Member Info for Libero

whoa I hadn't seen that!

is when they released the FY results last year ...and we're not far off that now so I intend to buy in soon because I've long been quite a fan of this share :)

Glad to see that you’ve mentioned SYQ here because I personally love the company, as you know. I agree that the cash flow / huge trade receivable from one client is an issue but in my honest opinion the pros outweigh the cons there so I’d still tip the company and glad you (sort of) are too! re: TRCS – do you still think it could a buy at the current valuation? O/T – Jolly, have you ever checked out DRS? I think it could be a superb contrarian buy considering how cash-backed it is etc etc (see riddlers technical / financial analysis GC topics for why I’m sort of a fan).

Jolly, I actually disagree with you here. Based on the current price, the MC in USD is $188m. The financial position is superb with cash > liabilities. Factoring that in gives you an EV of $179.4m. With a PBT of $23.3, the EV/EBIT ratio stands at just 7.7 which shows it’s cheap and, in the current market, that’s hard to beat no?

I really like the look of this company for a variety of reasons having first analysed it at 27p. Now having seen today's news and the consequent massive fall in share price, I'm really glad I didn't buy in already. Although, with the bad news mostly priced in from the looks of things (a third of the year with significantly lower revenues resulting in a 35% fall), it perhaps deserves another look... ...especially after all the director buys lately... Thoughts anyone?

As I said previously I don't know much about CF / FCF but 1) if that Telco continues to pay up and 2) the 2014 HY results show revenue has increased by even 400% then surely we can expect CF to look far far better? It's also worth bearing in mind that the OTT profit margins are far better than the margins achieved through the Telcos, and therefore the profit margin for 2014 should be far better than 2013. In other words 2014 should show MUCH higher revenue, MUCH higher profit, and MUCH better margins. therefore much better CF ????

What irritates me is that I'm such a useless seller. I've literally kissed goodbye to huge profits in the past because I've been like "125p? I'm not selling at that when fair value is 144p" etc etc So I feel like my selling strategy really needs to improve - I've learnt how AIM works the hard way I guess. But, apart from that, I feel like I've got so much more to learn concerning fundamentals and I haven't even got on to reading charts etc. Obviously I try to pick up as much as I can from knowledgable posters like yourself, riddler, el1te, etc but I now feel like I need to buy a book or two and just study those properly before investing again. When I was at university I decided I wanted to be a journalist. 2 weeks later I decided I wanted to launch my own newspaper. 1 week after that idea popped into my head a newspaper was launched with the help of some like-minded friends, it had some success, but never went any further. Ultimately it was a failure. It was only after I accepted that it was going nowhere that I realised I was too quick to jump into running my own newspaper. I realised I needed to study journalism properly before trying again. So that's exactly what I did. I privately taught myself a lot about journalism in my spare time and then tried again to set up a newspaper. This time I did things differently but, ultimately, I was so much more prepared as a journalist to make it a success. On the first day we had almost 5,000 hits. Our first fortnight we had 50,000 hits. And we went from there. It was a stonking success. ...but it took a lot of preparation beforehand so that I could launch the newspaper and run it successfully. And tbh I should take that experience and use it here with investing. I need to put the ground work in.

OK maybe that was over the top (wheyyy - SYQ-related reference that) but you're certainly very knowledgeable. Btw thank you for advising me not to top up prior to the news. I may not have done so anyway but cheers nonetheless :-)

Mhmm you make a very good point. God I'm regretting not selling when we were 120-130p now - I'm such an awful AIM investor, and far too stubborn!

bambos - I remember when it was essentially just me and you on this bb. You were the one who was far more bullish than me, and I remember calling you over-optimistic at times. Yet now you've become very bearish all of a sudden and I disagree with you. This is oversold in my honest opinion because this company genuinely has so much going for it and, whilst I know the 2013 results aren't great, we were expecting that. I know I was at the very least. If you didn't then no wonder you're very disappointed.

