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Hi Doze,
Nice to hear from you. You sold and I bought more at c625p. I think you read this better than me, gratz!!
Anyways, terrific update, only scanned it but the words speak far louder and better than the numbers, which I haven't really checked out yet. I guess I expected something like this (but not quite this positive, I have to confess) because in the past GB has (under Laws at least) always promised low and overachieved but, as you say, given all of the uncertainty in the World atm and the somewhat downbeat acquisition RNS, I really wasn't too sure of what they would deliver for the last year.
I didn't think they had much in the Russian block and that point is made in the RNS so no issues there it would seem. And a decent reaction, as you would expect. Hopefully this will restore confidence and we should see some recovery, how high, who knows but maybe my recent purchases will move into the blue. That would be good. I'll have a closer look at this over coming days.
Take care
BT
Really sad see GB down here, 35% to 40% less than where it was before the new acquisition. Earnings will only be neutral in this current year (FY23), suggesting that there maybe a negative impact last year (FY22). Consolidation, acquisition cost, redundancies, etc I guess all adding up. Who knows? We should get some clarity over the next couple of weeks, depending on when they issue their pre close statement.
Regarding Harry’s comments on product development, I’ve been away from the industry for some years now, since I retired but from what I know GB do invest in product development but it is just that, ongoing development. That is updating, expanding scope and reach, enhancing functionality, etc of existing solutions and applications. They don’t write or develop their own new applications. For companies of this size, unlike, say Alphabet, Meta, MS, Apple, etc it can take at least 6m, more probably 12m and for more complex solutions, a lot longer to bring a new them to the stage of market ready deployment. That’s a long time in this industry.
There hasn’t been a game sold in the last 10 yrs, maybe ever, that was truly finished and ready when it was released. Publishers just push them out into the community and the gamers accept, maybe grudgingly, that they are the final testing regime. If you do that with business software, in this and many other sectors, your reputation dies overnight. It takes time to get it right and to reduce the risk of error or failure.
GB have therefore chosen to mitigate this risk and expand by buying new applications that are already marker tested and carry very low risk. This brings in new, complimentary solutions in new markets, which also gives new opportunities to sell old/new solutions to new/old customers. How much this adds is always speculative but there is clearly some upside and it’s available pretty much straight away, you aren’t waiting a year or longer before you can start to sell. There is a premium to pay for all of this and because you’re buying successful solutions in successful businesses but it’s a strategy that I approve of, which is why I’ve stayed here for so long. Buy it, absorb it, pay down the debt and move on to the next target. It’s worked well so far, fuelling GB’s growth.
That’s my take on this, others I’m sure have differing views.
Not sure why the big drop from 725p, some must have sold out but it does look like someone is buying up stock at these lower levels.Is the same old recycling we’ve seen over recent years or is that just wishful thinking? Anyways, we can only wait and see. I’m in no hurry and will see how this plays out over time.
Take care all, Doze hope all is well with you, take care
BT
Hi Guys,
Just popped by to say Hi and check on what's been going on.
From the last few RNS's we seem to have a few funds down sizing a tad, not surprising given how they managed the recent aqc. A simple demonstration of to decimate the sp overnight but no point in keep moaning about it, it's done and we have to wait for a recovery, which I'm sure will come in time.
Anyways have a great Xmas and best wishes to both of you and your families. Here's to a better 2022, I see some decent upside in UK equities in the year ahead, let's hope so.
All the best
BT
Hi Guys,
Hope you are both safe and well. CM, I hope you trip south went well and that RR also keeps healthy and safe. It's never easy but cherish the good days when they come. It's nice that she recognises your voice. I used to call my old Mum every day. We had nothing much to talk about; the kids, the weather, my work, etc, etc. Just simple mundane stuff but it's what made her get out of bed every day and it was the calls (and the visits) that kept her going. Keep it up my friend.
Thought I'd have a quick look back here and who'd have thought, only weeks ago that we'd be down around £7? Certainly not me.
