky, huge gearing, possible lengthy legal battle which would produce ongoing costs. Margins low, Interest rates increasing. Further tightening of legislation as to pollution re: Bodyshops...My opinion would be Sell on strong doubts as to weather borrowings can be met.

No problems on borrowing front as long as the company stays cash flow positive which indeed it is and also maintains steady growth which it as.

No legal battle just a settling of the claim by both sides insurers.

cheers GF. Certainly worth a punt at this price even if it were only to be short term, remember a positive on the claim will almost certainly send the shares northwards.

Interest for both long and short term investors.

Cash flow positive up to the last accounts, but when will the new banking arrangement fees & charges hit for them not keeping within their banking agreements?

Edited post.

I will ask for your post to be withdrawn/edited as most is untrue.

goldfinger,

Please do not make personal attacks on these bulletin boards.

J.

post 181, COPIED from thirdeyes post....................


"& no never worked for Dixons, I was a director of an Independent HGV garage, Car garage & Bodyshop".ENDS.

ATullet MONEY AM, I happen to think I was right in pointing out the truth about the above poster.

I was only trying to point out that the above poster had used his employment in the motor industry as a bear weapon in trying to get bulls to sell the stock.

If my post is wiped then surely his should be.

cheers GF.

The quote above (I was a director of an Independent HGV garage, Car garage & Bodyshop".) is true, your previous post was not & therefore was deleted.

Why does it say then and penned from your own hand and taken from your personal profile on your own syndicate site (yes Ive saved it before you shut the site down) that you were a panel beater/bodyshop worker, before moving onto inspector for the HGV garage??????????????????????????????????????????????????????????????.

I agree you were asked back after retirement for a short period as a director AS YOUR ARTICLE SAYS, but to mislead the board in this way making out that you have run a garage business all your working life is misleading. As my post was removed so should your posts as you are trying to use them in your attack on JCR the company.

I also note that and are you denying it?, that you learnt about business from reading three books from the London school of business, not from the practical running of a business, and theres one mighty difference.

cheers GF.

Goldfinger: Come on, you had a warning from Jon Tullett earlier. These Bulletins Boards are about companies and their shares, not about posters and their personal details.

Take this as a final warning.

Well I am in for what it's worth...as is my constitutional right.
In with a nible of 20k bought today which should go through as a "L" tomorrow.
Regardless of pending interest rate rises between now and Christmas the fundamentals are still sound and I have faith in the boards stewardship of this company as regards the gearing.

Excellent, welcome aboard a class act.

cheers GF.

OK 002 bed time lol lol

Business thriving for Bike Clinic
Sheffields Just Bike Clinic, part of the 13 branch strong Just Car Clinic chain, has topped off a fantastic first year of trading by securing a number of high profile contracts.

Business really has been booming for the dedicated motorbike collision repair centre and its workload increased by more than 15 per cent during the 2003/04 financial year. The company has secured contracts from a number of high-profile names in the insurance industry to substantially increase its share of the market.

Manager Paul Bennett explained: We are still a new company and we started out here as a small team. I am delighted with the way our first year has gone and we may need to recruit more staff soon to meet the growing demand for what is a very specialist service.

Just Bike Clinic is a one-stop repair centre and guides its customers through every stage of the repair process, from the initial collection of bikes following a collision, to liasing with insurance companies and parts suppliers to get the motorbike back to new and on the road as quickly as possible.

cheers GF.

Nice extracted piece here taken from a chappie who went to the AGM...........

Brewin Dolphin's latest research note (Hold at 22P) says that the board has taken legal advice and are pursuing a significant claim against the vendor, likely to be in excess of 1m. I asked about this at the AGM and the claim is being pursued under the warranties and indemnities provisions of the Acquisition Agreement. The board indicated that they were happy with the progress being made with this claim and it certainly has not been written off. I was concerned that any payment would be swallowed up by lawyers' charges and that they might consider phoning Fred Goodwin (Boss man of RBS, who own Dixon Motors, who sold their Car Clinics to Bikenet, who became Just Car Clinics) direct to reach a "lawyer-free" settlement. That's what I would do in their shoes, but as they have to keep Dixon Motors, Direct Line and Churchill Insurance sweet (all owned by RBS) the board might find that a problematic course of action. We shall see.

Brewin Dolphin say this: "The Group currently trades on a multiple of 10.7x our 2004E earnings against the insurance and motor retail sectors both on between 10x and 12x 04 earnings. Our DCF model implies a share price of 30p assuming only modest growth in earnings through to 2010 and nil growth thereafter."

cheers GF.

Good post on Motley fool not from me:

" So to me this half of the story is bad news and the business looks very vulnerable .Other half seems better but high risk"



http://boards.fool.co.uk/Message.asp?mid=8626603

Another piece taken from a chap at the AGM...............................

