YCO Group Discussion Board http://www.iii.co.uk/investment/detail?code=cotn:YCO.L&display=discussion http://www.iii.co.uk/icons/logos/uk_logo.gif http://www.iii.co.uk tag:iii.co.uk,2003:tst.9544302 http://www.iii.co.uk/investment/detail?code=cotn:YCO.L&display=discussion&id=9544302&action=detail Tue, 17 Apr 2012 11:00:00 GMT nicoforever tag:iii.co.uk,2003:tst.9364720 http://www.iii.co.uk/investment/detail?code=cotn:YCO.L&display=discussion&id=9364720&action=detail Wed, 29 Feb 2012 06:59:00 GMT florencee tag:iii.co.uk,2003:tst.9334158 By Tentative Predator ]]> http://www.iii.co.uk/investment/detail?code=cotn:YCO.L&display=discussion&id=9334158&action=detail Wed, 22 Feb 2012 13:50:00 GMT Tentative Predator tag:iii.co.uk,2003:tst.8993585
Obviously BOD are not concerned about keeping shareholders on side By florencee ]]> http://www.iii.co.uk/investment/detail?code=cotn:YCO.L&display=discussion&id=8993585&action=detail Fri, 25 Nov 2011 06:58:00 GMT florencee tag:iii.co.uk,2003:tst.8629146 http://www.iii.co.uk/investment/detail?code=cotn:YCO.L&display=discussion&id=8629146&action=detail Mon, 08 Aug 2011 13:37:00 GMT Monte Carlo Man tag:iii.co.uk,2003:tst.8449557 Welcome to the July 2011 AimZine
http://www.aimzine.co.uk/aimzine/0711/0711_C2/0711_C2.htm


In a short RNS issued on 15 June, YCO announced that it had contracted a project to build a superyacht with a leading European shipyard on behalf of a long-term client. This new motor yacht will be in excess of 80 metres in length.

The deal will deliver material revenues to YCO during the construction period up to delivery of the yacht in 2014. Commenting on the transaction YCO’s Chief Executive, Charlie Birkett, said: "We are delighted to have been chosen to undertake the contracting and project management of a yacht of this calibre. YCO is now involved with every major European shipyard and this latest project is further validation of YCO as a leader in the brokerage and management of the world's most significant superyachts."

AimZine comment: No figures were given for the value of this contract for YCO. However, it should be noted that superyachts of this size usually sell for in excess of €50 million and often for over €100 million. Thus, even if YCO only receive a very low single figure percentage commission, it would be useful revenue. See also this AimZine article on YCO which deals with commission rates.

http://www.aimzine.co.uk/aimzine/0810/0810_B1/0810_B1.cfm

YCO at a glance
+ Will benefit from economic recovery - Uncertain economic outlook
+ Continued growth forecast
- Some margin pressures
+ Benefit of restructuring programme
- Difficult conditions for acquisitions
+ Encouraging brokerage success
- Brokerage fees difficult to forecast

Code: YCO
Sector: Travel & Leisure
Price: 16p
Market Cap: £8 million
Number of Staff: 65
Location: London, Monaco, Antibes, Palma, Barcelona


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Would you like to purchase a superyacht like the one pictured here. If you would, a top of the range one it will cost you over 100 million euros. Too much for you? Well, why not charter one? YCO has a very nice yacht you can have for just $1 million per week. The world of superyachts is something that few of us encounter and as such YCO, as the only UK-listed superyacht company, may be a difficult business for investors to understand.

We introduced readers to YCO in the June edition of Aimzine (click here to read the June YCO article). In this second article on YCO, we take a closer look at the Group and review the recently published broker’s forecasts. This article is copyright of Aimzine Ltd. No part should be copied, reproduced or distributed in any way without prior consent. ADVFN will BAN those who post AIMZINE articles without prior permission.
YCO’s share price has fallen back to well below its May 2010 high – see chart below. The fall in the share price is despite the group reporting solid results and its broker issuing an upbeat research note. We note that there was some recovery in the share price at the end of July.



This article is copyright of Aimzine Ltd. No part should be copied, without prior consent.








Broker Forecasts and Brokerage
YCO’s broker, Arbuthnot, issued a research note on the Group at the end of June giving a ‘Strong Buy’ recommendation along with a target price of 25 pence. The broker published forecasts for the current year and the following two years:


Year to 31 Dec
2009
(Actual)
2010
(Estimated)
2011
(Estimated)
2012
(Estimated)


Revenue (£m)

24.69

26.65

28.40

30.28

Pre-tax
profit (£m)

0.03

0.38

0.60

0.84

Earnings per share (pence)