Doze, your thoughts on Capitalism and Socialism are a bit much for me this side of a decent glass of Jura but I do agree in principle. AIM in particular is the Wild West. seemingly unregulated, with no teeth whatsoever. Look back at the GBO debacle, fraud perpetrated on a grand scale by the CEO/Board and nothing done at all, so far as I can see. We are nowhere near that here, I'm sure this complied with the relevant rules and regs but it really doesn't look or smell great to me. This is all part of Clarks 'Biggest is Best, to Hell with the consequences' strategy. The Results made big play of the revenue gains in the year, and they were significant. The very muted profit performance wasn't even commented on, strange when the top line was so good. I can't be bothered to check out the Accounts to see where the burn was. The price of 725p was clearly set to ensure this acqn went through but I still don't understand this level of discount at all.
This whole debacle was very badly communicated and handled by the Board, a shambles imo. The first ever by this Company. Long term prospects look very strong and maybe that makes it all right. A couple of funds shed a few here and there but nothing major that I can see.
It's easy to look at this and attribute the movements to general market, Brexit, CV, inflation fears but the continual drop is imo our old friend (whoever they are) simply taking this down again from a new base. They have been doing this for years, cycling up and down 100+ points over a couple of months or so, and this looks like more of the same. So we could drop to 670p or thereabouts. All a guess at this stage but I can't see too many LTH's or even new holders (@ 725p) selling out just yet but I've been wrong before.
Brokers seem enthusiastic about this move from recent statements but what do they know (LOL)? and Director buys are always welcome but does anyone really care in a c£2bill mature company? They don't particularly excite me.
I'm still here long term and will remain so but just feel this could have been handled
Anyways have go, sounding like a Grumpy Old Man, where's that Jura?
Take care guys and in case I don't get back here have a Very Merry Xmas.
Best Regards to you both and to all LTH's
BT
Annoying for all of us 'retail investors'. I am not on the Primary Bid platform and missed this completely. It would seem that it was pretty much all over before it started. Giving us such a small time window to read and digest the RNS, register on PB and then commit is, frankly, a joke. I still don't understand the price @725p. Risk is a factor obviously, this is a big acquisition, but this looks way overdone to me. This is c22% down on where we were a few weeks back. But it is what it is. The Board clearly wanted to get this done and that's what they've achieved so good for them. Not so good for the LTH's, at least short term.
I looked back over the w/e at recent RNS's. Reviewed again the latest results just to reassure myself. They were excellent, as indeed they have been for a very long time. The appointment of Singh as a Non Exec was clearly timed to assist this.
I will continue to hold here, I accept the risks but don't see them as any sort of deal breaker and still see the long term prospects here as very good, particularly so given this acqn.
The price won't move much while those who bought in as a short term trade continue to pump and dump but once those holdings have been liquidated we should start to get back to growth, albeit with the probable cycling up and down that we've seen over recent years. I can see 800p coming back fairly quickly. Beyond that we will probably need to see the end of year results in Q2 next year and a commentary on how well this integration is progressing. We have a long way to go.
Everyone needs to make their own decisions here and I wouldn't blame anyone for bailing given what went on Thurs/Fri. This, for me, just leaves a bad taste in what has otherwise been an exemplary company/Board over a long period of time.
Anyways CM, Doze (et al), stay safe my friends
BT
Morning All,
Sorry not been back for a while and it's great to hear from you both.
Glad you are both safe and well in these uncertain times. CM also very glad to hear that your 'fine filly' is also doing well. Never easy, as I know, but spend whatever time you can with her and, yes be comforted that she is getting the care she deserves. Nice to hear that you've acquired female company, watch those claws though, these young ladies can be very demanding (allegedly)!!. And stay away from the stress of this lot, particularly now that finances are on a better footing, which is also very good to hear. I have moved away from volatility (apart from GB of course) and prefer the quieter life these days.
Doze great to hear from you too, stay well. Just seen the trading update, which was excellent all round and like you I think the new Directorship is a real asset.
Just scanned the 3 latest RNS's and still trying to take it all in. Need another read.
