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bought back 1000@185 to sell @220
so retest 180-190? ...still reckon those results were unconvincing (esp the fcf)...so vulnerable
The market savaged these shares recently, on a mildly disappointing update, and the fall looks a bit overdone to me. The company today announces that it intends to reduce its share premium account, in order to create more distributable reserves (which are currently only £3.5m). This is a good sign, as it indicates that the company intends to pay more than £3.5m to shareholders by divis and possibly share buybacks.
You would have thought the SP would have responded to this a bit.
I read this that the Company if the resolution is passed will look to pay a special dividend. Good news. Please correct me if I am wrong.
yes bizarrely so...reconciling the cf with bs movement too complex 4 me
Lots of interesting news flow for Blancco - for example here's validation from one of the best-known tech web sites from last week: Http://www.zdnet.com/obliterase-obliterates-your-data-in-a-good-way-7000035145/ Extract: "I haven't used Obliterase yet, so I can't report on how effective or how easy it is to use. The free trial is for Spiceworks and I don't currently have it running. My Spiceworks system was decommissioned a few weeks ago (Sad face). I have used other similar products such as DBAN and liked it quite well. DBAN is very good, but has its limitations. Blancco products are more versatile than DBAN is and cover a wider range of platforms. It appears, from the FAQ, that Obliterase only works on Windows and Linux-based computers. Sorry Mac types, you're out of luck." I also liked this UK Government approval from a month ago: Http://news.thomasnet.com/companystory/blancco-earns-dipcog-approval-for-file-mobile-and-lun-data-erasure-products-30004657 "Blancco Earns DIPCOG Approval for File, Mobile and LUN Data Erasure Products Press release date: September 23, 2014 LONDON, – UK's Defence Infosec Product Co-Operation Group (DIPCOG) approves erasure software for use with mobile devices, logical units (LUNs) and individual files For the first time, the UK Ministry of Defence (MoD) and other government departments and agencies have access to DIPCOG-approved data erasure products for tablets, smartphones, and LUNs from Blancco the global leader in data erasure and computer reuse solutions. Blancco Mobile and Blancco LUN have been approved to remove data classified up to the Official Sensitive (OS) level, making them the only solutions of their type to achieve this approval level. DIPCOG also stipulated that the products can receive a higher classification at the discretion of an agency's Head of Security (PSyA)."
the final year results are very confusing / very complicated, thus making it near impossible for me to value...
I genuinely feel RGS is a good share and I've made money with it last year around the same time (and may even buy again soon). But note that in his 24/09 update the NT said he picked up some at ~220, and following that, the sp continued sliding down to 193. So, probably needs patience. Sp may or may not achieve the 250/300 level any time soon.
He said yesterday: "I bought RGS after it announced £15 million in new contracts, it's been looking well oversold recently. The contract for RGS strengthens its position and it looks an interesting play to hit 250 and then 300 again." And here's news of expansion in Malaysia for Blancco: Http://www.prnewswire.co.uk/news-releases/blancco-partners-with-u-mobile-to-offer-first-malaysian-mobile-device-trade-in-program-featuring-data-erasure-280493282.html "Blancco Partners With U Mobile to Offer First Malaysian Mobile Device Trade-In Program Featuring Data Erasure Blancco is the proven data erasure solution for millions of users around the globe. As the global leader in data erasure and computer reuse solutions, Blancco offers the most certified data erasure solutions within the industry. The company serves users across a wide range of industries, including banking, finance, government and defense. The company’s products are highly valued by IT asset disposal professionals around the world. Blancco operates from an extensive network of international offices and partners across Europe, North America, the Middle East, Russia, Asia and Australasia. More information is available at www.blancco.com. KUALA LUMPUR, Malaysia, October 27, 2014 /PRNewswire/ -- Recognizing the importance of protecting customer data, U Mobile incorporates Blancco's industry leading data erasure technology Consumers who take advantage of trade-in programs for mobile devices are often unaware that factory resets will not remove all data from smartphones and tablets. Blancco, the global leader in data erasure and computer reuse solutions, is now partnering with U Mobile Sdn Bhd, Malaysia's most dynamic and innovative telco, to offer Malaysia's first trade-in program for mobile devices with services for complete data erasure. "Blancco develops the market's most advanced data erasure software, holding certifications and approvals around the world, and we are proud of our role in Southeast Asia's first mobile trade-in program with data erasure services," said Alan Puah, Managing Director for Blancco Southeast Asia. "Consumers looking to trade-up to the latest smartphone and tablet offerings can turn in old devices to U Mobile with peace of mind that all data will be removed." Factory resets simply remove indexes to data, leaving data recoverable with simple tools. U Mobile's program incorporates Blancco Mobile, which works at a device's operating system level to overwrite and fully delete all data, while providing a report as proof. Blancco Mobile is third-party tested and approved for data erasure by TÜV and DIPCOG and works with Android, iOS, Blackberry, Nokia Symbian and Windows platforms. It also adheres to requirements for data destruction set out by Malaysia's Personal Data Protection Act."
