Bought these the other day on results day and was certainly taken aback by their fantastic growth over the period focussing in on Asia. Ive copied a report from Killik Brokers who sum up the potential far better than I ever could.

Take note of the last Paragraph.

CROSBY CAPITAL Final Results

We highlighted Crosby Capital last year as an interesting opportunity. Its rather complex business structure makes it difficult to analyse and its introduction to the AIM market through a reverse takeover of a cash shell meant that investors have gradually got to know the story over the past twelve months. Nevertheless, it is fair to say that from a placing price of 15p, the rise to 29p suggests the action is underway.

The group is headed by two well known investment bankers including Simon Fry who was former head of Nomura in structured finance alongside Guy Hands. The company was established to house their interests in handling transactions in the Asian region and late last year, the first fruits were delivered with the injection of its oil and gas agreement with Medco which provided them with a carried interest over disposal proceeds above a $120 million benchmark (the expectation is for a sum significantly higher which will provide Lodore Resources with a useful cash injection). Crosby, having placed down 70 million Lodore shares for 10 million gross (5 million net to Crosby), retains 214 million shares worth around 32 million or around 15p per share.

Partially reflecting this disposal, Crosby has reflected part of the profit as it announces for the year to December 31, 2004, it generated a profit of $34 million on $55 million of revenue. The company states that the actual profit to be recognized on the Lodore transaction will be $82 million or 42 million. The total value of Crosby at 29p (new high up 3p) is 60 million. Simon Fry alludes to a healthy pipeline of new merchant banking opportunities coming through and hopes to conclude some this year.

For investors, it appears one is paying a modest premium over current assets for potential significant further upside. ENDS.

DYOR

Speculative punt, that could be a winner.

cheers GF.







Powered by IST's

Looks like you've found another good one GF. From what I can see they have a historic PE of about 4 and are in a good growth situation.

Not sure about the web site, can anyone else oblige?.

cheers GF.

Last results...............................

Crosby Capital Partners Inc
18 March 2005

Crosby Capital Partners Inc.
(the 'Company' and, together with its subsidiaries, the 'Group' or 'Crosby')
Preliminary Results - Year ended 31 December 2004

Crosby is an Asian-Focused Merchant Banking and Asset Management Business

18th March 2005

HIGHLIGHTS

Total revenue significantly increased to US$55 million (2003:US$3 million)
Profit attributable to shareholders significantly increased to US$34 million
(2003:US$4 million loss)
London listing achieved for Crosby Capital Partners Inc by way of a reverse
into Skiddaw Capital.
Secured various real assets and economic interests in the oil and gas
properties of Novus Petroleum Limited
Achieved sale of US interests in Novus Petroleum to newly AIM quoted
company, Lodore Resources Inc.
Portfolio of merchant banking deals has grown significantly
Completed first closing of the Crosby ChinaChips Investment Fund
Completed a 50:50 joint venture with E2 Capital and Softbank Hong Kong
to further develop our China focused Corporate Finance business.



Simon Fry, CEO said:

'Crosby's strategy is now firmly established.

We have a clear focus on Asia-orientated Merchant Banking and Asset Management.
We continue to explore strategic acquisition and joint venture opportunities to
develop and expand our business in both Asia and in Europe; and we remain fully
committed to delivering substantial returns for our shareholders.

Encouragingly, the number of merchant banking transactions that we are working
on continues to increase and we believe that we are now ready and capable to
capitalize on our recent successes and to take full advantage of the current
positive market environment to drive Crosby forward.

I welcome our shareholders along for the ride and am very hopeful of being able
to report further successes during 2005.'

For further information on Crosby please contact:

Simon Fry, Chief Executive Officer in London on +44 (0)207 590 2800


http://www.uk-wire.com/cgi-bin/articles/200503180700129160J.html

I just had my broker ask me about this one. Based on what I have read in the results issued on the 18th, it looks like to could have huge potential. It's a growth stock trading at a small premium to current assets with a historic PE of 4!