Matt I can understand your feelings right now, I too (along with everyone else who held overnight) am down c17%. I didn't see the releases last night so didn't get a chance to 'get in' but it looks like it wouldn't have made much difference anyway. It was all over pretty much before it started.
This was always going to drop, with such a large discount offered, and I've no idea why it was so large, but I guess that was what was needed to get the placing done. I can see a decent upside here but will go through everything over the w/e before doing anything.
Sorry, have to go for now, back next week.
Don't do anything rash guys, and stay safe.
Best wishes All
BT
Hi Qd,
Hope all is well with you and yours.
We certainly do cycle up and down, as you say, but like you I have no doubts about the longer term prospects here. I knew this company 20 or more years ago before it floated on AIM and was impressed then with Richard Laws and the (very small) team that he had. He's now retired/moved on and we have a much more 'Corporate' CEO in Chris Clark, which is exactly what we need as the MCap now approaches £2bill. It was very relevant then and has become so much more relevant now in this increasingly digitised world.
Lots of folks chasing quantum computing and the 'quantum internet', which could really change the game but they are both fraught with technical/scaling issues and you will always need to verify who you are talking to and/or doing business with so I don't see anything on the horizon just yet to rock this boat.
Yes, I bought in at 34p ish and sold some when it hit 75p, (what an nutjob!!!) and more on the way up but you do what you do and you can't go back. This share has basically returned my investment every year. It hasn't been linear all the way but overall that's where we are. I still hold a fair few and it does help the old retirement income now I don't have a nice salary cheque each month. I do get a decent lie in though.....when Mrs BT's makes the morning tea....which I confess isn't that often!
I keep a float and whilst I only look in once a week or so I sold those shares at c£9.35/£9.40 and will now wait for it to fall back to somewhere around £8.30 or maybe a bit below and buy back in. The low to high cycle can take a couple of months and I don't try to hit the top and bottom but get as close as I can. I've done this 5 or 6 times now and am very happy with the result.
Everyone has their own goals and investment plans and I don't recommend this to anyone but it works for me.
Mrs BT having problems planting tomatoes (apparently), so I'm needed elsewhere. Qd stay safe my friend and good luck in all of your endeavours,
Regards
BT
CM be great to hear from you if when you have a moment. Thinking of you and hope you (& RR) too are safe and well.
Hi Qd,
I don't post that much but my thoughts on this co. are well known if you read these forums.
The sp is cycled up and down and has been for a number of year, seemingly ignoring strength of results and general market movements. I've been saying this for years. We can dip down 100, even 150 points (typically after results come out) and sometimes more but we always come back, such is the strength and relevance of this co.
I would never give investment advice to anyone and it is always difficult to know where the top and bottom of these cycles are but we are back over 900 and imo are closer to the top than the next bottom. I hold a fair number long term (getting close to 20 yrs now...LOL) but try and ride the peaks and troughs. I bought another traunche at a little under 830 (5 or 6 weeks ago - need to check) and will look to sell soon. We may go back up to high 900's but I am happy to bank the profit once I get over 10% or so. Longer term I do see more growth organically and thru acquisition so I'm happy to hold here but make a few bob here and there as we go. As I've said we may well continue up for a bit to mid/high 900's but we could also start to drop back soon so be aware if you aren't planning to hold for the long term. You may well do your own detailed research and if so ignore everything I've said and go your own way. These are just my thoughts.
CM haven't seen you on here for a while, hope all is well my friend with you and Red Rum. It would be great to hear from you.
Best wishes to CM, Doze and other long term holders/posters, stay safe in what are still difficult times.
ATB
BT
This is a fairly normal pattern on GBG and has been for some years now. As I said below there is little 'real' liquidity here, the buy/sell activity comes from probably 1 or a small number of large holders who on their own can move the sp quite effectively. You need low liquidity that is 'interference' from others so that every buy/sell counts, a small spread, typically 0.2% or below here and low trading costs, which with the number of transactions they would have. Interesting to note that when the spread increases for whatever reason as it does now and then all trading stops until the spread falls back again. All done with AI and the sp can cycle and fall 50 to 100 pts and then climb up again. Clearly this sp cycling up and down ends up in a net gain for the holder otherwise they wouldn't do it. And I guess, why not? Rather then just sitting on your shares waiting for Xmas, you can use them to generate an income.