Toilet Management hahaa! I have to say I don't know what he's on about either. Jolly is very baffling but, if you can sift through the baffle, he's actually a genius.

CF = Cash Flow FCF = Free Cash Flow I know what the acronyms mean but I don't understand cash flow all that well in all honesty so jolly's right - I need to look into it more so because it's a great tool in the tool kit because it can't be manipulated in a way profit before tax etc can and sometimes are (not referring to SYQ here btw).

Jolly, well if the trade receivable figure of £2.4m has been reduced to £1.8m they've clearly been paid £600k since then .i.e. they are getting paid and I think that trade receivable is manageable. However I get your point. £1,078,000 isn't a huge sum if ANOTHER Telco were to be slow when it comes to paying. So it is a bit of a concern... By the way I wanted to ask you what this line means: "The slightly lower 2013 net profit can also be attributed to the Group's treatment of development costs that were fully expensed during the year as opposed to being capitalised and then amortised as has occurred in previous years in accordance with IFRS." ...because I didn't understand it and I need to understand it before I can invest more here really.

Yeah I was the editor of an online tabloid I set up at university. I was 19 going on 20 at the time. (and, for the record, I'm now 22 going on 23 in August)

Jolly - the "excuse" was that the Christmas period resulted in exceptionally high revenues during the period and that's believeable because people do watch more TV over the time of year. I think you're being jolly harsh to them in that respect.

Despite the Indonesian issue in 2013 H1 SyQic's revenue still grew 20% - that is remarkably good! I have to say I was a bit disappointed by the profit before tax for the period (jolly - I shall ask you about this in a post later) ... I knew 2013 would be a bad year due to revenue & profit relying almost exclusively on the second half of the FY, and so I've always said that the 2014 H1 results will be Amazing! ...and judging by the following line here, I feel like I will be vindicated... "The Group's momentum from 2013 has been continued into 2014 and revenue for the first three months of 2014 was £2.0 million (unaudited) representing an improvement of over 600% on the same period in 2013." All in all the 2013 FY results were largely as expected, and it's not a fair representation of how valuable this company is. I still consider SYQ to be a Strong Buy, certainly at these levels!

StoneBroke - haha I know what you mean. I feel that way, although it doesn't overwhelm me at all because I was expecting this month to be rubbish and expect the next 3 months to be lousy too before a good rally in the latter part of the year. For that reason I'm very pleased that SYQ's 2014 HY will result in November because, as discussed, they will be amazing and in November sentiment / market conditions will be near their very best (December being the best month) Adrift - I genuinely believe shareprophets' TW deserves praise for what he does, although I get what you're saying. You have to bear in mind that I'm quite biased into praising / defending him because I've been in his shoes as an editor of a tabloid that never shied away from controversy. I sympathise with him in a way most people wouldn't because of that link we have.

http://www.stockopedia.com/content/five-recruitment-stocks-that-continue-to-trounce-the-market-82997/

Jolly, I saw you tipped this as a strong buy so decided to look at the fundamentals. On face value, despite the cash balance, they looked poor and they look as if they’re worsening so I very baffled. So baffled that I felt the urge to dig deeper and, provided I’ve understood what’s being disposed of currently, I reckon the fundamentals now look like this: MC = £7.3m Cash = £4.8 (after disposal) Liabilities = £5.17 EV = £7.67 (I used the HY results x 2 for the following figures) Revenue = £6m EBIT = 700k The remaining part of the business (Utiligroup) is growing very fast though considering that revenue increased by 63% (compared to H1 2012) so I reckon the revenue and EBIT figures above are rather conservative. I reckon an EBIT of 900k is achievable. Providing that my previous EV calculation is correct, the EV/EBIT ratio would then drop to 8.5 and that’s superb for a growing business! Btw the fact it has loads of cash and has made £1m worth of savings going forward really mitigates the risk factor of things not going well here. Jolly – I’m feeling pretty tired though so please can you correct me where I’ve wrong? But I have cracked why you like this share now?

lol who?