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Hello Matt,
You are more confidant than I. Whilst I still hold I am marginally concerned that Giles Hargeaves of Marlborough Special Situations has sold his holding in RST. I do not hold Marlborough but tend to keep an eye on their fund.
Therefore any further investment is not on my agenda.
BTW what part of the UK are you in. D
Company confirms double digit growth for the year, and the stock falls 11%??!! I've added to my position today, and will continue to do so on any further falls.
Hello Matt,
Charles Skinner has notified the Board of his intention to retire as Chief Executive on 31 March 2019 after 10 years in the role. He will be succeeded by Charles Bligh, who will work alongside Charles Skinner from early March 2019. He will join the Board on 11 March 2019 and assume the role of Chief Executive on 1 April 2019.
As you say this is a shame as Charles Skinner has been at the helm for 10 years. Not sure about Charles Bligh (TalkTalk). Might be a rocky few months...
However Restore are a sound company and a seemingly smooth hand-over period should ensure a recovery in share price.
DAR
....which is a shame, but hopefully he's been planning for this for a while, and has full confidence in the new man. I wonder if this had leaked out somewhere as it would explain the price weakness on seemingly no news.
Just bought a chunk more at £4. There is no stock specific bad news that I can see - just falling with the general malaise with no regard to the inherent growth in the business. I originally bought the stock at £1.60 with a rating of about 14x - it has been as high as 32x since. A t 16x earnings today, I'm very happy to buy more (and I'll keep doing so below £4).
Feeling a bit worried, mainly because I bought in at about 500 earlier this year and in 2017, tempted to top up at bottom (are we there yet?), but might watch for upturn and sell.......but will hang in, reassured by you guys re value, and fundamentals still seem good!
...16x this years earnings now. Definitely back to good value!!
Hi Matt,
t has certainly been a bumpy fer weeks, and not only RST, I did sell quite a few shares. Various companies, so I have some monies awaiting investment. Almost certain I will invest towards the end of November.
I still hold RST and I will looking to buy more.
But at the moment I am not.
Either I will miss the "boat" or get it right.
ATB
David
Been quite a bumpy ride hasn't it? I've been topping up in recent weeks. You?
Sounds reasonable mate - good luck!
Hi Matthew,
Even more pertinent was the following comment
The business and assets of TNT Business Solutions, which were acquired on 30 April 2018, performed in line with management expectations. Following completion of the acquisition, an initial enforcement order was issued by the Competition and Markets Authority which prevented the integration of the business. This order has now been lifted and the integration will proceed in the second part of the year.
The Group's Half Year results will be released on 17 September 2018.
I will be buying before 17th September for IMO the share price will shown a positive increase.
Trading for the first half of 2018 was in line with management expectations.
Seriously watching, but not at the moment. Maybe next Monday / Tuesday. The reduction in share price was IMO excessive. The markets can be brutal Thanks Matt
You could buy back in now Dave!
Hello Matt, The stop loss I set a short while ago, kicked in today. Disappointed but a nice profit. Take care and ATB David
Hello Matt, Absolutely brilliant. I don't often set a stop, but I decided to lock at �5.48, reasonable close but I have made an excellent profit - in truth I would like to see RST run & run. David
Well, up at �5.70 now. I think I'll lighten if we go above 580. Been a terrific holding this, hasn't it?
Hi Matt, I fully expected to see a price nearer �5.50 in the coming year and I do agree anything above �5.60 I could sell RESTORE. Certainly can't complain on my return. ATB David
I think 20x next years' earnings would be fair which equates to around �5.40. So, it's a bit cheap, but not hugely IMV. I'd be selling next time it gets anywhere to �6 I think David..
Hi Matt, With the final, (just around the corner) and the share price following the last 10 days, has fallen to a buy �5.24. IMO an excellent price and additional purchase is almost a must. Regards David
....but a lot of good news already in the price. Let's see where this goes now!
"Our full year results will show further significant year-on-year growth in revenue, profits and earnings per share," said Restore chief executive Charles Skinner. "This reflects the successful integration of PHS Data Solutions, acquired in August 2016, and a strong underlying performance by our businesses. "We continue to have an excellent platform for further profitable growth with strong visibility of earnings." Restore said its full year results would be released on 13 March.,....
Office services provider Restore confirmed on Tuesday that trading for the year to 31 December was in line with expectations. The AIM-traded company said its document management division, where the core records management business accounted for the majority of group profit, continued to perform well. It said its records management business also continued to trade strongly, while Restore Datashred performed "satisfactorily" and completed five small shredding acquisitions during the year, all of which had now been fully integrated. Restore Scan continued to increase revenues and operating margins, the board reported. Its relocation division, which primarily comprises the Harrow Green business, continued to achieve good year-on-year growth, with trading activity at Harrow Green said to be "strong". IT Efficient, the group's IT asset disposal business, was significantly expanded by the acquisition of The ITAD Works in February, and the combined business traded ahead of expectations.........
Yes, I am out tomorrow. Growth show in London
Best of luck Dar