Member Info for Bev88

If only the country was run as prudently as this outfit ! In a year where revaluations were down hence reducing reportable profit by a half, the dividend can be increased to 76p and yet is still over 3 times covered. The company has ploughed a further £25 million into aquisitions and develpment ( including Africa House in the West End) thus creating potential future growth, and rental income is up by 5%. Despite this investment ,borrowings are slightly down (gearing is under 20%) and with an upswing in the extensive American portfolio in prospect allied to the strong dollar, a tailwind is blowing. . Asset value is stated at around twice the share price . With the high visibility of rental income , mostly in the London residential,market together with the massive shareholding of the Board this stock gives us loyal shareholders every reason for confidence.

The disconnect between performance and shareprice with this stock beggars belief. The fact that private equity is currently out of fashion is hardly enough to justify the fact that you can buy 535p worth of assets (much in cash with no borrowings) for around 360p is one thing.When you look at the quality of those diverse assets which are in all the areas you would want to be in-largely business to expanding business-with no retail exposure (eg healthcare,offshore wind power,specialist glass for prestigous building projects worldwide etc etc) it gets even more interesting. The assets are managed by a talented group of people at Dunedin who have been together for over 10 years and won the major award for' excellence in portfolio management ' by their peer panel in 2010. Having met the management they inspire confidence,and have the track record to justify it. I look forward to the time when the market rewards them by re-rating the stock to more sensible levels and intend to enjoy the ride.

Tom78 is right and more to the point it is in my view unprecidented for a gold mine to tank, for no apparent reason, just when it manages to achieve its long sought goal ie. significant production. If management is right that there is no apparent reason other than small scale irrational selling by impatient individuals we can logically look forward to an upward shutter when the percieved value we see becomes apperent to all. The only other senario is an elephant in the room that we're all unaware of-hopefully Management will allay this fear on forthcoming round of presentations.

I have e-mailed the management, asking if there is a particular forced seller etc and they have been good enough to come back to me saying they are aware of no reason for abject share performance, but are shortly to have a Roadshow to promote the Company. Considering the company is ramping up to a projected 200,000 ounces production of gold this year, with so much development work behind them, this is the time when shares should normally be booming, not tanking. Either this is a Bargain of the century , or there is something we're all missing.

This outfit has finally become energised by deftly leaving behind commoditised items made in U.K. such as plugs and harnesses . They now source upmarket connectors in low cost areas supplying the worldwide demand for new growth areas like solar panels and electronics. Borrowings are down, profits soaring and Brokers universally bullish for a reason.

Following the massive fall on the back of relatively minor setbacks proactively flagged up by management, it is good news that the 3 main Directors have shown their faith by buying in . As the shareprice is now recovering there seems every reason to think the direction will be Northwards for the rest of the year to regain some lost ground. Those who shorted may well be sweating!

Hargreaves Group management have again demonstrated their ability to drive profits at a steady sustainable pace by overcoming problems, be they planning issues or difficult underground mining issues. They are now expanding their operation in Europe and have power generation in Asia on theit sights. If they can replicate their UK performance in these ventures, a challenge for the management, who knows how far they can go. Having met the management I for one would not back against them meeting the challenge.

Judging by his comments cashking will finish up cash strapped with this sort of assessment . I have followed the progress of this outfit for over 40 years. They have evolved from local Yorkshire distribution roots into a savvy,internet driven international outfit that has wisely flagged up a temporary lull in orders. Recent management purchases of shares demonstrates their faith which I believe to be well founded..

Given that both principal Board members have recently bought at over 250p, Mr Market appears to be presenting us with an opportunity at these levels, since a slow down in growth appears to be the only issue. This is a great company in a good sector.

Hansa is in a very interesting space with its 26% holding in Brazilian focussed Ocean Wilsons into which a director piled another £50,000 yesterday. This company is in the sweet spot of supplying the booming local offshore oil infrastructure.The other assets are largely outperforming overseas earners and the market insults them with a value at over 16% discount to these stunning assets of 1220p a share. Surely a matter of when they ignite rather than if!

The Monks Annual Report reminds us of the spread of well researched assets that are held in this fund managed by the Baillie Gifford expertise at a discount of around 12% to asset value. Similar Trusts in the stable are more expensive-Mid-Wynd for example trades at a premium (well deserved) of around 3%. Anomalies like this tend to correct- meanwhile enjoy the ordered sanctity of a secure haven for your funds. to grow.

In reply to GRDT, Daejan is over 50% owned by a 'teaparty' of the Freshwater family and associates. It is astutely managed by family members. An anomaly of the market is that because a takeover is unlikely in such a situation the stock is spurned by the institutions. As a very satisfied shareholder for over 25 years this suits me fine. The Board is backing the company with its 'shirt' and has built up an excellent asset base (very) conservatively valued a year ago at £46 a share with increasing and generous dividends. A visit to the AGM would convince you of the shrewdness of the small but effective management team. Borrowings are minimal, and costs are carefully constrained. Together with Mountview they are in my view a great play , at a huge discount, on the London rental property market where, with the dearth of Mortgage availability, 9 applicants chase each property at present. Hope this helps.

The Yorkshire Post reports today that Hargreaves in partnership with ING Bank has bought Hadfield Colliery, where 2CO Energy(cutting edge carbon capture innervators)have agreed to buy all 2.5 million tonnes a year production for 20 years. Hargreaves have allready transformed Maltby with modern working practices and are soon expected to commence at Tower Colliery. These are all niche coal producers, with high potential margins -further evidence of this remarkable Management's capability- a great investment.

Today's update revealing assets up to almost 500p a share with cash in the bank of £30 million, no borrowings and virtually all of the varied and solid investments performing satisfactorily, this share has gone under the radar for long enough. The management is class and the market seems at last to have realised that in these uncertain times value doesn't come much better than this.

Once again the Hargreaves management has shown its class. Despite major challenges in parts of the business ie. Maltby colliery and government vacillation on Biofuel, they continue to demonstrate their ability to overcome these and are growing strongly on the back of increasing demand for their high value niche coal and coal products. This business is only heading one way and the growth is clearly sustainable.

The Easyjet news of losses from the bad weather has hit Dart. Their Jet2.com airline however flies from northern airports which were not so badly affected and at a p/e of around 8 they present by far the best value in the industry. These sort of panics present opportunities that future profits are made of.

The price of coal is ramping up but, despite increased reported reserves and new enthusiastic management, this profitable, dividend paying open cast operator has been left behind the scramble for shares in potential producers in faraway places. 6 million tons waiting to be dug up and delivered to a ready market should be chased after rather than shunned. The legacy of previous disappointments is probably the reason but this presents a great entry point.

What a stonking set of results-this company is an emerging giant valued as a laggard

Anyone doubting my previous blogs needs only to refer to this mornings fantastic results. I predicted over £5 a share profit- it is in fact over £5.50. This management team is exceptional and I reckon the true asset value if all the trading properties were to be revalued wouldn't be far off £100 a share.

Hansa has a very good record and a portfolio including a 26% stake (making almost half the portfolio value) in Ocean Wilsons. This has extensive shipping interests in Brazil and likely to benefit from the booming local economy. You are getting all this at a discount of over 12% to asset value of over 833p.