RE: Re. Results.........................................................12 Oct 2019 11:31
At these levels I think it wise to top up if you can and ahead of the forthcoming AGM. We have a mc of about £2.3m at 5p and this imo undervalues the huge potential. The pubs will all have a full year to May 2020 and can expect to contribute a substantial uplift in net profit. Centurion seems to be very active if you watch the stock level movements. The combined contribution of the two business models should contribute net profits of more than £500k imo. A pe of say 12 would put a mc value of £5-£6m or nearer 12p per share. That is without any bolt ons this year and we know they are looking to grow Centurion into Wiltshire. The AGM is or could be pivotal as we could get a promising trading update - GC is also seeking to raise more cash according to the Annual Report. There seems to be little interest in this site at the moment but as you say Fortitude the herd could be on its way and once they read the story we could see a mc nearer £10m. I expect to see some buying from you on your return on 15th October. GL