It's typically taken down on/after results, maybe because good results (and they always are here) are the high water mark for the sp.
Of course, I could be totally paranoid and way off the mark but I've certainly made a few bob following these trends over recent years (albeit not over recent months) but I will watch as and when this looks to settle near a bottom point and buy a few more.
This is my biggest holding by a long way and has been for many years but always happy to add a few more.
All my own opinion of course and as I say I could be completely wrong so please make your own judgements here,
Cheers
BT
Morning All.
Not been here for a fair while. Got hit by Covid at the turn of the year. Whole family did; we think the 4yr youngest Grandson brought it back from Nursery. Luckily we all came through it but it has taken the 'oldies', Mrs BT and yours truly, a bit longer than the rest of the clan. Incredibly tired, headaches and generally felling like s**t for many months - when they say it can take months to get over this, they mean it. Kids and Grandkids had almost no symptoms. We were incredibly lucky when we see what it's done to so many others - not our time I guess!
Anyways, thought I'd check in and had a quick look at the w/e but no real time to spend. Now seen the results and as expected another excellent year. As we said back last year the move to home working has accelerated the need for remote verification and GBG's toolsets are perfectly placed to meet these needs.
BTW 20'sTrader I thought your website was an excellent precise of the business as it stands now. I've known this company for the best part of 2 decades but you lose touch with some of the detail so it was great to get back up to speed.
I also loved Moorhey's Wild West analogy, hadn't really thought about it before but yes that works well.
And then as is the way for this share, epic results cause the sp to fall back. This is the same old, same old that we've seen here so may times over recent years. Not that much liquidity here generally and a big holder(s) can force the price up or down quite effectively on their own. Haven't done so lately but let it drop, get somewhere near the bottom, buy a few and let it come back up. It always does.
So I'll go away and read this properly and it would be nice to hear from some of the other posters. CM hope that you are still looking in and keeping well. Hope RR is too. Take care everyone & best wishes
BT
Hi CM,
Glad all is well and we are clearly kindred spirits, both born with loud voices for a reason and we only found out later in life just why that was. Stay as close as you can to her for as long as you can and keep on shouting!
Back into lockdown but for Mrs BT and me no real change, we are staying pretty much at home until we get a vaccine. Fantastic news on that front, 90% effectiveness after 12 months is astonishing and just shows what mankind is capable of when we pull together.
Haven't heard how the Russian roll out is going after testing, what was it, 60 patients? Complete lunacy......which reminds me...he's still there and apparently HE WON! Did I miss that bit? You truly couldn't make this up and what is even worse is that many of his supporters agree with him. Is there something in the water over there? Whilst I joke and laugh about this, it really isn't funny and if he carries on, as he seems to want to do. I can see some very serious problems looming because there are far too many folks out there carrying automatic weapons openly. In what warped reality should that be allowed? Anyways I digress.
In terms of the drop, and we are down again today (that makes it 10%+) is normal, as CM said in an earlier post. There is one (or more) large holders who use AI trading to cycle this share up and down and a thump down after an all time high is again very normal. This is AIM and despite the very high MCap there is a general lack of share liquidity for this and most shares. Or at least there was here until 5 years or so ago. We saw trading in the 10's of transactions per day. Now >1000 trades is normal, sometimes double that. You need lowish liquidity so that you can control the movement better and a small spread (typically here 0.3% to 0.4%) to keep the trading cost down. I haven't checked for a while but have a look at when the the spread flips to >3% or something like that, as it does now and then - all trading stops. The intention is to take it down by interweaving sells and buys and then do the same to bring it back up, at which point you have either increased share holding and/or cash. With a small spread and transaction costs in the pennies for >1,000 trades per day it clearly works. Sadly the rest of us have to sit and watch and buy and sell where we can. The CEO selling will have had some small effect but I'm relaxed at that, they have to sell at some point and an all time high sounds a good time to me. A flatter second half may have also caused some to sell off a bit but I again I expect GBG to have a few more surprises in store.
