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has someone literally bought @70p and sold @64.5p??
well weird
#poorersod
selling @61p *after* those results imv
net cash of c20p/share (you should deduct lease liabilities), leaves EV of c40p/share at that price
that seems pretty low relative to fcf, EBITA
WH Ireland today note that the £1.75m EBITDA was well ahead of their £1.6m expectations.
They also note that the £4.1m net cash is a very positive outcome given the pandemic, but that this may be partly due to the various pandemic support schemes.
In fact, CSSG state today explicitly that "the Group has not considered it necessary to avail itself of the various Coronavirus loan support initiatives available to it, including the Coronavirus Large Business Interruption Loan Scheme".
They conclude:
"WHI view: as previously flagged, the adoption of IFRS16 changed the face both of the P&L and Balance Sheet. From a trading perspective, and with 84% of its revenues on a 1 month-plus contracted basis, Vigilant remains a strong platform for future wins, and the development of the front of house service is an emerging business driver. New contracts during the period suggest that the model remains robust, and again the company highlights that the year has started well for this activity as well. In a consolidating industry, opportunities are highlighted arising from the pandemic, whose progress remains unpredictable – this seems plausible to us."
Opportunity to rinse a few considering impairments.
Very encouraging results out today - £1.75m EBITDA represents "an uplift on previous guidance representing a better than expected performance by the Group".
And CSSG have around £4m net cash to play with - not bad for a £9m m/cap.
The increased 1.95p dividend reflects the confidence going forward.
As does the outlook, particularly given the two large recent contract wins, stating that "Trading post the year end is progressing well".
Shame that the non-cash items (goodwill, depreciation) in the headline profit mask the true core business performance, but most should see through that.
The stress on "Potential new acquisition opportunities" hopefully indicates that the cash pile is about to be utilised....
Extremely resilient business, healthy cash balance and increased dividend. Shame about the non-cash impairments.
Results tomorrow?
might explain much of sp movement over past few months
we bounced off c55-58p before...
You might be right, but what if this dip just before the results is a positive sign, because MMs want shares before some great news?
Looks too undervalued to go sub 60p IMO
now NT to sell..
sub 60p beckons imv
with 10p of cash, that's sub 50p for EBITDA of c10-15p & EBITA of 10p-ish
are quality of earnings here so poor??
dyor, all
ever tighter: 64.6-65.5p
not there yet!
the 30k sell and 10k,15k buys have injected some life here: 64.75-66.5p
pity that the MMs don't entice volume by reducing ridiculous spread
What an absurdly wide spread
but yes, completely agree, it'd be even tempted to top-up sub 65p
not any more 65-c69p
I'd be tempted to buy even more below 65p lol
And still NT to buy.
bid still creeping up (nearly 67.5p now)
Ticked up again by 1p more on the back of one very small trade
Think that says it all in terms of how quickly this could rise to 90-100p with a bit of buying pressure in the run-up to the FY Results being published!
Glad to see this recovered today - feels very positive here.
Just 8 trading sessions to go until the Final Year Results are announced.
Onwards and upwards : )
some sensible investors in here I see, me too (hehe), wondered what I weas mssing re the fall but had to have some sub 70 !
Agreed. Real spread here is now 66 / 71.
In fact I did a dummy sell at 71 and there were no shares to buy, showing we'll see another tick up before the close.
Also re MM games - they're bloody irritating. MM manipulation of the spread made it appear as though REAT rose more than it did at the close yesterday, they dropped the spread at the open to make it look like the price had fallen, people started selling / taking profits, forcing me to do the same. Otherwise think it would've gone north of 1.5-1.6p. Annoying but c'est le vie dans l' AIM
MM Games 60/68 goes to 62/70p & falls back again
but better imv to watch the real bid: now above mid @65p (&, as you post NT offer)
Just tried to buy another £1,500's worth and was unable to buy even that tiny sum!!
This is about to pop !
About time, there's been £27k of buys vs £1k of sells !
This will recover to 75p-80p very fast I feel
bid has moved up to 63p