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Agree with everything said.
Profits growing nicely; debt very much under control; and in a sector which has to have a great future.
Do not quite understand why it is so obviously unloved.
Can only wait patiently for sentiment to change.
Good news on progress.
As per update today : “ Further to the Group's trading update of 16 November 2023, the Board is pleased to confirm that Restore expects to report adjusted profit before tax for FY23 in line with market expectations*.
Whilst 2023 was a challenging year for the Group, our foundation of highly contracted and recurring income streams, in particular our storage revenue, underpinned our financial performance.
Cash generation during FY23 remained healthy, with anticipated year-end net debt of around £98 million, towards the lower end of market expectations.”
Am still expecting Skinner to be deal making before too long.
F.D. buying a further £50k of shares yesterday.
Always a comforting signal.
If he doesn’t know the shares are a good investment then who does?
In the last few days we have had one RNS confirming that trading for the year is in line with expectations, and another stating that the FCO has purchased over £50k of shares.
I remain of the opinion that Charles Skinner will look to do a deal. He is a born deal maker and at this price Restore is a steal.
Solid State plc (AIM: SOLI), the specialist value added component supplier and design-in manufacturer of computing, power, and communications products, announces a trading update for the six months ended 30 September 2023 (the 'Period' or 'First Half').
The Directors are pleased to report a strong first half trading performance, including:
· Revenues of approximately £88.0m (2022: £59.4m). Organic revenue growth in the Period being in excess of 35% on a constant currency basis;
· Adjusted profit before tax* of at least £7.0m (2022: £4.2m), reflecting a 67% year on year increase; and,
· Strong cash generation from trading activities, contributing to settlement of deferred consideration relating to previous acquisitions, and paying down the Group's borrowings.
All looking pretty positive.
Restore Chairperson- Sharon Baylay-Bell - has now purchased some 50,000 shares in the last few weeks.
In my book a personal investment of about £100k is as good a vote of confidence as you can get.
Going by today’s price movement, maybe stock market sentiment is not quite as miserable as I thought!
Announced today that the Chair of Restore has purchased some 20,000 shares.
And Mark Slater has again taken a stake in the business - this time of 5.2%
Slater always was a keen supporter of Restore in the Charles Skinner days and maybe sees a promising future with Skinner’s return.
If the general stock market sentiment was not so miserable I can only think the price would already be well north of £2.
From today’s announcement:
Record underlying revenue and EBITDA
Confident FY2024 outlook with a sharp increase in earnings and free cash flow expected due to completion of major integration projects.
All progressing rather well imo.
Always comforting to see a CFO buying shares!
With Skinners return, HMRC contract and Jamie Hopkins share purchase all is looking rather positive.
And Skinner is a deal maker. Could be quite exciting!
Others now waking up to the opportunity here.
Still a big upside. How nice when events very occasionally play out as hoped.
Great news. He will deliver value for shareholders. And also the Marlowe dimension. Makes a deal even more likely.
Still on the up. And still some way to go. My best performing share - though at the moment that's not too hard!
Good job the company are buying there own shares as it seems very few others are buying!
Results as expected. No nasties. This is a solid company which has been poorly served by the departing CEO/CFO. Right down of goodwill irrelevant as company has sufficient retained earnings for dividend. Need a strong new CEO to deliver value. Alternatively a takeover may be on the cards. Marlowe would love to take this for 300p per share. Either way I expect 200p per share by Christmas.
Totally agree with Everestingly on valuation. At todays share price the market cap is £187m.
The RM business alone in 2022 generated sales of £113m. On a conservative basis the RM business is worth 2x Sales.
And the business is pretty much long term guaranteed - almost annuity like.
Customers do not like moving as it is hassle and expensive.
I first invested in Restore in 2011 and exited when Charlie Skinner did. Have taken a small stake today as it is just too cheap. We shall see. GLA
Looks like something is beginning to move here.
Anyone know when in July the results will be announced?
Record results for year ending 31 March 2023.
Current trading ahead of concensus for 2023/24.
Prospective p/e of around 13.
A well run company in a growth sector of the economy.
Very happy with my investment here.
Having some spare cash and seeing the positive comments from Naked Trader, Rivaldo, Motley Fool,I mistakenly thought there should be a minimum 20% gain relatively quickly on the back of the results. A slight niggle were the comments posted by Le-Barone which I took ,on balance, to be those of a disgruntled ex-employee. How wrong was I.
Then a delay in the results - OK I can just about understand that. The FD going got me very nervous and I should have got
out at that point. But all seemed positive until the latest announcement.
If it really is only a £3m historic balance sheet adjustment with no impact on cash or P&L then it could surely have been resolved by a sensible discussion between auditors and the Board and deadlines would have been met.
To bring in forensic accountants signals , to me, something far more systemic. We shall see.
But for the Board to allow a share suspension to happen suggests that they really should consider their positions.
For me a lesson hard learnt. There is no such thing as easy money.