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AmCo and Seymour Civil have today both won several significant places within a maximum £90m Civil Engineering and Infrastructure Works framework (scroll down to the Award Details):

Https://bidstats.uk/tenders/2021/W16/749273280

There's an excellent write-up by the Private Punter (hastings) on SBI just published- here's a direct link:

Https://martinflitton1.wixsite.com/privatepunter/post/sourcebio-international-when-cheap-may-not-prove-expensive-21-04-21

Posters here will know of the relevance to EKF - here's a particularly specific reference with comments from SBI's Chairman (for clarity I also hold SBI, which imo is very good value as per the article):

"Although PCR testing remains the gold standard The Chairman says “the UK Government has increasingly been using the lateral flow tests, which really aren’t that good, but there are now new tests coming through that give a high 90% sensitivity rate.

We have a relationship with one of these companies and we are going to be working with them to release that across the UK”.

There is also a mention of EKF (covered here on the blog) with which SBI appears to have a close relationship and LeCoque points out that the former now has an antigen test. “Nobody seems to care about antibody testing right now, but we think that might well shift once the vaccine roll out goes forward, so we are ready to go with it. Although we haven’t launched that yet, we believe there will be demand, so we will be ready to do that as well”."

Excellent write-up on SBI published today by the Private Punter - here's a direct link (I'll also copy this to the EKF thread since it's also relevant there - I hold EKF too):

Https://martinflitton1.wixsite.com/privatepunter/post/sourcebio-international-when-cheap-may-not-prove-expensive-21-04-21

So 60.4p EPS is forecast this year - with a £51m cash pile, i.e almost 40% of the current m/cap!

That reduces to 15.4p EPS next year, but with the cash pile rising to £72.8m.

I agree with the writer and the Chariman that COVID testing is here to stay for some considerable time. With this, plus the likelihood of sizeable earnings-enhancing acquisitions, plus bounce back growth from the core business, SBI's value at these levels looks even more stark.

with keen buying this morning from someone. 40,000 shares bought in small tranches (the only way possible with TST) and the buy price has now moved up to 83.9p. Nice small 5p spread too.

Results are tomorrow - and there's a very useful new video here regarding Touchstar Fuel:

https://www.youtube.com/watch?v=E7_LGxbBZzI

Today's AGM statement is somewhat optimistic and augurs well, though hardly enough to send the shares spiralling upwards :o))

The main business of provision of contract staff to the infrastructure and railway transportation sectors and internationally is doing pretty well, whilst recruitment and smart-meter installation has now picked up. The hotel and conference centre will also start to recover now lockdown is easing. There's no guidance for this year yet.

Last year RTC made 4.7p EPS, whilst pre-pandemic forecasts for 2021 were 11.9p EPS. If RTC can show decent progress from last year's 4.7p EPS - especially with decent net cash against the £4.2m m/cap - then there should be reasonable upside at some point. It's just a question of patience until then:

Https://www.investegate.co.uk/rtc-group-plc--rtc-/rns/agm-trading-update/202104210700020892W/

Schwee, RTC had a very healthy £1.9m net cash as at 31st December last. This was before paying a hefty deferred quarter's VAT, but still shows that RTC are in decent financial health as regards its cash - they generated £5.1m cash from operating activities last year.

The Government has today announced the UK will speed up targets to cut carbon emissions to 2035 from 2050.

Which will mean lots of opportunities for INSE:

Https://www.bbc.co.uk/news/uk-politics-56807520

...further to the news in the prior post, the Government has today announced the UK will speed up targets to cut carbon emissions to 2035 from 2050.

Which will mean lots more low-carbon heating, better insulation for homes etc. Which is ideal for SUR.

Buying coming in at 442p now, and more new highs....

Great spot, cheers.....here's the link. 100p would be nice....

Https://www.investorschronicle.co.uk/ideas/2021/04/19/profit-from-big-data-analytics/

"Profit from big data analytics

Simon Thompson highlights a small-cap software company that is using artificial intelligence to create a valuable recurring income stream
April 19, 2021

Annual recurring revenue increases 35 per cent year on year.
Cash collection rates improve.
Move into mobile advertising space.

Aim-traded Pelatro (PTRO:40p), a company that makes its money by providing 19 large telecoms operators with precision marketing software, has been making huge strides in transitioning from a lumpy licence fee model to one based on annual recurring revenue (ARR).

