Member Info for rivaldo

Should get a decent price rise today: https://www.investegate.co.uk/safecharge-int-grp--sch-/rns/trading-statement/201711290700027735X/ "Strong" trading in H2 and the results will be in line with expectations - better than the "broadly" in line implied at the interims. In particular: "We will continue to focus and invest further to build our sales teams to accelerate a successful entry into new target sectors and geographies" And: "Outlook The Board is encouraged by the Company's strong performance during the second half of the year. The Group will enter 2018 having expanded its Tier 1 customer base, with customers in new sectors, including travel and retail, and new markets, and with a strong pipeline which provides confidence for 2018 and beyond."

from Edison. They go for a 177p-187p valuation range, with 12.9p EPS this year rising to 15.2p EPS next year: Http://www.edisoninvestmentresearch.com/research/report/carclo467463/preview/ "Valuation: CTP recovery to drive share price upside We use a P/E-based, sum-of-the-parts methodology with three sets of sample peers drawn from the medical device manufacturing (P/E of 16.4x), automotive (mean P/E of 15.6x) and aerospace (mean P/E 19.0x) sectors to reflect the diversity of Carclo�s operations. This gives an indicative valuation range of 177-187p a share (previously 182-193p). Further newsflow confirming the recovery in CTP should be supportive of the stock, helping to close the valuation gap." In particular: "In the longer term, divisional growth is driven by capacity expansion, which is always linked to customer contracts, while creating space to secure new customers and product lines in future. For example, the project to double the capacity of the facility in Bangalore to meet expected demand from its major electronics customer for technical parts and assemblies is now complete. The second phase of expansion at Mitcham in the UK, which is required to support the manufacture of part of Becton Dickinson�s Vystra disposable pen, remains on schedule for completion later in FY18, ahead of volume production in calendar 2018. The facility in Taicang, China, which was completed during H216, continues to provide production capacity for the anchor global medical device customer as well as accommodating new work from existing and new customers."

Here's the summary page from the new Finncap note with the 586p target price FYI: "Essential services carefully selected BUY Renew provides essential repair and maintenance services for UK infrastructure. These are very large, long-term markets providing significant potential for growth, but the key to Renew�s model is being selective with a focus on profits rather than just sales. Hence, while underlying Engineering Services sales in FY 2017 were flat, underlying EBIT was up +12% and total EPS up 17%. With very high and rising ROCE, strong cash flow characteristics and the potential from large, defensive long-term markets, we reiterate our Buy recommendation. Essential services. Renew repairs and maintains the UK�s infrastructure. It has a strong position in the rail, nuclear energy and water markets, providing mechanical, electrical and civil engineering services. Large end markets. Renew provides its work through framework agreements that typically last for 3-5 years, but the requirement for the work will continue indefinitely. For instance, �3bn p.a. is being spent on nuclear decommissioning and Network Rail has �48bn of funding for 2019-24 (up from �41bn). Rising margins. Evidencing Renew's selective approach, operating margins rose to 4.6% in FY 2017 (2016: 4.2%) and are up from 3.5% three years ago. The risk to these margins is relatively low with the vast majority of work completed on a cost reimbursable or plus basis. Strong cash flow. Despite the acquisition of Giffen requiring a working capital injection in FY 2017 (as planned), operating profit conversion into cash has averaged 103% over the past three years. Highly differentiated. Renew employs staff directly, uses relatively little capital and completes relatively small, repeatable jobs in regulated industries where health & safety and technical competence are key. This is very different to the majority of contractors. Target price of 586p supported by free cash flow and ROCE. We maintain our target price of 586p, which now equates to a mkt. cap/FCF of 22.4x in calendar 2017. This is still a 9% discount to wider contracting peers who generally have a much poorer track record and very different risk profile."

Finncap have today increased their target price to 405p (from 339p) and say Buy: Http://investing.thisismoney.co.uk/broker-views/