That's my take on all of this and I'm very happy to stay and buy and sell some along the way.
Anyways, have to go, a few bits to do. CM stay safe, I don't know whether you are furloughed or at work. Either way look after yourself and RR and keep shouting!
Very Best Wishes
BT
Ah CM, you were my last hope, bloody Trump.
The man is an idiot who's limited intellect is a very real danger to us all. Take care.
Just up making Mrs BT a cuppa. All I can say is outstanding. The 'one-off' US project has clearly played a part but 10% organic growth is brilliant for the last 6 months. I always knew it, work from home is the way to go. Very strong continued cash gen, almost back to zero borrowings and a divi - Xmas is here early.
Have another look later when I've got my glasses..LOL.
Have fun CM and GLA
BT
Morning CM,
Thank you for your concern my friend, we are both safe and well and very pleased to hear that RR and her 'Trainer' are too!. It's daft to say I didn't have time to come on here, we are had too much bloody time but I guess with the markets all over the place over the last 6 months, I tended to leave it all alone and find other stuff to do. I've never been a trader as you know; never had the inclination to spend that amount of time at the screen and sell low/buy high never seems that far away. Like you I'm now happy to avoid risk as much as possible and try and enjoy life in this crazy new world. Very pleased to hear that yr finances are in a better place CM, I know it's been tough over recent years but if the path ahead looks easier and more comfortable than the one behind you, that's not a bad place to be. Good on you.
All we both both need now is a Russian (or similar) supermodel to come round a couple of times a week to 'tend house' (or similar) for us. Sadly Mrs BT doesn't think much of that idea so if you find one, send pictures!
Sorry to hear that the dementia is getting that much worse, never had to suffer that in any of mine or Mrs BT's parents but I did smile a little when I remembered back to some of my phone calls with my mum, who did go somewhat deaf towards the end. Sitting in my office shouting at the top of my voice about how the weather was, or something similar, always went down well with the rest of my team. Just keep doing what you are doing and smile when you can. I'm sure it helps.
Good 'ole GBG has been an absolute gem for me and today it's taken off again. Who'd have thought we'd be nudging £9 now? Not me. The Berenberg update and narrative today are, I'm sure, fuelling this but we have seen very steady and significant growth over recent weeks. As I said in earlier post let's see what the H1 results look like. With strong cash flow they may push ahead with the balance of the recent partial acq. Which idiot sold at 50p? Oh I remember.........
Must go, dogs demand walkies and they are second only to you know who in the BT household hierarchy.
Take care my friend and stay safe.
Best wishes
BT
Not been back here for a while, hope all lth's are safe & well. Just caught up with the Q1 news and the latest acquisition-in-progress. Both excellent. Nice to see BG still on the acq. trail, this has really been pushed hard by the new (although not so new now) CEO and his more corporate approach. And of course we now have an mcap of £1.5b, a long way from the co I knew 18 yrs or so ago when I first dipped in here. Also great to see the broker rerating. These tend to be somewhat academic exercises (the old 'target price' was £565p!) but the move from 565p to 870p is a useful rerate and the underlying narrative was fairly upbeat. I guess the market likes what it sees here and we are back somewhere near we should be in the high 700's/800's. It will be interesting to see what the half year looks like, the broker narrative suggests that it should be reasonably encouraging. Should be out in about 4 weeks.
CM, hope you are well my friend. We are sitting tight here (Mrs BT is type 2) and we won't be going anywhere, anytime soon. We are lucky here (village just o/s of Newmarket) where infections and R rates are low but we still only go out for provisions and the odd take away coffee. It must have been tough telling RR, we went through it with Mrs BT's mum many years ago and it is never easy but there comes a point where she is at far greater risk at home than she is in care. I hope she remains safe and well in these very difficult times and that you can now visit her. My mum never went into care but in her final years she lived each day for the simple phone call I made to her. Never lasted that long and we talked about the weather, last nights telly, anything really and I always tried to make her smile at least once a day. I'm sure RR is the same and keep in touch whatever way you can.
