Member Info for Libero

Good spot this one. The fundamentals, having had a 3 minute look (lol), look good. At c 185p the P/E is 6.4, EV/EBIT is 6.9, the TNW is 79%, and the yield is 3.3%. All very good. If the prospects look good also then it looks like you're on to a winner. Hope all is well with you! Best regards, Dan

Superb choice, Jolly. I bought in ages ago just under 20p, sold upon disappointing results (which came with no warning), and think that was the right choice at the time. However I was clearly wrong to write REDT off entirely. Clearly. Based not just on this superb RNS but also on their FY results. Additionally I cannot stress enough how big a deal this RNS is. Allianz are one of the largest insurers in the world, with ambitious growth plans themselves. Furthermore, having Allianz as a client will look v good to other insurers meaning more big news like this can be expected. Well done to all those invested here already, and especially to Jolly for not writing this off in order to see the opportunity here.

Even after today’s big rise the multiples look like this at 11p: P/E – 7.9 EV/EBIT – 7 TNW – 19% Very tasty

Post recommended I'm intrigued by that final statement also. So much more to come here, very happy to be invested.

thehierarchy - thanks for posting that. The private punter is a good analyst so I'm glad to see he likes SYQ too!

"SyQic is also pleased to announce that following the receipt of further payments from its telco partners, the Company's cash position has substantially improved from the position at 31 December 2014." But yeah otherwise decent RNS, I'm still incredibly bullish here, and think this is significantly undervalued.

Laura Ashley Holdings (LON:ALY) Share price: 29.13p No. shares: 727.8m Market Cap: £ 212.0 m (at the time of writing, I hold a long positon in this share) Preliminary results - for the 53 weeks to 31 Jan 2015 were published at 14:38 this Friday afternoon - I'm unhappy with this on three fronts: Firstly, I was winding down for the weekend, so it is inconsiderate of the company to publish its results at this time. Secondly, announcing results during market hours is unfair on shareholders, some of whom will be able to read & digest the results quickly, and hence gain a competitive advantage by buying more, whilst other shareholders may not read the results until the weekend and might have to pay more on Monday morning to buy shares. Thirdly, this is the first time the company has informed the market of how it has traded, since its interim results on 5 Sep 2014 - that's far too long a gap to leave shareholders in the dark, and it should have put out a Xmas trading update. Key points; Anyway, setting those grumbles aside, these figures are a pleasure to read, and seem positive on almost all fronts; • LFL sales up 1.3% for the full year - reasonably good • Profit before tax up 14.6% to £23.5m • Adjusted EPS up 22.1% to 2.43p (beats consensus EPS forecast of 2.1p by 15.7%) • Net cash of £27.8m (3.8p per share, 13.1% of the market cap) • Current trading is stronger - at 3.0% LFL sales growth for Feb- Mar 2015 • Total divis of 2.0p maintained, giving a tremendous 6.9% yield • Online sales growth was good, at +8.6%, now totals 16% of all sales • Balance sheet is sound, with £43.9m NAV, and £41.9 NTAV (writing off intangibles) • Pension deficit has risen from £8.8m to £17.8m So clearly all of those points are positive, apart from the very last one, which is negative, but unavoidable. Valuation - the most appropriate EPS figure to use for valuation purposes is the 2.43p adjusted EPS, so at 29.13p the PER drops out at 12.0, which strikes me as being a bargain, given that the company is trading well, and profit growth this year should be good. Cantors has upgraded its 2015/16 EPS forecast from 2.3p to 2.45p, which strikes me as very conservative. I'm pencilling in between 2.7p to 3.0p EPS for this year. If you adjust out net cash of 3.8p per share, and go with my forecasts, then the cash neutral PER would be between 8.4 and 9.4, which looks too cheap, in my opinion. Cantors has a price target of 35p, which looks achievable, in my opinion, so there should be a good 20% upside on the current share price, in my view. Outlook - 3.0% LFL sales growth in Feb - Mar 2015 is good going, well ahead of last year, and it sounds like management are confident this will continue; My opinion - what's not to like?! These are good figures, with a positive outlook, and the shares look good value to me. I love the big dividend yield here, and that alone sho

