Member Info for jollyspeculator

yep

difficult to calculate average debt & there is high profit attributable to minority ...on adj p/e, seems reasonable (but not cheap given £84m net debt) at 7-10 ...no advice intended

so I have to agree...let's sea (gul)

this £25-28 in; £32-35 out game continues imv

sensitive to downturn if 2007-9 any guide ...no advice intended

and sensitive to downturn if 2007-9 any guide ...no advice intended

but for what? ..why don't they buy the debt?

if risks have increased, then EV/EBIT multiple should be lower ...EBIT last year was c£8m ...multiple of 7.5 would make EV c£60m ...av net debt of c£28m?...so mkt cap of £30-35m ? ...perhaps 10% lower? ...of course, the EV/EBIT multiple c/should be higher or lower.. ...and the same uncertainty applied to EBIT for this year and next (and beyond) ..aaoo/dyor

..

EV around £7-7.5m ..EBIT around £1m & growing (12% last half year) ...Jolly cheap growth imv

The red24 business model has been developed to provide organisations and individuals with comprehensive risk management assistance from highly qualified specialists, 24 hours a day. Assistance is provided on an escalating basis as threats develop: Advice -> Support -> Response Clients can select the level of assistance they wish to embed in their own product and the level they wish to buy in on an ad hoc basis. This approach has enabled us to sustain margins as the business has expanded and has led to opportunities to utilise the model to develop other services.

Our balance sheet has continued to get stronger and we remain confident about the ongoing prospects for our business. Accordingly we are pleased to announce a further increase in the dividend payable to shareholders."

HALF YEARLY REPORT FOR THE SIX MONTHS TO 30 SEPTEMBER 2013 Red24 plc ("red 24" or the "Group") is pleased to announce its unaudited results for the half year to 30 September 2013. Highlights: · Revenue from continuing operations increased by 17% to £3.22 million (H1 2012: £2.75 million) · Profit before tax from continuing operations increased by 12% to £457k (H1 2012: £409k) · Interim Dividend of 0.22p, a 10% increase on final dividend last year. · New contract wins in accident and healthcare, including renewal of the AIG contract for three years to March 2016. · Acquisition of a 25% stake in an enlarged training business - Linx International Limited ("Linx") following the sale of Arc Training International Ltd ("Arc") to Linx. The merged training businesses are performing ahead of expectations

perhaps debt burden ..or execution risks?

so reluctantly forced to sell more @29p

arrive

The directors are proposing a final dividend of 5.66p (2012: 9.68p which included a 5p special dividend)

was £4.1m - £1.8m...so £2.3m ..so run rate EBITAG (annualised) was £4.6m ...perhaps EV is now in £28-33m range given appreciation here (5m*£3.3/share+£16m for ords...perhaps minus £5m if you don't see pension deficit as fully offsetting cash) ...so Jolly adj EV/run rate EBITAG is c6-7 ...pls check the sum

The transport division continues to struggle with weak demand caused by the cutbacks in public sector spending in the UK and we do not expect this to change in the short term. However there are currently definite signs of recovery in some of our major markets, although there is uncertainty about the sustainability of the trend. The UK economy is growing again and North America continues to improve. Conversely Australia has fallen back in the majority of our markets on the East Coast. At the moment this is expected to be a relatively short term dip, but we do feel it will last until at least the half year point. Overall, as long as the recovery maintains its momentum, we feel there is a good opportunity to achieve improved performance in the coming year.

Dividends We believe it is prudent to retain a cash reserve for the business and do not intend to change that view. However, one of our objectives is to increase the cash returned to shareholders. Our dividend cover has historically been very conservative, but we have consumed cash on a number of planned investment projects in recent years and the continuing support of the pension scheme. With our current business position we believe we can raise the dividend and still remain relatively conservative. As a result it is our intention to increase the dividend to a level where on average the maximum cover is 4 times earnings per share. Clearly this is subject to the cash position remaining healthy and any exceptional items. In view of these intentions, we are proposing to increase the dividend this year despite the disappointing performance.