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Nice timing on your buy on Friday
Well done!
Rich
Fabulous - its about time IHC got some decent media coverage.
I can't see any of the Daily Mail's loyal readership buying these at 66p though
The MMs will lift the open price massively on Monday morning - they love swinging the price around on here
Rich
Hahahahaha less than £30k shares traded in 3 hours (buys and sells) and MMs drop the share price by over 7%
AIM joke time.
BUYING OPPORTUNITY for those who can see beyond the short term madness
Rich
Well what a difference a few days make - lots of big buys at near 70p over last couple of days, then someone (II presumably?) sells at 69.5p to match buys.
Buyers dry up today, so market makers drop bid hard to 64p and some (presumably PIs) sh*t their pants and let the MMs steal their valuable shares off them at below the placing price of 65p.
The madness of markets!!
Can't get a price to buy - market makers broadsided by Reuters news have no shares to sell. IMO
Britain moves closer to COVID19 vaccine trial that infects volunteers - British biotech firm signed a contract with the government to create and provide strains of the virus. Preliminary work for the trials ….is being carried out by hVivo, a unit of pharmaceutical services company Open Orphan, hVivo said on Friday etc
200,000 shares just bought / sold at 68p after close at 1640 (not UT). I hope that the big seller is out now - Premier Miton top slicing??????
As a result, analyst Jamie Donald at Liberum Capital had predicted a pre-tax loss of £3.5m on revenue of £11m in the six months to 30 September 2020. In the event, Ramsdens has reported a pre-tax profit of £500,000. Having previously changed its financial year end to 30 September 2020, this means that Ramsdens will now report a pre-tax profit of £9m and earnings per share (EPS) of 22.8p for the 18-month period, or 80 per cent higher than analysts had previously forecast. The key drivers for the outperformance are a recovery in retail jewellery sales, and the strength of the gold price on precious metal buying and selling activities, a segment accounting for a fifth of gross profit.
It’s worth noting, too, that Ramsdens’ clients have been repaying their loans, so much so that the company now has net cash of £16m (53p a share). It also has a £10m undrawn revolving credit facility. True, foreign currency commission is 30 per cent of levels a year ago, but there is a silver lining as Ramsdens is taking market share from distressed high street foreign currency exchange operators and earning higher spreads, too.
Ramsden’s strong balance sheet means that it’s well placed to acquire loan books from distressed rivals. Indeed, it purchased two small books (£250,000) at the period end. Also, with the gold price riding a wave, expect an uptick in the pawnbroking business (accounting for a quarter of gross profit) as loan books rebuild by providing short-term relief to cash-strapped, but asset-rich customers pledging their gold and jewellery.
Liberum are forecasting pre-tax profit of £3.9m and EPS of 9.8p for the 12 months to 30 September 2021, but these estimates look very conservative. However, even on this basis, the shares are only rated on a cash-adjusted forward price/earnings (PE) ratio of 7 and offer a prospective dividend yield of 4 per cent based on a 2021 pay-out of 4.9p a share. A price-to-book value of 1.1 times is attractive, too.
So, although the Covid-19 disruption to business this year has sent the share price well below the 165p entry point in my market-beating 2019 Bargain Share portfolio, I fully expect to recoup the paper losses in due course. Bargain basement buy.
Middlesbrough-based Ramsdens (RFX: 127p), a diversified financial services group whose main activities encompass foreign-currency exchange, retail jewellery, pawnbroking and a precious metals buying and selling service, has issued a pre-close trading update that has beaten analysts forecast by a country mile.
In the 12 months to 31 March 2020, Ramsdens reported a 30 per cent increase in pre-tax profits to a record £8.5m on revenue of £59.5m, a result that drove up earnings per share (EPS) from 16.7p to 21.4p (‘Shopping for a bargain buy’, 28 May 2019). The UK lockdown came into force in the last week of March, so had little impact on that trading period. Ramsdens then closed all its 159 stores on 24 March, and furloughed 700 staff until 28 May. It wasn’t until mid-July before they were all open again for business following a phased re-opening.
As a result, analyst Jamie Donald at Liberum Capital had predicted a pre-tax loss of £3.5m on revenue of £11m in the six months to 30 September 2020. In the event, Ramsdens has reported a pre-tax profit of £500,000. Having previously changed its financial year end to 30 September 2020, this means that Ramsdens will now report a pre-tax profit of £9m and earnings per share (EPS) of 22.8p for the 18-month period, or 80 per cent higher than analysts had previously forecast. The key drivers for the outperformance are a recovery in retail jewellery sales, and the strength of the gold price on precious metal buying and selling activities, a segment accounting for a fifth of gross profit.
It’s worth noting, too, that Ramsdens’ clients have been repaying their loans, so much so that the company now has net cash of £16m (53p a share). It also has a £10m undrawn revolving credit facility. True, foreign currency commission is 30 per cent of levels a year ago, but there is a silver lining as Ramsdens is taking market share from distressed high street foreign currency exchange operators and earning higher spreads, too.