Universe (LON:UNG) Share price: 7.7p No. shares: 220.3m Market Cap: £17.0m Preliminary results - for calendar 2014. Turnover and profit are usefully up, which they say is due to 16% organic growth, plus acquisitions made in 2013 kicking in. Broker consensus is for 0.75p EPS for 2014, with the result coming in a bit below, with "underlying" EPS of 0.71p. Outlook - there's nothing specific, but generally positive noises are made in the Directorspeak. Balance sheet - not great, but not alarming either. Net tangible assets are just about positive, at £2.0m. The current ratio is 1.18, which I could live with, given that inventories are very low. There is a modest amount of debt, c£1.8m, which was more than covered by year end cash of £2.1m, although one would expect the year end cash balance to be untypical, as most companies like to window-dress the year end figures. Cashflow - net cashflow from operating activities is very good, at £3.0m, however don't get too excited because they spent £1.1m of that on capitalised development costs - so the usual issue with IT companies in that the headline EBITDA figure is not a reliable way of measuring genuine profitability. Dividends - none, unfortunately. My opinion - the price looks about right to me. This company has performed fairly well in the last two years, and so the price of a PER of about 10 looks about right. Investors should remember that small companies like this really should be cheap - as their profits tend to be volatile, and the company is often heavily reliant on a small number of key customers, staff, and contracts. So a single digit PER is the right sort of price, stretching up to about 10 if the company is performing well, as in this case. If there was some catalyst for a big increase in future profits, then I might be interested, but there's nothing of that nature in the narrative that I can see. Therefore it's not of any interest to me - I think there are better growth opportunities elsewhere. It comes up with a good StockRank of 88 mind you, and the operating margin is quite good now too, so maybe I'm being too pessimistic about it?

small caps expect has written a glowing review on SOM. So glowing in fact that you can tell he's really doubting himself on it (think he must have missed something) but nevertheless it's v good. http://www.stockopedia.com/content/small-cap-value-report-7-apr-2015-som-gbg-flyb-95962/

Stonebroke - I'm in a very similar position (c 43% down), here for the long term, and it'd nice to be back to break even soon. I'm confident that will happen this year. pablo - no I don't have an accountancy background. I studied economics at university, am quite numerical, but never any done any accountancy. No I got my figures from conservatively working out the 2015 revenue figure (the hardest bit), working out EBIT as a % of the revenue for 2014, and then applying that for 2015 revenue figure I've predicted. & something similar for the EPS. Obviously if there is a placing my EPS figure will be out but otherwise I'm confident on my predictions. My 2015 revenue prediction was used from piecing together various RNSs. From doing so I worked out the following: Average monthly revenue for Jan to June = £0.77m (from HY report) Average monthly revenue for July & August = £0.98m September revenue = £1.16m Average monthly revenue for October, November & December = £3.94m / 3 = £1.31m Therefore my 2015 year prediction is 2014 Q4 revenue annualised (i.e. £3.94m x 4 = £15.76m). I know it's a crude way to do it but you can clearly see how revenue per quarter / month grew and grew as 2014 progressed so I thought it's only fair to use the most up to date revenue figures for my 2015 prediction. Does that make sense? Zulu principle - I've heard of it but haven't read it and thus don't have an opinion of it. Let me know what you think.

(after lots of research)... I believe that 2015 Revenue will instead be £15.5m to £16m therefore, using 2014 as a guide, it appears as though EBIT will be £2.8m ish and the EPS will be 11.3p ish. This means that, at a conservative PE of 12, SyQic would be valued at 135p a share. Additionally it means that, at 44p a share, SYQ has a forward EV/EBIT ratio of just 4.5 and a TNW that equates to 84% of the market cap. In other words this is very undervalued, it has the potential to triple bag when it re-rates, which it hopefully will this year as its cash flow improves. If not this year it'll be next year.

Allenby Capital seem to be rather fair in their analysis previously and often quite conservative therefore, despite being SyQic’s broker, their opinion has credibility IMO. Allenby Capital tout the significance of the Viki partnership here: http://allenbycapital.com/research/research-syqic_13_1394381595.pdf It believes it is good for SYQ on a variety of fronts: 1) “Viki was bought by Rakuten in September 2013 for a reported $200m. We believe that today’s announced partnership could lead, if the partnership is a success, to a buy-out or investment by Rakuten – especially given that SyQic trades on under 4 x forecast net earnings [at 51p]. If nothing else we belive the partnership raises the profile of the company to other suitors and helps to validate the SyQic team and business model.” 2) SyQic belives that it will be able to leverage off Viki’s existing license arrangements in other territories to accelerate its launch in Europe, South America, the Middle East and Africa. 3) The deal greatly increases content available on SyQic’s platform thus increasing its attractiveness Allenby Capital adjusts its forecast for 2015: http://allenbycapital.com/research/research-syqic_14_3192486456.pdf 1) 2014 surpassed its expectations in many respects. 2) 2015 EPS forecast to be 10.4p now; Profit before tax expected to be £3.09m. These forecasts are lower than previous due to a “higher cost base.” 3) It understands the reasons for the low cash amount in December 2014 (of just £0.22m) but believes that it will mark a low point. 4) It confirms that PTNP were paying SyQic with a 6 month delay. This has now increased to 9 months. Not good. 5) …however it believes that £50k-£100k per month will be added to the cash position going forward. 6) It believes that SyQic is undervalued and that a re-rate will occur during 2015. In conclusion: 1. SyQic seems to be less lightweight than it was originally and consequently Allenby Capital (AC) have revised their profit margin forecasts downwards, which is disappointing but – without knowing why the cost base has risen – I can’t argue against it. 2. AC have also revised their 2015 revenue forecasts down from £14.6m to £13.5m. This is rather ridiculous because (1) they haven’t justified it at all; and (2) they forecast 2014’s revenue far too low previously (SyQic’s 2014 revenue was £10.7, which is a massive 37% above what AC forecast). Therefore I think this can be ignored. 3. AC believe that the cash flow will improve, and once they can prove that to the market SyQic will re-rate. They believe the cash position will improve from £0.22 in December 2014 to £1.06m in December 2015.

