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Son of Tanfield ?
"The Board would therefore expect the initial cash proceeds to the Group of the Potential Disposal, should it be completed, to be sufficient to pay off all existing Group bank borrowings, provide significant operating cash and the Company would retain a 20 per cent. interest in the ongoing operations of the Laser Business."
Wow - unbelievable. Best I can tell, rather than sell the company and distribute the net proceeds to shareholders they've come to arrangement whereby they continue to collect salaries whilst providing zero return to shareholders.
Started: NickRubens, 4 Sep 2023 15:09
Last post: NickRubens, 4 Sep 2023 15:09
Halved in value today from last Fridays after hours RNS. Doesn't look to have much of a future for current shareholders but an asset management co just invested around half a million pounds sterling at 5.5p a share?
Started: Dinoken, 15 Aug 2023 12:08
Last post: Dinoken, 1 Sep 2023 21:19
Shares to be suspended. Loss making and unable to refinance. Glad I was not suckered into the subscription...
IMO back to the future is their only hope. Having said that, if they got back to where they were before, according to the laws of causuality, the paradox would result in the implosion of the existing universe. IMO no hope ...
Sad indeed. I hope there is a future.
Sad
Group net debt excluding lease liabilities was $2.5m as at 30 September 2022 (31 March 2022: $17.0m)
All revenue no profit despite the so-called move to 'high margin' laser products. Family silver already sold, debt mounting and supply problems through to end of financial year. So much for the new positioning/strategy.
Started: Schlum, 23 Nov 2022 14:25
Last post: Schlum, 23 Nov 2022 14:25
There is a need for some decent sized director buys, to bring confidence.
Abrupt CFO departure, needs explanation.
Trading update for the new 100%laser company format would be helpful.
The p/e here must be ridiculously low.
Started: Schlum, 19 Jul 2022 21:41
Last post: Schlum, 19 Jul 2022 21:41
An RNS or update is due for SIXH.
The stand alone laser business will be profitable, the questions as to how much, we should soon hear.
Started: KoR_Wraith, 10 Mar 2022 14:15
Last post: KoR_Wraith, 5 May 2022 12:21
Indeed, the tool making business was high volume with razor thin margins; not the sort of business for a lowly capitalised entitiy. Good riddance to it if you ask me. Laser business looks much more attractive based on recent filings.
Selling family silver? Perhaps escaping legacy millstone.
Historical accounts will mean little as this is a new vehicle, debt free with a growing laser business which has a increasing order backlog.
Concentrating on the larger custom built product, designed for client needs is proving successful.
Forward looking P/e of less than 5, suggests substantial re rate is due.
Semiconductor issue notwithstanding.
The question is - what effect on operating expenses was the machine tool business having?
The reason for this question, is that the operating expenses are the issue here, the company is not really making any money. Gross profit - $12.2M. Operating expenses $10.7. Subtract finance expenses & tax, and you are left with $0.5M.
Seems the company has not been profitable and this has incurred debts. Ok they now have a chunk of money from the sale of a business, but there is a sizable debt to pay. How will they focus on growing the laser part of the business?
Also talk of exposure to microchip shortages in the interims I read. Only took a quick look. I also went back to pre covid times and still read familiar sob stories. Doesn't strike me as a growth opportunity - yet.
You can only sell the family silver once. I will keep watching from the side-lines.
*Tidied up previous post*
Sale complete and cash received.
Any thoughts on the below?:
Market Cap @ 16.15p: $24.8 million
Cash minus Debt: $6.9 million net cash
Market Cap minus net cash: $18.7 million
FY22 H1 Laser Profit: $1.8 million
Proposed Current PE = 5.2 based on FY22 H1 figures
Sale complete and cash received.
Any thoughts on the below?:
Market Cap @ 16.15p: $24.8 million (£19 million)
Debt at 30 September 2021: $14.1 million (net of forgiven PPP)
Cash from sale: $21 million
Cash minus Debt: $6.9 million net cash
FY22 H1 Laser Revenue: $15 million
FY22 H1 Laser Profit: $1.8 million
Market Cap minus net cash: $18.7 million
Proposed Current PE = 5.2 based on FY22 H1 figures
Last post: Schlum, 13 Feb 2022 22:58
Must be about time for an update. Expecting strong trading news.
Started: Schlum, 12 Nov 2021 10:26
Last post: Schlum, 15 Nov 2021 07:36
Probably correct. Excellent results and significant growth in higher margin laser operations ,bodes well.
Debt increased by $4M (albeit $2M written off under the PPP), makes me think cash flow may be (rightly) redirected to delivering the significantly increased forward orderbook prior to a dividend of any significance.
Resumption of the dividend now looks a distinct possibility.
Started: ragingcow38, 2 Sep 2021 08:09
Last post: BayGateWay, 2 Sep 2021 15:59
I see this component marking side of things doing well. Traceability of parts is important especially if you want to out source and and keep quality control.
