Discover Leisure loss widens

[News]

Discover Leisure loss widens, says meeting Q4 expectations a challenge

LONDON (Thomson Financial) - Caravan and motorhome dealer Discover leisure Plc. said meeting trading expectations in the final three months of the year will be challenging due to the economic conditions.

Announcing a pretax loss of 1.8 million pounds for the six months to end February, widening from 788,000 pounds the previous year, and revenue up to 51.8<!-- start of mpu --> <script type="text/javascript">loadAd('mpu');</script>million pounds from 10.1 million, the group said its first half was in line with expectations. However, it added that the outlook for the second six months is more uncertain.

The operator of 16 branches across the UK said the normal seasonal uplift was depressed by an early Easter and worse than average weather which led to lower than expected results in March and April. The group added that better weather in May heralded a clear uplift with higher volumes in all areas which were closer to expectations.
simon.meads@thomsonreuters.com sjm 28 May 2008

 

[Jim]

I think discover leisure own Barrons the motorhome dealer among others. Looks like things are going to get tough in the motor leisure industry if they aren't already

 

[euro]

I think discover leisure own Barrons the motorhome dealer among others. Looks like things are going to get tough in the motor leisure industry if they aren't already

Indeed, hopefully the smart ones will have tucked something away for the rainy days.

Lets face it, they must have been raking it in for the past 5+ years. The volume of expensive motor homes on the road has never been higher.

 

[Peter JohnsCross MH]

Big isn't neccessarily profitable, some people have lost an awful lot of money on DSL's share price. Was a high of 30p now hovering around the 7p mark

For the full report click on interim results

Link Removed

 

[Peter JohnsCross MH]

Update, share price was 3p at end of trading last week

DISCOVER LEISURE Share Price Stock, Quote | DISL.L | GB00B19GK384 | Yahoo! Finance UK

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[Road Runner]

Update, share price was 3p at end of trading last week

DISCOVER LEISURE Share Price Stock, Quote | DISL.L | GB00B19GK384 | Yahoo! Finance UK

I think i'll get onto my broker and buy one.

He who dares wins

 

[Peter JohnsCross MH]

I think i'll get onto my broker and buy one.

He who dares wins

Go mad and buy 10 if you got 30p to spare

 

[dylan]

I think i'll get onto my broker and buy one.

He who dares wins

They don't call you del boy for nothing do they RR

 

[potjoe]

best time to buy

Now is the best time to buy that`s if you have the money!,as they can only go one way.

 

[Road Runner]

Go mad and buy 10 if you got 30p to spare

Now thats just plain reckless:Blush:

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[buccaneer]

Whats the minimun share holding for share holders perks and any one know what they might be?

 

[mnd]

I think all dealers must be feeling the pinch :Sad: Link Removed

Dave

 

[dshague]

I think all dealers must be feeling the pinch :Sad: Link Removed

Dave

there is a lot of discounting at the moment ,saw a add in mail £6000 of retail on autocruis

 

[Peter JohnsCross MH]

I think all dealers must be feeling the pinch :Sad: Link Removed

Dave

Depends on how fat you are whether the pinch hurts!


Peter

 

[Road Runner]

Dont panic things will be OK now i bought the shares

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[Peter JohnsCross MH]

Dont panic things will be OK now i bought the shares

Better get a T shirt then as a TRADE MEMBER!

 

[Road Runner]

Better get a T shirt then as a TRADE MEMBER!

Nah going to take a back seat on this one

 

[Peter JohnsCross MH]

Nah going to take a back seat on this one

CHICKEN! tut tut stand up and be counted now your a Trader:shout:

 

[moandick]

I think all dealers must be feeling the pinch :Sad: Link Removed

Dave

I haven't felt the pinch since I last played 'the Dame' in a pantomime in Andover many moons ago.

