Member Info for Dartron

Investing is more about the future than the past. Its not my fault if GBG was over valued back in 2021.

Im happy there is at least 25% upside here, in fairly short order - and im not the only one.

16-Oct-25 Peel Hunt Limited Add 300.00 300.00 Reiteration.

Since it is only a trading update, its difficult to judge the wider points you make Terry. Yes headline revenue flat, but it goes on to say in spite of winding down legacy operation, and against a tough comparator. I also think its stupid to hark on about the past, when these shares were £10. That's not the case now, they are £2.40. Completely different valuation, completely different phase of the company. I do not see GBG as a growth stock to shoot the lights out, I see it as a steady compounder, and to say Jam tomorrow when they have spent £20m on buying back and cancelling shares is ridiculous. If its not for you, that's fine, but it sounds like you have scanned the RNS and have little understanding of the situation.

KS, my strategy for trading was to buy more at 252, and wait out for the dividend. I calc its about 43 days of margin for me, but I expect to take £8 for every £9 paid. In that time, I think its inevitable that the price will rise, at least in to the dividend. You only need a 10 point rise to be compensated for the dividend entirely. With Spreadbet, your looking for points, not percentage gains. I would rather exit the trade early than take the dividend. Sell order already set, if it spikes up. Rinse and repeat if it drops. (This is sperate to my SIPP holdings, which I just leave alone.)

Longterm - The more I think about it, the more I think Shakespeare will sell this, but it might take another year of trading (proof) to get PE interested? Although the lack of permanent CEO suggests it could be sooner.

Sold my Jpm Uk Sml Cap before the update, week or so back. They have gone no where for about 2 years. And no real changes in the pf either. pf manager not doing much as far as I can see.

Anyway, just thinking about AT - its the quiet period now. No news until at least January. Possibly March. Being somewhat driven by the oil price, I would forget about these until after Christmas. A O&G play is probably a better use of funds, at least you can get a dividend on it.

Would someone mind explaining how the reported shorts increase when the newly reported short says their is no change in their holding? Genuine question.

They will be short already, like at 0.40%. Then on the results day they took 0.1%, which puts them over the reporting threshold.

I think that a short closed in the morning, I got that nice trade 260p to 275p. Then other shorts, sold it back down. They all have different strategy, I wouldnt read much in to a 0.1% increase - just yet.

Year to 31 Jul Turnover (£mn) Pre-tax profit (£mn) Earnings per share (p) Dividend per share (p)

2021 169 18.9 11.5 6.00

2022 221 25.3 15.7 7.00

2023 258 44.7 31.5 8.75

2024 335 4.00 -2.00 9.00

2025 389 18.1 11.5 9.25

For my own records, save having to dig it out

Management confirmed that the business was on track to deliver full-year adjusted operating profit in line with the group-compiled analyst consensus of £31.2mn. Luceco trades on nine times forward consensus earnings for 2026 (125p).

IC has reviewed the results and tip it as a buy albeit, they point out recovery to be slow.

YouGov now trades on 7.4 times forward earnings.

UBS cuts YouGov price target to 510 (570) pence - 'buy'

Deutsche Bank Research cuts YouGov price target to 438 (565) pence - 'buy'

Good that in general the recommendation is to buy, buts its not going to be a fast trade or investment. However, 7 times, with a 3.5% dividend and potential upside seems like a decent entry. I would speculate that Shakespeare will guide the company to a buy out.

Bytes have around £80M on the balance sheet, If the head count is high, we should trust them that they know what they are doing.

Its obviously going to be another stock that shorts will just grind in to the ground over the long term. Nothing to do with fundamentals, but they just seem to work the same stocks over and over until they end up on a PE of 5. Its not out of the question this could get a bid one day. Im happy holding, but i wont top up unless shorts take this back down near the 330's.

They have not even made that sort of info available to quote data, or brokers. They are not going to go that deep on a single investor call. In fact, I think we should rein in our expectations somewhat.

Senator, if your so concerned, why don't you arrange an investor call, I assume you are on the register :)

I would say that is really bullish. Someone from the same business sees value here.

Bought back the stock I sold this morning (that was just luck, I didn't think it would come back down here).

Double bottom at 250 -260. Dividend yield over 3.5%. Happy to hold.

Be surprised if it doesn't end the day green.

Yes they dropped it down on low volume. What an opportunity to buy under £2.60, your getting a 3.5% yield.

5 firms here are short, they will have to buy at some point.

I just got 15 points 260 to 275. You can make these games pay.

Financial highlights

Strong revenue growth of 16% (FY24: 30%) on a reported basis to £388.9m, reflecting the full year impact of YouGov Shopper (formerly CPS). Underlying1 revenue growth of 1% (FY24: 3%) as we stabilised the business during a period of organisational change and leadership transition.

Adjusted operating profit up 22%, slightly ahead of market expectations, with underlying1 growth of 26% as the benefits of the cost optimisation plan are realised.

Adjusted operating profit margin improved to 16% (FY24: 15%).

Adjusted earnings per share up 8%, at 31.7p.

Robust balance sheet position maintained with cash at period end of £54.8m (31 July 2024: £73.6m) and leverage ratio1 of 1.7x net debt to EBITDA.

Shorts being returned

17-Mar-25 16:39:12 300.00 -81,610 Unknown* 251.00 251.50 -244.83k O

18-Mar-25 11:03:41 303.00 -52,146 Unknown* 251.00 251.50 -158.00k O

I think its interesting that Saba capital have taken a stake in Gore street energy, where the accusations are much the same as what is being posted here. If you dig a little deeper, Saba joined activist investor RM Funds at gore street. Looking at the register for NESF, RM capital (same firm) are already on the register. It really seems like the same set up unfolding here. I think its ripe for an activist rather than a take over. If going by what has been posted here, then activists could renew the board, stop the bleeding of fee's by the back door. Perhaps even take a strategic approach to merge the assets. Since the largest holder base is retail, it would also be easy to excerpt pressure with a relatively small position.

Given the current share price, the damage is already done here. any one selling now would be foolish. There is plenty of scope to rebase this dividend back to 9% and it be covered, especially if activists can drain the swamp or pressure the board. We should remember that NESF did pass a continuation vote not long ago, so the majority were happy back in the summer. The situation is not unsalvageable IMO. I have added.

Well done zebbo. They need to do more PR (online videos /interviews), aimed at retail share holders, like investor meet, or quote data.

I have been buying a few this week. I think the article in IC mag had it right - this is a mean reversion trade, 18 months time frame.

I also think its funny that we already had the trading update, which caused the stock to rally, so buying now is very low risk IMO.

Surprised shorts are not covering at least back over £3.

I would say that for shorts, this is a very crowded trade. When they gapped it down this morning, they could only drop it 10%. They all rushed in to buy! I expect they will close the gap in a matter of days, 130p is still cheap for the update - which wasn't awful imo. I added a little more today, its one I wont be worrying about for a year or two. As for shorts, where do they go now - 5 firms all need stock, price is now rising. Look at STEM for an example of the set up I think IBST will be..