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Coffee Heaven - A heavenly share for penny punters ? (COH)
overgrowth
- 06 Oct 2003 22:47
 A
busy day in the Warsaw Underground ! |
Not just another coffee shop chain - this one is a brand leader and is only trading in Eastern/Central Europe (i.e. the countries recently admitted to the EU destined for substantial business growth). The company is creating new outlets at a fair old pace and take a look at their website - these are quality stores in high-profile locations like major airports, railway stations etc. Website: http://www.coffeeheaven.eu.com |
|
APRIL 2006 TRADING UPDATE!!! Total Gross Revenues for 12 months to 31st March up 66% to £6.3M (2005: £3.8M) Lots more info. on new markets and stores click here to read the full details. Stores: 43 (up from 32) stores currently trading (Poland: 30 (up from 23), Czech Republic: 6 (Up from 2), Latvia: 7 with a further 5 units under construction including Bulgaria and sites secured in Romania (subject contract). Bulgaria & Romania are seeking to join the EU from January 2007. Sites located in key high street, shopping malls or Airport locations. Company growth target: increase number of units by at least 20 units to some 63 units by 31 March 2007. Aim being to achieve this level of growth within present Cash resources.Cash balances at 31 March 2006 were approximately £2.9M (2005: £0.7M). Debt was nil (2005: £ 2.5M): Nil Debt! Positive EBITDA: For the year ending 31 March 2006, Group EBITDA expected to be firmly positive after charging UK and new market development costs but before exceptional costs relating to the cancellation of bonds (previous Debt). Forecasts: Based on present trading conditions and current exchange rates we anticipate indicative sales of £9.3M for the year to 31 March 2007. This includes indicative sales of £0.4M from Bulgaria, which will be reported but not consolidated. From Richard Worthington (Chairman and Chief Executive): ‘The new financial year has started well. There is no doubt that the significant economic improvement in our markets is feeding through to consumer confidence and spending. The strength of the coffeeheaven brand ensures we are ideally positioned to benefit from our customers' increasing prosperity.’ |
AdieH
- 10 Jul 2007 10:04
- 1710 of 2037
Totally agree...
David10B
- 10 Jul 2007 10:07
- 1711 of 2037
ADIEH of course you as I affect you the most.
Ian I dont mind anyone discussing their shares, but here is blantant ramping.
Not only that I am the brunt of their rudeness and ignornace I dont mind as it clear shows weak characters.
I can undertand you getting daily complainst as according to may nail box many have not bought this share and have thank me for my postings, as had they done so they would be sitting on a loss.
I am more than prepared to accept any critism but only when I an wrong!!!!
Since my first post here on COH, which came many years after registering for the site, and was prompted by the rampings of ADIEH, I have not been proven wrong on COH, NOR INDEED ON ANY OTHER STOCK AVE POSTED ON.
If you prefer the mindless gobbing of rampers---then I am affraid there is nothing more that I can contribute, AS i WANT TO MAKE MONEY FROM THE MARKET AND I WANT OTHERS TO DO SO AS WELL---NOT JUST RAMP MY OWN HOLDINGS
Ian I dont mind anyone discussing their shares, but here is blantant ramping.
Not only that I am the brunt of their rudeness and ignornace I dont mind as it clear shows weak characters.
I can undertand you getting daily complainst as according to may nail box many have not bought this share and have thank me for my postings, as had they done so they would be sitting on a loss.
I am more than prepared to accept any critism but only when I an wrong!!!!
Since my first post here on COH, which came many years after registering for the site, and was prompted by the rampings of ADIEH, I have not been proven wrong on COH, NOR INDEED ON ANY OTHER STOCK AVE POSTED ON.
If you prefer the mindless gobbing of rampers---then I am affraid there is nothing more that I can contribute, AS i WANT TO MAKE MONEY FROM THE MARKET AND I WANT OTHERS TO DO SO AS WELL---NOT JUST RAMP MY OWN HOLDINGS
IanT(MoneyAM)
- 10 Jul 2007 10:14
- 1712 of 2037
David,
The issue here is that for around 2 months now, the same debate has raged on this thread, essentially your negative point of view to the company, and others more positive view about the company. This discussion has been documented on this thread continuously over the past 2 months.