Http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/ACL/13445477.html Changing the name tomorrow to reflect the transformed nature of the group to own design and manufacturing in high growth sectors. Very, very confident outlook: "Nick Jefferies, Group Chief Executive, commented: "This is a strong set of results. Sales increased by 21%, of which 9% was widespread organic growth across the Group, and underlying earnings per share increased by 24%. The second half has started well and we are on track to deliver full year performance in line with our expectations, supported by a record order book of �111m. Together with an increase in new project design wins of over 30%, with an estimated lifetime sales value of over �90m, we are well positioned for continued growth. Since 2011, we have been building a Design and Manufacturing business that would transform the Group into a higher margin business. D&M now accounts for 78% of Group underlying profit contribution.... ....We have many growth opportunities ahead of us as we drive towards our stated targets, and our ambition remains to repeat the performance of the last five years by doubling revenue and underlying earnings per share through a combination of organic growth and value-enhancing acquisitions." The highlights section says it all: "Highlights � Strong growth in sales, orders, profitability and earnings o Sales up 21% (+15% CER(2)) on orders up 22% (+15% CER) o Underlying operating profit up 34% (+23% CER) o Underlying earnings per share up 24% o Interim dividend increased by 8% � Wide spread organic growth across both divisions o Group organic sales(3) up 9%; orders up 10% in both divisions o D&M(4) organic sales up 11% - now 57% of Group sales (H1 2016/17: 52%) o Custom Supply (previously known as Custom Distribution)(4) organic sales up 7% � Good progress on key strategic and performance targets o Underlying operating margin increased to 6.2% (H1 2016/17: 5.6 %) o Cross selling of �4.2m, more than doubled from last year (H1 2016/17: �1.9m) o ROCE(5) of 14.5%, up 2.8ppts on last year (H1 2016/17: 11.7%) o Operating cash flow(6) at 95% of underlying operating profit in the last 12 months � Recent acquisition, Variohm, performing well with strong sales and order growth � Group well positioned for further growth o Highest ever period end order book of �111m (+16% CER) o New project design wins increased by 30% to over �90m(7) o Acquisition opportunities developing � FTSE sector reclassification from Support Services to Electronics and Electrical Equipment effective 18 September 2017 reflecting the scale of our D&M business"

Finncap have issued a big new 9-page note this morning, reiterating their Buy and 586p target price. They note that even this 586p target is "still a 9% discount to wider contracting peers who generally have a much poorer track record and very different risk profile"..... Which would imply a 644p target price to put RNWH on the same rating as its peers, i.e around 50% upside from here. More extracts at a later date.

Buying coming in now and common sense returning.

Here's their tip as posted elsewhere: "You can only delay infrastructure spending for so long. That forms one of the underlying investment themes for Renew (RNWH), particularly over the long haul. The Leeds-based group provides support for the UK�s infrastructure, in areas such as rail and water; where the imperative to commit funding for maintenance and renewal has moved from desirable, through to compelling, and in some cases critical. The 4 per cent rise in the engineering services order book in the year to September is therefore welcome, not only because the division generates four-fifths of group revenue, but as it underlines an �established position in long-term" � and crucially � "non-discretionary programmes�. Another telling metric is the 40-basis point increase in the underlying operating margin. Renew has tried to boost the quality of earnings to ratchet up margins. To this end, the group has exited its lossmaking small diameter gas pipe replacement activities. However, disregard the resulting �5.8m impairment charge and amortisation, and underlying profit was 16.4 per cent up at �25.6m. After a strong increase in the year to September, revenue at the specialist building business could reduce by as much as �35m this time around. Despite this, Renew is confident the division's operating profit will hold steady. Broker Numis gives adjusted pre-tax profit of �26.7m for the September 2018 year-end, giving to EPS of 34.3p, compared with �25.3m and 33.1p in FY2017. IC View As Simon Thompson has pointed out, even a slight improvement in margins will amplify profitability, so impressive is Renew's top-line growth. With the shares changing hands at an undemanding 12 times forecast earnings, we reiterate our buy call."

Encouraging to see a �5k buy at 270.97p - well above the published 270p full offer price. Looking good for new recent highs hopefully. And still on a single-figure P/E for the coming year.

spelling out the transition to own customised, higher margin products.... Http ://www.proactiveinvestors.co.uk/companies/news/185617/acal-building-momentum-with-its-higher-margin-strategy-185617.html?utm_source=Sign-Up.to&utm_medium=email&utm_campaign=7163-371381-Proactivity+-+23%2F11%2F2017 "Acal building momentum with its higher margin strategy 11:39 23 Nov 2017 The customised electronics firm said it has generated �good levels of organic growth� in the opening six months of its year, driven by new project wins and �favourable� market conditions Broker Peel Hunt is a buyer of the stock Peel Hunt reiterated its �buy� recommendation after the October trading statement, saying the momentum that started to build back in the fourth quarter of fiscal 2017 has continued through the first half of fiscal 2018. Organic revenue growth for the first half was 9%, which was thanks to a better trading backdrop, but Peel Hunt noted the group is also seeing an improvement in the quality of the order book. Shares in Acal PLC (LON:ACL) rose sharply at the opening bell on Monday after the customised electronics specialist revealed it expects full-year earnings to be ahead of expectations after a strong first half performance. The Guildford-headquartered group said it has generated �good levels of organic growth� in the opening six months of its year, driven by new project wins and �favourable� market conditions, particularly in continental Europe. �As a result, full year earnings are now anticipated to be slightly ahead of our expectations,� read this morning�s statement. The solid start is a continuation of the momentum Acal has been building in previous quarters. First-half total revenue jumped by 21% to �190mln for the six months ended 30 September compared with the same period last year (H1 16/17: �157mln). Organic sales in the Design & Manufacturing business � which accounted for 57% of the total revenue during the period � grew by 11%, while the Custom Distribution division saw sales rise by 7%. Group orders increased by 15% in the half, taking Acal�s forward order book to another record period end high. The group margin stabilised and was in line with the final quarter of last year, the company added. �The board is confident of making good progress through the rest of the year, continuing its established strategy of seeking high-quality revenue opportunities in our target markets, along with value-enhancing acquisitions.� Earlier this year, Acal agreed to buy out UK-based components manufacturers Variohm Holdings Limited in a deal which could be worth up to �13.85mln. Acal paid �12mln upfront, with a further �1.85mln payable should the new addition achieve certain growth targets and conditions. It is all part of a strategy to

