Member Info for jollyspeculator

& 40p sold... ....but still Jolly cheap imv ...sp needs to get comfortably over 50p for Jolly topslicing lol ...no advice intended

Jolly intriguing

yep...worth a punt for Jolly bounce imv

so I will Jolly wait & see

underpins my Jolly pf performance, Libero

run rate EBIT of a little over 2* interims EBIT so 2*£1.1m plus 5%...or £2.3m (Jolly adj) EV (at sp@37p) of c£14m... ...so Jolly adj run rate EV/EBIT (TM lol) of c6 ...but these multiples are ready reckoners ...what matters is the process of thinking though profitability; distinguishing between sustaining and growth cash investment; and sifting through the B/S (not so important here..it looks Jolly clean) etc etc

..

...interesting language by Chairman below; high risk/no advice intended:- Greville Nicholls, Non Executive Chairman of Albemarle & Bond said: "The Group's financial year ended 30 June 2013 was a particularly challenging one for pawnbroking and gold buying markets in which it operates. We were disappointed that the extent of the fall in the gold price added an additional and unexpected challenge for the business. Tough trading conditions have continued to impact our results in the new financial year, but we are managing within our current banking facilities. A formal sale process for the business was commenced earlier this week, and although we have received expressions of interest there can be no certainty that an offer will be made. Further announcements will be made as and when appropriate."

is this not Jolly cheap v NAV & on an EV/EBIT c3-4 (EV of £50-60m; EBIT of c£15-20m) ..what do you think?

gn

2 night

here, I tend to go along with their adjustments...("Headline operating profit* increased to £9.5 million (2012: £7.8 million) - up 22%)....I would include payments in shares (one of my pet hates...if not valuable, why awarded lol?) ...so adj historic EBIT of c £9m...and therefore Jolly adj historic EV/EBIT a little over 15 (high teens)..and perhaps c15 for current year multiple given rapid growth ...I have sold roughly half my original holding but still holding over £10k ...cash profit in hand plus exposure to further upside ..I had thought I would have sold most by now...but the execution by the ceo has been superb...and the vision impressive ...just difficult to sell imv ..aaoo/no advice intended

SAG is beautiful imv...but the really fun part for punters is largely behind us

well, my wildest punt may be abm (riddler dead set against lol) ...eyeing up gdl again ...and i have a zany Bangladeshi company in my sights

I always do the hard yards ..partly because i am naturally paranoid (only the paranoid survive)...but also because it forces you to really get to understand the company...it is all about the Jolly adjustments lol

I'd be surprised if the rating increased much from 15...perhaps the rating will go down as prospects of growth moderate...so expect sp trajectory to be driven by actual growth of EBIT.. to state the bleeding obvious ...this rating is similar to RGS (and I prefer RGS...a truly magnificent specimen...if I love one company, it is RGS lol)

some companies trade on (near) infinite EV/EBIT or n/a...think of marginally profitable tech company for example ...what is BLNX's EV/EBIT? pretty high, I imagine (I still have a free carry but don't pay much attention lol)

yes..was cheaper then... ...but now EV is heftier £48m..so highly rated, no?

well net cash (net of all non trade creditor type liabilities...so net of pension deficit, bank debt etc)

MCAP minus cash...c£54m-£5.6m?