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sorry to rain on parade but this is not true
you issue a TR1 when you go through every 1pc when you own above 10%
if it was any other way that wouldn't make sense as it wouldn't allow a fund to change its mind the next second, which obviously it has the right to...
very nice article in the Times today on angling...talking about stars like Rita Ora, Beckham, Prince William and George enjoying the sport. Rod licences are up 114pc year on year accotding to the Angling Trust
One club in Beds has membership soaring from 700 to 1100
https://www.theguardian.com/technology/2020/aug/24/zoom-apologises-after-being-hit-by-partial-global-outage
More outages like this please Zoom!
Agreed Dick
Sensational stuff
Growing across Europe
Must the cash generation implies 3-5m profit before tax in 2 months with 15m total less the placing proceeds and working capital inflows
Very good message on margin improvement as that will be key to the story from here -improve online margin. Judging from the website, there's many easy wins there too.
With maybe 15m to spend on buying new shops they are incredibly well placed- maybe on 8x 2019 EBITDA ...so they can buy 2m of profit plus the (very conservative) 4m pro forma they'll make in y.e. Jan 22 ...totls 6m pbt for mkt cap of under 50m which includes an online business growing at >30pc
There is huge underlying growth coming from fact half of shops are under 2y old and prior mgmt did not optimize stock range or processes or margin whatsoever
We now have a more experienced Board, with an ex Dunelm man who will be laser focused on execution and rollout unlike the prior more "lifestyle " founder
Competition will go bust or sell to ANG
Surely this will get.tipped in IC or Sunday papers
There must be many PIs or are anglers and this story will appeal
This long awaited RNS at least confirms we will have sales via Amazon. I@m surprised more aren't looking at this. Unique position with both Amazon and MSFT now. We will now have to wait for early sales progress but shouldn't be too long. Early traction and surely we see those recent £8 highs again soon? I reckon they lay out targets for revenue from these partnerships at the interims some point in September.
The fundraising takes the need for new equity off the table completely now so all about execution. anyone out there looking at this stock??
panmure gordon upped TP to 324 from 236 today. based on 13.5x EV/EBITDA for 2021 in line with small cap tech....
but his EBITDA for 2021 is only £13.2m vs £12.2 for 2020 H1 on its own. Very very conservative after 2 years of disappointments I think he must be somewhat scarred.
Teams has 75m customers and growing at huge pace. If LOOP achieves just 500k customers paying say $5 pcm, that's $30m revenue at very high gross margins. Flavell wouldn't say this is 'seismic', 'huge opportunity' for nothing.
Simon Thompson has indeed tipped us again just now:
The Covid-19 enforced lockdown has forced millions of organisations to adopt remote working practices, providing a boom for remote conference meetings companies and one that could signal a major structural change in working arrangements longer term.
That’s the key reason why I suggested buying shares, at 138p, in LoopUp (LOOP:179p), a London-based premium remote conference meetings company (Alpha Report: ‘Tap into the remote working boom with LoopUp’, 2 July 2020). The company offers its information secure, reliable and easy-to-use remote conferencing technology to customers in key professional service verticals (law, accountancy, investment banking, corporate finance, private equity, asset management, insurance, PR and marketing). The client base includes more than 20 per cent of both the AmLaw Global 100 firms and the world’s top-100 private equity firms. With offices in North America, Europe, Hong Kong, Sydney and Barbados, LoopUp’s geographic footprint covers the world’s major business capitals.
A trading update at the tail end of last week highlights just how these secular trends are increasing the number of users, and profitability, too. LoopUp’s first-half revenue soared by 43 per cent to £31.9m, and on four percentage point higher gross margin of 71.5 per cent. Moreover, with overheads lower year on year, the operational gearing of the business really kicked in, so much so that first cash profits (earnings before interest, taxation, depreciation and amortisation) soared by 249 per cent to £12.2m.
Analyst Peter McNally at brokerage Panmure Gordon had been forecasting a cash profit of £10.7m on revenue of £50m for the whole of 2020, so has been forced to push through material earnings upgrades. In fact, based on what still looks like conservative upgrades, Panmure now forecasts annual revenue rising by 31 per cent to £56m to deliver cash profit of £16.9m (2019: £6.4m) and pre-tax profit of £10.2m (2019: £0.5m). On this basis, expect earnings per share (EPS) to rise from 2.2p to 15.1p, implying the shares are rated on a modest forward price/earnings (PE) ratio of 12, a hefty discount to the UK Small-Cap Technology sector average of 17.6.
It’s worth noting that with cash profit building so quickly net borrowings have been slashed by more than half from £11.4m to £5.4m since the start of 2020, well ahead of Panmure’s year-end estimate of £7.6m. This means that more of the economic interest of the enterprise can now be attributed to shareholders. The debt reduction also reduces interest costs, thus boosting net profits.
