Member Info for Libero

StoneBroke - if it is any consolation to you, I bought in when it first floated at 77p, I said it was worth 130p. It then sunk to 60p slowly before rising up to 120p plus. I was so stubborn about my target I didn't sell a single share, it v briefly hit 130p and I missed my chance to sell cos I was at work, and thus continue to hold. Now that's stupid (in hindsight). Fortunately I intend to hold for years also and, at 24, I don't expect to "croak it" any time soon haha!

http://www.stockopedia.com/content/small-cap-value-report-9-sep-2015-goal-aly-moni-106076/?page=1#comments

are out soon. I'm expecting a 60-70% increase in both revenue and profit before tax (compared to H1 2014). It's going to be great. (although the cash balance, whether PTNP are keeping up with payments, etc will also be v important) Flashy - great to see a new investor on the bb. Welcome! StoneBroke - good to see you're still about and I agree that this is a wonderful long term hold (and that it is FAR too cheap at the moment)

It is remarkably cheap here. Foward PE must be circa 6 at this price. EV/EBIT must be below 9. Very healthy balance sheet with cash in the bank Very positive outlook Hint of acquistions Love it.

Hi DD, You make a good point but... ...if it continues to perform well, through demonstratable increases in its declared earnings, then it will eventually get picked up by commentators / mags / maybe even other brokers... ...once they tip it, many people will start investing here, and it will gain momentum / move into an upward spiral. Whether that means it'll truly reach "fair value" is uncertain, but I feel confident that the share price will rise from here, as the gap closes and the performance improve. For that reason there's nothing to lose from holding at this point IMO. VBR, Lib / Dan

At 131p: Market Cap = £20.4m and historic PE of 13.6. Furthermore we can work out that the EV/EBIT is 12.9, and the TNW covers 97.5% of the market cap. Previously I know that PMR’s peers re-rated substantially, leaving PMR in the dust, and there was the expectation it would play catch up. This hasn’t yet happened, and I’m not sure how the peers are doing at this point so will look into this shortly. Looking at everything else: They have decided to reintroduce dividend payments!! – Great news! The 18 May update suggests the company is doing rather well organically. They have decided to make an acquisition for – if I’ve understood it correctly - up to £1.5m in cash and deferred payment comprising of an equal split between Group and the acquisition’s parent company of any fees from transferred business earned in the first 12 month period, up to £5m. This is a brilliant deal paid for in an unusual way. Presuming the acquisition makes £1m profit before tax this year and next, it means that PMR have effectively made the acquisition at a maximum of 6.5 x earnings, which is superb. Presumably the first year would therefore add £0.5m to PMR’s bottom line in the first 12 months, and £1m per annum thereafter. However it won’t be until the 2017 financial year before the full benefits of the acquisition come through. Once they do, presuming everything is flat, the fundamentals will start looking even more attractive as PMR’s profit before tax rises to £3.15m and the EPS rises to circa 14.1p (giving this a PE ratio of 9.3), making this very cheap and the dividend payment reintroduction and future increases very plausible. Additionally PMR still have so much in cash they could do another handful of identical deals to this. CONCLUSION PMR seem to be doing surprising poorly at the moment but, with the TNW covering almost all of the market cap, there’s little downside and there’s clearly huge upside in the 2-3 years to come as it grows increasingly profitable and starts paying dividends again. For those reasons I am currently happy to hold.

Hi DiscoDave, Good to hear from you. No I probably shouldn’t feel bad selling but I felt a duty to state it on the bb seeing as I have promoted SFE so much, and I wanted to make it clear I would still be holding if my circumstances had allowed it .i.e. I think it’s wise of you to hold. No I’m not in DTG but wish I had been lol. PMR: I can’t give you an opinion on that one, because I haven’t looked at it properly in ages. You’ve made me think that I need to reassess my reasons for holding. Once I have I shall let you know whether I’ll be joining you in selling or not. Good luck to you too. Very best regards, Lib / Dan

I have to confess that I sold out at 244p recently, but not because I thought it was the right time to sell but because my hand was somewhat forced by all the holidays I’ve been on recently (they don’t pay for themselves). I believe SFE is worth circa 270p now, that the decent dividend will continue growing, and a special dividend may be due (or possibly an acquisition!) using up the cash Safestyle has. Furthermore I reckon it’ll continue growing for a while yet because, whilst an interest rate rise will impact on the sector (which is rather cyclical, I think SFE will continue to grow and gobble up market share because the business model is so superbly light. In fact that’s been proven recently with the recent growth despite of the sector shrinking somewhat. Therefore I reckon SFE will continue growing and the share price will keep on rising over the next few years. So it was with considerable regret that I had to sell, but I may buy back in again when the time is right. I bought in at 177p, selling at 244p, and pocketing a few dividend payment I must have made a return of 40% or more, so I’m not too down-hearted. Just slightly.