I still (for me) hold a lot of these but have sold a lot over the years since buying in at c34p back when I had a full head of hair (those were the days). I remember when we hit 50p and I sold a few to buy something (can't remember what). c50% increase whooppee. Little did I know and I should have held onto all of them. Bought more over the years, of course, but you do what seems best at the time and move on. Always easy to look back and say.....if only... Anyways. got a bit more time now, never knew a new house would need so many shelves, cupboards, brackets, etc but 'she who always knows best' has said so, so it must be true. I'll look back in a week or 2. Stay well CM and very best wishes to you both.
BT
Good Afternoon Gents,
Just a quick look back here. Will have more time over the w/e.
CM nice to hear back from you. I know its tough but that daily phone call to RR I'm sure still means a great deal.
Here and in the US we have had a distinct lack of clear and decisive leadership. Less said about Trump the better; he is worried about one thing - getting re-elected. He simply does not seem to understand what is going on. Here we just seem to make one balls-up after another. Difficult times and easy to criticise from the sidelines and the mad media don't help but we should and could have done better than this!
In terms of markets, who knows? The initial hit which dropped the FTSE (& Dow) to well below 5k was imo due to the lack of a real definitive plan on both side of the Atlantic. Trump was in denial we weren't too different. We now have hard(ish) lockdowns in place and the UK and NY in particular seem to have passed the peak so the markets have seen some confidence return. We will still see large daily movements but if we do start to lift the lockdowns I can see a continuing upward trend for most sectors for over the next 4 months or so up to maybe 6.5k . With so many variables and so much that can still go wrong I would only rush in now if you don't need the money for 4 to 6 months. Decent profits to be had medium/long term but short term you can easily still get hit hard if deaths/new infections start to escalate. Just my opinion of course. I offer no advice.
Fantastic results here, much as expected but better overall than I thought we would see. Due mainly to the full year inclusion of the new acquisitions but continued strong organic growth too. Terrific performance. I also like the tone of the outlook and fully expected them to hold back on the dividend. Why would you relinquish that level of liquidity in these very uncertain times? To pay it now would be needlessly reckless and is not in keeping with how this business is run. Strong balance sheet, debt nicely down and the nature of their model means that impact from CV19 will be far less than for many other sectors and businesses. I thought this was one of their best updates ever, given the current environment.
And predictably we thump down, which has become the trend over recent years with AI trading. Bound to be some reaction but this because 2021 will likely see a drop in performance but this is the same old up and down that has become the norm.
I think we will see some reasonable recoveyr here once these results sink in but not sure when. Too easy, these days to manipulate a share like this to your own ends.
Patrm, welcome, not sure I've seen you hear before. It's tough for a lot of folks out there and can be very tough for the self employed. Hope that things work out for both you and CM. Keep and eye on this because the price is pushed up and then down and can bear little resemblance to overall market movements.
Have to go. Gents stay & well
Regards
BT
Hi CM,
Thanks for the good wishes. Don't get much time to post on here, too busy in the new house. Mrs BT has a veeeeeery long list of jobs for me!
Do what you can for RR, it must be very difficult, dementia is very cruel. Smoking killed my Mum and Dad so haven't seen it up close but a friend is going through the same thing as you and it is tough indeed. Take the good days when they arrive and try not to let the bad ones get you down too much. Being bloody minded can help keep the mind active that bit longer but above all else keep her as safe as you can in today's world. This bastard virus takes no prisoners.
Markets have settled a bit after the initial panic, which knocked 30% or more off most equities. Retail, airlines, etc have taken a far bigger hit but that's to be expected. As I've said here, imo our approach was far too slow and smacked of dithering. Other than killing a lot more people, I have no idea what the initial intention was because allowing sports events and 'normal' activity simply caused a far bigger peak far earlier than would have been the case had we self isolated 10 days earlier.
