Member Info for belfry17

I don’t post on LSE anymore but just wanted to say well done to those who remained positive during the tough years. We still have a long way to go but things are looking far more positive. I am sure that Misty regrets selling their £800 or so investment at a loss some time ago but I even wish them all the best and hope they managed to get back in and join the party. Happy Easter all

Just a short consolidation period before the next leg up? Results soon, then divi and then hopefully news about the banking licence.

Too right - quiet LSE boards nowadays is generally a good thing.

Hi Pete

Not me. I went on the website earlier to find more about the bond issue but couldn’t see anything. Anyone know anything please?

That is a great article, that, and that is why I originally went in last year. It shows how good value it is.

Ah, so you are one of or the big recent buyer?

In times where growth tech stocks are really struggling, you’d hope this one is a fairly ‘safe bet’ based on the balance sheet, price and divi.

Has anyone had any thoughts about rising rates and how that affects us? Is it as simple as we pass on the extra cost to the client? Banks tend to do well in times like this, so could we too?

Lots of chunky buys have just gone through without price movement. Maybe we’ll see a sell trade soon or exchange. Interesting.

Taken from the last results:

Cash: £2,107,000
Current assets: £30,019,000
TOTAL liabilities (short and long): £16,640,000
TOTAL assets (including above current) less total liabilities = £15,800,000 or 75p a share

The above is after a less than ideal period, in which they made profits and paid a divi but looks very cheap.

Nice one. What impact do you think the bond issue will have? Cheaper way to raise funds to then pass on to clients? Is it as simple as that?

Is that you in the RNS Pete? :-)

I have no idea, Pete. I just think that we are undervalued here and should have a good run towards £1, proving there are no nasty surprises. The last results stated that things picked up, and they also still made a profit and paid a dividend in a poor year. I had forgotten about the dividend until I saw it in my account, so that was a nice surprise.

I think it is getting close to being valued at just two thirds of its current assets less ALL liabilities, and NAV Per share is higher than that too. That is crazy, but I know the current assets are largely made up of loans to clients.

there may be a seller/ transfer of shares going on recently.

What is your target, Pete? I like how there is a dividend whilst we wait to get there :-)

He probably has sold a big chunk already. It will dent the price but the long term trend will be up if the PFAS work turns profitable.

You would hope that the size suggests that he doesn’t want to sell a large amount but directors sells are never good news. They can’t sell shares as easily as the average person. It will blow over quickly.

I am surprised this one hasn’t got more attention. It achieved a net profit during a very tough year, it had/ has just over £2m cash, its net asset value per share is about 75p, and even pays a dividend. The results also said that borrowing improved towards the end of the year.

It is looking good. Imagine what would happen if we got a significant PFAS contract.

There seems to be a push behind the stock at last. Their PFAS solution provides an excellent growth opportunity, and to have a strong balance sheet and decent board helps greatly too.

Let’s see if we can break the 70s to £1 this time.

It does seem to have consolidated at these levels so could well move up past the recent high in the 70s.