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Thanks for the posts Hedgehog. Offer has moved up to 37 this morning, bid remains at 30, live prices are 30 - 36.58. Significant spread strange the bid is not moving up, we were 30-33 a month a ago.
Sent this morning to IR.
I have been a holder for nearly 20 years, at no time have I been more excited about the future given the US and re-occurring revenue model and I consider the business to be significantly undervalued. Whilst I appreciate the management are releasing updates indicating positive momentum, I have been unable to review in detail the business performance for 2021/22 due to the delays in the publication of the accounts and I have been unable to question the management team at the resulting AGM in respect of this performance.
I attended the last physical AGM in October 2019 and several AGM’s before this. I have also attended the various online events held in recent years and was looking forward to the investor presentation planned in December that was subsequently cancelled (without reason that we, as shareholders, were made aware of, although I expect it was due to the delayed accounts).
I would like the company to consider whether it is able yet to communicate a date for the release of the 2021/22 accounts? Whether it can indicate when it will hold an investor presentation? When and where it will hold its AGM? It is really time to drive through a significant return for shareholders, we have been patient and supportive, but I personally am beginning to get a little frustrated. I have more cash and could invest more but I really would like to base my decision to invest on the most current financial information which I am unable to do this at this time.
I look forward to a response.
It would be lovely to have a break through year but at the current rate of accounting turn around we may not get to hear about it until 2025.
Appalled at the lack of the publication of results, particularly when the revised date was the end of November. I will not be voting in favour for any directors renumeration improvements at the AGM (if we ever get one) given the huge miss on what should be bread and butter.
I hope to be dazzled when the accounts do materialise by the use of the available reliefs and tight cost management. I also expect a thorough update on trading with further positives or I am going to hit the sell button on my material stake. Self harm it might be but the rest of my portfolio has been doing very nicely and my money here is stagnant. Nearly 20 years and unless I'd traded out when we went from 1p to 4p (50p to 200p new money) I'd have been no better off. It is the knowledge that this is a good business, poorly run, that ends up killing you. Any normal business (not a family business) would have taken action a long time ago. Our directors, CEO and non-executives with their noses in the trough have done nicely taking their salaries and bonuses leaving those shareholders on the outside with nothing.
Only you and I on here Hedgehog so sorry for moaning at you. I am simply aghast at the way we are treated.
It not only continues but the volume purchased each day has gone up significantly since the posting of the results. We're already over 2m shares for this week (avergae is under 1m per week). I guess we save ourselves the dividend on these shares if we buy them now and it explains the slight improvement in the price. What will happen when the buy backs stop is slightly more worrying. A drift back down without some more news?
I sold up a while back (253p) and the price has been pretty flat since the last dividend payment. With the deal likely to go through in December where the price will be 263, at 250 there seems to be 4% as a gain on the table (after costs) to buy in here. Any thoughts on the gap and when it will close. Anyone else considering buying at this level to make what looks a guaranteed return? The risk I guess is that it does not happen but that seems remote. Any thoughts?
Totally agree and we appear to be on the move again. Given the shift in the price relatively few sellers have been flushed out, this could easily spike again, 50% upside to the average price of 140 for the last 12 months.
I don't mind the name Newmark Security and I expect it carries some weight in the market for the products they distribute, don't forget there are sub brands underwhich products are sold. Rebranding and the associated costs of agencies, websites, materials, legal contracts etc would cost as well as management time when we really need to be concentrating on hitting numbers and driving a profit. Nothing wrong with rebranding when we can pay for it out of profits if the business case stands up (needs a bit of research into whether it'll make enough difference to investors/customers). I am in the camp of the numbers must do the talking.
Enjoying your posts Hedgehog but EnSilca is a very different business.
There are a number of issues with Newmark that hold back the valuation but the main one is the family and shareholder control over the business. They control the business and make it the usual investor pressures very different. Most of the significant shareholders do very nicely out of the business as they receive some renumeration from the business. The rest of us shareholders are left a bit in the cold and this puts off a lot of investors.
The only way to get an increased valuation here is for the profits to start flowing and for them to be embedded in the business. Not swinging from profit into loss, profit into loss.
We did very nicely when the profits were flowing, nearing what today would be around £2.50 a share, but the profits didn't last and down we came.
I have for a long time been pushing for deals that involve reoccurring income through licences and maintenance which can underpin the revenue and remove some risk from trading. Too many times in the past slowdown in revenues against a fixed cost base have hit profitability. With no AGM I have not seen or heard from the management in a while.
However, we are now building in embedded reoccurring income and the expansion into the US is going really well. Costs seem to be under control and we are building price increases in to mitigate inflation. So I hope this really could be the bottom. In the end it will all come down to the numbers for this trading year and then how we can demonstrate this is not a one off. If we can pull that off then maybe 100p is a 12 month target, if we can do it again for a second year and show further potential then 250p could again be hit. 24 months we could be 8x higher than we are today in share price terms but they have to hit the numbers!
I read the results as revenue up but we did not increase prices to take into account rising costs so we are down on profit. We have borrowed more that expected yet are keeping the share buyback and increasing the the dividend. We expect to hit our numbers we have agreed with the board but we are letting you know that we are now cautious in our outlook. Overall this is not the positive update I was expecting as we have had a buoyant market up unit the last few months. We did not need to increase the dividend today neither should we be adding to debt to buy back shares as we do not know where interest rates will end up in the short/medium term. I have an average in the low 50's so not too happy with update today.
We are never going to get rich on deals this size to the number 1 military spender in the world. Nice to have as a customer but boy do we need to learn to upsell! Plus we need approach every other big spender and explain why the US has purchased these wearable detectors and why these are a must purchase. We need bigger orders, servicing contracts and profits urgently!
By spend 2022
The United States ($750 billion)
China ($237 billion)
Saudi Arabia ($67.6 billion)
India ($61 billion)
United Kingdom ($55.1 billion)
Germany ($50 billion)
Japan ($49 billion)
Russia ($48 billion)
Barclays raises AB Foods price target to 1,700 (1,500) pence - 'equal weight'
Deutsche Bank raises AB Foods target to 1,600 (1,575) pence - 'hold'
Goldman Sachs raises AB Foods price target to 1,420 (1,380) pence - 'sell'
Results look great and digital offering to come.
I've today messaged Marie-Claire to request they RNS the expected publication of the end of year results as well as requesting a trading update. The pre-results update read well and I appreciate we have a new CFO but we now over due the results and an update.
I remain positive on Speedy yet am amazed at the price. We have been steadily buying back shares, have paid a strong dividend and indicated in the last update that results will be in line if not ahead of expectations. That means continued dividends and the possibility of further buy backs (what else to do with the money?). Okay so the outlook has issues but not on capital spend, which requires machinery and Speedy is in a good place. Schroders today put out an increase in their holding so they are happy. So any ideas people? What am I not seeing? Should we buy HSS and spice things up a bit? Views welcome.
Just Group was boosted by an upgrade to 'market perform' at KBW. They were previously the lowest broker by far with a price on JUST of 48p. A move to market perform is excellent news, let's hope we can move back up towards a £1 then beyond.
Sucker here too. My first purchase was in the 70's in 2013 shortly after the float :(
At an average of 22p and with 65,000 shares it would be nice if this moved up as the opportunity cost of being here has been significant compared to my other investments. However, I see the light. The forecast revenue growth and move to profit is significant, particularly given the IP position. I see many of the contracts and particularly the revenue becoming embedded and thus continuing to build. Make one profit and it is easier to make the next. One time will tell but even when we pass my average hold price I will continue to hold. I need double my money back at least but the top end valuation would be nice.