Member Info for Bazzaman

Today but SP holding up well so far.

Shares in online gambling company 32Red (TTR) have bounced back this year as the market has got to grips with a new UK gambling tax regime that is expected to hit the industry's profits. The company adopted a novel strategy in the run-up to the introduction of the so-called point of consumption tax. While many gaming companies splurged on marketing to try to build scale ahead of the changes, 32Red kept its powder dry. Indeed, it's only now that the company plans to boost investment in trying to recruit new players. The company's tactics have started to look smart as it grew strongly last year despite its relatively low spending - cash profit rose by a fifth - and trading has started strongly this year, too. The new tax is expected to hit current-year profit, but with the underlying progress continuing to impress and the balance sheet looking healthy, earnings growth should kick back in in 2016, by which time 32Red's numbers will be being compared with a comparative regulatory backdrop. Indeed, growth should actually benefit from the withdrawal from the UK market of competitors who have not signed up to the new licence-based tax regime.

Inland Homes, the specialist housebuilder and brownfield land developer, posts operating profits of £9.3m for the six months to the end of December - 132% up on last time. Revenues jumped by 326% to £54.5m and pre-tax profits were 68% up at £6.1m. The company has declared a maiden interim dividend of 0.3p per share. Chief executive Stephen Wicks said: "I am very encouraged by the Group's robust first half performance, with the land bank at an all-time high and demand for homes and land continuing to be strong. "The maiden interim dividend declared today is testament to the strength of Inland's growth strategy, solid financial position and future prospects. I am confident that the Group is well placed for continued progress in the current financial year and beyond."

Final numbers for Moss Bros (MOSB) showed a fourth successive year of profit and revenue growth, with like-for-like sales up 5.5 per cent. The men's suit specialist is also powering ahead with a store re-fit programme in a bid to capitalise on a rebrand of its major product lines last autumn. Management is putting faith - and a lot of money - into these store refurbishments. The launch of six new outlets and the refit of a further 14 accounted for much of the £8m of capital expenditure in 2014. That figure will increase to £14m this year as Moss Bros upgrades 27 stores and increases its investment in inventory within the hire division. This new hire stock, which includes a range of lounge suits, is already helping to buck business in the division this year after like-for-like sales fell by 3.6 per cent in 2014 - the second successive year of decline. Meanwhile, revenues in both the retail and hire divisions were bolstered by e-commerce. Online sales grew by 59 per cent last year, and now account for 7.8 per cent of group turnover. Analysts at Peel Hunt are forecasting adjusted pre-tax profits of £5.7m and EPS of 4.4p this year, rising to £6.7m and 5.2p in 2016-17.

http://www.sharesmagazine.co.uk/articles/32red-set-for-uk-expansion#.VRPBXnmzWM8. Interesting article quoting buy with a new target price of 90p.

on Tuesday 31st could push this through 70p on the back of bumper results IMO.

Too good to be true yesterday's finish, back to parity today

finish, not sure where that came from.

I am weighted 60/40 towards INL. I have added both on a regular basis & have healthy profits on both. I expect INL to outperform TW over the next 2 years.

Results are out on Tuesday 31st March. I have 16 companies in my portfolio & Inl & TW together make up 35% & am happy with that balance whilst the Tories remain in power.

Entertainment One rose to 305 then fell back, it might take a few goes. But shouldn't be long before 300 is history

price between 90p & £1 within 3 months IMO.

later this month (hopefully next week) will be a catalyst for a rerate.

So even if earnings were to grind to a halt the shares are hardly expensively rated on a PE ratio of 12 for the fiscal year to end March 2015. But that’s not what analysts predict as they can see scope for another year of earnings growth based on revenues ticking up to around £160m to deliver pre-tax profits of at least £14m (finnCap), and perhaps as high as £14.3m (Arden). N+1 Singer is looking for top of the range profits of £14.5m. On this basis, expect EPS of around 8.5p to 8.8p and with balance sheet gearing of just 25 per cent, a dividend of 1.9p to 2.1p a share is predicted too. Of course, Trifast still has to deliver on those estimates for the 2016 fiscal year, but even so with the shares now so modestly rated then there is a margin of error priced in for the impact of ongoing euro weakness. In fact, N+1 Singer have just upgraded the shares to a buy and have a 124p target price, and finnCap has lifted its target to 137.5p. Both Arden and Edison remain very positive too and I would agree, favouring a fair value estimate at the top end of those target prices. Trading on a bid offer spread of 97p to 99p, albeit this is down from the 111p level when I updated the investment case a month ago, I remain a buyer of Trifast’s shares ahead of a pre-close trading update in mid-April. Please note that I initiated coverage on the shares when the price was 53p ('Bargain shares for 2013, 7 February 2013). Buy.

In my view, the currency headwind against the euro in part explains why shares in Trifast (TRI: 99p), a global manufacturer and distributor of industrial fastenings, have been weak since the company posted an upbeat trading update a month ago (‘Upgrades to drive re-ratings’, 17 February 2015). In the past month sterling has risen by almost 5 per cent against the single currency. However, I feel that investors are overreacting to these exchange rate move as margin gains, particularly from Trifast’s acquisition of VIC, an Italian manufacturer and distributor of fastening systems predominantly to the white goods industry, and ongoing organic sales growth have been offsetting the negative headwind of sterling’s strength. Trifast has also been benefiting from higher margin new contracts, exposure to the robust UK automotive sector and faster selling car models in particular, and a strong order pipeline with its large global original equipment manufacturers (OEM) customers. In fact, in the last week alone, analysts at N+1 Singer and finnCap have both upgraded their earnings estimates modestly for the current fiscal year to end March 2015, and for next year too. Analyst David Buxton at finnCap predicts Trifast will deliver current year pre-tax profits of £13.5m and EPS of 8.1p, up from £9.2m and 6p, respectively in fiscal 2014, based on a 18 per cent rise in revenues to £153m. Jo Reedman at N+1 Singer and Nigel Harrison at Edison Investment Research have almost identical forecasts. On this basis, expect the payout per share to be raised from 1.4p to at least 1.7p (finnCap and Arden Partners estimates), and possibly as high as 1.9p (N+1 Singer), implying a prospective dividend yield of between 1.8 per cent to 2 per cent.

Yes, Puccini music is amazing

Agree 39 steps was great plus blood brothers. Saw Madame Butterfly at Richmond theatre.

N + 1 Singer lifts Trifast to buy from hold, target raised from 119p to 124p

Not included today, maybe tomorrow

Indeed, analysts have maintained their revenue, profit and earnings forecasts for this year and next. That's because the key for Communisis ramping up its earnings is for it to deliver on higher-margin business already won from a raft of new clients, and it's these contracts that are substantially underpinning a 20 per cent rise in forecast cash profits to £31.7m this fiscal year, up from £26.5m in 2014, on revenues 8 per cent higher at £370m. Of course, the acquisitions made last year will contribute, but the lion's share is down to the large contract wins with the aforementioned multinationals. Moreover, a large chunk of the increase in cash profits will drop down to the pre-tax line, which is why analysts predict Communisis is capable of growing its underlying pre-tax profits by a third to £18.2m in 2015 to deliver adjusted EPS of 7p and reward shareholders with another double-digit hike in the payout to 2.2p a share. On this basis, the shares are rated on a miserly eight times EPS estimates, offer a 2015 prospective dividend yield of almost 4 per cent and are priced in line with new book value of 56p a share after factoring in the aforementioned asset impairment charge. I remain a buyer at the current level and would be using the share price weakness late last week as another buying opportunity.