Ramsden’s strong balance sheet means that it’s well placed to acquire loan books from distressed rivals. Indeed, it purchased two small books (£250,000) at the period end. Also, with the gold price riding a wave, expect an uptick in the pawnbroking business (accounting for a quarter of gross profit) as loan books rebuild by providing short-term relief to cash-strapped, but asset-rich customers pledging their gold and jewellery.
Liberum are forecasting pre-tax profit of £3.9m and EPS of 9.8p for the 12 months to 30 September 2021, but these estimates look very conservative. However, even on this basis, the shares are only rated on a cash-adjusted forward price/earnings (PE) ratio of 7 and offer a prospective dividend yield of 4 per cent based on a 2021 pay-out of 4.9p a share. A price-to-book value of 1.1 times is attractive, too.
So, although the Covid-19 disruption to business this year has sent the share price well below the 165p entry point in my market-beating 2019 Bargain Share port
I might be wrong, but it looks that there is a II seller at 69.5p - buyers paying just below 70p are matched by late declared sellers over last couple of days. Be nice when these are cleared up.
Regardless as you say, there's some chunky buys
Rich
Positive update IMO
Profit before tax for 18 month period is £9m. Results to end March 2020 showed £8m pre tax profit, so assume £1m profit for last 6 months whilst shops were shut for 4 months and also FX revenue only at 30% of normal.
Also cash in bank at £16M compared to March when RNS flagged up that Ramsdens had £10m in bank. Customers paying back loans during lockdown is good news.
Overall, looks like the BOD have managed situation pretty well
Expecting share price to pick up this morning on the news
Good luck all holders
Rich
ATs bouncing the price around, presumably to pick up more shares cheaply. Trying to drive back to 90p.
Not having my shares - will hold for 120p+
Expecting bid for Hovis plus half year results due 10th November - expect to be good if in line with Tesco UK growth.
A HOLD in my view or strong buy if you are considering entering
Rich
The 62p trades were "buys" in my opinion. Right down the middle between bid and ask - this smacks of institute buying at a fixed price.
Today there seemed to be quite a lot of 10,000 share blocks sold - this is likely to be a Fund, selling into the price rise.
I can't see any fund selling though below 65p which was the fundraiser price to buy LSE Ltd.
Hoping that the 10% traders will be out now for a while and fresh money will buy into IHC on today's news - particularly if we get some broker upgrades or coverage in financial press.
I can't believe that people are having their pants pulled down and taking 65p for these shares after this mornings update - crazy!
IHC is a profitable, growing company selling medical equipment during pandemic crisis!
Share price bounced up a bit when they got NHS contract to sell ventillators (£5m one off contract this year), but in essence this is an investment, not a trading share.
If you look at the trade update RNS from 11/8/20 for the HY, revenue up 30%.
So far this increase hasn't been factored into the share price...……
Since HY, IHC have bought out SLE Ltd, a specialist ventillator seller - again profitable and no debt. To do this IHC raised money by fundraiser at 65p.
IHC sells items for critical care, operating theatre supplies and home healthcare. Also specialises in neo natal baby support - obviously this is non discretionary spending.
Has valuable patent in US and developing equipment, with 1/2 costs funded by EU
I'm a sizeable holder here and am looking for 100p plus by early next year when FY to end Jan 2021 results are released.
Buy at 62.5p today, hold 6 months for 92% gain potential
Good luck in whatever you choose to invest in!
Rich
Check out the trade update for HY on 11/8/20 = revenue up 30% v LY - share price not moved despite this = OPPORTUNITY
Since then raised funds at 65p to purchase SLE Ltd, seller of ventillators etc.
£7m sales of ventillators (of which £5m from IHC as a one off additional revenue this year)
IHC have valuable support contract with NHS on ventillator use
Both companies profitable and debt free
Valuable project Wave patent owned in USA and trials ongoing in UK with half cost being funded by EU
Selling medical equipment during a pandemic
Most IHC equipment is for neo natal babies - non discretionary spending.
You can buy at 62.5p today
Good luck Rich
MMs walking the share price down on no news. People literally giving shares away now at 113p. Daft
Okay travel abroad this year may has been hammered by CV19 so FX will suffer, but high gold price and pawnbroker services are going to bring in serious revenue.
Just a waiting game till trading update is out - some obviously don't have any patience.
Bought more at 61.5p = bargain!
MMs moving bid /ask around so all buys look like sells - why would they want to do that? LOL
Good luck all holders ready for next Tuesdays H1 results (which we already know were 30% higher than H1 last year due to the trading update..
Can't believe someone has sold 10,000 shares at 57.75p. The bid is showing 62p. Surely if you wanted to sell, you would sell in small blocks and get the higher price.
Some people must have money to burn!
Still don't understand why they are selling, unless need funds elsewhere
H1 results due 6th October so not far off and we know they will be good.
Held since April at 7.78p average price paid - the 20p target was what I set myself when I bought in and watched the CF videos on u tube and saw the extent of ORPHs riches and opportunities.
With phase 2 CV19 now kicking off, will hold beyond 20p, but have no idea how much these could eventually make.