Looks almost too good, can anyone back up or question what I found on the fundamentals?

Tallsiii

Your fundies are correct it just trades above NAV value please see Killik note on the header last paragraph.

cheers GF.

www.crosby.com of course!

A couple of big buys have gone through. I have just topped up myself now that I know that I can believe my eyes.

Just keep patient guys.

cheers GF.

Up again and looks like it may go further.

cheers GF

And it is, its moving on up again.

cheers GF.

Have a lot of confidence in this one. It's the sort of thing that I recommend to friends and relatives. I usually avoid advising them of more speculative ventures, but I think this very likely to bring to good growth this year, along with a much more reasonable valuation.

Not surprised, going to keep on buying myself.


Cheers GF.

Looks like a treeshake going on here. No problems buyers now outnubering sellers.

cheers GF.

Well, its trading on a P/E of just over 6. way to cheap just look at the profits its making and the forward statement from the CEO.

cheers GF.

Hi Goldfinger,

Excuse my ignorance (still learning),but if they earned EPS of 15.33 cents(aprox 8p) then surely its trading on a P/E of 4 at 32.5p


All the best
Affc21

Yes the PE is 4.

More news:

RNS Number:4064K
Crosby Capital Partners Inc
31 March 2005


Crosby capital partners inc.

(the "Company" or "Crosby")

Acquisition of Significant Interest in IB Daiwa and Expansion into Japan


31st March 2005

Crosby announces that it has acquired a significant interest in IB Daiwa Corp.
("IBD"), a Japanese company which is publicly listed and in Tokyo on the Japan
Securities Dealers Association Quotation System ("JASDAQ"). IBD's stock code is
3587.

The interest is in the form of warrants to subscribe for 107 million new
ordinary shares in IBD. The warrants are exercisable into ordinary shares of
IBD at a price of Yen30 per share any time during the remainder of 2005 and
thereafter at a price of Yen31 per share any time prior to the middle of July
2006. IBD's ordinary shares are currently traded on JASDAQ and closed today at a
price of Yen18.

The warrants, when exercised, will result in a shareholding that represents just
under a third of IBD's fully diluted ordinary share capital, (assuming exercise
of all the outstanding warrants).

IBD is a Tokyo based trading company primarily interested in textiles, food
products and real estate.

Simon Fry, CEO of Crosby, said:

"I am very pleased indeed to announce what is an exciting and potentially very
significant transaction for Crosby. The acquisition of the IB Daiwa warrants,
and the likely control position that we will achieve in IB Daiwa when we have
exercised those warrants and our nominated directors have taken their place on
the board of the company, are of great strategic importance to Crosby.

"Japan is still the most significant financial market in Asia in terms of size
and diversity. It is also the most sophisticated financial market outside the US
and Europe. As the Japanese economy finally starts to recover after many years
of depression, Japanese corporations are trying to find ways to develop an even
greater involvement with Asia and in particular China.

As the leading independent merchant and investment banking firm in Asia, the
acquisition of a strategic platform in Japan is a major step forward for Crosby,
and one that I believe will be transformative for our group. Our merchant
banking activities have already seen Japanese corporations as counterparts in a
number of large and profitable transactions, and furthermore, in our asset
management business we have recently completed a fund management joint venture
with JAIC, a listed Japanese company.

It is our intention to help broaden the operating scope of the existing
businesses of IBD, and we are convinced that there is a long term opportunity
and considerable potential for Crosby's further expansion in Japan. We look
forward to providing the market with further updates on a timely basis on this
very significant step for the Crosby Group."


-ends-

For further information on Crosby please contact:

Simon Fry, Chief Executive Officer in London on +44 (0)207 590 2800
Johnny Chan, Group Managing Director in Hong Kong on +852 21692800
Andy Berry, Fishburn Hedges +44 (0) 20 7839 4321

Anyone notice this rocket in the last couple of days? GF on holiday?

They are performing well on the news of the Japan expansion. I will be sticking with them for some time.

a great call by GF! again.