Gone are the days when a nut is just a nut: need to know who ,where and when it was made
https://youtu.be/4aC0LnLlbbQ
A leaner and more efficient business well placed for the future
I particularly liked this bit:
· Current Group order book $22m against $11m at the same time last year.
Looking good going forward.
Started: Schlum, 9 Apr 2021 11:16
Last post: Schlum, 5 Aug 2021 09:06
Potentially looking at 70 m turnover, profitable multinational company valued at just 16 million. This is another U.K. market undervaluation.
Its the time to buy in, all time low and very positive news. Re-rate on cards. Bought at 10.5p
Do some research and decide!!
The Group's performance is above the Board's post-pandemic expectations, and
the strong increase in order activity in March improved the overall orderbook
to approximately $14 million as at 31 March 2021, almost 70% above the prior
year.
As the economies reopen , the prospects for a return to significant dividends are high.
Would be positive to see director purchases.
Started: ragingcow38, 26 May 2021 11:51
Last post: Schlum, 20 Jul 2021 14:27
Steady improvement to higher margin business.
Motoring up. Something is driving this upwards. Momentum player. Looking good. Relative strength as a % in one week is a pleasing 17.6%.
Market cap still looks unjustifiably low. Turnover, profits and dividends on the way up.
Private equity may be on the prowl. Shame really as the company has worked hard, to be on the cusp of significant progress.
This is going well, topped up yesterday and today. I am sure this will be 20p plus in a few weeks. There business is in for a massive boom.
Started: Dinoken, 20 Feb 2021 22:00
Last post: Schlum, 9 Mar 2021 11:08
Possibly clash of vision for company.
To lose one CFO may be regarded as a misfortune, but to lose 2 in less than 2 months looks like ? Why did Mitch leave, anyone ?
Started: BayGateWay, 28 Apr 2020 09:54
Last post: Dinoken, 13 Nov 2020 10:21
Single share would be the highest volume traded for whole week.
who in their right mind buys a single share?
Started: IamNo1, 5 Feb 2020 18:21
Last post: IamNo1, 5 Feb 2020 18:21
Hi Guys, Do you think 600 sp will hold up now we have left EU.as I believe they have considerable investment
in EU companies any thoughts welcome.
Started: Dinoken, 17 May 2019 23:35
Last post: Dinoken, 17 May 2019 23:35
Definitely a good move. Missed the initial company announcement on London Stock Exchange and London South East sites as it appears as a RNS-Reach rather than a RNS, and the RNS-Reach announcements do not appear in some company news item lists.
Started: Nickel_Investor, 23 Mar 2019 11:49
Last post: Nickel_Investor, 23 Mar 2019 11:49
The technical barrier to overcome if that price occurs again. 44m warrants at that level
Last post: Dinoken, 21 Mar 2019 08:58
From Hardman and Director's talk, it will be wound up in April. In addition, the restructuring of its 2020 Loan Notes frees up the money from the buyout of the pension scheme liability to use for possible acquisitions, and also provides greater financial flexibility for the group.
What a poor deal on pension fund. Should have got £8m. Must be desperate for cash to pay Dopeys salary.
Started: Dinoken, 2 Jul 2018 12:51
Last post: Dinoken, 2 Jul 2018 12:51
Anyone know when Finals due ? 4/7 last year.
Started: Buster321, 4 Jan 2018 13:21
Last post: Buster321, 4 Jan 2018 13:21
Tipped again by Master Investor. Price seems to be moving in the right direction. Good slow burn in my opinion.
Started: hugh2006, 21 Nov 2017 15:00
Last post: Dinoken, 28 Nov 2017 11:38
How much did they pay Hardman to write the report ?
Just written a very positive out look for SIXH. I think these are going to double in price in the next couple of years. I have added and going to keep for next couple of years.
Started: hugh2006, 21 Nov 2017 08:40
Last post: hugh2006, 21 Nov 2017 08:40
Good right up on Master Investor 600 Group (LON:SIXH) this morning report their six months to 30th September 2017. These figures are not stellar but they are very encouraging. There are a couple of exceptional items but, allowing for these, EPS is at 0.8p per share. Doubling this to 1.6p for a full year gives a PE of 10 at 16p. At 16p SIXH is capitalised at �17 million in contrast to tangible net asset value of the order of �38 million. This share price is far too low. 25p would be more in point.
Last post: Dinoken, 20 Sep 2017 21:31
Must have been even more desperate for cash than my post of yesterday summised. Not only the PPIX giveaway but now an additional discount placing of almost 8% of company at 13p (sp 14.5) ! Wish Cinderella would take Dupey back.
Started: ms_moneypenny, 1 Sep 2017 13:35
Last post: Dinoken, 19 Sep 2017 19:27
Must be desperate for cash. PPIX was 20p recently but SIXH only got 7p. PPIX was always very illiquid, but even so, would have thought that SIXH could have done a lot better. Not surprised sp is heading south.
Sold off its entire holding in laser diode and LED systems manufacturer ProPhotonix for £1.5m, which results in a £1m profit in the consolidated income statement, howver, proceeds will be used to reduce the debt.