http://www.iii.co.uk/articles/232510/trio-aim-shares-your-isa Links with Microsoft give it a strong niche FY PBT will be £6.6 to £7.6m FY PBT for 2015/16 will then be £9.6m it is predicted thus trading on just over 8 times 2015/16 earnings, could easily be in the teens

http://www.stockopedia.com/content/small-cap-value-report-27-mar-2015-jdg-cnks-rbn-95617/

Trakm8 produces vehicle tracking systems and telematics that monitor the vehicle location, driving style and various other outputs such as passenger occupancy. These enable fleet managers to optimise response times and reduce running costs. Insurance companies, such as the AA, are now adopting the technology to support lower risk premiums through driver monitoring, proactive incident management and post-incident investigation. 2015 revenues are forecast to grow by 95% to £18 million through a mixture of organic and acquisition led growth. Adjusted profit before tax in 2015 is expected to grow by 89% to £1.7 million. http://citywire.co.uk/wealth-manager/news/hargreave-hale-four-aim-stocks-with-significant-potential/a805462?ref=wealth_manager_all_stories_list#i=3

PBT is up 73% EPS has doubled to 16.5p The total dividend for the year is 9.3p Market share has grown for the 10th year in a row. It now stands at 8.48% of the market (up from 7.85% last year). Liabilities are down and the cash in the bank is up (from £5.2m to £8.5m). The outlook is very good for the year ahead. Consequently, at 185p a share, the following is true: PE ratio is 11.2 – superb considering the growth EV/EBIT is 9 - excellent Yield is a little over 5% - fantastic. Easily one of the best on AIM. Therefore, based on the above, a reasonable share price for SFE would be 240p ish I reckon – representing a 30% uplift (or 35% if you include the dividend)

Rhaegar, I totally agree with you that this is very undervalued and the current price seems unfair.Here’s my thoughts (which I posted on the General Chat topic “riddler’s technicals”): “PMR - Final Results are out today, and they're very good. -Profits are up 84% -Cash has doubled -Liabilities are significantly down -The dividend has been re-introduced as a reflection of their… -…Very Positive outlook -EPS is now 9.64p (up from 1.32p) Therefore PMR seems cheap and - considering the bullet points above – due a good re-rate I'd say. Especially when you look at how PMR’s share price has performed against its peers! The market can be very harsh sometimes...” And I’m not the only one who thinks it. This is what Paul Scott, small cap expert, had to say about the results: "Hi jimbobjames2002, I had a very quick look at Panmure Gordon & Co (LON:PMR) results (which I hold), and thought they looked good, with positive outlook. So very odd that the shares fell. Very illiquid micro caps do this sometimes though - it only takes one or two holders who haven't really been following trading updates, to look at the results, and think they're bad, and to sell, to knock the price back temporarily. What is your views on the results from PMR? Regards, Paul." And here’s another investor who shares our views called Jimbobjames (from stockopedia): "Thanks Paul, PMR is a bit of a frustration for me. I bought after decent results in September and it's been a hard slog ever since! Was hoping for a positive reaction yesterday but that didn't happen. The introduction of a divi after 8 years has to be good news and profits up 84% too. It just doesn't seem to get the markets interested despite it being so cheap. I'm kind of in 2 minds, but if I put my long-term value hat on it still seems an anomoly to be this cheap - I just wish management would release a few more meaningful RNS's to publicise the company's progress a bit more, maybe it's just under the radar for most investors."

I.e. How does the loan notes being converted translate / dictate the current sp? Where do you expect this to go once the loan notes have all been converted? How long will it take for the 300k or so take to go through?

the next GATE you say? Would you mind explaining your rationale for thinking that?

analysing Dart http://www.stockopedia.com/content/dart-looks-good-for-summer-travel-95113/ http://www.stockopedia.com/content/share-price-momentum-in-dtgl-dart-group-continues-95128/ The former strongly suggests DTG should do very well this summer / this year and thus I'm sticking it on the watchlist to see if I can get in after this sell-off period following the massive share price spike!