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IC said that PBT is expected to grow 14%, the forward PE is 10, and the forward yield is 6.3% based on 196p buy price. ShoeZone sells 3 x as many shoes as Tesco, 2 x as many as Asda, and has a 3.1% share of the footwear market. It says it's a super cash-generative, profit (as opposed to sales) -focused business, with a great balance sheet, which was brought to the market for the right reasons. It also says that about a fifth of its leases come up for renewal every year and they'll be renegotiating them downwards as time goes on which should further bolster profit margins. This all sounds very v positive

I know that both IC and shares mag have tipped SHOE this week. If Small Company Sharewatch has also then no wonder the share price has risen sharply recently.

Yeah I was about to say it's always been 18th September, not the 8th lol

It's the final paragraph that is why I posted it here - because SYQ's business model has moved from the "Telco-model" to the "OTT-model" and, as I've said before, I feel like that will be transformation. Especially for SYQ where it has cash flow problems thanks to one Telco in particular (PTNP). Anyway read on: Digital Video And OTT Poised For Dramatic Growth If you had any doubt about just how much internet delivered video was changing the entertainment economy – the latest data from Pricewaterhouse Coopers (PwC) consulting will open your eyes wide. In the next seven years, the Entertainment and Media Outlook report that predicts that television’s dominance of advertising is poised to give way to the Internet. The report projects that TV advertising is poised to generate $173.7 billion worldwide in 2014 growing to $214.7 billion by 2018. Internet advertising in the same period will climb from $133 billion up to $194.5 billion. The Report has some dramatic conclusions and predictions: By 2018, 33% of total advertising revenue is forecast to be digital, compared to 17% of consumer revenue.Mobile Internet is driving the change, with penetration reaching 55% in 2018, driving digital advertising to increase its share of total advertising revenue to 33% by 2018.In 2013, US advertisers generated $7.08 billion in mobile Internet ad revenue, up 110.2% from 2012.By 2016, mobile will overtake display to become the number two Internet advertising channel in the US. The Over The Top (OTT) Space is poised for massive growth as well. PwC predicts that over-the-top TV streaming will grow to be a $10.1 billion segment in 2018, up from just a relatively meager $3.3 billion last year. Report

Shares in geoscience business specialising in the provision of data, studies and services to the oil, gas and mining exploration sectors, Getech (GTC) currently trade more than 13% higher today, at 64.5p, on the back of an announcement of “its largest ever single new contract, worth $5 million”. I update in the following having last month concluded, at 53p, that the shares looked to have some speculative appeal. The contract has been awarded by the Angolan National Oil Company, Sonangol “to generate structural and related interpretations for the geological basins of Angola”. It is added that “the work is due to start immediately and the company anticipates that most of the income will be recognised in the current financial year. This is an excellent start to the year and gives confidence that the company will meet the current year market forecasts”.This cautious view only of meeting forecasts reflects the susceptibility of results here to contract timings and, as broker to the company, WH Ireland, notes, that “the contract will require substantial resource from within GTC which is of course finite and this will curtail its ability in the short term to take on new work”.However, the broker sees scope for upgrades as the company’s current year (to 31st July 2015) progresses and notes that today’s announcement “to a very large extent” effectively de-risks the current year outcome. It thus now suggests a fair valuation of 14x its earnings per share forecast of 5p – taking its target price to 70p. I consider some rating discount necessary for the typically low visibility the company has but the current trading momentum compared to the valuation suggests the shares continue to have some speculative appeal. I’ll review the upcoming results statement here with interest. Still on balance the shares are worth a flutter. - See more at: http://www.shareprophets.advfn.com/views/7644/getech-group-largest-ever-single-contract-win-shares-still-a-speculative-buy#sthash.9SApAtjZ.dpuf

DD, Don’t be silly. El1te and Paul Scott both tipped this around 160p and, if you’re feeling lazy, just look at the chart in the article below showing how many of PMR’s peers have re-rated hugely and yet somehow PMR is lagging behind. Hence the huge opportunity here. This is still a strong buy. http://www.stockopedia.com/content/small-cap-value-report-10-jul-2014-lvd-shft-pmr-bmy-84679/ Very best regards, Dan

At 263p / £70.2m Based on 2013 figures: PE = 9.3, EV/EBIT = 13, and TNW = £16.2m (23% of market valuation) H1 2014: Revenue was flat but Operating Profit rose hugely year on year, as did the PBT. H1 PBT was £5.38m (up from a loss of £1.25m) Therefore FY 2014 may well be H1 PBT times two = £10.76m But, presuming H2 2014 is flat year on year, we can do this sum and H2 2013 + H1 2014 PBT is equal to £14.24m Lets call the first guestimate a) and the second b). This gives us a) 2014 EV/EBIT = 9.4, and b) 2014 EV/EBIT = 7.1 The former is good but the latter is mouth-wateringly cheap! Based on 2014 guestimates: forward PE is 7.3 (Paul Scott said as such) and I’ll take him at his word, forward EV/EBIT is 7.1 to 9.4, and TNW is a third of the market cap (which isn’t great but isn’t too awful either). There’s additionally a 2% yield on top. Now, trying to take account of the recent acquisition, lets add £15m to the EV and they said it’ll be earnings enhancing so lets say £1m to the profit (that’s conservatively picked between the two figures they gave us - £0.1m profit in 2013, and £5m in 2010). The EV/EBIT ratio then become as follows: a) 9.8 or b) 7.6, which is still bloody good. So, in conclusion, I think that – whilst I reckon PIL may have overspent on their acquisition – I still consider this company to be very cheap in a variety of ways.