The members of the Board were very courteous. Every question was answered with no side-stepping or obfuscation. Of course, when it came to "forward looking" information they could not tell me anything that was not already in the public domain - it didn't stop me trying though!

After the AGM was over, Barry Whittles, the MD, showed me around the York operation and introduced me to some of the key personnel. What impressed me most was the professionalism of everything and everyone I saw. This is a class operation, of that have no doubt. Training and staff development are being given a very high priority, with plans for a new training centre already well-developed. They are happy with their computer systems, which appear to work well. They link, wherever possible, with the insurance companies' own systems and it all seems very slick. For example, a computer-based estimating system is used and the estimate, together with digital photographs of the car damage, can be transmitted to the insurer and a decision to go-ahead or not given very quickly. For cases where an insurance company inspector needs to look at the vehicle, a quiet area separate from the workshop is made available where they do their admin work, use their laptops and so on. The workshop itself was much larger than an average bodyshop. It was busy. I am no expert on bodyshop equipment but it all looked to be well maintained and the paintshop facilities looked superb. The reception staff were friendly and helpful and the customers that I saw seemed to be very happy with the service.ENDS.

cheers Gf.

So a seperate quiet place just for insurance to see the vehicle...not a very productive way of utilising floor space & transfering into earnings is my concern, seems an expensive luxury, no wonder margins are so wafer thin.


Just checked MoneyAM's report of net current assets (m)... the figure? .... -0.531

Brewin Dolphin say this: "The Group currently trades on a multiple of 10.7x our 2004E earnings against the insurance and motor retail sectors both on between 10x and 12x 04 earnings. Our DCF model implies a share price of 30p assuming only modest growth in earnings through to 2010 and nil growth thereafter."

cheers GF.

Do they say when they expect the net current assets to become a positive figure rather than the negative one of -0.531? Is that 2010 or beyond? Have they conviently missed that out & the high gearing or have you just selected your text?

Brewin Dolphin say this: "The Group currently trades on a multiple of 10.7x our 2004E earnings against the insurance and motor retail sectors both on between 10x and 12x 04 earnings. Our DCF model implies a share price of 30p assuming only modest growth in earnings through to 2010 and nil growth thereafter."

cheers GF.

Do they say when they expect the net current assets to become a positive figure rather than the negative one of -0.531?

Building a nice support base at 17p bounceing off several times. Highlighted this week on the FAR3 breakouts as one to watch out for. 30p looks fair value short term followed by further rises subject to successful settlement.

Sorry disagree. Papers today warn of much higher interest rates, these will hit JCR hard with their high borrowings.

If they lose any legal battle with their gearing, they will be in serious trouble.

Profitable, sub 2.5 million market cap, Brewin's forecasts extremely modest and good to see coverage from a broker like them for such a small company indicates JCR worth taking seriously indeed. Strong cashflow, unused bank facility of 2.5 million and expanding number of centres. Miserable summer will have aided business too as an added bonus and any settlement can only help!

Given all those plus points for a company with such a small market cap we can live with higher interest rates. You tried to talk this one down when the fraud was uncovered with scaremongering about more to come that was proved to be merely that - scaremongering - now you are trying interest rates.

Very cheap at these levels, moving off support again.

The last dregs of JCR bears fast running out of excuses. And final resistance being flushed out, very little selling pressure left now.

added this morning hawick.

cheers GF

WELL WORTH GETTING IN FOR A QUICK PROFIT. This as a very high beta and should really take off over the next couple of days, but please keep a close eye on it.

Just Car Clinics Group PLC
22 October 2004




FOR IMMEDIATE RELEASE 22 October 2004


Just Car Clinics Group plc
Settlement of warranty claim


Just Car Clinics Group plc ('the Group') announced today that a settlement of
the warranty claim against Dixon Motor Holdings Limited ('Dixon') has been
agreed.

Under the settlement, Dixon has agreed to reduce the deferred consideration
payable by 680,000 and to pay a contribution towards costs. Dixon will also
reimburse interest paid, calculated on the total settlement from the date of the
acquisition in January 2003.

Commenting on the settlement, Barry Whittles, Chief Executive of Just Car
Clinics, said:

'I am very pleased that a speedy and amicable agreement has been reached with
Dixon which I believe represents a fair resolution of our claim and I look
forward to continuing the mutually beneficial trading relationships between the
parties'.

For further information, please contact:

Just Car Clinics:
Barry Whittles, Chief Executive 07850 268 369
Chris Elton, Finance Director 07702 298 344
Buchanan Communications:
Tim Thompson 020 7466 5000






This information is provided by RNS
The company news service from the London Stock Exchange


cheers GF.

Up just under 20% on the day and more to come I feel.

cheers GF.

The maths behind the RNS announced friday.......................