Pelatro uses 'big data' analytics (artificial intelligence, machine learning and other analytical techniques) to reveal patterns, trends, associations and behavioural traits of telecom subscribers. In turn, this insight enables telecom operators to monetise their data, boost average revenue per user and increase their share of subscriber spend. Adopting a more customer-centric approach to marketing also reduces churn rates.

etc"

Excellent contract win news - £585k over the next year more than doubles the amount of business previously derived from this "prestigious Facility Management customer operating in the national highways sector".

Https://uk.advfn.com/stock-market/london/react-REAT/share-news/React-Group-PLC-Contract-Win/84863034

"Shaun Doak, Chief Executive Officer, commented :

"I am delighted this important customer has once again recognised REACT as the best solution provider for its specialist cleaning and pre-planned maintenance work requirements.

This new agreement is testament to the excellent work performed by our specialist operatives and in particular, the way our Operations Manager has been able to guide and support the programme of works over the last year, ensuring our customer remained compliant during the COVID-19 pandemic.

With this latest contract win, we highlight REACT's ability to secure long-term specialist contracts, helping to consolidate our customers' spend in these areas with one high-performing, efficient and cost effective provider.

REACT will continue to provide customers with class leading guidance, specialist cleaning standards and pre-planned maintenance, specifically tailored to the needs of the customer."

Good news - they're now up to 6.831m shares, or 5.48%:

Https://www.investegate.co.uk/wincanton-plc--win-/prn/holding-s--in-company/20210419150435P0944/

Good to see REAT are presenting online at Mello next Monday 26th April - they get quite sizeable audienes now:

Https://melloevents.com/mm-26th-april-2021/

Warmworks is a JV between Energy Saving Trust, Changeworks and SUR's Everwarm.

Today Warmworks is one four winners on a £78m 4.5 year project to act as Managing Agent "across 17 consortia/ areas made up of 141 local authorities across the South East of England; to deliver a large scale, low carbon project to deliver energy retrofit and low carbon/renewable technologies across all tenures of housing stock":

Https://bidstats.uk/tenders/2021/W16/749142314

A nice ESG angle in addition to the financials.

Very positive stuff. I really like the way this management team have shaken up the business and have a clear strategy.

Good to see them emphasise the figures for the combined business going forward per the new Allenby note of £10m forecast revenues and £1.15m EBITDA on an annualised run-rate, though as I suggested in post 1658 above I suspect the EBITDA figure is somewhat conservative (and rightly so).

Highlights from the presentation:

- 80% of revenues are recurring, comprise half contract maintenance work and half reactive, with the other 20% being project work
- the overhead base is largely fixed so increased scale bringsincreased margins and bottom line
- Fidelis are "one of the best operators in contract maintenance". Theirs is recurring revenue from 3-5 year contracts, 40% from education
- Fidelis invoice in advance, so they have very positive debtor profiles and cash flows
- Fidelis are complementary in their activities and customers, so there's no overlap and lots of opportunity for cross-selling
- more acquisitions are possible from existing cash or utilising loan or invoice discounting facilities. And of course now that the share price is more respectable I would be happy to see more equity issued as part-cosideration.

after a 14k buy at 71.2p.

With all that net cash (£3.9m against a £10.7m m/cap) I'm hoping for a highly earnings-enhancing acquisition to further enhance the positive trading.

A poster elsewhere has noted "that the spread has narrowed significantly and you can sell in size above 70p if you wanted. Suggests we may have shifted from a large seller to a large buyer in the market (or at least a large seller and a large buyer!)"

Another $0.5m of contract wins. With such high revenue visibility at $6.5m already this year, it's looking good for a beating of expectations against the current forecast of $7.2m:

Https://uk.advfn.com/stock-market/london/pelatro-PTRO/share-news/Pelatro-PLC-Contract-Wins/84851543

Apologies if this is posted twice - the original seems to have gone missing!

The legendary Gervais Williams at Miton believes KAPE are still cheap:

Https://www.***************************/premier-miton-investors-qa-smaller-cap-microcaps-dont-just-survive,-they-can-thrive-lonpmi/412976823

"Sometimes you can get companies which just progress their profits by significant amounts every year and a good example of that might be Kape Technologies and its share price has risen from under 50p five years ago and it’s around £2.90 now. So, even after that move, it’s not really standing on a very demanding valuation, it’s just because its underlying profits and its acquisitions have generated so much additional return."

A reminder!

Https://www.investormeetcompany.com/react-group-plc/register-investor

New contract award announced yesterday for SBI as part of National Microbiology Framework - Lot 4: Clinical Laboratory Diagnostic Testing Services (share of £15 billion over the next 4 years).......

hTTps://bidstats.uk/tenders/2021/W15/749076498