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The results are yr-on-yr veraciously predicted by the BoD (David Morgan would find a really interesting word instead of my mundane description), so this comes as no surprise to me. The decision to delay results until April has given "David" the chance to comment on the first quarter trading, which is far more important than the already predicted results. The progress this year and beyond will eventually give us what Twiddler is predicting. Thank you TMMG (especially the employees!). Keep up the good work. SB
Hugely impressive results. As David Morgan says, this is against the backdrop of claimed Armageddon post Brexit. Acquisition through the period, and the addition of Krow post period, must surely impress the market that The Mission is going places. To achieve that and reduce borrowings is testament to the efficiency of operation as the members of the group feed off each others' strengths. Well pleased with the extra dividend, the cherry on the cake keeps on getting better.
Only small buys this morning - when will the institutions notice TMMG? David Morgan*7.3% Robert Day* 5,153,524 6.1% Herald Inv Mgmt Ltd 4,500,000 5.3% Objectif Investissement Microcaps FCP 4,230,477 5.0% Polar Capital Forager Fund Ltd 3,995,000 4.7% BGF Investment Management Limited 3,688,501 4.4%
Agree with that Twiddler - Company is becoming less reliant on lower margin business of the past and the acquisitions are clearly boosting margins which should start to get the attention of Growth screening. A growth stock on an ex-growth stock rating - I think this is one of the cheapest small caps in the UK market.
The results are in and the numbers look great on a headline basis, in fact they have come in stronger than I anticipated. I'm revising my valuation to around 100p a share in terms of fair value. It's so quiet but I expect savvy investors to pick up on the results and accelerate the buying and the price will easily climb here for a while.
The movement upwards has been on relatively small volume. The obvious indication for this is relatively infrequent trading and a small amount of share in float. Now if we look at the fundamentals this stock in comparison to the sector is discounted significantly based on current earnings, the result is strong dividend returns. I picked this stock out 5 years ago as a value investors portfolio pick along with 6-8 other stocks. Almost all the others have either gone 2-3x or been acquired at a premium. This is the only of the shares which remains essentially flat. Today I believe this is extreme value for investors with dividends set to increase further and long term earning looking strong as brexit fears continue to fizzle out. As soon as retail investors look at this through the lense of value investing rather than punting their money on an speculative bio or oil field this will be heading towards 80-90p and possibly beyond on strong earnings.
A rise like this is a rare sight. Decent amount of buys, perhaps some late filling of ISA allowances? Does it indicate the free float is limited? I hope so, this company has built and strengthened so much over recent years, leaving the share price so obviously under true value IMHO
Hi Twiddler Not easy to answer your question sensibly as my investment strategy over the years has been chaotic, erratic and quite scary at times. I break all the rules of common sense, such as keeping a range of investments to avoid any serious mishap that can occur with any business. Currently I am heavily committed here. It does not scare me because I believe in TMMG management. The RNS statements issued are honest and realistic. I do have two investments, small though they may be, that I call high risk being AMER and HUM. DYOR! In answer to your second question, I read RNS annoucements every day, looking for Companies that might appeal to me. I have to say that finding a low risk opportunity is rather difficult. Patience is a quality to have when investing (Not applicable when gambling in the minerals sector). Do you have any undervalued Companies that yiu particularly like? Kind regards. SB
Hi Stockboy, What I like is that the discussion board is also quiet. It's not traded much and continues to absolutely great value. I'm look at building a portfolio over the next 25 years and am interested in compounded returns of 15-25%. Grand targets indeed but in this kind of a bull market where there aren't many value investments around TMMG stands out for the savvy investor. I'm in no rush to sell and will only realise my position once it hits intrinsic value or 90% of it at least. In the mean time I'll be looking for other value opportunities. What strategy are you implementing for your stock discovery and due diligence if you don't mind me asking?
Hi Twiddler All here agree with your comments. The day must come when we have a serious re-rating! I am extremely happy with the divs which are nearing 4%. Thanks for your post. SB
Hi All, I've just started to build my position in TMMG. It's a company I recommended as part of my value analysis portfolio when I was 20 in 2013. At that time I had a 5 year horizon for my investments and this is the only stock which still fits that criteria. Almost all the others have risen between 100-400% and simply don't fit under a value investment. What's great is this company has grown both revenue, underlying profit and net free cash flow and ramped up the dividends while the share price remains stagnant. It's definitely lagging sector P/e by as much as a factor of a 0.5x, the MCap at below 40 million is too low given the strengthening balance sheet and predicted growth. I'm calling this as a buy with solid dividends yield with minimal downside risk and share price target of 75p. It's a real value investors dream given the lack of interest and volume even in a bull market.
Solid progress on a consistent trend for 7 years. Revenues up, profits increased, bank debt strongly reduced triggering lower borrowing costs. What's not to like? Well done all at Mission.
Thank you! 😄
Small mention in this week's edition !
Sorry, guessed wrong.
Update confirming onward and upward we hope!
Looking lively this week ! No apparent reason, apart from the obvious "too cheap" opinion of several posters here.
ROE may be relatively low for the sector but the stock is cheap, pays a divi and is growing at over 10% PA - should be 60p on a conservative estimate but is languishing still at 41p - Question is when does a big fish snap up this tasty snack - IMHO maybe this year unless management can get more Institutional interest in the stock - too cheap
Well done especially to all staff at TMMG, who year on year keep adding value to our investment. Our day will come! SB
Wasn't expecting another opportunity to add sub-45p but it was too hard to resist not doing so. Tucking them away very safely!
What a nice chap the NED is selling his shares to an II so they can make money. Very generous of him.
Looks like the market is recognising the good news now. Most welcome.
Brilliant news ! At a time when international trade has never been more important, The Mission Group's key player is to be involved at the heart of promotion. A huge "well done" to the team.
http://www.citmagazine.com/article/1447046/bray-leino-events-wins-three-year-department-international-trade-contract URL says it all Bray Leino seems to be becoming a "big hitter"
That should read "range", not rage :-)