I am not here to say who holds the correct point of view, and I am not here to stop debate, but this discussion often becomes personal on both sides, and many users are not able to enjoy the thread due to this.
May I make a suggestion to all. please squelch any user whom you do not wish to view - then you can enjoy the debate of those you do wish to view and not have to worry about the postings of those you do not wish to view.
At the moment, this thread is the only thread we are receiving complaints about on either of our 2 bulletin boards.
As I have said time and time again debate is fine, but an ongoing debate of contrarian views which has not changed over the past 2 months is pretty meaningless to be honest.
Everyone has stated their view - now squelch away and get back to sensible debate.
Ian
The issue here is that for around 2 months now, the same debate has raged on this thread, essentially your negative point of view to the company, and others more positive view about the company. This discussion has been documented on this thread continuously over the past 2 months.
I am not here to say who holds the correct point of view, and I am not here to stop debate, but this discussion often becomes personal on both sides, and many users are not able to enjoy the thread due to this.
May I make a suggestion to all. please squelch any user whom you do not wish to view - then you can enjoy the debate of those you do wish to view and not have to worry about the postings of those you do not wish to view.
At the moment, this thread is the only thread we are receiving complaints about on either of our 2 bulletin boards.
As I have said time and time again debate is fine, but an ongoing debate of contrarian views which has not changed over the past 2 months is pretty meaningless to be honest.
Everyone has stated their view - now squelch away and get back to sensible debate.
Ian
David10B
- 10 Jul 2007 10:26
- 1713 of 2037
Ian with respect a debate on a company will continue while that company does. BBs and the compnaies themsleves thrive on that.
I said from my sendon post on COH to let te SP nw talk as had made my point.
And it is far from meaningless that COH has fallen as I said it would as opposed to rising past 50p as the majorty pushed for.
If you care to read back the documented posts you will find that it was not I who was rude and aggressive, these are the reactions of barbarians.
Furthermore I have requested in public that certain persons, if they do not like what I have to say---simply dont respeond to my posts----but its seem that like all good fans the are drawn to what I have to say----and I cant help that.
End the debate, simply just prove me wrong on COH or please let the SP do so.
You see if certain posters here also stopped their mindless posts then I too would have nothing to say---would I?
I said from my sendon post on COH to let te SP nw talk as had made my point.
And it is far from meaningless that COH has fallen as I said it would as opposed to rising past 50p as the majorty pushed for.
If you care to read back the documented posts you will find that it was not I who was rude and aggressive, these are the reactions of barbarians.
Furthermore I have requested in public that certain persons, if they do not like what I have to say---simply dont respeond to my posts----but its seem that like all good fans the are drawn to what I have to say----and I cant help that.
End the debate, simply just prove me wrong on COH or please let the SP do so.
You see if certain posters here also stopped their mindless posts then I too would have nothing to say---would I?
AdieH
- 10 Jul 2007 10:27
- 1714 of 2037
Thank you Ian for at least pointing out the obvious, lets get back to COH and totally agree about the squelching...
David10B
- 10 Jul 2007 10:40
- 1715 of 2037
Ian with respect
I am quite happy to leave the BB, I give it too much time in any event.
However please allow me to ask one open question.
If I am such an ignornant unknowledge idiot, why are they so affraid of what I have to say---best would be to laugh at the fool would it not!
After all if I know nothing, what harm could I possibly do?
I am quite happy to leave the BB, I give it too much time in any event.
However please allow me to ask one open question.
If I am such an ignornant unknowledge idiot, why are they so affraid of what I have to say---best would be to laugh at the fool would it not!
After all if I know nothing, what harm could I possibly do?
AdieH
- 10 Jul 2007 11:26
- 1716 of 2037
David it has nothing to do with you having a negative stance, it is your constant tirade against Richard Worthington, which is unfounded... I welcome other views including negative views as it makes me take stock of my position but everything is pointing towards COH being a good future investment and your stance is possibly putting potential investors off because of your view of Richard Worthington. I have seen no other person giving a valuation of 6p - 30p on COH the broker is giving a value of 66p...
David10B
- 10 Jul 2007 11:59
- 1717 of 2037
It was another poster there that mentioned the NAV initially.
I have not said one word out of place in relation to WORTHINGTON.
