Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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At last life! I have been following this company for many years and hope one day that it's fundamentals will eventually appeal to others. At report 31/3/14, Turnover £ 7.6m v£ 5.8m Cash £700000 Net assets £6.4m 51p per share Div 1.5p per share Earnings 3.9p using actual number of shares at year end QCS final payment expected to be £80000 , actually £105000 (draw your own conclusions) B2B final payment expected to be £250000,statement 8/9/14 expect this to be exceeded. Also in statement EBITDA PLUS 22% Cash flow positive, strong earnings growth,35% below net asset value, almost 5% yield. Conservative ,cautious management,strong stake in the company. I believe that a minimum p/e of 10 would be appropriate and given the growth prospects possibly 15. If the 4 month momentum can continue( +22%) then an earnings of 4.7p is attainable.Hopefully with a lower tax charge.So a price of 47p to 70p within 6 months!!! As always DYOR but I hope maybe the IC will find it!!!
A potentially nice little company here.....reminds me of Biln, billington. Revenues more than market cap and as previously stated, generating free cash flow. They still have to pay for the acquisition of btob but this is doing well (as they say in the statement) so will no doubt enhance profitability once the acquisition is completed. All thr best mate.
Hi. Not many on here but I am listening.
Ev/ebit of approx 7 and free cash flow too.
Interesting...nav 53p..sp 31ask
The chairman stated "in our last annual report I explained that we were expecting full year revenues for 2012/13 to be marginally ahead of last years and for profits to see a small improvement.We are on track to EXCEED those expectations. My capitals
"The group has increased total revenues by over 600,000 from the levels recorded at this stage in 2011/12, and more importantly has seen an improvement in profits which for the first nine months stood at 332,800 before depreciation, amortisation of goodwill and tax." He said the company expects to be marginally ahead in full year revenues for 2012/13 compared to previous annual results.
Health and safety services provider PHSC reported a rise in revenues and profits Friday, as the group reaped rewards from two acquisitions. The group made �3.85m in sales and income for the nine months to December 31st, up from �3.24m in the comparative period. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) came to �332,800 after the deduction of �30,000 relating to one-off stamp duty and acquisition legal fees. That compared to �226,711 a year earlier. Chief Executive Officer, Stephen King, said business was boosted by strong performance from companies purchased during the period. In July the group bought Scotland-based QCS International, which specialises in environmental, and health and safety management systems. Two months later the group completed the acquisition of retail security and labelling company, B2B Links. "The benefits arising from our two acquisitions earlier in the year are beginning to come through," King said.
After the interim report,I anticipate earnings of approx 4.6p per share.If valued at current p/e that would equate to 35p. Last year 400000 pbt,extra from QCS 100000,BtoB 150000 Total 650000,with their normal tax charge this equates to 488000. Next year B to B could produce 300000 ,assuming no growth elsewhere this would lead to pbt of 800000 and earnings of 600000,5.7p per share.Share price 43p. If the market upvalued the p/e to 10 then a price of 57p could be achieved. All that needs to happen is for other investors to discover PHSC,perhaps Simon Thompson of the IC
Any projections for the SP over next 12 months please?
PHSC, the Aylesford-based provider of health, safety and environmental services to corporate and public sector clients, has signed an irrevocable agreement for the acquisition of the entire share capital of QCS International. The acquisition will complete at the end of this month. The company specialises in quality, environmental, and health and safety management systems. QCS earned adjusted operating profits of £0.1m in the year to April 2011. A consideration of £160,000 cash will be paid, together with the issue of 79,186 new ordinary shares in the capital of the company at completion, £160,000 on the first anniversary and a final payment of between £40,000 and £80,000 two years after completion, subject to certain targets being achieved.