I have been distinctly unimpressed with Bojo. First the flooding and now this. The Govt seemed to have no idea what to do, and of course we missed the email for ordering PPE as part of a European bulk order. Would Maggie or Cameron or even Blair have been so slow to react? Who knows. Let's hope they get their act together now. As bad as it's been here, could it ever trump Trump? The man is deranged and dangerous. He forgets all of his tweets about how it will all be over by Easter and how within a few days the US will have 'zero' cases and blames it all on the Chinese and the WHO. And now be backs marches and demonstrations against staying in self isolation purely so that the markets might recover a bit to help his re election. How did this low intellect, imbecile get into power?
Anyways, enough ranting from me too. We all need to let off steam once in a while. We are seeing a bit of stability generally. It doesn't take much to spook markets but atm we seem to be waiting for news on lifting lockdowns, vaccines, etc when confidence should hopefully start to come back, albeit slowly. A recession? Yes, without a doubt, at least technically (a decline over 3 successive months) but I do believe that we will see a strong bounce back for many businesses.
GBG has been hammered but this is the new norm here. We had SL selling a few, a Director offloading some and then the general trending up and down, as we have seen over recent years.
Results are due any day I guess. Easter will have pushed them back from last year. I'm expecting a decent step up in the last year. Outlook likely to be more uncertain but it's mainly a subscription model so shouldn't be impacted too much. I guess with so much home working, one could say that firms need GBG services more than ever but we just wait and see.
Stay safe CM & Best Wishes
BT
Hi CM,
Not been around too much of late but thought I'd have a quick look back in here. £8 at around Xmas and then c£4.7. Just goes to show how some funds can manipulate these low liquidity AIM stocks to their own ends. Looks like SL were selling a few, which is fine by me. Major holders balance portfolios all the time. Swed Bank seem to have bought some but I can't work out how many (does anyone understand these bloody forms?). Sure CV19 has knocked back everything but this sort of drop goes way beyond that.
GBG's business model should be highly CV19 resistant (service provider, most staff can network from home or anywhere else, mainly a subscription based model, etc). It's subject to the same problems everyone is having but it won't be hit to the extent of 40/45% of EBIT. In fact this year to March should continue the strong growth given it's the first full year with the new acquisitions on board. New year outlook will clearly be uncertain but I would guess only for new business, the basic ongoing subscriptions will continue. But who knows, we just wait and see?
MattC got out and good luck m8, I've been in here a long while and it's continued to deliver over a very long period. I don't see that changing any time soon. You just have to accept that it doesn't stand still as it used to and ride the waves if you can.
Nice recovery both here and on just about every market over the last 2 days. Markets generally like the more decisive action now being taken across the World. Even Trump's ridiculous assertions that it will all be over in 3 weeks can't dent the new optimism. Long, long way to go but at least the dithering has stopped and we have something resembling a plan. There will be more ups and downs as the news ebbs and flows both here and on the markets in general but the End of the World has been pushed back a little.
CM, hope Mum and you are well. Stay safe and keep Mum secure and isolated if you can. Not easy I know. Mrs BT and me are in that 'at risk' age group and so are at home now. It's amazing how long the list of jobs that she's found for me really is. I could be here all year!
Don't know whether you are set up yet with a trading account but I switched everything to AJ Bell 9 months ago. Not as cheap as i-web but cheap enough and I am very happy here. Might be worth a look if you have yet to decide.
Still a lot going on here. Old house is being knocked down and we have the asbestos guys here. They don't need to self isolate, it looks like a moon landing down there. Space suits, breathing tanks, etc. To think we lived in there for 36 years. House was built in the 60's and asbestos is in boards, artex, kitchen floor tiles. You name it - it has asbestos in it. All covered up over the years as we redecorated but they have to remove every trace. None of the nasty stuff but it all has to go before the diggers move in, whenever that is.
