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Confirmed to me that the results will be out next Thursday. Worth remembering the highlights from the year end trading update against a £5.9m m/cap:
" • Profitable outcome for the year
• Strongly cash generative throughout the year
• Year-end cash of £1.9m (31 December 2019: £850,000) "
It has DHL and Wincanton logistics as well as many other well known companies. Warehousing is expected to grow in the future and Touchstar is the company that provides the necessary equipment and software.
The results are due soon. Its products are used throughout many sectors and it has a very good reputation. The stock sadly does seem to go relatively unnoticed.
Although sometimes I wish they'd just let it go on the upside.
Everyone is in wait and see mode I suppose. Ask price is slowly ticking up, just did a dummy buy at 74.85p. Bid sat at 65 for a max 7500 shares. This seems to be the default for the mm's on this share, 7500 shares online at any time outside of the rare moments of liquidity, which is quickly shut down when any prolonged buying or selling happens either way, otherwise it's through broker only. A bit of a master class in how to manage an illiquid share.
Huge amounts of new warehouse space are to be built this year - should be good news for TST:
Https://www.thetimes.co.uk/article/warehouses-are-the-new-boom-market-2crw0p39v
"Warehouses are the new boom market
Tuesday April 06 2021
A record amount of new warehouse space is due to be built in Britain this year as developers respond to rising demand for storage from online retailers.
Research by Knight Frank, the property consultancy, found that 40 million sq ft of new space is due to be built this year, double the amount completed last year. Much of the new space has already been leased to retailers and distribution companies ordering purpose-built properties.
Online sales rose £34 billion year-on-year last year and are expected to exceed £150 billion by 2024. Every billion pounds of online sales requires about 1.4 million sq ft of warehouse space, according to Knight Frank.
etc"
Good spot - ISDM apparently have £14.5m of turnover and make a decent profit, so are quite sizeable:
"ISDM Solutions (Infrastructure – Service – Delivery – Management) has rapidly grown into an international operation, supporting global businesses from offices in Belfast, Halifax, Cambridge, Washington, and Singapore."
Also for the record, Chelverton Growth Trust are large holders here with a £552,000 holding, and they said this today in their interims:
Https://www.investegate.co.uk/chelverton-grwth-tst--cgw-/rns/half-year-report/202103300700078740T/
"Touchstar has made some positive announcements in the past six months following its period of reorganisation. Petards is some way behind, but should, in the course of the next 12 months, evidence the positive impact of the remedial work it has been undergoing. In both cases, once trading picks up, operational gearing should drive profits forward."
Delayed 10k buy at 78p. Still cannot get firm offer for even 1000 shares at new ask of 80p.
Still no firm buy quote online even for 1000 shares at new ask of 75p. Literally, no shares available.
Good to see less than £3k of buys causing a 3.5p move upwards this morning.
Bid looking strong and NT to buy online.
Going through the major shareholders list, i feel that it was Unicorn Asset Management which were unhappy. They hold around 3.5% of the shares. Let's see what happens.
Dr_Kaboom the accounts were not rejected but the rejection vote was higher than you would expect normally. This was 7 months ago and we have had no notification of any major shareholder selling up since which makes me think it cannot be of concern. As I said yesterday they changed accounting policy for leases and income recognition ( if I recall!) which may have ruffled some feathers as they did not restate previous year accounts, quite legitimately. You maybe right re red flag we will see in time but I remain confident.
Personally, i feel that high percentage rejection of financial report and auditor is a red flag.
Does make you wonder why they were unhappy with the accounts and who was unhappy! Something to with change in accounting policy or capitalisation policy possible, people get very tetchy about any change!
Wow, was browsing through the AGM votes and clearly, a few major shareholders were not happy with a few resolutions (the auditors and finals) :
https://www.touchstarplc.com/pdfs/AGM_Result_of_Proxy_Voting.pdf
Considering that there is unlikely to be news till late April, i reckon we could see your target.
BVT/TST has a history of disappointing shareholders.
belgravium/tst..
same old same old: tp sub 50p
Sells going though at 57p
New case study on the web site for expansion of a major logistics company via their warehouse operations - which couldn't hit the current industry sweet spot more if it tried:
OT : who do people get so hung up on published spreads? The real/online spread is usually much better - and TST an illiquid stock which moves very quickly. Any decent buying (or selling) will probably move the market, so the spread becomes meaningless. And for investors with a timeframe of longer than a week or two, 3-4p on top of the usual spread is meaningless anyway.
Https://www.touchstar.co.uk/blog/expect-distribution-case-study
"Expect Distribution Case Study: Warehousing and Palletised Distribution
20 January 2021
"Expect are continually investing in their IT infrastructure. A planned growth within their Bradford operations resulted in a decision to review additional RF scanning requirements. RF scanning plays a key role in supporting Expect’s IT infrastructure, providing real-time stock level updates in addition to supporting pick accuracy and operational efficiencies.
Expect were looking to implement a future proof and scalable system to support their goods in and picking operations. Expect turned to UK based rugged mobile computer and scanning specialists, TouchStar Technologies, to manage the process from specification through to testing, go live and ongoing support.
The rugged devices would need to use information from Expect’s core warehouse management system (WMS) to confirm receipt of palletised goods and what stock items to pick for goods out. To facilitate the real time data capture, TouchStar needed to ensure full connectivity with Expect’s new Wi-Fi network."
On the plus side it keeps day traders away! The liquidity of the share combined with the spread, scares off investors, as its an easy share to get stuck in. This is why I keep banging on about a dividend strategy, to attract investors and subsequent volumes! Anyway SP does seem to be sticking but still way under valued.
Exactly! How is that making a market? You have to overcome the spread + dealing costs. Crazy.
Almost 15% down as soon as you buy in lol
Looking good.