LoopUp’s share price has surged by 29 per cent to 179p since I published my Alpha Report and is well on the way to achieving my initial 225p target. Given the scale of the upgrades, the share price risk is clearly to the upside. So, ahead of the company’s operational update on Wednesday 29 July, I continue to rate the shares a strong buy.
i'm short because
the founder of boohoo and until 2017 head of supply chain Jamal Kamani has been PROVEN to own the Dunlop Business Centre by Shadowfall. This is one of the three hotspots of abuse. Why would a Manchester based businessman own property in Leicester
-the family invented PLT as a way to funnel money from you guys- there was a clause to buy the whole thing in 2017 for c£1m more but the plc Board opted not to-it had £17m. They then paid primarily the son and long time associate Paul Papworth best part of £270m in May 2020 for this 34% stake.
-many reports say abuse endemic in Leic and boohoo are 80% of the industry
-Kamanis seen partying with Sobti family
-boohoo was a week late (Friday) in admitting the Sunday Times factory was owned by Jamal Kamani but they knew enough about the ORDER on Wed to cut off Morefray from its supplier list. Did they not discuss with Morefray - owned by the founder - who owned that factory that they claimed they did not know who operated? It stretches credibility too far.
-the Gangmasters Authority 'all clear' as reported in FT was a series of initial interviews with factory owners and workers, hardly an investigation. There were quotes in Times on Saturday from that same organisation that were very damning.
-Leicester will be shut down and there is no alternative for them
-the Kamanis will be themselves implicated in secretly supporting the network of small factories with backhanders- how else are the factory owners living in mansions and driving flash cars. From owning a small factory with 10-20 staff? i don't think so
hi-some people are severely underestimating the recent growth in my view. There was nothing in the 19 March statement to indicate any decent growth pre Covid. I reckon it was just mildly up or flat. Which means the 40% growth for the 4 months was pretty much all generated from 1.5 months from c. 10 March onwards. Meaning roughly 100% up year on year is the current rate and the bulk of that from existing customers. New customer sign ups will take longer to hit the numbers I expect.
Skittish saying the 2019 growth rate was 25% is missing the impact of the 2018 acquisition which contributed almost all that growth.
Forecasts should be in my view looking for H2 to be up c.60% year on year.
rumours from where can I ask Thordon? I've been buying recently. With revenue tied to minutes it's hard to see them not having big triple digit increase in revenues in at least the core LoopUp proposition. I've used the platform and it is very simple as they say and well suited to having external guests on calls rather than Teams, Webex, Skype which require downloads and are better suited to internal meetings
hi all. these going up nicely I see. has anyone heard of outages at competitors? what about the set-up time- how long is it going to take to turn enquiries into revenue?
Sorry - it's a performance fee of 35% above the IRR hurdle of 20% - versus their historical performance of 80%
it is great news-especially that there's a performance fee element which was somewhat unexpected. This $150m materially increases its capital and will make it a more material player on the global stage. Business generates a load of cash as demonstrated by December newsflow, gives you a divi, and trades at around 1x CY 2021 book value. Unlike Burford, it doesn't reprice its book as the cases progress, so it is far more conservative. Its return on equity is in the early 20%s...
The IRR since 2012 it has achieved on cases is 80% including losses. Assuming the fund achieves these returns, and it turns the book at the historical speed of every 2.7 years (call it twice in the 6 year fund life to allow for some slippage):
-then 75% of £150m is the 3rd party capital to earn performance fees on: $112m. if 80% is achieved twice over during the 6 years, the profit share to LIT above the 35% hurdle will be very significant indeed
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There seem a few people who think the gastropubs justify the current share price. Could you elaborate on why possibly ? last avail Companies House accounts for 2016 for Brunning & Price show profit after tax of 5.6m (4.9m,2015 ). Top line of 64m v 54m in 2015. even jewel in the crown is seeing falling site level operating margins (7.2m operating profit v 6.1m 2015: 11.2% from 11.3% when you would expect economies of scale on central costs).
Top line growing 20%
property valued at £148m by Savills in 2018.
But value say £6-7m of 2018 post tax profits from 60 pubs somewhere near the whole group? Please explain?
thank you. Nice 1210th post
After seeing these shares move I had a look for first time and have bought in just on basic valuation With an annualised $2m cashflow from the Asian B2C holding (assuming no growth), $6m cash and a roughly breakeven B2B biz (where one new customer would make it very profitable) means surely the CEDEX hype is just unnecessary? A $28m valuation is not a stretch if the core tech is worth anything at all. I like the Asian biz providing cashflow to fund the R&D of the core. I dont understand or care for blockchain technology at all and have still bought. Anyone willing to offer a post that doesnt include the word 'CEDEX'?