The latest Investing Matters Podcast episode with London Stock Exchange Group's Chris Mayo has just been released. Listen here.
Decent enough. Current cash balance is missing though
I added this afternoon. Outlook provided in interims said they would 'comfortably' meet full year expectations but the price has now dropped back to 5% below what it was at the time of the update. Staff utilisation was reported as being only 64%, so any increase in business brought about by the withdrawal of government support, shouldn't bring with it too much in the way of additional cost.
Anyone know what the revenues of The Hook were prior to the acquisition (Apr '20)? Would like to wok out the YoY organic growth in H2. NFC reported a 1.5% decline but their shares are near all time highs. Did BBSN see organic growth?
Bought this morning. Property market brings obvious risk but converting commercial to residential feels like an excellent market for the years ahead. At a 20% discount to book value and PE of x8 with 20% growth, the risks look more than priced in. CEO has been running the business for 20 years so knows what he's doing and owns over 80% of the stock. Great opportunity to take a stake in a successful and growing, owner operated business at a very attractive price.
F3rr3t, who do you hold your shares with? I contacted HL today and told me that they are not offering the Share Purchase Plan. Absolutely typical now they are trading in the money prior to the deadline.
Not legally but it's become the norm. I've not seen a company pay a dividend without repaying it in full.
Sold out for 37% profit this morning. VAT payments will go against cash balance next year and they will probably repay the CJRS money. How much are the covid related costs they haven't included? SDLT extension might happen and be a tailwind and wouldn't be surprised to see a bid but risk/reward now looks balanced.
AFiCionado, re alternatives, yes, Siemens Energy. The also have PEM electrolyser technology and are valued on less than 0.74x sales of €27bn (not all sales from H2/renewables). https://www.siemens-energy.com/global/en/offerings/renewable-energy/hydrogen-solutions.html
Dipped my toe. At this SP the valuation is around 50% of book value and at around 1x tangible net asset value. The margins are high and assuming demand returns from casinos, this look like a good entry point. Dividend growth pre-covid looked like the sign of a good business. Chairman holds a decent chunk though the insider buying this year could have shown a bit more commitment.
An update around the bird flu situation would be helpful. Have they been affected? If they are, are they insured? They said restaurant closures were helpful in the first half of this year so it's safe to assume the 2nd half has seen a similar benefit.
The bid for Countrywide was increased this morning. Seems to have given LSL another push.
As far as I'm aware we need NSC II and the bid to prevent uranium extraction in Spain in general, not to be successful.
Perhaps they should have hedged the debt package for FX movements but I suppose that would have brought risks of its own. I.e. the hedge could have been A$10m down and the offer of debt finance could have been withdrawn. Not trying to make excuses just a balanced argument. SO4 is certainly not the only company to get stung by FX this year. Rolls-Royce were royally shafted, likewise airlines with fuel costs.
I understand it to mean that the appeal was against uranium mining in general rather than against the only licence we haven't got (radioactivity licence), which is the only thing required to complete the puzzle (plus a little bit of extra cash).
This is the biggest cost. Looks like it has just been moved from bank finance to equity finance?
Can live with that
Don't forget that money raised through equity is money we aren't paying 9% interest on. You can always average down around or even below the placing price to avoid dilution.
I was always cautious around the CP, especially after investor relations didn't reply to my question about them in August. If Taurus hand over the money, that will be good enough for me.