this touched £4 a few months ago, and the outlook now is much better than then.
Bouncing nicely now - and here's a new Equity Development report on RGS http://equitydevelopment.co.uk/doc/1274.pdf Summary: "Regenersis announces a slew of new business worth in excess of £15m pa (annualised) for its depot solutions division These include repair and refurbishment contract with Sony Mobile in Mexico, another with HTC in Poland, and several new repair contracts for leading insurers to be completed in Poland and Romania These significant competitive wins underpin our FY15 forecasts, which anticipate double digit organic top line growth with improving profit margins We're unaware of any other UK stock that presently offers this level of consistent sales growth (FY15 would be the 6th year in a row) - yet can be purchased on such a modest 10.7x PER; falling to 9.3x once the distortive effects of the cash pile are stripped out."
but I am only at 3k shares free carry atm (was down to 1k @350.& still waiting for lower sp...c150.to build back to decent position!...10k+)
well done...a bit of mojo back...so I am aiming for 230/50 to flip out
Looks like I timed my entry right for a change!
That's quite a big (200,000 shares - £453,000K) late reported trade from last week.
yes...somewhere here (150-200p) may end up being the bottom of this relatively severe dip...caused by results that were a curate's egg imv.. ...an sp of 150/EV around £100m would look cheap on earnings for a growing well managed company with EBIT of £12-18m (wide range cos the results were messy, in particular ongoing spend on intangibles and amortisation pretty high) ....but not cheap rel to fcf (reminiscent of gbo)...so we have to believe in the market opportunity and trust management to invest wisely ...in particular, the cf looked weak (and can anyone explain/reconcile the WC numbers in the cf with the b/s lol?...I am not an accountant, and sometimes the presentation of the figures just makes me scratch my chin more than usual) ...but Hanover (despite selling down in January to free carry is still heavily incentived...not least through juicy/?greedy isp3 to drive value sp up to £4-5)..and the growth story remains in play
Greetings Jolly, hope all is well. Managed to buy in this morning at near lowest price (so far!). Looks like a good one and rather oversold.
Contract wins.....
Very impressive...leaving PE at an age when many in IB clamouring for entry! I have a lot of respect for the self made...modesty always a virtue. I read Barbarians at the Gate earlier this year - was an interesting intro to PE accountability/scrutiny. KKR ruthless!
I didn't answer your question...perhaps is the useless answer ,,,esp for redt
You ask the critical question: management ...my background is private equity, as is my friend's... he built up his capital from scratch..leaving a v well paid cushy job @24.. and made some inspired /almost riskless (in hindsight lol) investments... and now manages his own fortune; v impressive..(and modest) ...the key different in PE is that management is accountable; this dumb money investing is frustrating cos management gets away with barely credible excesses of incompetence and greed, and we investors can do nothing except sell and move on (or, better still, short or avoid) ...I am happy to build stakes in my fav family companies (eg rbn, dwht/a and tfw)...just don't see them as explosively undervalued as these three
nm
That sounds great. I'm particularly interested to see which aspects and metrics he focuses on, so look forward to it. Hopefully he doesn't pan them lol! EV/EBIT here more expensive than some of your other favourites, but mgmt team has a very impressive record here and the company has had several years of strong growth (a big endorsement of them). Good, far reaching international exposure and seemingly good prospects for further growth. Although it may get a little cheaper, I'm happy to gain a small foothold within 10% of 52 week low. I'm effectively rebuilding my portfolio from scratch, looking for 4-6 (small/medium cap) holds and 1-2 trades at any given time. This is the first entry in the former. Will look further at the other two (both on radar for some time, traded GBO several times) - do you know consider the three to be a tier above DWHA, RBN, TFW? Appreciate all very different. I think I'd need to meet management teams (possibly independantly) before I ever invested that sort of amount...will you look to do so (if not done so already)?