Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Anybody on here looked at Hud? Owns online retailer Discount dragon.
Seems to be doing ok.
https://discountdragon.co.uk/
Good interview with Kitwave's new CEO, Ben Maxted, where he talks about which acquisitions are targeted. They are well on their way to £1Bn turnover.
Dividend payout next Friday.
https://netimesmagazine.co.uk/curated/kitwave-group-interview-with-chief-executive-ben-maxted/
You shouldn't have to regret it if you keep them for a while. Yes, this is a quiet board that reflects the company. They just get on with expanding the business efficiently and growing revenue, profits & dividends with the minimum of fuss.
I much prefer this to a noisy ramping board with dozens of messages a day with a stock that goes nowhere :-)
#KITW is #2 in my portfolio after #1 IQG (also a quiet board).
Recently read an excellent article in Telegraph mentioning this share as one to add to portfolio. Did so a few days ago. Seems a very quiet one...shhh sorry if I woke anyone up. Hehe.
Excellent acquisition, 6 x earnings when you included assets and cash, and will look even more cheaper when synergies kick in from KITW..
Kitwave continue to add complementary companies to our portfolio of assets. No dilution and earnings enhancing from day one Kitwave continues to grow towards the 1bn turnover.
The company presented on here this morning - worth a look if you missed it. The shares seem likely to be steady rather than spectacular performers
Beating expectations shares can only go one way in these horrible mrkts and that's down. Ignore if you intend to stay longer than 5 minutes.
Disappointing reaction to a strong update this morning but perhaps due to a muted forward look (although they tend to under-promise & over-deliver) or higher expectations for the dividend. Looks good for the long-term and have topped up at 298p. Goes ex-div in early April.
Terrific nos from Kitwave this morning. An increased final dividend to 7•45p will please income seekers. The company is firing on all 6 cylinders with many opportunities in the pipe line.
At the current rate a £1bn revenue is not far off which is fantastic if they can keep up the acquisition rate and gross margins at c.20% which pretty much takes care of the important trading nos. Net assets of £84m equivalent to 120pps or 39% of the Co value underpins the shares. A very solid buy in an expanding sector.
Paul Young has grown Kitwave from a one shop outfit to a public Ltd company valued at over £200m in 35 years, a remarkable achievement. He will be missed.
I make it 19m look through earnings after making the appropriate adjustments to the cash flow statement which is handily the same as net profit on the income statement. In a reasonable market I think that trades at 15x easily. Especially when you consider their track record for organic and acquisitive growth.
Sprinkle falling interest rates on top and it could be even more.
Some tough nos to beat tomorrow which I expect they will.
Revs £503m
Pbt £17•8m
Div 9•25p
GP 20%
Cash £26•5m
Kitwave results are out on Tuesday. A well run and managed company, that has shown nimbleness and strategic thinking to get through the recent down turn. This could turn into a takeover target.
Https://www.wildsofoldham.co.uk/our-history/#
Family business, hopefully they have earn outs as a lot of the customers will be based on personal relationships with a business like this.
Seems to have become a standard approach for many acquisitions on the market recently.
However as it is a UK Ltd company you can check their books at:
https://find-and-update.company-information.service.gov.uk/company/12169927
The books don't look spectacular, but at least they made a profit!
What we don't know is the price paid obviously.
The RNS mentions the turnover but not how much was paid and if the business profitable. Would have liked this info to be in the RNS. Not good enough Kitwave.
I look forward to presenting record financial results to shareholders for the year ended 31 October 2023."
Why sell after this statement? The current staff are running the business and should have a good handle on things. Ben Maxted the C.O.O. will be CEO so what's the problem.
Surprised to see the share price fall this far recently. Kitwave looks to be a solid business with good long term prospects. Picked up some more shares this morning.
"...The £215m distribution company has said six times since joining the stock market that results will be ahead of expectations. That is impressive and proof that the London Stock Exchange is still capable of attracting well-run, profitable businesses to the UK stock market – it is not simply about luring in tech entrepreneurs.
Kitwave is an unsung hero. If you are partial to buying a can of Coke or a Kit-Kat when you are out and about, or you often nip to the corner shop to buy a box of fish fingers for the kids’ tea, there is a high chance that Kitwave is responsible for making sure those products are available on the shelves...."
https://www.telegraph.co.uk/investing/shares/kitwave-nimble-wholesaler-growth-potential/
Indeed it did monet2. Don't like to see insiders selling stock but heh it's part and parcel of owning part of your company. The 2 Director sales represented c.3% of the outstanding.
Foregoing a dividend of 3•75p on 2•068m shares must have hurt! Nice to be in a position to do so I guess!
Director and wife's sells over 1,000,000 shares. That killed the rise
Very happy with that update from a 260p entry a few weeks back :)
A terrific set of H/Y nos where revenues, profits and margins were all ahead of my expectations. The outlook for the rest of the year looks even better still.... with a nice divvy for income seekers.
I have traded the stock on a few occasions (something I rarely do) and only recently have taken a 'hold' position having built up a few attractively priced shares for the longer term.