Blatman Posted October 18, 2015 Share Posted October 18, 2015 http://uk.businessesforsale.com/uk/exciting-and-unique-british-sportscar-marque-for-sale.aspx Quote Link to comment Share on other sites More sharing options...
Marto303 Posted October 18, 2015 Share Posted October 18, 2015 http://uk.businessesforsale.com/uk/exciting-and-unique-british-sportscar-marque-for-sale.aspx Quote Link to comment Share on other sites More sharing options...
Deanspoors Posted October 18, 2015 Share Posted October 18, 2015 Hmmm, sounds very familiar doesn't it. Could be a good thing though? Quote Link to comment Share on other sites More sharing options...
Kyle Posted October 18, 2015 Share Posted October 18, 2015 I don't know...too small to be Lotus or Caterham but seemingly too big to be Noble, Ariel or BAC. 24 dealers? Oh wait...It's Westfield. Quote Link to comment Share on other sites More sharing options...
bigals Posted October 18, 2015 Share Posted October 18, 2015 1 Quote Link to comment Share on other sites More sharing options...
Chris Hooper Posted October 18, 2015 Share Posted October 18, 2015 Poor profits for that amount of turnoverTurnover: £1,890,000 Net Profit: £127,000 My thoughts exactly. Quote Link to comment Share on other sites More sharing options...
Deanspoors Posted October 19, 2015 Share Posted October 19, 2015 Profits are often hidden through buying equipment, inventory, bonuses to employees, investment back in the business, etc Quote Link to comment Share on other sites More sharing options...
bigals Posted October 19, 2015 Share Posted October 19, 2015 Profits are often hidden through buying equipment, inventory, bonuses to employees, investment back in the business, etc True, but if I was selling I would have ran Down inventory and expenditure to boost bottom line profit pre sale, but as you say we don't know what's being pulled out of the business that could be cut, still got to whish them good luck and hope they find a buyer who wants to invest 2 Quote Link to comment Share on other sites More sharing options...
dombanks Posted October 19, 2015 Share Posted October 19, 2015 Blimey is it that bad for them? Quote Link to comment Share on other sites More sharing options...
XTR2Turbo Posted October 19, 2015 Share Posted October 19, 2015 On that turnover, given the overheads, I am amazed that they are making a profit at all. Indeed if you look at the cash consumed by the business and debt to the parent they have not been in profit for much of the last 5 years. Unfortunately the kit car business model is very challenging and IMHO will survive only as a small owner operator business rather than as part of a corporate style set up. Not many people though with the cash needed to acquire and run this as a lifestyle business. So a lot of debt / goodwill will need to be written off for it to find a new owner. Obviously I hope it can be taken forward long term. Quote Link to comment Share on other sites More sharing options...
jeff oakley Posted October 19, 2015 Share Posted October 19, 2015 If true this is an interesting one to watch. On that sort of performance headline figures, that would not entice too many to jump in for sure. I suspect if it is Westfield there is a lot more behind the scenes and that is not a true indication of the worth. Quote Link to comment Share on other sites More sharing options...
darve Posted October 19, 2015 Share Posted October 19, 2015 Information on the public domain can and will only tell part of the financial "story". Would be interesting to have a read of a full set of financial statements but given the size of Westfield as a company, they don't have to file full accounts. Management information (management accounts, cashflows, budget v actuals, etc) will be of much more use when aquiring a business. Re "manipulating" the profits by not extracting profits/cash or changing working capital strategies - I would hope any accountant worth their fee wouldn't be fooled by these window dressing attempts Quote Link to comment Share on other sites More sharing options...
Captain Colonial Posted October 19, 2015 Share Posted October 19, 2015 Poor profits for that amount of turnover Turnover: £1,890,000 Net Profit: £127,000 My thoughts exactly. A 6.7% profit these days is nothing to be sneezed at. There are quite a few companies out there in the industry making a loss and being propped up by their owners and investors (no names, but we all know who I'm referring to). Frankly, any company in the industry of this type and size making a profit deserves a pat on the back. Quote Link to comment Share on other sites More sharing options...
pistonbroke Posted October 19, 2015 Share Posted October 19, 2015 Interested to know how many cars and / or kits equates to £1.9 million PA ? Quote Link to comment Share on other sites More sharing options...
dombanks Posted October 19, 2015 Share Posted October 19, 2015 so at the mo its just speculation its westfield? we all may be barking up the wrong tree as it sort of sounds like them..... with a factory visit this weekend it will make an interesting time if it is! wish i could make it. Quote Link to comment Share on other sites More sharing options...
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