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Posts: 12,284
[STTM] September's finals did err on the side of caution but were, in the main, upbeat about forward trading. Recent continued buying by non exec director suggests that the interims due soon could be as good as expected. http://www.strontiumplc.com/docs/strontium_annual_report_2009.pdf
Posts: 12,284
[STTM] The next generation of learning and adaptation to an ever changing corporate environment. http://www.strontiumplc.com/
Posts: 12,284
[STTM] Led by David Barker, an entrepreneur of boundless energy, consultancy company Strontium – itself worth a meagre £1.5 million – helps to develop smaller companies with high growth potential. Last year to June, it battened down the hatches and restructured to conserve its cash, offloading one subsidiary to management in order to focus on MiAD, a fast-growing, NHS-dedicated training and education business and The Learning Eye, a research, education and communications agency. Both are generating cash, are profitable and offer the prospect of greater returns. ‘We did a complete clean out last year,’ the no-nonsense Barker tells me, adding that Strontium still carved out a small £22,692 profit as the recession roared around it, closing the year with ‘adequate’ cash of £291,000. Sensibly, acquisitions have been put on the back burner, but Barker still plans to utilise his network of contacts to source and transform small/medium sized companies and says Strontium can fill a current equity gap. ‘We sit between the angels and the turnaround specialists’, he states. An investment in Strontium is a bet on Barker, but I believe him when he says ‘we are trying to build a long-term and sustainable business, one that will still be here in 20 years’. Strontium shares, at 11p, are worth buying and locking away.
Posts: 12,284
[STTM] focusing on MiAD, a fast-growing, NHS-dedicated training and education business.http://www.miaduk.com/
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[STTM] Announces today contract wins totalling approximately £550,000 for the month of September 2010, which represents the largest value of contract wins the Company has achieved in a single month. The Board is pleased to announce that during September 2010, the Company secured one new client and a further two new contract wins from existing clients. The contracts were secured by MiAD, a leading NHS-dedicated training and education solutions company business, and The Learning Eye ("TLE"), a management training agency based in the UK focused on delivering training and consulting services. Both MiAD and TLE are wholly owned subsidiaries of the Company. The Board believes the investment it has made in product development, client management and creative team development has significantly contributed to the Company's ability to win and execute these contracts. The Company announced on 28 September 2010 the establishment of The Learning Eye (Switzerland) AG based in Zurich, to support Strontium and its subsidiaries' growing business in Europe. During the six months to 31 December 2009, projects for work delivered to non-UK markets accounted for over 20% of revenues in the period. Commenting, David Barker, Managing Director of Strontium Plc, said: "The award of this range of business reflects Strontium's ability to develop and deliver truly international research, education and communications solutions. I am delighted with this performance and would like to thank both our existing and new clients for placing their trust in us."
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[STTM] Two developing strategies being explored. Both will add shareholder value substantially. 1) Proposed share capital reorganisation. The Board also announces that it intends to propose a share capital reorganisation comprising of a capital reduction, the result of which will enable the Company to pay dividends or undertake share buy-backs should the Board think this appropriate. 2) As market conditions improve, and in the light of the improved cash position, the Board will continue to seek out and selectively acquire high growth potential SMEs and forge partnerships both inside and outside Europe to provide improved services to our clients. The Company will continue to recruit high-quality staff to reinforce its team and to enhance its client proposition.
Posts: 12,284
[STTM] These final numbers come as no surprise to the well informed ! HIGHLIGHTS: * Strontium remains profitable, debt free and cash generative. * Like-for-like revenues on continuing operations increased by 37% to £ 2,369,178 (30 June 2009: £1,729,588). * Like-for-like profit on continuing ordinary activities before taxation increased by 437% to £198,461 (30 June 2009: £36,957). * Like-for-like total earnings per share on continuing operations increased by 429% to 1.48 pence (30 June 2009: 0.28 pence). * Cash in bank increased by 126% to £657,755 (30 June 2009: £291,025). * The Australian subsidiary, The Learning Eye International PTY Limited, was sold to local management on 30 June 2010 for a net gain of £84,444 to the Group, resulting in an overall profit from this discontinued activity of £ 63,491. * In September 2010 the Company launched The Learning Eye (Switzerland) AG, based in Zurich, to support the Company's growing business in Europe.
Posts: 12,284
[STTM]. The Board has previously announced that it proposes to undergo a capital restructure. This could involve the elimination of the share premium account currently standing at over £2Mns. This will facilitate a return to dividends and or share re-purchase.
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[STTM] Director profile. All [STTM] directors come from a pedigree corporate background and have the vast experience to steer this tiddler co to greatness, they are not in the business to destroy their corporate credentials. Their commitment is evident as director buying up of stock continues in the wake of outstanding year ended Sept results. http://www.reuters.com/finance/stocks/companyOfficers?symbol=STTM.L&WTmodLOC=C4-Officers-5
Posts: 12,284
[STTM] Some unusual out of the ordinary trades passed through the market this session. Next regulatory news service (rns) announcement will be any time after 12noon tomorrow 24th. We should have a release regarding the agm results. My guess is that the mooted share restructure will be clarified.
Posts: 12,284
[STTM] Further to the announcement made by the Company 25 November 2010 confirming that all resolutions were passed at the Company's Annual General Meeting which included a proposed reduction of the Company's share premium account by £1,200,000, the board announces that The High Court sanctioned the Company's share premium reduction at a Court hearing on 15 December 2010. The Court order for the share premium reduction together with the applicable statement of capital has now been filed and registered with Companies House. This now paves the way for dividend distribution or a share re-purchase season, as all the approvals for a share buy back were approved at the annual general meeting (AGM) my guess is this is the path the directors will follow. Personally I would prefer either a special one off divi distribution or on going dividends, but buy back appears to be the boards preferred route for shareholder value release and share price appreciation.
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[STTM] A rather morribund set of interims. The recession continues to bite on public sector spending. The offerings by [STTM] can match and indeed beat many a competitor, but the perception is lacking. http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=10801507
Posts: 12,284
[STTM] Amongst all the Corporate accounting blurb, this statement by the Board, I find significant "The Board is aware that the poor performance of the Company's shares on AIM is thwarting its ambition to grow through intelligent acquisition, merger and expansion. As a consequence, the Board is considering how Strontium can best provide shareholder value in the future." My guess is that a distribution of funds or a share buy back will be announced fairly soon.