Deferred consideration stood at 1955,000 at half year, so a 35% reduction is more than welcome.
That will remove the bank overdraft. So 680,000 at 8% is 55,000 pa (830,000 at 8%, see below, would be 65,000) in interest saved. Based on this, I think the "refund" of interest will be somewhere in the region of 100,000 and lets say a contribution of 60% to investigation costs, that's another 50,000.

So in summary, P&L has improved by 150,000 this year with an ongoing improvement of 55,000 to 65,000 and the Debt is reduced by 830,000 in total, assuming all the Dixons money is used to pay off debt.

On a P/E of 8 that's worth another 1.2m on "Enterprise Value" ie 400,000 for interest saving and 800,000 for debt reduction.

cheers GF.

Goldfinger - I note your point is a repeat of one on another BB. Pity you didn't read the following posts re:incorrect interest rate assumption.

Ramper are we?

Not at all, both posters agreed that the final outcome was the same.

cheers GF.

That is my share for today...

UPS
JCR 35.5p
Indicators at oversold and now rising with MACD on the turn.
Profitable company with Interim results last September
well undervalued as sells are 25M and market cap of only 4.6M
& on a PE of 7.7 has increased profits for the last couple years
and looking for adquisitions
Small NMS 5K, expecting trades to be reported as delayed

I agree MRSI, well oversold. Horribly illiquid share so the swings in price are exaggerated, and the spread is awful. The MM's take the p*** out of investors on this one. Trades over 5,000 are usually reported delayed by 2 hours.

An acquisition is expected if management comments follow through. They have mentioned North Yorkshire. Any acquisition should be earnings-enhancing.

Bought in again this morning. Thought the chart was looking as it was heading for 30p but I beleive a lot in Master RSIs TA wisdom not the over hyped up talk you get on the other thread from one poster.

Really starting to do the business again.

Business model looks on track after a dodgy 18 months.

Moving up nicely.

Must be a new high.

Nice to see these positive again.

Some momentum behind these.

Results to end of Dec should be out soon.

Right on cue..

Just Car Clinics Group PLC
08 February 2007



FOR IMMEDIATE RELEASE 8 February 2007



JUST CAR CLINICS GROUP PLC


On behalf of our client, Just Car Clinics Group plc, the independent collision
repair chain with seventeen vehicle collision repair centres, we notify the
London Stock Exchange that the Company will be announcing Preliminary Results
for the year ended 31 December 2006, on Monday 5th March 2007.


For further information please contact:


Tim Thompson / Robin Haddrill
Buchanan Communications Ltd Tel: 020 7466 5000

Just Car Clinics FY pretax up at 780,000 stg, current trading in line with hopes
AFX


LONDON (AFX) - Collision repair chain Just Car Clinics Group PLC reported higher full-year pretax profits driven by a 12 pct growth in sales, improved margins and cost control.

It posted pretax profit for the year to Dec 31, 2006 of 780,000 stg, up from a restated 583,000 stg one year earlier. Group turnover grew 12 pct to 27.8 mln stg, while like-for-like turnover rose 9 pct.

It said trading for the first two months of 2007 is in line with its expectations, adding that it believes it is well positioned to continue its 'successful growth', both organically and by increasing the number of locations.

The company expects to start dividend payments within the next 12 months.









newsdesk@afxnews.com

ssa/pmi/vlb

Thats a new high......... NICE.

Sound start to the week.

Forward P/E of 16 and PEG of 0.9 to end of Dec this year.

Should be trading on a fair P/E of around 25 so plenty to go.

This looks great, GF. Could be another SMC, eh!

Looks like a new high.

Doing very well, out of this bought at just over 10p.................. NICE paul eh.

Another fine day and another high.

Forward P/E of just over 17 to end of Dec 2007

dropping to 15.5 end of Dec 2008

More left in this me thinks.

Motored today.

TA looking sound...

Motoring away again.

Really motoring away now.

One of your best GF. I missed the bus @ 30p and thought I'd leave it ... more fool me eh.!!!

An hold at the current forward P/E Kitos.

Im thinking of top slicing.

Carrying on its momentum run on small volume.

Took 25% off the top yesterday. Sensible investing.............. I hope.

If anyones looking for bargains after this latest sell off this one should surely fit the bill.

Down to about 88p and as been intraday as high as 110p in the last few weeks. Looks well oversold to me due to having a high beta.

Have a look, a quick few bob could be on the cards but DYOR.

Any thoughts now please Goldfinge? I have always liked this stock, but bought some for my daughter currently showing a loss!

After clicking into my Brokers I am very pleasantly surprised to find a sum of money deposited. This after holding JCR for about 15 years no less.. just goes to show that miner miracles can happen.

http://www.investegate.co.uk/just-car-clinics-grp/rns/scheme-of-arrangement-effective/201509161034042218Z/