Car repair centres JCR is now a raging buy imho following today's news.

Profitable, and second half started well, now after all the problems of a lone fraudster who has since been outed, comes the final settlement and imho secures JCR's future as well as slashing bank repayments.

Before this settlement Brewin came out with a 30p fair value note, now I expect an upgrade.

So at 22p plenty upside now. The uncertainty over JCR's claim held back the shares, but now they can fly. They also have quality 20 million turnover and an unused bank facility of 2.5 million which can be used to fund further expansion.

When you have a market cap of under 3 million all this is a bit good!!!!

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'.

A near perfect triangular breakout!

The difference this time JJ, is that there is now no need for short term speculative spurts. Trading is great, the margins improving and the bank loan under control.
All doubts that the few bears have raised have now been crushed, this was their final argument, ie that they might not get a settlement or it might rumble on at great cost for another year or even more, and today's announcement has removed that. And given its micro-cap a doubling is on the cards and this time it can hold all its gains. JCR truly has come of age as a proper investment.
Nicely long!

Nice to be back in these Hawick, I always make money out of this one.
Feel theres a lot more to come aswell.

cheers GF.

Think I will add monday aswell. Its just too cheap now that this legal action as been sorted out.

cheers GF.

Agree GF, looks a real moneyspinner from here on.

Moving up nicely, derd cheap and plenty left in this one. Hoping to see 40p pretty soon.

cheers GF.

I added 10k this morning.

Nice to see that we dont have the adfvn speculators on board this time, Hawick.

We should see a nice solid performance upwards.

cheers GF.

I think this one will get a good write up in Shares Mag and Investors chronicle.

Both have supported it in the past.

cheers GF.

Following great news of the norwich union contract a few days ago comes more tonight:
One wonders about the wisdom of putting out good news at 4.29pm!! Still the share price closed at 21.75p on a bid/offer of 22-23!!
One to watch in the morning! I reckon this stock is about to move big time. Yes I have said it before but the good news must seep through to momentum soon.

Just Car Clinic secures three-year Esure contract


Just Car Clinic has secured a three-year contract with leading web-based
insurance firm Esure.



The leading collision repair chain operates at 13 sites across the Yorkshire,
Lincolnshire and Nottinghamshire region and the Esure work will be delivered by
its Leeds, Lincoln and Hull branches.



It represents another massive boost for the firm, which recently announced that
it had strengthened its links with existing client Norwich Union and also
claimed second place in the AM50, which is an annual, definitive guide to the
top performers in the bodyshop industry. These latest developments come as Just
Car Clinic approaches its second Birthday, making the achievements all the more
impressive given the firm's relative infancy.



Chief Executive, Barry Whittles, said: "The market place is extremely
competitive and there are a lot of firms out there battling for this kind of
business.



"The fact that we have secured the Esure work for a minimum of three years is
further evidence that we are considered to be among the best in our industry.
Not only does the work bring additional job security to the teams at the three
sites, it also means that we can continue investing in training and development,
which we believe is absolutely essential if we are to continue to grow and
develop in this way."

Stonking numbers this morning, major rerating starting.
Smashing results, great chart, strong outlook, gross margins up and even feeling so good about itself considering acquisitions in 2005. Looks like they made 2.1p underlying eps in second half!

Turnover up 8.5% to #23.46 million (2003: #21.62 million)

* Profit before goodwill amortisation and taxation up 268% to #460,000
(2003: #125,000)

* Underlying EPS up 271% to 2.6p (2003: 0.7p)

* Operating cash flow strong at #710,000 (2003: #597,000)

* Significant contract wins during the period:
- Award of Esure contracts at three sites
- Increased volumes and improved approval status with Norwich
Union
* Successfully concluded warranty claim

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

"2004 has been a very significant year in the development of Just Car Clinics.
We have enjoyed record levels of growth and significant improvements in
underlying profitability.

As our sector continues to consolidate, our strong relationships with work
providers and ability to win new approvals will be central to the future
development of the Company. The Board is confident that Just Car Clinics is well
positioned to build on the progress made in 2004, with growth coming from both
existing locations and selective acquisitions."

Yes these are excelent results Harwick, cant understand the miserly buy volume?.
Or is now that we are seeing a pattern of selling after good results. Seems to be going that way.
cheers GF.

Let the weak holders out - there can't be many after these numbers, then power ahead. Be surprised if we don't get a host of broker and tipsheet or magazine buy comments in the next week or two. And remember these rose 10% on friday ahead of the numbers. Looking great. :)

PS: Might be fun if you were to alert the farm-hands to these numbers. ;)

Yup just been thinking that myself. Shares mag always follows these as does the IC, may have mised a few tip sheets as thet are usually out first week in month. Think theres 3 brokers who follow it , so we should certainly have up dates there.

cheers GF.

