LONDON, July 7, 2026, 19:01 BST
- Caffyns showed a 6% move on some feeds, though the quoted volume was only 10 shares.
- The sell-buy spread from 350p to 450p made up 25% of the 400p midpoint.
- Stock is around 39% of March net assets. The company posted an annual loss.
Caffyns plc (LON:CFYN) popped up 24p, or 6%, in London on Tuesday, but it looked more like a microcap blip than a real rerate. AJ Bell reported just 10 shares traded, with a session high of 424p and a £11.56 million market cap. Hargreaves Lansdown had the stock ending with a 350p sell, 450p buy, and 400p close.
The 424p trade for 10 shares put the trade value at £42.40. The spread between the bid and ask hit 100p, more than four times the 24p move shown in the quote and 20 times the 5p final dividend set to go ex-dividend July 9.
| Market item | Latest reading | Investor read-through |
|---|---|---|
| Quoted move on AJ Bell | +24p / +6.0% | Big move in percent, but cash up isn’t much |
| Reported volume | 10 shares | Tiny trade size—price moves on almost nothing |
| Sell / buy quote | 350p / 450p | Spread is 25% with midpoint at 400p |
| Final dividend | 5p | Goes ex-div July 9, pays Aug. 11 if cleared |
| Market value | £11.56 mln | Trades under half reported net assets |
That’s what matters for investors. Caffyns shares don’t trade like a liquid UK auto retailer. The real price someone can get to buy or sell may be well away from the last trade, and the dividend doesn’t add much when compared to the spread.
Caffyns hasn’t posted any new regulatory news on Investegate’s feed in the past 24 to 48 hours. The last RNS was the company’s final results out June 19. London’s July 7 trading session ran from 8:00 a.m. to 4:30 p.m. BST, meaning trading had closed by the dateline.
Valuation still stands out. At £11.56 million, Caffyns’ market cap trades at roughly 0.39 times its £29.87 million in net assets at March 31. Including that £10.7 million unrecognised freehold property surplus, the ratio drops to 0.28 times the combined number, before taxes, pension issues, and trading risks.
| Balance-sheet and trading measure | FY2026 | FY2025 |
|---|---|---|
| Revenue | £270.7 mln | £275.5 mln |
| Underlying EBITDA | £3.6 mln | £5.6 mln |
| Underlying pretax result | £1.5 mln loss | £0.6 mln profit |
| Statutory pretax result | £1.7 mln loss | £0.2 mln profit |
| Net bank borrowings | £7.3 mln | £8.5 mln |
| Net assets | £29.9 mln | £29.9 mln |
Caffyns is trading at a discount for a reason. Revenue was down 2% for the year to March 31. New-car deliveries dropped 11%. Underlying EBITDA fell 36%. Used-car units gained 4% and aftersales revenue picked up 6% to £32.7 million, but it did not prevent a move to loss.
Chief Executive Simon Caffyn said the group ran into “significant trading headwinds,” but moves to boost orders and slash costs are “delivering improvement.” Trading early in the new financial year is still tough, the company said. Investegate
Borrowing is one factor keeping the asset discount in place. Net bank borrowings stood at £7.3 million, which was about 63% of the market value on Tuesday. HSBC had waived some covenant tests during the year when the company posted a loss, then swapped them for an EBITDA target. Caffyns said it hit that hurdle.
The pension deficit is lower but still a risk. Caffyns reported its IAS 19 pension deficit dropped to £1.4 million from £4.5 million. Cash contributions totaled £1.3 million for the year. The group said it needs to submit a new triennial valuation by the end of June 2027.
