London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Looks like Brandon Hire not preforming well, plus ca change. Am mildly reassured by HSS update with sale of power unit - trading in line. Am also mildly reassured that the team's work over last 3 years to radically reshape the business, become capital-lite digitally driven platform business may actually be working. Would like to know more about why they chose to sell Power albeit it improves debt profile and capex requirement dramatically. lets hope the outlook statemetn isnt too dire
VP COMMENTARY:
" General construction remains challenging, which has impacted the performance of Brandon Hire Station in particular. An operational review of this division is well advanced and the new management team is focused on actions to drive margin improvements alongside medium term strategic objectives."
Full year results on 26th April.
Ta in advance
Mostly buys until later in the day?
A month til annual results, will be interesting to see what they do with the 20 odd million from the sale of the generator arm. Would be nice to see some of the debt cleared and further tech investment.
Interesting......some hefty trades today
Wow big sells but aome chunky buys
A big realignment in shareholdings appears underway. The question remains who is selling down their holding? Only comfort today is that despite the price action sp is holding steady. Difficult for the management team who must be fed up with the constant shenanigans
And now at 1pm its up to 1.7m shares ......and not a directors purchase in sight...but then why catch a falling knife.
Another 1m+ traded already this morning. The institution is still selling down. The big question is who is it?
Agree Fevertreeman,
Whilst I regret being in at a higher previous price both here and in Speedy, both will turn at some point and we'll see a recovery in the price. I've topped up twice now sub 9p. With the asset sale so no need to call on shareholders for capital, the price will rise or we will be taken out. Patience will prevail.
Despite announcing the power division sale, which will improve the balance sheet, and confirming 2023 trading in line with market expectations, share price continues to head south. The lack of liquidity in the SME space is a big issue in the UK, and with so little institutional support, the gap between fundamental valuation and share price continues to make UK plc the bargain basement for corporate/PE shoppers. It would appear that what we have here with s/o determined to reduce/sell out their holding....over 1m traded today. Patience needed
To put it in context, the mkt cap is what £63m and they’ve just raised1/3 of market cap with power generation sale…crazy stuff and very undervalued
Yes reread it and found the cash fig at the bottom of the release. Silly of them not to highlight it
Wonder what valuation is placed upon the business as the large shareholders must be thinking we can take this private as the current low valuation
My bad, at footnote agree £20m, yet strengthens balance sheet and reduces debt thus add to bottom line as interest payments reduced etc
So 20 million cash, rather than 23?
It's not great in terms of skulduggery and has put me off investing here for the moment, not that far out though ? "Taking account of the customary transaction adjustments, cash consideration for the Disposal is expected to be £20 million"
it isnt £23 of cash - read the rns..the smart ****s at hss have given the enterprise fig. ie including the debt attached to the businesses...poor poor poor
Balance sheet strengthened and business streamlined and debt down which means interest savings too
Nice bit of news - circ £23m to add to cash so nice addition
The 2 biggest shareholders, namely Exponent & Ravensworth own 60pc . Add in Hestia and that's 65pc. So little free float.
Exponent acquired the business in 2012 & floated it in 2015, & still retain a huge stake c 33%. Turnaround started by previous CEO & Ashmore, has been buffeted by of course Brexit, Pandemic, and now Cost of Living and hit to the sector which appears to be flirting with recession. While Ashmore has done and continue to do a good job, as CEO, he must wonder what Exponent & Ravensworth are up to...Some thoughts:
1. Private Equity Bid;:Exponent know this business really well, so must be tempted to ring cash registers a second time, i.e. take it off now at ridiculous price let Ashmore do his thing, and refloat a second time. BUT to do so will need ravensorth to play ball.
2. Trade Sale/ Merger: Originally this was the most likely scenario, but the blackswans of Brexit & Pandemic put paid to that and now we have tricky market conditions, so no trade sdale at depressed prices. BUT asier to control it if the company is safely tucked under PE wing - see 1
3. Business as usual: hope that SME listed companies revive and sp starts to grab investor attention......
It was RAVENSWORTH up to 29.5%. You know what comes next.
19516071 @ 11.5 (£2.2M)
It is just under 3% so may not trigger a RNS.
Encouraging.
22 mill?..that was chunky
Some meaty buys .
Very much in agreement. Relistened to the interims presentation, and was impressed by the confidence and clarity of teh management team. Well positioned going into tough period: strong balance sheet & cash flow; rewarding s/holders with progressive divi, and clear strategy. Share price doesn't reflect the quality of the business (now) or the management. IMO, an each way positive bet : markets recognise quality and share price responds OR market doesnt and Private Equity snaps it back up