Member Info for chrisc32

... we can take out the 13p comfortably on the current rise.

... for just 3000 shares.

more to the point... why the fall that we saw after such a solid set of results. At 10.25p, STY had more cash at year end 2011 than the market cap of £6.4m. Interest galvanised by the Tesco announcement IMO.

now 10.29 to buy

A couple of small trades through at mid there, totalling 3200. A split order? Naff all volume today so far, but holding rather than falling is a positive after recent days. Hoping to see some upward movement.

They have pref shares to redeem of c.£15m over 7 years. Not too onerous a schedule with £1m payable in each of 2013 & 2014. £2m in 2015,16,17 and £3m in 2018 & 2019 - and a decent year end cash cushion of over £6.5m. STY is a play on confidence in their ability to cover these pref shares from future earnings.

... directors dip in for a few more shares - it's always encouraging to see director buys.

I know I said I wouldn't post for a while, but 10.25p? Market cap around £6.4m. STY had more cash and net cash excluding prefs than this at year end. They also made a £1.8m underlying profit before tax. Looks cheap to me and added a few more. DYOR needed

Have to pick you up on your post that was factually inaccurate: "yeah, cud do with £800k NET profit to justify £8mln on p/e of 10, so still a little way from that from these historic figures, BUT next results should show the big gains" STY made an underlying profit before tax of £1.82m Minus £0.47m tax Equals £1.35m underlying profit after tax Minus £0.31m non-recurring admin costs Equals £1.04m profit after tax. So over the £800K that you state they didn't make on both an underlying and net basis. The results need to be read with an understanding of the pref share situation and accounting. STY start paying interest at 3% at the end of the year on pref share redemptions that begin in 2013. Until such time the notional pref share accounting is just that - notional. STY will need to redeem pref shares going forwards, but they are capped almost exactly at their cash balance now. It's a recovery play on STY growing revenue and profits to cover the pref share redemptions going forwards. Given underlying profits of over £1.3m and net cash of £6.7m equal to the current market cap I think the reward outweighs the risk. But DYOR etc. Last post for a while until more news.

http://www.brrmedia.com/lse/9STY/styles--wood-group-plc/ Good, balanced interview. He mentions the opportunity with blue-ribbon department stores, food retail, and high end retail. Also gives a fair weighting to IT-based solutions in what he is saying. This is a feature of the annual report commentary too IMO. Well worth a quick listen, only about 4 minutes long.

Finance director Philip Lanigan added that the company had finished the year with net cash of £6.7m and had paid off all of its bank loans, meaning that cash resources ccan be used "to help develop and improve the business over the next 12 months". "This has been out best result since 2007 and it shows the work we've done in improving the business," he added. "We're a leaner organisation, we've reduced our financing costs and we've paid off debt and once we get the top line growing again we'll really begin to lever our profitability." One area in which it is likely to invest is in overseas markets. The firm already has a joint venture in Dubai which refits and refurbishes secondary space. Lenehan said he felt the business had "good potential". http://www.thebusinessdesk.com/northwest/news/306522-restructuring-is-reaping-rewards-says-styles-chief.html

http://www.zawya.com/story/Styles__Wood_sees_growth_opportunities_in_Dubai-ZW20120404000133/

... Apart from the underlying profit before tax of £1.8m was this little nugget: " In particular the market leaders in food retail are committed to a multi billion pound investment programme over the next 3-5 years to refresh existing formats."

GBO is case in point IMO. Droped on results then picked itself off and marched upwards again.

http://menmedia.co.uk/manchestereveningnews/news/business/s/1490379_styles--wood-group-profits-soar-to-18m

Now that we're out of a closed period for the share it would be encouraging if the directors chose to buy a few shares. Knigel - look at how Globo (GBO) for example sold down on results, and look at it now. This is a very common effect on results and happens to most shares, as T-Traders and short termers sell down.

Overall, pleased with that set of results for 2011 which was a challenging year economically, with profit before tax and the cash and net cash position exceeding my expecations by some margin.The financial results were a solid improvement over 2011, and the cash position overall is steady considering STY repaid £5.9m in debt over the course of the year. Debacle? I don't see one. The negative in the mix was the slower than expected start to the year, but balanced by positive statements about the outlook in STY's key sectors, particularly the multibillion pound investment that food retailers will be making into refurbishing their properties. Overall, a solid set of results in what is currently a testing market. Divhunter, very balanced post there IMO. As ever, investors should DYOR etc and make theri own investment decisions. Balanced perspective needed, and a good recovery play on the sector IMO. As ever, DYOR and make your own decisions etc

Looks like one to me.

http://www.sharecast.com/cgi-bin/sharecast/story.cgi?story_id=20002543

The SP is at a long term resistance point around 13p, so to see trades go through above ask is encouraging. It's also promising that the MMs will take shares off your hands at 12.5p mid price. Not that I have any intention to sell at this price.