Member Info for Cautiousman

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.

Very much like the free cash flow.

And surely a p/e of 8 cannot continue given the growth of the company.

I quite expect a serious price increase by end 2023.

Is anyone else suffering when good companies in which you hold shares announce good news stories.

Goodness knows what would happen to the share price if bad news was released.

Some extracts from the Interim Announcement:
Revenue and adjusted profit before tax up 19.0% and 28.2% respectively.
Record open order book at 30 November 2021 of £70.3m, up 14.3% on 30 September 2021 of £61.5m, and up 70% on year end figure of £41.3m at 31 March 2021.
Group-wide we have worked closely with customers and suppliers in response to the rebound in the economy. This is evident in the order flow and the strong open order book, which gives the Board confidence in meeting expectations1 for the full year."
Even taking the existing - likely over cautious - estimates for the full year, Solid State are trading on a p/e of about 16 with a PEG of 0.6
Very content with my investment here.

Always get a warm feeling seeing a non-exec buying shares as was announced yesterday.

Reluctantly decided to exit with a small loss after 4 years as a shareholder. Kept telling myself it was going to come good.
But poor growth in i24 /failed US acquisition/ and finally an unnecessary name change made me decide that there must be better companies to invest in.
And do you know what - I feel so much better not seeing the name Aferian any longer on my portfolio!

Not massively surprised at the move from Marlowe.
Charles Skinner is a non exec and his old FD from Restore has recently become FD at Marlowe.
They know there is value in Restore which the current management team is slow to realise.
Agree with MattC - £6.00 would be a good result.

Interesting comment from Progressive Equity.
"We continue to believe that Amino is well placed to benefit from ongoing evolution in the global TV industry. The Amino 2025 strategy is focussed on capturing growth opportunities arising from the convergence of Pay-TV and streaming video services. Increasingly software-led, the group contains two (complementary) operating companies to address this growing market: 24i, which focusses on streaming video experiences and Amino Communications, which integrates Pay-TV with video streaming services. With industry sources forecasting the global TV streaming market to double by 2025 to $167bn, clearly the opportunity for Amino remains vast."
With a prospective p/e of 14, excellent cash generation, and good growth expectations this company has a lot going for it.
We shall see......

Seems the market liked the last acquisition.
And Mr. Wilding says there is more to come.
Can see further upside here.

Restore: Canaccord reiterates buy with a target price of 580p.

Must have liked latest acquisition.

Excellent trading update today:
"The Group is pleased to report that it expects to announce results ahead of the recently upgraded consensus forecasts. "
And:
"The Board is pleased to report that we have seen particularly strong order intake post year end to start FY21/22, building confidence in the outlook for the current year."
Could really not ask for more.

Tipped by Midas this week.
Strong rumours of a large acquisition.
Decided to hold on to my stake as Wilding has good track record for deal making.

Positive note today put out by Progressive Equity Research.
Their summary:
"Amino has firmly established a strong position in IPTV set top boxes, and looks to have now achieved a market leading position in set top boxes for OTT (over the top) services delivered to TV sets using broadband connectivity. The company has developed a strong software-based offering and has a major reference contract with Cincinnati Bell. The company is gaining solid commercial traction from its expanded product portfolio and re-focused sales and marketing activities."
They forecast 34% EPS growth for 2021 giving a PEG of only 0.4.
And the company continues to generate good cashflow.
Maybe the time has come for Amino after being out of favour for a long period of time.
We shall see.

Lok will be reporting good growth in half year to end January 2021.
Self store is a distress purchase - no one really wants to do it -which has three key drivers.
1. Volume of house transactions. Crazy at the moment.
2. Divorce/separation. Risen with covid.
3. Deaths of old folk. Relatives cannot face taking Great Aunts belongings straight to the tip where they belong but pay for 2 years self store and then take it to the tip. Sadly covid derived growth again.
Lok are the fastest growing of the self store companies and are at a huge discount to their peers when comparing NAV per Share.
Expect this to narrow.

My carpet fitter of the last 20 years tells me he has never been so busy.
Major shortage of underlay throughout the country.
Should bode well for Victoria.
Still see considerable upside in this share.
We shall see!