Parking Eye sale agreed |
Parking Eye sale agreed |
Thu, 12 Jul 2018 - 12:54
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#1
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Member Group: Members Posts: 401 Joined: 4 Nov 2007 Member No.: 15,070 |
£57m paid in 2013, no indication of the sale price yet.
https://otp.tools.investis.com/clients/uk/c...;newsid=1113198 |
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Thu, 12 Jul 2018 - 12:54
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Advertise here! |
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Thu, 12 Jul 2018 - 13:08
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#2
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Member Group: Members Posts: 41,510 Joined: 25 Aug 2011 From: Planet Earth Member No.: 49,223 |
Cash consideration of £235m?
-------------------- RK=Registered Keeper, OP=Original Poster (You!), CoFP=Conditional Offer of Fixed Penalty, NtK=Notice to Keeper, NtD=Notice to Driver
PoFA=Protection of Freedoms Act, SAC=Safety Awareness Course, NIP=Notice of Intended Prosecution, ADR=Alternative Dispute Resolution PPC=Private Parking Company, LBCCC=Letter Before County Court Claim, PII=Personally Identifiable Information, SAR=Subject Access Request Private Parking - remember, they just want your money and will say almost anything to get it. |
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Thu, 12 Jul 2018 - 13:14
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#3
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Member Group: Members Posts: 11,094 Joined: 24 Aug 2007 From: Home alone Member No.: 13,324 |
Something odd about that deal given the P/E ratio and the underlying assets. Offset somewhere else?
This post has been edited by emanresu: Thu, 12 Jul 2018 - 13:16 |
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Thu, 12 Jul 2018 - 13:32
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#4
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Member Group: Members Posts: 4,126 Joined: 31 Jan 2018 Member No.: 96,238 |
P/E is fairly normal for a mature company in the UK but, in my view, is optimistic about future profits
The industry is about to be regulated although ParkingEye is less likely than some of its competitors to be hit by a clampdown on debt collector abuses The profits have been inflated by the £50 Legal Representative fees for claims signed by its in-house solicitor Does ParkingEye still take large numbers of cases to court ? |
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Thu, 12 Jul 2018 - 13:40
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#5
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Member Group: Members Posts: 11,094 Joined: 24 Aug 2007 From: Home alone Member No.: 13,324 |
QUOTE P/E is fairly normal for a mature company in the UK but, in my view, is optimistic about future profits I'll have to disagree with you on that one - though I wish it was. |
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Thu, 12 Jul 2018 - 14:03
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#6
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Member Group: Members Posts: 41,510 Joined: 25 Aug 2011 From: Planet Earth Member No.: 49,223 |
£235m is a lot of years payback...
-------------------- RK=Registered Keeper, OP=Original Poster (You!), CoFP=Conditional Offer of Fixed Penalty, NtK=Notice to Keeper, NtD=Notice to Driver
PoFA=Protection of Freedoms Act, SAC=Safety Awareness Course, NIP=Notice of Intended Prosecution, ADR=Alternative Dispute Resolution PPC=Private Parking Company, LBCCC=Letter Before County Court Claim, PII=Personally Identifiable Information, SAR=Subject Access Request Private Parking - remember, they just want your money and will say almost anything to get it. |
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Thu, 12 Jul 2018 - 14:35
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#7
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Webmaster Group: Root Admin Posts: 8,205 Joined: 30 Mar 2003 From: Wokingham, UK Member No.: 2 |
QUOTE P/E is fairly normal for a mature company in the UK but, in my view, is optimistic about future profits I'll have to disagree with you on that one - though I wish it was. The current P/E ratio for FTSE companies (100 and 250) is about 15, so the price seems pretty consistent with that. -------------------- Regards,
Fredd __________________________________________________________________________
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Thu, 12 Jul 2018 - 14:53
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#8
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Member Group: Members Posts: 4,126 Joined: 31 Jan 2018 Member No.: 96,238 |
That's what I found, equivalent to 7% interest
Was rather surprised because I thought P/E 6 to 10 was more normal for company valuations Perhaps expectations have been reduced by the low interest rates over the last few years This post has been edited by Redivi: Thu, 12 Jul 2018 - 14:54 |
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Thu, 12 Jul 2018 - 15:48
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#9
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Member Group: Members Posts: 9,985 Joined: 20 Aug 2008 Member No.: 21,992 |
Are they not offering a 40% discount if the buyer can pay within 14 days?
-------------------- Sometimes I use big words I don't understand in an effort to make myself sound more photosynthesis.