I remember the Investors Chronicle's Simon Thompson targetted 230p, his target has been met, but I always thought it was too low. I always thought SFE was worth 240-250p from when I first invested ages ago at 177p because I accurately predicted the 2014 FY results. Now I would say SFE is worth 265-270p at the moment, and worth much more in the years ahead. As always I still consider this to be a superb company, with a superbly lightweight business model, as well as a lovely dividend, and thus a proper Warren Buffett stock. Strong Buy

Ecovest - thanks for that link 50glass - a) is a slight cause of concern but, seeing as it was a suprise, it may be a case of people delaying their purchases during Q2 until later in the year b) not really a cause for concern IMHO - interest rates will only ever rise very very slowly and softly. Effect of pensioners spending - bloody good point. I hadn't factored in all those over 55s with much higher disposable incomes now about...

Cash flow has continued to be strong Net cash is now £14.9m as at 30th June 2015 (up from £10.8m as at 30th June 2014) Revenue is up 6.8% Order intake grew 7.1% Market share has increased yet again to 9.5% Early evidence from the company’s conservatory refurbishment launch on 1st April 2015 is “encouraging” Outlook: H1 has been good, with strong order intake the company look forward to the second half with confidence All in all yet another very decent update, which reaffirms my belief in this remarkably reliable company.

Obviously I have to agree with, Rhaegar, that your un-shakable faith in this company has been vindicated by the share price. I remember you felt it was the dark horse of 2014, and I took a little convincing but then decided it was very cheap and had a bright future c 19p (ages ago). For a while it felt like we were the only two who really liked the company. Then REDT publsihed some poor interim results that bore no correlation to previous results etc and it really shook my confidence in the company (the market felt the same way also), and so I sold at circa 17.5p. Leaving you to be the only one in the "REDT Fan Club." Furthermore, when it lost that massive contract I then started having doubts about its future prospects for obvious reasons... ...Yet it has clearly turned itself around since then with positive trading updates, results, an acquisition, and that contract with Allianz. So bloody well done for holding on, Jolly. I agree that it has a bright future ahead of it. 50p is achievable, and I'm glad you're finally making money out of this holding.

MIRA Final Results are out and they hide what good shape the company. FY: Rev – 5.66m, Gross Profit – 5.42m, Profit before tax – (0.11m), EPS – (0.2p) H1 (Interims): Rev – 2.19m, Gross Profit – 2.07m, Profit before tax – (0.82m), EPS – (1p) Therefore H2: Rev – 3.47m, Gross Profit – 3.35m, PROFIT before tax – 0.71m, EPS – 0.8p So, if we expected 2015 to be 2014 H2 x 2, the PBT figure would be 1.42m, and the EPS figure would be 1.6m. This would give us a P/E ratio of 7.25 which incredibly low. BUT it’d be illogical to assume the above because it is very clear that MIRA is entering into an incredibly profitable period. This is illustrated in the Outlook which is very positive and ends with the line “We look forward with great optimism.” And it is crucial to remember that the HUGE Tier One contract (which has a profit margin of 96%) only launched on 16 February – about 6 weeks before the financial year ended on 31 March. Conclusion MIRA is going to have a wonderful 2015 financial year and it is absurdly cheap at this price.

Angelidis had 3.5m before SyQic floated on the stock market. He then used the float to reduce his stake to 2.3m, and he was the ONLY large investor in SyQic prior to the float to do that. The rest didn’t sell a single share. So the fact he’s sold off the remainder of his 2.3m stake is not a total surprise. …although I still think it’s a mistake (however, on the other hand, he may have chosen to retire etc. We have no idea.)

Massive mistake more like! Glad to see that money arrived btw. Cash balance ought to now be circa £650k all things being equal.

In fact, even in September (after the interims came out), I was predicting Revenue of £10.5m, and PBT of £2.2m so these results – for me – affirms the belief I’ve had in this company since day one. Now for some fundamentals: P/E ratio is now 5 – ridiculously low. A company of this type can reasonably be rated on a P/E ratio of 15 (i.e. 122p ish) or more. EV/EBIT – 5.4 – also ridiculously low. You won’t find such a beautifully low EV/EBIT anywhere else. TNW is 66.5% which is also really decent. Conclusion: SYQ is dirt cheap at the moment.

“Revenue increased by 127% to £10.7 million (2013: £4.7 million) • Substantial increase in profit before tax of 250% to £2.1 million (2013: £0.6 million before AIM transaction costs of £0.5 million” Found some previous notes I made to self which said the following back in early December: So, with revenue per month accelerating, FY revenue of £10.6m looks very plausible, showing 125% growth. With a profit (before tax) margin of 21% PBT should be £2.2m ish (2013: £0.1m / £0.57m) So I called that almost spot on! If anyone is interested, my (relatively conservative) prediction for 2015 FY at this stage is for revenue to be c £15.7m (47% growth), with PBT of c £3.1m (48% growth).

As I've been predicting for ages! Time for this to re-rate....

you see shares like GATE which has risen massively on hot air, and - worse still - DAN (which has 17 bagged in 3 months for no reason) and you wonder if the world has gone insane!!

StoneBroke - 100% agree with you. It's ridiculous!