Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
It is still looking like trading is tough but perhaps improving a bit from what they were seeing at the time of SPEC's trading update in October.
'Ahead of the opening of the opti trade show in Munich today, industry association Spectaris announced that, based on its preliminary calculations, sales from German-based suppliers of ophthalmic optics and consumer optics reached a total of €4.87 million for 2022, up by 2.5 percent from 2021.'
'During the opti show, German opticians’ association ZVA delivered an update of its ERFA-Light statistics, which shows sales’ trends for a panel of about 300 mostly independent optical shops. For the month of November, the average store revenue declined by 4.4 percent year-on-year to €37,634. The decrease however represents an improvement from the 9.6 percent drop reported for October. '
There was a reasonable probability that they would have interment problems as they scale up but if you have a time horizon of a few year or more then these dips are a good opportunity to add at bargain prices.
I too managed to find a bit to add to my holdings, but after a tough time last year for small caps I will need even longer arms to find much more down the back of my sofa for the next 'bargain'!
The 'once in a generation' winter storm in the US will benefit Watr. After a previous icy blast their work load increased significantly due to the number of burst pipes and leaking swimming pools, it should be even 'better' this time as the freezing conditions extended to regions not usually affected. The floods in Australia will swing things there the other way though, as last year they ascribed a weaker Australia performance to the flooding. Still on balance the next couple of quarters should be very good.
Historically rsg has been much loved by short traders on the asx (over 10% at one point). it now has the lowest level of shorts since I have been following it (at around 1%) - hopefully a good sign.
With the increase share issue and the price nudging up it is back in the asx 500. With the past fall in mcap I am fairly sure it was also moved out of a gold indexes (VanEck?) hopefully an increased mcap will help reentry here as well.
I thought that not putting out a TU, as is typical pre-Christmas, would send us back under 2p but there has been a keen buyer (institutional ?) consistently purchasing .
Not complaining, but I hope it is for a longer term hold rather than a quick turnaround which would apply a brake to any significant rise on any good news.
Vel's entire share issue is 36M so unless BRH owned 100% then your calculation does not stack up.
(Vel- from October 2022 -share issuance - On Admission, the Company will have a total of 36,458,997 Ordinary Shares in issue)
That is very upbeat for you Horse!
I topped up yesterday - first I have ever picked up for under 2p . Hoping that this will go up the way vel has today which would make for an even better Christmas present for me.
This time last year I did not expect to be thinking now that if it can just get to 3p we will have had a 50% rise! I have kept topping up (or should that be averaging down?) so it does mean I now have a lot more than I did at that time.
The potential is there especially for further expansion into zoos, even when things are tight people still spend on the children.
Cenkos -
' Our forecasts, and valuation:
We are raising our forecasts for FY22E in line with the
trading update. For FY23E we are now including a significant contribution from the
US contract, and we raise our revenue forecast from £14.7m to £20.1m, with a skew
towards H2 due to the phasing of the rollout in the USA. We are raising EBITDA for
FY23E from £0.0m to £0.1m, also with H2 bias. We introduce new forecasts for
FY24E, which reflect a full year’s contribution from the new US facility. On p2 which
present our valuation approach for Velocity Composites, which gives a fair value
range of 55p to 101p.
We maintain a BUY rating. '
Although rather dwarfed by the contract news, the trading update shows that the company have done a good job in maintaining a tight control on costs during what has been a really difficult time for the company.
It is going to be interesting to see where the price settles over the next few weeks.
This deal has been moving forward in the background for a while and explains the steep rebound in the share price during October/November from those clearly 'in the know'.
Given how little volume is required to move the share price there could be a good increase on this news.
They would not have lost 3.5M on swaps (cancelation fee in todays rns)
'In light of the change in the interest rate environment since completion, the Company has taken the decision to break the swap at a cost of £3.56m and replace it with an interest rate cap at a rate of 3.96%,'
They can try and put a positive spin on it, but they have essentially just 'lost'£3.5M since October because they did not refinance their debt earlier this year and refinanced at the height of the 'Truss's downturn'. This is around a third of their retained reserves at the end of the last financial year . It looks like they may also need to dip into them slightly to maintain the current divi for two years but with inflation at 10% it really needed to increase.
They are not alone, it is going to tough for REITs in a high interest, high inflation, recessionary environment.