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Thu, 12 Jul 2018 - 16:17
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#10
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Webmaster Group: Root Admin Posts: 8,205 Joined: 30 Mar 2003 From: Wokingham, UK Member No.: 2 |
That's what I found, equivalent to 7% interest Was rather surprised because I thought P/E 6 to 10 was more normal for company valuations Perhaps expectations have been reduced by the low interest rates over the last few years Exactly. A P/E ratio of 8 was par for the course about 20 years ago, but that's risen as interest rates on cash deposits have fallen. None of which explains nonsense like Tesla's market cap, of course. -------------------- Regards,
Fredd __________________________________________________________________________
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Thu, 12 Jul 2018 - 16:29
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#11
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Member Group: Members Posts: 11,094 Joined: 24 Aug 2007 From: Home alone Member No.: 13,324 |
QUOTE Exactly. A P/E ratio of 8 was par for the course about 20 years ago, but that's risen as interest rates on cash deposits have fallen Whilst the link between price and earning and underlying interest rates was in vogue 20 years ago, you are dealing with a changed financial landscape. Macquarrie will be looking at IRR of about 30+% or a doubling in the sales price within 3 years. Capita's exit price is eye watering considering they [apparently] really haven't grown underlying profits in their tenure. So whoever sold the idea to MML/Macquarie which is likely to be the incumbent managemetn have an eye (no pun intended) on significant structural change in the market. I'm guessing that Greg Knights bill is seen as a positive rather than a negative for them. A sort of ParkingEye trojan. |
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Thu, 12 Jul 2018 - 16:34
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#12
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Webmaster Group: Root Admin Posts: 8,205 Joined: 30 Mar 2003 From: Wokingham, UK Member No.: 2 |
I'm sure Macquarrie are indeed counting on ramping up profits (and value) in a short time - that's their business model. That doesn't make any difference to the fact that the sale price and P/E ratio are in line with those of established FTSE companies, though.
-------------------- Regards,
Fredd __________________________________________________________________________
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Thu, 12 Jul 2018 - 16:36
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#13
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Member Group: Members Posts: 4,126 Joined: 31 Jan 2018 Member No.: 96,238 |
Struggling to remember the company's name but I recall during the dotcom bubble a small on-line trader that was sold for hundreds of millions of pounds
My wife worked at the time in a small branch of WH Smith that had almost identical turnover and non-existent profits Tend to agree about Tesla An early stage money-pit company but with more imagination and ambition (+ better marketing) than most It's a curious situation If your bank account has enough zeroes in the number, it doesn't matter if it's in the black or the red Your relationship with governments and financial service providers is exactly the same |
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Mon, 30 Jul 2018 - 00:25
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#14
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Member Group: Members Posts: 4,126 Joined: 31 Jan 2018 Member No.: 96,238 |
News quietly released on last day before Parliament's summer break :
Capita power of arrest for unpaid fines https://www.independent.co.uk/news/uk/polit...y-a8468681.html |
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Mon, 30 Jul 2018 - 10:02
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#15
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Webmaster Group: Root Admin Posts: 8,205 Joined: 30 Mar 2003 From: Wokingham, UK Member No.: 2 |
Capita power of arrest for unpaid fines Which since Parking Eye is being flogged off is irrelevant to this thread. -------------------- Regards,
Fredd __________________________________________________________________________
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Mon, 30 Jul 2018 - 12:18
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#16
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Member Group: Members Posts: 33,610 Joined: 2 Apr 2008 From: Not in the UK Member No.: 18,483 |
Executing court warrants. Not exactly lifting Joe Bloggs off the street for littering.
-------------------- Moderator
Any comments made do not constitute legal advice and should not be relied upon. No lawyer/client relationship should be assumed nor should any duty of care be owed. |
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Mon, 30 Jul 2018 - 13:37
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#17
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Member Group: Members Posts: 38,006 Joined: 3 Dec 2010 Member No.: 42,618 |
Executing court warrants. Not exactly lifting Joe Bloggs off the street for littering. Still, mistakes can happen. Eventually they will arrest someone in error, and I wonder in that scenario who pays the compensation bill. -------------------- If you would like assistance with a penalty charge notice, please post a thread on https://www.ftla.uk/index.php
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Mon, 30 Jul 2018 - 15:40
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#18
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Member Group: Members Posts: 33,610 Joined: 2 Apr 2008 From: Not in the UK Member No.: 18,483 |
Executing court warrants. Not exactly lifting Joe Bloggs off the street for littering. Still, mistakes can happen. Eventually they will arrest someone in error, and I wonder in that scenario who pays the compensation bill. Depends who is at fault I guess. -------------------- Moderator
Any comments made do not constitute legal advice and should not be relied upon. No lawyer/client relationship should be assumed nor should any duty of care be owed. |
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