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I agree with that. I have ridden out a lot of ups and downs, including the long selling down ages ago ( actually added then when Mr. Dickinson bought and came out well )
I was just looking at what might be seen as negative in what I see as a positive RNS, development and so on, though the Australian thing is a nuisance, and soured the RNS for me. A waste of time and revenue available to be had due to poor individual management there. But in fact, the individual left last October, has been replaced by inside promotion, and in January this year we had this on the website.
https://www.castletonplc.com/news/castleton-australia-goes-from-strength-to-strength/
So Australia doing well, despite a past 'execution' issue previously resolved - but it's held the company back from where it anticipated it would be by now.
That's it. Financially, the company announced a maiden dividend and at the same time FinnCap forecasts we'll be pretty much debt free this time next year. If all goes well, and I can't see why they shouldn't.
As you know, there is a much wider picture than trading over a limited period, and that is why investors continue to hold shares they favour, and ride out small ups and downs. Castleton is self-evidently in a much stronger position as a company than it was. I shall be astounded , with it's established position in the market, if Dean Dickinson's latest investment in infrastructure and products does not yield positive results throughout the year, and upward momentum will return.
It's all gone flat. Results not resonated with pi's that's for sure, and I can understand that, whilst not agreeing it for myself.
There's the Australian thing ( 10% of the business there, and resolved they say.) And there's increased expenditure as against profit. But you have to spend to add value for the company as well as from a customer's standpoint, and that's been done.
From a shareholders perspective, just on P/E, last year's actual at 107.5p was 17. That's reasonable. This year if Finncaps target of 140p met it'll be 19.9, and at the same time on unchanged profit forecast Castleton will be just £200k shy of being debt free. I know it's forecasts, but FinnCap discussed with CFO and amended their figures accordingly, set against a background of company success and FinnCap correct ( more or less ) forecasting, so it's the best I've got.
So I'm running with that.
We're in the doldrums price wise just now. Maybe there'll be new news on success arising from recent expenditure The Cloud and all that. We'll have to wait for that, and for interims for Australian news unless they do something viewed as remarkable before then.
Been at near enough this price for weeks. Over 1mil volume today, and we're down just under 1%. I'm thinking, hoping, we must have established a base level here. Anyway, all those shares over the past weeks and today starting again at this price.