Hi Mate, That’s ironic! Ah okay that makes sense, and it is consistent with what KaChing explained to me about the business model previously (scroll back about 10 pages lol). So, using your example, a $2m contract is announced over 4 years. $500k is earned every year + $1.5m lump sum. Therefore that would work out as $2m in the first year, $500k in the three years following, therefore the total value of that contract is $3.5m over a 4 year period really. i.e. 75% higher than what they say it is. If this is the case then why are they not reporting it to be as it is? Is it because they’re being conservative, or are they not so confident of the additional revenue? The repeat income element of the business model is what I was referring to when I said KaChing’s explanation of the business model got me excited about MIRA in the first place. I’m certainly interested to know more and, once I do, perhaps I’ll end up investing more than the piddly sum I invested yesterday! Thanks for the explanation and thanks once again for the feedback. Best regards, Dan

yet they supposedly have loads of cash. What a joke. Avoid chinese companies on AIM. End of.

As did I, thankfully. And, as you can see from my last 2 posts on this bb, this is an avoid for me also ...unless I can be proven otherwise (by the biz model & mgmt)

The comments to this article are v interesting. http://www.stockopedia.com/content/small-cap-value-report-11-sep-2014-sal-demg-npt-sea-86087/?page=1#comments This comment was v interesting: "Firstly, Paul mentioned a while back that their biggest competitor had gone bust. Now that ought to have improved the trading position for Space and People but it hasn't. Could it be that the market is contracting? Also, how on earth do you go bankrupt in this business. You have people and an office as you are simply the middle man between the shopping centre owner and those who might want to rent space on a short or long term basis. I suppose they may have had a bad debt or is it that this business is a lot harder to make money in than it might seem? Secondly, one of their RNS's mentioned a drop in trade as a shopping centre owner now wanted to reduce clutter. It made me think that if one does perhaps others do too. Maybe during the dark days of the recession shopping centre owners looked at anything which would help footfall and retain people in their sites. Now that things are improving they are looking to get rid of the clutter. Is this perhaps a counter recessionary business?" Basically many of Paul Scott's loyal following questioned the business model / whether it's a business model that only works in recessions. So, basically, I'm in agreement with you Jolly - the business model & management need to prove themselves before this becomes investable

MY21, Thank you v much for providing that feedback. For clarity, do you mean that 75% of the contract value is standalone and through the duration of the contract period in full (even if that's 5 years) and 25% of it is what mira will make each and every year? Apologies if that's a stupid question - I'm still waking up lol Regardless it's 1) good he realises that the RNSs could be clearer and 2) it's superb that there was hints further contract news is now imminent. This is all very exciting. Very best regards, Dan

1) good choice 2) chelmo = chelmsford?

good to see you again, zatcha. Hope you're well. Just wanted to say that, apart from thinking buying into MIRA is a good choice, I think AEO is a superb buy also. Good luck buddy :)

Yeah it certainly was. How disappointing. GTC and SAL were in a similar position but now it's clear the former is bouncing back, whilst SAL deserves the share price slump it's going through in all honesty. Are you in GTC out of interest?

Totally O/T Jolly, I just thought I'd let you know that, since we spoke in early July (immediately after the MD did me over), I've worked my arse off to chnage perceptions etc and it's worked. I've been given more responsibility, more jobs (arguably too much), and I'm enjoying my role more. That's the good news. The not-so-good news is that I've been working so damn hard that I'm finding it hard to find the time to revise for my upcoming exam (13 October), or to apply for jobs to move elsewhere. All in all though things are great. The bottom line is I felt under threat before and now I don't. And you're right - it was a good lesson to learn very early in my career (less than 2 years in)! Thanks your concern and I hope you're doing grand too :) Many thanks, Dan

Historic PE of 13.4 is fairly average and historic EV/EBIT is 35 which is clearly above average. But there’s enough going for VTU to make it attractive despite the above/ how it looks: They’ve expanding very very fast by acquiring dealerships on the cheap, investing in them to turn them around, and doing the same again. This is building a motor dealership empire but it also means it’s hitting their figures in the short term, that’s what it’s costing them. But, behind those figures, there’s hidden value. Y’see the above strategy means VTU has the lowest margin. In 2013 it was 0.96% whilst CAMB’s was 1.15%, CFYN’s was 1.6%, PDG’s was 2%, Lookers’ was 2.3% and Inchcape’s was 4.3%. VTU’s is far below the average of 2.05% but, over time, it should reach it. If it had already the value here would be very apparent. Must read link about VTU and how it is a superb long-term play http://www.stockopedia.com/content/plastics-capital-amp-vertu-pla-vtu-played-out-and-playing-out-84599/ The author of the above article wrote in May 2013, when VTU’s share price was 41p, that this company was the favourite in the sector because it was it was a clear value play with “underlying strength hidden by obfuscating factors like acquisitions, cheap relative to book value, and a conservative balance sheet. It’s risen 39% since then but here’s clearly still a fan … as is Paul Scott. I thought the TNW was £121m (~64% of the market cap) but he calculated it to be £158m (83.2% of the market cap), and that’s superb. Additionally recent trading statements have been bullish and there’s been director buying. I’ve said previously that, in the sector, VTU and CFYN (and maybe LOOK) have the most going for them so perhaps I need to compare them against each other again but VTU is certainly looking like a superb long term play.

Yes I am, when I repeat your wise words haha! (I'm learning) Yeah I reckon it'll hit 9p. Tbf it's already at its 52 week low so what is going to stop it falling further?

What ever happened to 'Don't fight the tape'? haha I have less cash to play with so I'm not going to take that speculative punt, certainly not on a company that had so much promise but delivered so little.

The latter. They were released on 9th September last year, and 10th September the year before so presumably they're on the way this week was the thinking. Are you in here?