If you think that I have I have please show me and I WILL RETRACT IMMEDIATELY.
I have not said one word out of place in relation to WORTHINGTON.
If you think that I have I have please show me and I WILL RETRACT IMMEDIATELY.
AdieH
- 10 Jul 2007 14:23
- 1718 of 2037
As Ian says lets move on, we know your stance you know yourself the comments you've made on share holders monies and where it is disappearing this comment itself is aimed at Richard Worthington as the CEO of COH... I am not going to cut and paste all these comments... Lets agree to disagree and move on and as you've stated let the SP do the talking and maybe we will review our current positions in 6 months time... No more comments from me. Regards.
David10B
- 10 Jul 2007 15:50
- 1719 of 2037
Adieh lets be clear here, I asked you to let the SP talk after my second post---FULL STOP!
Its the shareholders' money that I am concerned over, and ultimately the buck stops with Mr Worthington.
You can cut and paste as much as you like.
Send me an invitation to the next AGM as an interest party with shall we say a locus standi interest in the name of fair play.
I have nothing more to say, until that is you start ramping again ,ie 1 within a year etc.
The ball is with you.
Its the shareholders' money that I am concerned over, and ultimately the buck stops with Mr Worthington.
You can cut and paste as much as you like.
Send me an invitation to the next AGM as an interest party with shall we say a locus standi interest in the name of fair play.
I have nothing more to say, until that is you start ramping again ,ie 1 within a year etc.
The ball is with you.
AdieH
- 10 Jul 2007 17:13
- 1720 of 2037
Another large buy at the end of the day, seems to be a pattern here, find it strange that we haven't been issued an RNS maybe it is Lehman again... if so we should be due an RNS, does anyone know at what point they have to keep updating last time was about a million increase?
cynic
- 10 Jul 2007 17:20
- 1721 of 2037
as the chart in the header shows, there is a fair amount of resistance around this level so it is not unreasonable to see sp taking a breather after its recent rises .... so long as it does not tumble dramatically, even if only brought about by general market malaise, it is not unreasonable to expect sp to take a run at getting through the 44p barrier ...... i suspect it will take more than one effort to do so, but once that happens, there is good upside potential.
David10B
- 10 Jul 2007 17:23
- 1722 of 2037
On what do you base your good upside potential cynic, it would be nice to get an intelligent point of view.
cynic
- 10 Jul 2007 17:38
- 1723 of 2037
as i inexpertly read these things, it seems to me that there is only slight resistance at 46 and then nothing until the all time high is reached at about 50 ..... this latter will probably prove a reasonably stern psychological barrier, but of course after that, one is in clear water.
that said, and i have said it before, it gives me concern (or it would do if i was investing my money) that COH does not seem to have a solid homebase, yet it thinks it has the knowledge and strength and financial and organisational skills to open up willy-nilly abroad ...... feels to me like a great leap of faith for both the management and the investors!
that said, and i have said it before, it gives me concern (or it would do if i was investing my money) that COH does not seem to have a solid homebase, yet it thinks it has the knowledge and strength and financial and organisational skills to open up willy-nilly abroad ...... feels to me like a great leap of faith for both the management and the investors!
David10B
- 10 Jul 2007 19:39
- 1724 of 2037
Fair comment, fairly put with a taste of panache.
So then if I may come back with a supplimentary, let me please ask you, are you concerned, or would you be if you were an investor, over the content of the Numis Note. Strong on flavour as it is, but low on substance, being as there is not, any mention of Nett profits, but plenty on the strong like for like sales which to me are indicating a high(overly so) operating cost.
So then if I may come back with a supplimentary, let me please ask you, are you concerned, or would you be if you were an investor, over the content of the Numis Note. Strong on flavour as it is, but low on substance, being as there is not, any mention of Nett profits, but plenty on the strong like for like sales which to me are indicating a high(overly so) operating cost.
cynic
- 10 Jul 2007 20:13
- 1725 of 2037
i have not read the Numis note
David10B
- 10 Jul 2007 20:26
- 1726 of 2037
would you like to its on this thread above
AdieH
- 10 Jul 2007 20:27
- 1727 of 2037
Would I suggest you go onto the COH website David and have a look at the financials might save an awful lot of your time on this thread... You will find all the details you require including Nett Profit...
ptholden
- 10 Jul 2007 20:43
- 1728 of 2037
From the Interims cash flow statement dated 30 November 2006:
Cash at Bank and in hand 2.26M
Recent fund raising 3.89M (less expenses which I would expect to be in the region of 100-200k)
Total of 6.15M say 6M less the expenses for the fundraising.
