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already. As well as benefiting EPS, this week's 1.9m share buyback at an excellent price has likely cleared out the seller.
...but still a long way to go imho.
- Miton Group have been buying and have gone above 5%, with over 8m shares: Http://www.investegate.co.uk/safecharge-int-grp--sch-/rns/holding-s--in-company/201610110835022105M/ - and SCH have bought back 1.9m shares at 215p each to satisfy future option exercises. They evidently consider this a satisfactorily cheap level to make this worthwhile: Http://www.investegate.co.uk/safecharge-int-grp--sch-/rns/purchase-of-own-shares/201610110833072104M/
Impressive RNS out today: http://www.investegate.co.uk/safecharge-int-grp--sch-/rns/launch-of-tier-one-customers/201610050705036957L/ Quite a spread of forecasts at present post-interims. Per Hemscott Canaccord go for 17.39p EPS this year and 19.43p EPS next year. Shore go for 13.23p and 15.9p respectively. Similarly with dividends - Canaccord go for 12.14p and 12.06p (not sure why it falls slightly next year), whereas Shore go for 8.22p and 9.04p. I suspect Hemscott are using Canaccord's forecasts in dollars and not sterling by mistake! Taking into account the $128m+ cash pile SCH looks pretty good value to me.
@rivaldo - I agree with some of your commentary. You are right, the cash pile is good and stripped out the p/e for the current year should be around 10 which could prove cheap. The big "but" is that while most of the other players in this space seem to be flying, SCH appears to be slowing. Unless the sp recovers quickly, they may well end up a tasty morsel for the likes of PAYS who are looking to acquire and certainly have the firepower. This is no market for small fry. Which, of course, may be good for us longs. GS
The dividend is way ahead of forecasts, and EPS is ahead of most forecasts at first look too. The outlook couldn't be better: "The Group enters the second half with a strong pipeline, benefiting from a number of significant new client launches and with our Acquiring Services performing ahead of expectations. Management are confident of growth prospects into 2017 and beyond" Given such solid results I can only assume that a few traders have over-reacted to the comment that growth is expected to be "more moderate" in H2 this year. Given the solid progress in H1 that isn't a problem for me, and there's still time for growth to pick up anyway. Worth noting that the cash pile is now up to effectively �100m...
...and the market does not like it. Unsurprising in the short term.
Strong update today but not as blistering as some others in the same sector. Cash is being generated fast and SCH needs to find a good home for it soon. So M&A action is to be expected. GS
Gervais Williams has plugged his recent investment in SCH in another new article: Http://www.whatinvestment.co.uk/financial-news/funds/2543886/the-uk-smaller-companies-iand39ve-been-buying-for-income-since-brexit-by-gervais-williams.thtml "Williams concluded his comments with the remark that, �The capital raised from selling companies in the last month has been invested in a series of new holdings such as....Safecharge in July.� ....Safecharge is a �396 million market cap company with a yield of 3.8 per cent that reported a profit of �22.7 million for the year to the end of December 2015."
Nice - the stock market legend Gervais Williams has recently been buying into SCH via his Miton Group: Http://www.moneyobserver.com/news/06-09-2016/brexit-hammered-small-caps-they-are-bouncing-back?utm_source=Newsletter2016-09-08&utm_medium=Email&utm_campaign=ContentPromotion "�We haven�t made a lot of changes; cash-generative companies with good potential for dividend growth are still very important for us.� He points to London-listed online payment operator Safecharge as one share he has snapped up since Brexit: �The share price was decimated even though the company has $100 million in cash.�"
don't take no posts as no interest, quiet bbs serve me better I find :)
I am sure there is interest. I am here for one. Bought in the middle of July expecting a jump in sp on the back of PAYS results in Aug. Sold out of PAYS post results but like the sector and this will do better in %age terms long term I think. So far so good.... (famous last words) GS
Absolutely no interest here other than myself :o)) Still cheap though imho.
Moving up once again. The two latest forecasts from Shore and Canaccord average out at 14.83p EPS this year and 17.66p EPS next year. There are also 9.0p and 10.35p dividends respectively. SCH had £103m cash and available for sale investments at 31/12/15, against the £370m m/cap, i.e 28% of the m/cap. So SCH are currently trading on an ex-cash P/E of just 12 for this year and 10.1 for next year. Which strikes me as extremely cheap.
Continuing to tick up every day. Still a long way to go imho.
Ticking up yet again - great to see upwards movement almost every day now. We know that H1 has seen "strong" trading, so the rise should continue into September's results, and likely beyond given the confidence for the full year.
Up again...and good to see both the independent analysts covering SCH being positive, with both Canaccord and Numis saying Buy. Numis have a 350p target and Canaccord go for 320p: Http://www.consumereagle.com/how-analysts-feel-about-safecharge-international-group-ltd-lonsch/28616/
Nice - 1.8m shares just been reported at 210p. Perhaps the end of an overhang
Making more good progress today. Lots more to come imho.
Nice to see the share price back above 200p - no reason why it shouldn't soon be back at 260p-280p imo.
fantastic news.. looking the finance results in march.. this company also generate a lot of cash and does very low debt. 31-Dec-15 31-Dec-14 Change US$ m US$ m % ----------------------------- ----------- ----------- -------- Revenues 99.8 76.9 30 ----------------------------- ----------- ----------- -------- Gross profit 57.7 44.5 30 ----------------------------- ----------- ----------- -------- Adjusted EBITDA* 31.1 24.7 26 ----------------------------- ----------- ----------- -------- Cash flows from operations 29.3 20.8 41 ----------------------------- ----------- ----------- -------- Reported profit after tax 22.9 14.4 58 ----------------------------- ----------- ----------- -------- Total comprehensive income 28.7 14.4 99 ----------------------------- ----------- ----------- -------- Cash balances at year end 114.9 146.5 -22 ----------------------------- ----------- ----------- -------- 7.30 US$ 5.28 US$ Recommended final dividend c c 38.
Looks like a very good trading statement today - and the likely $140m+ cash pile is now worth a few £m more since the fall in the pound: Http://www.investegate.co.uk/safecharge-int-grp--sch-/rns/trading-statement/201606280700094192C/ "The Group has enjoyed strong trading in the first half. As a result, Adjusted EBITDA* for the period will be comfortably ahead of US$16 million and the Directors are very confident of the outcome for the full year."
Yep, Saturday's SCSW definitively said Buy and concluded: "Numis forecasts record pretax profit of $US35.8m/eps 20.9 cents and we suspect the shares are overdue a bounce. Buy." Not to mention the forecast 8.4p dividend or the $115m cash pile which should fund more acquisitions.
Tipped in SCSW this month when at 232.5p. Very good momentum. Way oversold. RSI about 22 currently. divi about 3.5%. Strong AGM statement. http://www.investegate.co.uk/safecharge-int-grp--sch-/rns/agm-statement/201605180700075192Y/
SCH's cash pile amounts to around 53p per share. That leaves an "EV" of around 179p per share, against for example Shore Capital's forecast of 13.23p EPS this year and 15.9p EPS next year. With 8.22p and 9.04p dividends. And the likelihood of earnings-enhancing acquisitions. Canaccord have a 320p price target, and Numis go for 350p. Last week's AGM statement was exceedingly strong.