0.02

0.60

0.90

1.20

On these forecasts the 2012 p/e is approximately 11. The important point to note about Arbuthnot’s estimates is that they do not allow for YCO earning any br By SpikeyDT ]]> http://www.iii.co.uk/investment/detail?code=cotn:YCO.L&display=discussion&id=8449557&action=detail Sat, 25 Jun 2011 20:40:00 GMT SpikeyDT tag:iii.co.uk,2003:tst.8446563 I cannot be bothered to see how many shares have been issued but I have a feeling it would make the PE somewhat ridiculous.
By Monte Carlo Man ]]> http://www.iii.co.uk/investment/detail?code=cotn:YCO.L&display=discussion&id=8446563&action=detail Fri, 24 Jun 2011 15:22:00 GMT Monte Carlo Man tag:iii.co.uk,2003:tst.8434911 http://www.iii.co.uk/investment/detail?code=cotn:YCO.L&display=discussion&id=8434911&action=detail Thu, 23 Jun 2011 07:32:00 GMT florencee tag:iii.co.uk,2003:tst.8400865 The Times
Tiddler to Watch: YCO Group
http://www.proactiveinvestors.co.uk/columns/guardian-cfd-s-newspaper-briefing/5635/newspaper-briefing-including-battle-commences-to-define-ring-fence-terms-independent-5635.html

which buys, sells and manages super yachts for the super-rich, jumped 21/4p to 141/4p, after unveiling a commission to build an 80-metre boat estimated to be worth tens of million of pounds in a European shipyard. Buyers of the shares hope that the contract will lead to YCO winning the mandate to manage the boat later. By SpikeyDT ]]> http://www.iii.co.uk/investment/detail?code=cotn:YCO.L&display=discussion&id=8400865&action=detail Thu, 16 Jun 2011 06:22:00 GMT SpikeyDT tag:iii.co.uk,2003:tst.8399315 http://www.igindex.co.uk/spread-betting/uk-broker-ratings.html By SpikeyDT ]]> http://www.iii.co.uk/investment/detail?code=cotn:YCO.L&display=discussion&id=8399315&action=detail Wed, 15 Jun 2011 17:14:00 GMT SpikeyDT tag:iii.co.uk,2003:tst.8348844 ')" target="_new" rel="nofollow">http://www.aimzine.co.uk/aimzine/0611/0611_C2/0611_C2.htm

Despite a weak economic backdrop, AimZine’s ‘featured companies’ have continued to report much positive trading news in recent weeks.

One featured company which posted particularly encouraging results this month was Crimson Tide. AimZine contacted TIDE’s Executive Chairman to discuss the results and the Company’s prospects – see our Crimson Tide Q & A article here.

YCO Group
YCO, the Superyacht Group, issued its 2010 results on 19 May. The headline figures were most encouraging showing revenue up by 9% to £27.0 million and profit before tax up from £31,000 in 2009 to £588,000.

In the results Charlie Birkett, Chief Executive of YCO Group, commented: "Our focus in 2010 was to build on the successful restructuring programme implemented in 2009 and this has delivered impressive results across the Group. Strengthened brokerage teams and operations have helped to achieve a considerable increase in Group profitability. Current enquiry levels across all core service divisions are promising and accordingly we look forward to further growth whilst maintaining YCO's reputation for innovation and client service."

The CEO made these further comments about the outlook: “The superyacht marketplace is showing signs of gradual recovery. In 2010, the number of superyacht sales across the industry was higher than the previous year and in the first quarter of 2011 YCO has seen an increase in enquiries for sales, charter and yacht management. With several prospects also commissioning the build of new yachts, YCO is currently involved commercially with every major shipyard in northern Europe, a significant milestone.”



Even after these positive results YCO’s shares have made little progress. This is despite house broker, Arbuthnot issuing a Strong Buy recommendation and giving a target price of 33 pence. Arbuthnot has increased its pre-tax profit forecast for 2011 from £0.6 million to £0.9 million. Importantly, this forecast figure is conservative as it does not factor in any future brokerage income for the Group. Given that YCO has recently strengthened its brokerage team, we suspect that they are targetting some further revenue in this area. By SpikeyDT ]]> http://www.iii.co.uk/investment/detail?code=cotn:YCO.L&display=discussion&id=8348844&action=detail Sat, 04 Jun 2011 21:33:00 GMT SpikeyDT tag:iii.co.uk,2003:tst.8225618 http://www.iii.co.uk/investment/detail?code=cotn:YCO.L&display=discussion&id=8225618&action=detail Mon, 09 May 2011 15:55:00 GMT bigbenny tag:iii.co.uk,2003:tst.8221169

Desesseintes ,


The website says the asking price was 2,650,000 Euros!

Sandbag By sandbag ]]> http://www.iii.co.uk/investment/detail?code=cotn:YCO.L&display=discussion&id=8221169&action=detail Sun, 08 May 2011 10:34:00 GMT sandbag tag:iii.co.uk,2003:tst.8167274
Good market 10% com 60/40 split so YCO get 60% of 10% of 3.4m

Current market 3-4% com on deals 60/40 work it out.

Hardly going to buy the coffee in their Monaco office. By Monte Carlo Man ]]> http://www.iii.co.uk/investment/detail?code=cotn:YCO.L&display=discussion&id=8167274&action=detail Thu, 21 Apr 2011 15:05:00 GMT Monte Carlo Man tag:iii.co.uk,2003:tst.8166860 http://www.iii.co.uk/investment/detail?code=cotn:YCO.L&display=discussion&id=8166860&action=detail Thu, 21 Apr 2011 13:56:00 GMT Monte Carlo Man