Last month according to Numis the cash position stood at 5.3M
Since Novemeber cash burn has been 700k.
2006 total operating expenses for six months (again drawn from the Nov 2006 Interims) somewhere in the region of 4M
So looking at the last six months it would appear that 3.3M has come from somewhere in general terms, now I wonder where that came from?
Seems COH must be selling the odd cup of coffee now and again, especially when noting the following:
"The recent fund raising, together with current cash flows and resources, means we now have the debt free capacity to invest some USD $20 million over the next two to three years in central Europe in new stores and support infrastructure."
All in all I don't think COH shareholders need to worry where the money is going, the cash position appears quite resilient despite the additional investments. Mostly done on the back of a fag packet, but much better than the scaremongering (err, plain lies) that seems to have infested the thread since the arrival of a certain loony.
pth
Cash at Bank and in hand 2.26M
Recent fund raising 3.89M (less expenses which I would expect to be in the region of 100-200k)
Total of 6.15M say 6M less the expenses for the fundraising.
Last month according to Numis the cash position stood at 5.3M
Since Novemeber cash burn has been 700k.
2006 total operating expenses for six months (again drawn from the Nov 2006 Interims) somewhere in the region of 4M
So looking at the last six months it would appear that 3.3M has come from somewhere in general terms, now I wonder where that came from?
Seems COH must be selling the odd cup of coffee now and again, especially when noting the following:
"The recent fund raising, together with current cash flows and resources, means we now have the debt free capacity to invest some USD $20 million over the next two to three years in central Europe in new stores and support infrastructure."
All in all I don't think COH shareholders need to worry where the money is going, the cash position appears quite resilient despite the additional investments. Mostly done on the back of a fag packet, but much better than the scaremongering (err, plain lies) that seems to have infested the thread since the arrival of a certain loony.
pth
David10B
- 10 Jul 2007 21:23
- 1729 of 2037
HARDLY PITHY read the Numis note, being the most recent figures that we have. 67 stores on average each making just over 400 quid per anum I wonder where the 3.3 Million came from then?
If we have 4 million in operating cost for 6 month, then it safe to assume 8 million for 12 months to run 67 stores, that equates to 11,940 runing costs for each store. Traditionally the margin on coffee sales is high around 70% . So lets be generous and give them 50%.
Each store should be "netting" a 1000 per week, otherwise it not worth the bother! That should give nett profits of 3.5 million pounds per annum.
PITHY says they have 33.5 MILLION SURPLUS IN SIX MONTHS i WOULD LIKE TO WHERE FROM.
WHICH EVER WAY YOU LOOK AT THE FIGURES THEY JUST DONT ADD UP AS EVEN TAKING AN UPWARD SLIDING SCALE PROFIT/COST RATIO OVER THE PAST 7 YEARS AND ALLOWING FOR NEW OPENINGS COMING ON LINE---THE CASH FLOW IS NOT CONVERTING INTO A REASONABLE PROPORTION OF NETT PROFITS, IS JUST NOT THERE
If we have 4 million in operating cost for 6 month, then it safe to assume 8 million for 12 months to run 67 stores, that equates to 11,940 runing costs for each store. Traditionally the margin on coffee sales is high around 70% . So lets be generous and give them 50%.
Each store should be "netting" a 1000 per week, otherwise it not worth the bother! That should give nett profits of 3.5 million pounds per annum.
PITHY says they have 33.5 MILLION SURPLUS IN SIX MONTHS i WOULD LIKE TO WHERE FROM.
WHICH EVER WAY YOU LOOK AT THE FIGURES THEY JUST DONT ADD UP AS EVEN TAKING AN UPWARD SLIDING SCALE PROFIT/COST RATIO OVER THE PAST 7 YEARS AND ALLOWING FOR NEW OPENINGS COMING ON LINE---THE CASH FLOW IS NOT CONVERTING INTO A REASONABLE PROPORTION OF NETT PROFITS, IS JUST NOT THERE
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