Anyway must go, take great care one and all. Take no chances with this damn virus and stay safe
Hi CM,
Thank you for the Xmas wishes and the same to Mum and you. We too are finding things veeeeery different, having lived in our last home for almost 36 yrs. We are also still coming to terms with our air source new heating (it learns how you like your heating and water...….oooohaaah!) and the new kitchen appliances that all keep telling me I'm doing it wrong and resetting everything. We'll get there I guess.
Anyways we are looking forward to our first Xmas in our new home and I hope you are too.
Been a truly fantastic year here, who'd have thought we'd be knocking on the door of £8, 6 months or so ago. A fantastic year from a fantastic company that just keeps on delivering year after year.
I bought at 35p(ish) those many years ago and like you I've sold along the way. I remember when it hit £1. That felt like winning the lottery! But you can't hold forever. I still have about 50% of my original holding from about 16 years ago and I've added some more this year, having sold a few earlier in the year. I'm probably GB's biggest fanboy and it dwarfs all of my other holdings so long may this run continue.
Bumbling Boris won, or rather Corbin and his tribe lost. I am a capitalist and a Tory at heart but don't have much time for Boris. He lacks substance, conviction, dedication (other than to himself) and has absolutely no attention to detail whatsoever but against Corbin and that ridiculous Labour policy manifesto he couldn't lose. And they added student loans and WASPI women for another 120 or more billion. How was any of this borrowing ever going to be paid back other than getting high earners to 'pay a little bit more'. Complete and utter nonsense. Shame when some of the stuff in there about equality, workers rights, etc made a lot of sense but it all got lost in the mire. So we have Boris and we did get a Boris bounce and maybe he will be brilliant, who knoes. He has cash to throw around so let's wait and see, after all we have no real choice in the matter.
My Jura is sitting here looking at me and needs attention so have a Great Xmas and New Year CM (and Doze if you are still looking in) and all of the rest of the holders here.
Here's to another cracking year in 2020.
Very best wishes and Merry Xmas to all
BT
Hi CM,
Hope you are still looking in here and that both Mum and you are keeping well. I have been so tied up with finishing the houses that I haven't been on here for quite a while. Done now - hip hip - and despite being completely knackered I am very happy now that the family have moved into their new homes. Never doing anything like that again!
Sorry to hear about Mum's diagnosis but it sounds like she has the best of care and long may that continue. We hear so much about how the NHS is falling apart and failing but whenever we have needed it, it has been truly excellent. From what you say, it looks like the same is true for Mum and you. The befriending service isn't something I've had any experience with but it must be wonderful to know that Mum has some regular caring contact like that, particularly so with winter approaching. As you say, unsung heroes, like so many in the health and care sectors. These sectors need serious new funding from whomever wins the election.
Your lucky escape from SVS was just that. A number of brokers seem to be having hard times. I guess your investments/cash would have been safe but at the very least they would have been tied up for some considerable time. I started an age ago with Nat West Stockbrokers who then sile to TD, who then sold to Interactive Investors (there may have been someone else along the way somewhere). I went from a no cost portfolio to paying II something like £30 a month given the way I'd apportioned up the accounts. Complete bloody rip off. Ok if you trade regularly a few times each month but I trade now and then and generally hold for the long term. Now with AJ Bell, much better and a lot cheaper.
Fantastic update here from GBG. In many ways as expected given the size of the acquisitions but these weren't incidental add-ons they were very significant and it's great to see how well they have been absorbed into the whole and how well the cumulative profit has been maintained. Really strong organic growth, excellent new market access and a terrific outlook. I can't see how it could have been any better. We obviously hit new highs as we should, given the update but who knows where we will go in the short term. Far too easy these days for one or more of the big holders to simply cycle the sp up and down using available bot programs. Long term I am very happy to continue to hold and see this continue to grow.
CM, stay out of the markets until into next year at the very least. Brexit and now the election will continue to stress the markets until 2020. You are probably now settled in your new house and if our experience is anything to go by, that's expensive enough without worrying about stock prices.
Have to go for now but will be back. Best wishes CM, stay warm look after Mum, and wrap up when you are out in the forest.
Best wishes
BT