Only baffling thing about the acquisition is why it was sold to Peg so cheap surely a business with that amount of cash and making a healthy profit would have cost more but that is Peg's benefit but I did wonder why ?
Regardless of the positive news I think that was and still is a selling opportunity. Maybe I will need to eat my own words but this has struggled for a long time to retain a foothold above 14p and I just can't see a reason yet for a breakout above. The acquisition looks okay assuming QRO meet 2016 forecasts. It seems unlikely though considering they have been around 15 years and only turned £110k PBT last year. Healthy net asset position. A good move but unlikely to stir much interest… Read More
That was a pleasant couple of RNS’s, very bullish AGM statement and the acquisition costing around £572k after factoring in the net asset value of the acquisition which also has £876k in cash on the balance sheet.
More of the same please along with conversion of contracts under negotiation.
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