Cracking two way trading today - i like that, the stale bulls being replaced by new investors.

Bought some of these this morning at 30.5p/30.65p which seems to have shifted the MMs off their *rses. I had a good run with these in 2003 before their blip and they still seem on track so glad to be back.

Hi Bones, i remember you being in, great to see you back here.

Hi Hawick, thanks. I'm looking for a move to 50p in the short term. Longer term, hard to say.

Looks like progress is continuing well:

Just Car Clinics Group PLC
11 May 2005


FOR IMMEDIATE RELEASE 11 May 2005


Just Car Clinics Group plc

Annual General Meeting


The Board of Just Car Clinics Group plc announces that, at the Annual General
Meeting held earlier today, all of the resolutions, set out in the notice
convening the meeting dated 11 April 2005, were passed unanimously.

During the meeting, David Hickey, the Chairman, made the following statement:

'Trading during the first four months of 2005 has been positive, with turnover
5% higher than the equivalent period in 2004. Profitability has also improved
and is slightly ahead of the Board's expectations.'


For further information, please contact:

Just Car Clinics:
Barry Whittles, Chief Executive 07850 268369
Chris Elton, Finance Director 07702 598344

Buchanan Communications:
Tim Thompson 020 7466 5000


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

Bones don't know if you saw Harrogate's visit to the AGM.

Report from a (the!) shareholder who went to the AGM today. I know he has been a JCR holder for some years.

"Here goes

I was the only outside shareholder there !!

Started on time at 9.00 finished at 9.30 -Only lasted that long because of my questions

Issues that came out

1) Comfortable with the Brewin Dolphin note forecasting 25m sales in year - As the trading update stated. I was given a copy of this and will pdf to anyone who sends me an email brandon.barnett@authentix.com

2) I asked about growth - they do not plan any greenfield start ups since it takes too long to get them up and running and get new insurance approvals and to staff. They are looking at acquisitions - barry Whittle told me during my tour round that they are looking for single site body shops with turnover in the 750k - 2m with insurance approvals where the owner is retiring. They would always lease the site not buy the buildings.They do see growth from the existing branches

I asked if they intended to raise equity to do deals - The chairman said yes it was an option but that nothing was imminent and that nothing they had looked at yet had got through the review process.

Barry Whittle said he was looking at 2/3 a year over the next few years with turnover getting to 40m

3) On the deferred consideration Chris Elton confirmed that the repayment schedule looks something like this

) On the deferred consideration Chris Elton confirmed that the repayment schedule looks something like this

2005 - 0-
2006 - 225k ( in 4 quarterly payments)
2007 - 575k ( in 4 quarterly payments )
2008 - 500k on 1st Jan 2008

Interesting to note that the Brewin Dolphin note doesn't count this as debt - Chris Elton confirmed that internally that this is counted in the debt column !

4) The limiting factor in the business is not capacity at the sites but good technicians - Staff numbers are up 21 since the average for 2004 but they want more people - This is a recurring theme and the training and apprenticeship schemes thay have will be great for the future - they have 30 apprentices at the moment and want 100.

5) They clearly have good relationships with the insurers but Barry was very clear that getting price increases through them was unlikley.

6) They intend to try to get more manufacturers approvals especially with premium brands and this is where margin improvement can come from.

I was shown round by Barry whittle the MD after the meeting and introduced to most of the people there - Development,HR and branch manager. I was impressed with the level of detail at the finger tips of the lot of them - including the Chairman and Barry has a clear idea of what they need to do.The atmosphere in the place was excellent with everyone saying hello to me as well as being busy.

Conclusion?
A very well run company that has invested a lot of time and effort in the last 2/3 years in staff training and techonology that I think we see coming through now to the bottom line -the trading update was very positive on profitability. Almost all the staff have been with the company since the Dixon days

I don't think we will see an acquisition in the short term though and when they find the right candidate they will do it right

I am a strong holder of all my shares and I think that over the next 2/3 years we will see capital growth - Brewin Dolphin note dated 7th March has a price target of 36p

Any specific questions ask away and if I saw something relevant I will tell you

I now feel that I can call either Barry or Chris if I have future questions so a useful morning.

The bank debt is repayable :

2005 - 533k
2006 - 580k
2007 - 580k
2008 - 145k

Thus they will be debt free by Q1 2008 on current schedule."

All supremely positive. A lot of repayments are met through cashflow.

Hawick, yes I did, and we are starting to see some price action now!