 

[Road Runner]

CHICKEN! tut tut stand up and be counted now your a Trader:shout:

I'll have to liquidate my share if this high pressure exposure continuesoh:

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[artona]

Hi

You should offer to take over the customer after care service John now you are a big player in the organisation

stew

 

[artona]

Hi

Wow, I just looked at mnd's link. The discount they can give on Ebay over the showground price is amazing.

Make & Model: Autotrail Cheiftain

New Un-Registered with Full Body & Chassis Manufacturer's Warranty

The Chieftain, with its permanent double bed, significant lounge area, fully fitted and equipped kitchen and en-suite washroom with separate shower cubicle offers you uncompromised comfort and space. Finished to the highest standards to cater for all of the requirements of the discerning motorhomer.

RRP: £63,260 on the road

Showground Price: £58,500 on the road

eBay Online Auction Price: £51,995

Just shows that despite all they say - we have to pay VAT, we only make a small mark up dealers are making fortunes unless of course they are claiming this is a special, we are selling at a loss etc

A friend of mine has just bought a MH that was being advertised for £17000. He offered the guy £12k and got it! Not a good time to be selling a motorhome


stew

 

[Terry]

In this weeks Mail (I think it was Clevland m/h's) were offering Autocruse vans at 30 k instead of 36k,so sombody is doing somthing right
terry

 

[C.L.S]

Just heard Discover closed another 2 branches today , Weston and Newport closed their doors .

Mark

 

[Oscarmax]

Now is the best time to buy that`s if you have the money!,as they can only go one way.

But I am not willing to risk 3 pence if it goes the wrong way, I would go bust

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[Oscarmax]

To be honest, we went into their shop in Cannock for a Fiamma step, one they were less than intrested, two they wanted a fortune, in the end I brought a Fiamma step from John Cross for much less including the postage

 

[Losos]

Now is the best time to buy that`s if you have the money!,as they can only go one way.

Sorry Potjoe but after many years I've learned that a SP can always go three ways:-

a) It can go UP

b) It can stay LEVEL

c) It can do DOWN

The interesting thing is that there's loads of people on Bloomberg and in the City who'll tell you what's going to happen - They don't know anything

 

[Peter JohnsCross MH]

Sorry Potjoe but after many years I've learned that a SP can always go three ways:-

a) It can go UP

b) It can stay LEVEL

c) It can do DOWN

The interesting thing is that there's loads of people on Bloomberg and in the City who'll tell you what's going to happen - They don't know anything

Not good news from Discover

However, the company's future now depends on unsecured creditors also accepting cuts in what they are owed.
Discover Leisure said on Friday it had offered unsecured creditors, which include Britain's tax authorities, about 2.2 million pounds of the 10 million owed.
The payments, to be made over five years, would be under a company voluntary arrangement, a mechanism used by struggling retailer JJB Sports in April.
The company said if the CVA proposal is not accepted "there is a likelihood that the group will be placed into administration or liquidation".
Shares in the AIM-listed firm dropped 29 percent to 0.75 pence in Friday morning trade.

 

[madbluemad]

We were in our local Discover store three weeks ago and the place was heaving so theres no downturn in interest. I had a go at kicking tyres and noticed that a fair few vans had "sold" signs on them. I was really taken aback by the price of some of the mh's and caravans. Its a bit obvious that people aint got the money to buy in volume.
Most people would need to get involved with finance to be able to afford these vans and when you arent sure whether you going to have a job tomorrow thats the last thing you going to do.

Moving inside the shop it looked like a plague of locusts had hit it. There was no downturn on the purchase of bits and bobs.

There were very few staff around and I actually asked a customer were the water containers were. We actually had an argument about were they were until we both realised what was going on then we had a good laugh.

All in all bits n bobs goin well to established motorhomers-tuggers, van sales are going to get worse before they get better.

Jim

 

[lunarman]

A tugger friend had is van in for warranty work at the weston branch which ceased trading yesterday. He is now wondering how to get his van back. Anyone have any suggestions how he should proceed?

And Papajohn buying a motorhome is not an option

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