Summary Notes19 Apr 2018 09:09
Mountfield Group, Ticker: MOGP
Current MCAP: �3.8million; Shares in issue: 254million; Shares not in public hands: 55%
Area of Operation:
Provider of flooring systems to main contractors and corporate end users
Specialises in the nationwide installation of data centres and wind turbine projects
Client List includes Vodafone, Mace, ISG Plc, Skanska, 2BM, McLaren, BP, HP, Linklaters, Merrill Lynch, Reed Smith, BBC, Standard Chartered Bank, UBS, Henderson Global and Unilever
Diversifying customer base and more recently, been negotiating contracts overseas.
Financial:
Over �11million of contracts announced since August 2017
Net profit before tax for the first half of 2017 was �305k. Net profit for the period YE17 (12months) is likely to exceed that achieved in both the first half of the year to 30 June 2017 and the second half of the year to 31 December 2016.
Noticeable improvement to the Group's working capital position as they target higher margin contracts
Other Notable Points:
Directors hold a significant portion of the shares and hence, interest aligned with shareholders.
Resolution to convert �3million of Loan notes to Founder Shares approved at previous AGM. Founder shares redeemable if aggregate consideration arising on a sale of company/entities, exceeds �20million.
Board meeting with brokers to raise company profile and detail significant progress achieved since restructuring.
Nice gap on the chart above 3p