The latest Investing Matters Podcast episode with London Stock Exchange Group's Chris Mayo has just been released. Listen here.
Cash generated from operations (before working capital changes) last year was 30p per share. Interest and lease payments are easily covered. This surplus may decline this year as coal and gas prices diverge but there is still the upside from completion of legacy contracts. I see plenty headroom to 2013. They do have more than their fair share of "one off" disasters though. I topped up yesterday, but this is now a highly speculative hold for me. Widows and orphans step away from that ATH.
Since DLM got into gold mining two weeks ago. AHG cost .27, latest price 19. Answer required.
Take out the cash (it doesn't need it) and you have a PE of 4. The wholesale business alone is worth over £100 million. Just sit back and wait,
third quarter ended 31 January 2012. Group performance Group profit from continuing operations (stated before amortisation and exceptional items) for the nine months ended 31 January 2012 has been in line with that achieved in the prior year comparative period. The outcome for the year will be dependent on performance in the final quarter, historically a busy trading period. Continuing operations The core insolvency and restructuring division has reported improved profits and margins for the first nine months of the financial year, reflecting the benefit of cost savings implemented in prior periods. Activity levels in the UK insolvency market remain subdued, due in part to the continuation of the benign financing environment of low interest rates, whilst the realisation of assets remains constrained. In light of the trading environment, we continue to focus on our cost base. Headcount in insolvency has reduced from 501 at the last year end (30 April 2011) to 470 as at 31 January 2012, a reduction of 6.2%. Ongoing efficiency initiatives will incur exceptional costs in the second half of the current financial year with the benefit to be realised in future periods. As stated in our half year results announcement in December 2011, the Global Risk Partners division has not yet replaced a number of large and profitable engagements, which were completed at the start of the financial year. The sales pipeline remains strong although any new engagements are not now expected to materially benefit the current financial year. We have continued to invest in the division through senior recruitment in the UK forensic business, the cost of which will have a short-term impact on profitability. Overall, the division is expected to generate a small loss in the second half of the financial year. Discontinued operations Since the half year results, we completed the disposal of the Channel Islands Insolvency and Restructuring business. We continue to make progress with the divestment of the Red Flag business and expect to complete a transaction by the end of the current financial year. Net debt The Board currently expects net debt at the end of the current financial year to be at a similar level to that at 31 October 2011, comfortably within the Group's banking facilities. Commenting, Ric Traynor, Executive Chairman of Begbies Traynor Group, said: "Our core insolvency business has maintained its market leading position and continues to benefit from cost savings, resulting in improved profits and margins. The Group outcome for the financial year as a whole will be dependent on the important final quarter's trading. "Having made good progress with our disposal programme, we remain highly focussed on maximising the performance of the core businesses."
Anton has won and I am no longer a shareholder
AHG is doing what it is meant to do, investing in companies and DLM while high risk may prove to be a great investment. DLM is NOT doing what it is meant to do. It is taking a punt on a speculative investment company risking dilution of us shareholders against the chance that it may be able to offload AHG at a profit. That is gambling and, as I said, it stinks of something else going on, otherwise why behave like this?
Perhaps the reason for our investment in AHG is we are going to teach them how to run an investment company (someone needs to) or maybe DLM is getting into mining. See AHG on iii to meet our new and very unhappy friends. AHG are so disorganised they could not even get the RNS for their side out yet. This is a gamble and it stinks.
After a hard night 's drinking or drugs more like. No cash raised here - they have swapped new DLM shares for shares in a piece of sh**' called AGH. I repeat my question, WTF s that all about???
Is that all about?
could be off again
isn't +37% strength? So you are saying buy now and sell now. I am confused
I sold 2 million yesterday because of the small placing. Stand back, this could be messy
We seem to share a number of interests. You must be pleased :-)
I can sell 1m for .235
we have this sudden interest?
Yay!
Surely. All hard assets. NBV is 567p per share. Intae im!!!! Get right up im!
just another £1 million and keep it all. Peanuts = 0.2% of their market cap and cheaper each day. Why would they just not wait? Is there any way out here?
This company is indestructible http://www.moneyam.com/action/news/showArticle?id=4270996
http://moneyam.uk-wire.com/cgi-bin/articles/201111140700359954R.html