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In these troubled times. Dropped a bit from recent highs but last set of results proved this is a strong growth story. None of your uncertainties like the O&G sector, just churning out the rising metrics of growth. Sit back and watch your worth grow at NTBR. Your relaxing stock with no surprises round the corner.
G
Bought 4K @ 78.4p ish ... holding 190k ... brexit stuff muddying the water?
Bought 3k @ just under 81.5p ... holding 186k
Bought 3k by market order ... I think I paid 80p ... Fiki or kill thing didn't work
40k @ 80.25p ... never tried one of these before
Correction 79.5p
Bought 5k @ 79.5k ... holding 180k ... not easy to buy ... I think the results are really good!
Sold 12k @ 78.6p ish ... holding 175k ... half year results expected this month
Sold 3k @ 77p ... holding 187k ... very little liquidity!
Bought 15k @ 70p ... holding 190k ... big red day yesterday! ... Across the market
has delivered a bit of a southpaw to the market, this one has thankfully gone into hibernation with only one trade Friday and none so far today. I do wonder what the effect a Brexit no deal or a bad deal would be on the construction industry, More than an aberration?
extract --- interim results will show operating profit (stated prior to the impact of transaction costs and amortisation associated with the H Peel acquisition) ahead of prior year results.
My comment...
Not really sure what that actually means in terms of underlying EPS implications ... possibly an improvement? but could go either way?
Agreed, this stock is like the trusty marmalade sandwich which you keep under your hat for years and years
Love the confidence here. No danger of a Bearexit for me as I am not selling up and I am strictly no deal on this one with MM's. Only poor weather would send the fur flying here. Already ahead of expectations and a nice divi so accumulating these over the winter will make life far more bearable in the spring.
Hi Lemmink,
Thanks for the response. I agree with your sentiment re price as this appears a very cheap and ‘solid’ investment. Possibly, the sector/profile doesn’t attract much interest but i’ve enjoyed your trading updates on an otherwise very quiet board
Good luck!
Hello, my last buy was a mistake I was trying to get the dividend but I'm pretty sure it was xd now... I think my trading on this had been harmless/ vaguely profitable ... I just kind of do it to maintain a reasonable level of exposure and try to defend the price a bit ... I think because of the liquidity it's possible to be price maker from time to time. I would like it to be 80p for a while as that would fit with my take on things, but it seems to have slackened off a bit.
Hi Lemmink
I've held these for years as the spread suggests short term trading will be to the benefit of the market makers rather than myself. As such, I'm rather puzzled by your trading in and out over relatively small price movements. Given the spread I'm seeing is 5%+, how are you realising any substantive gain having sold at just over 80p and bought back at 76.5p?
The London stock exchange website had it flagged as XD today ... I thought it isn't till 10th or 11th when it goes ex dividend??
as it struggles to find its bearings. I am left scratching my head to think of any pawsibe explanation for today's fall unless there is some BREXIT type fear for the construction industry. A stonking buying opportunity imo.
Bought 25k & 76.5 ... holding 175k
Sold 25k @ a little over 80p each ... holding 150k
Correction to ..."I think there is a 4p a year drag on cash flow per share..." I think I might mean to say 4p a year drag on some thing else per share ... then again maybe not ?? ... confused! ... oh I don't know!
https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/NTBR/13718188.html
I make it underlying / adjusted EPS of 11.3p vs 11.2p in the previous year ... so I think the acquisition of H Peel is currently just about proving to be earnings enhancing despite the 461,538 shares issued (nominally) at 82p ish in part consideration for it, and despite the dilution arising from the exercising of some staff options at much lower prices.
They give adjusted EPS at 12.5p for the year and their calculations are given in note 3 to the accounts. The profit figure they get is circa £200k higher than mine and they divide it by 18.27 million shares instead of the 18.5 million I used. According to the rns dated 12 April this year there are now 18,511,722 shares in existence and a further 369,540 in treasury.
Cash flow per share (excluding changes in inventories) I get at 18.7p vs 15.6p a year previously, using 18.5 million shares for both years.
I think there is a 4p a year drag on cash flow per share that will persist for another year or so due to the earn out arrangements, it could be more if H Peel meet the criteria triggering contingent extra consideration for the acquisition... once this is out of the way underlying EPS could improve by 3p or more?
Net debt stands at 8.6p a share according to my calcs and includes 5p of earn out costs to H Peel (deferred consideration).
Limit order (expiring 29/6/18) set to sell 5k @ 84p
Hi Lemmink. Yes the puns ae irresisttible. Worth it alone to hold these. I will sell my holdings on a name change :0 North of a pound? I honestly think we can get there. A progressive divi is the lure and the headline but the value is that we have had quite a few consecutive quarters where no shocks or downgrades have emerged.. This is a recovery play underpinned by a good divi. I saw on the other board that 150p achievable OVER TIME with NTBR and each update gives me more confidence that we can make that figure and more. I can't understand why it gets sold down but I do know I will be buying more at the potntial here is really good.