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where you getting 5% slide from? saying 17 on here
That was bad timing!
Imagine looking at your shares on Monday evening and the price was 365p and now it it is 148p. You can understand the panic with PI’s wanting to run, as when you see a 50% hit and it slides a further 5% on the second day there is a strong psychological desire to save your arse and hence sell. Let’s see where it is on the 30th
June, I would be surprised if it is not least 250p. I was watching the order book this afternoon it has ran out of steam on the downside. GLA
Got a whisper from me clairvoyant this sucker should shift
north about 60% from here and then some, let's hope.
That the directors will not like this share price at all but new investers might, Looks like the selling has all but stopped so you can come out from underneath the tablenow.
The thing to watch is the Contingent Consideration which is about £6m a year at the moment , and is accounted for as a non-underlying operating cost,
I have used them for years for buying and selling properties. About 30 transactions I guess. Very reasonable and some good staff….especially the locums. I bought one with a title issue two years ago …got sorted out and now doubled. So very handy. They did buy other firms very aggressively so I can see only guess that has been an issue. Maybe the top people have just left. Not a holder but watching.
I am surprised at the drop, bought 10k yesterday and another 10k morning for a quick in and out, might buy another 10k for a 3 month hold, I can’t see this going much lower. I would sort the feckers out in a week, everybody get your arses in the office and start doing some proper work and client interfacing as opposed to doing house work and long walks. There will be some s-hit flying about at the pointy end of the company that’s for sure. Fingers out and start fecking performing.
I suspect that the City wasn't happy that in January the BOD were expecting a good H2 and then only in March they seem to have been taken by surprise by the further COVID problems...and the drop in business during that time
H1 Results 11th January
" We anticipate good trading in the second half, which will be against a stronger comparative, and we continue to expect our typical second half weighting. We are confident in delivering a full year performance in line with market expectations"
No...I imagine it is too late ....ooof
704,515 new ordinary shares in Knights for the acquisition of Langleys Solicitors which were valued at £2.75m
Completion is expected to take place on 25 March 2022.
They shares were priced at a value of 390p
Are Langley´s going to want more shares ...or are they going to take a massive hit on the business sale value given the share price collapse ?
Well the CEO sold about £30-40m of his stock about 6-9 months ago…writing was on the wall…
Was wondering why Gateley dropped I see now
Both seem overvalued but maybe worth a look now with the drop
The lack of cash is a worry for kgh
No clue why it was trading that high before the trading update anyway multiples were massive
Humm... what some guys don't understand is that optimistic forward metrics are not quite so meaningful when there has been, and still is, a global pandemic, a war and most likely now a dose of stagflation. KGH has certainly been hit by today's RNS, I'm sorry for existing holders of the stock, from my perspective I'm even more sorry at the collateral damage to GTLY's price!
I agree with Teddy100, worth a shot so bought in at 191p. Very steady financial performance over recent years and now that COVID is all but over they will soon be operating as normal.
Picked this up this morning, the drop seems overdone but looking at the order book it may have a few points to go. It seems a solid business definitely worth a punt at these rates, in and out.
Bounce back to 240
ooohh, Mrs. So I bought at 200!
" M&A still gives upside. After a 1H22E where revenue grew less than we had hoped, we take a look at how much M&A could make up for it. Assuming that Knights does acquire the £50m of revenue that it believes it can afford, we calculate that EPS would be boosted by 21%. We adjust our TP methodology from PER to DCF, which gives a fair value of 410p “fully invested”. We have also finalised our EPS estimates for FY22/23/24E at 22.4/26.0/27.4p, up from 21.7/23.1/25.5p. "
Knights CEO, David Beech and CFO, Kate Lewis present the interim results for the period ended 31st October 2021, to analysts.
Watch the video here: https://www.piworld.co.uk/company-videos/knights-kgh-interim-results-presentation-january-2022/
Or listen to the podcast here: https://piworld.podbean.com/e/knights-kgh-interim-results-presentation-january-2022/
another mistake that you guys are doing is to focus only on unadjusted income statement. The bottom is line (-1.7m) is distorted by a ONE OFF DEFERRED TAX CHARGE. You should add it back in your model. This results in the business being in a much better share with a loss of only -0.2m vs last year -1.1m
STRONG VALUE BUY
you guys don't understand that 166x is trailing not forward.
the market is a discounting machine therefore the price reflects FORWARD metrics thus FORWARD P/E is the one to use.
12m fwd PE is 18.5x which is much cheaper than KEYS at 41x. Looking at forward EV/EBITDA it's 11x for KGH vs 28x for KEYS !!
At this level, KGH is a strong value buy.
Still overvalued considering 1.7m net loss for 6m. 340 mil mcap? lol.
Glad to see I'm not the only one wondering why this is at the price it is. I don't own any shares in it, regretably so given the rise over the last three years. But I do have Gateley, which have done well, but sit on a P/E of about 20 when KGH are currently on 100+. Both companies have announced half year results, GTLY £62m revenue and £8.1m adj Profit, KGH c£60m T/O and adj profit c£7.6m. Revenue growth not that different 23% vs 29%.
So, why the 5X higher P/E ratio for KGH? Equally, alternatively why is GTLY so 'cheap'? Both companies have had the same relative P/Es for the past 3 years too. Any ideas?
Yes and it looks like printing new shares is the answer to any problem they have, including recent chain of losses (even for period ending on april-2020 which is rather related to pre-covid times..), each revenue increase of +20m is paired with the same cost growth.. The do say that latest 6m period is much stronger than previous one but I don't expect it to materialize into significant profit beating just formal nominal one to justify current valuation.. someone is booking too much of a future growth into price without serious evidence supporting it and without account for all the risk involved.
PE Ratio of 166x...for a regional solicitors firm...really ?