More nationwide work stretching through into 2018: Http://www.ptsg.co.uk/news/electrical-services/ptsg-is-firstport-of-call-for-lightning-protection-services/ "PTSG is FirstPort of call for lightning protection services Premier Technical Services Group PLC (PTSG) is undertaking a series of repairs to lightning protection systems at a nationwide portfolio of retirement properties. FirstPort is the one of the UK�s premier residential property management groups...... ....PTSG�s Electrical Services division was awarded a lightning protection testing and inspection contract with FirstPort, which resulted in various repairs and upgrades being identified at several retirement properties. The group�s specialist engineers have been working across the portfolio to deliver works, and have been commissioned by the client to work on additional sites in 2018. The client has also expressed its satisfaction with the quality and efficiency of services provided by the lightning protection team. etc"

Yesterday's excellent trading update as at the end of November was most unusual for MOGP, and unusually bullish. On a mere �4m m/cap the shares are very good value imho. Perhaps this will see the start of a push for more analyst and press coverage etc. Let's hope so. Good coverage on i.i.i: http ://www.iii.co.uk/alliance-news/1511431188994488800-3/mountfield-group-expects-profit-boost-as-order-book-and-pipeline-busy "Mountfield Group Expects Profit Boost As Order Book And Pipeline Busy By Alliance | Thu, 23rd November 2017 - 09:59 LONDON (Alliance News) - Mountfield Group PLC said on Thursday full year profit was "likely to exceed" that seen in the previous two six month periods amid a strong order book and pipeline for following years. The flooring and construction services company said performance since the end of June and forecast revenue from contracts already announced for the remainder of the year led it announce net profit will likely "exceed" that achieved in the first half of 2017 and the second half of 2016. The company added that it expected to enter 2018 on a "stronger basis" than 2017. This was after Mountfield had announced contracts worth a combined GBP8.9 million since the end of June. All have commenced, the company said, and all are due for completion in 2018. The AIM-listed firm said its secured order book for the start of 2018 was expected to be at least GBP8.1 million. This contrasts to the GBP6.6 million secured order book the company had at the start of 2017. Mountfield said that since its 2016 restructuring it had focused on margin expansion and risk minimisation on contracts. This has resulted, the company said, in a "noticeable improvement" to its working capital position. As a result, Mountfield said it could undertake larger projects within its current financing facilities. The company will not require additional equity funding as a consequence. Mountfield's "strategy is to prioritise margins over turnover and the work won and under negotiation is at prices that accord with it", the company said. The trading climate "remains extremely active" with its Mountfield Building Group and Connaught Access Flooring subsidiaries both involved in a number of tenders for work to be undertaken in 2018. The company believes heightened activity levels will continue through to 2020 "at least". "This has been a very good year for Mountfield and the repeat orders prove our ability to successfully deliver large and complex projects", Mountfield Chief Executive Officer Andy Collins said. "As we near the year end, our secured work for 2018 is significantly above this time last year and we hope that we can continue to build on this year's success further."

News of another 300 bed student accommodation development, this time in Glasgow: Http://www.scottishconstructionnow.com/22882/student-accommodation-plan-for-former-glasgow-print-plant/# "Student accommodation plan for former Glasgow print plant Nov 22, 2017 The former John Watson & Company print works in Glasgow is to be redeveloped as student accommodation and office space following its sale to developers Watkin Jones. The planned development at Kyle, Calgary and Stafford Streets, will comprise student accommodation of around 300 bedrooms, ancillary accommodation, amenity space and parking.... ....Graeme Todd of DM Hall, who oversaw the sale, said: �The property was sold at a closing date with several offers generated by a marketing campaign which had the benefit of an existing planning consent for a student accommodation development. �Whilst there is much talk and debate about continuing demand for student accommodation development, our marketing of Kyle Street generated considerable interest, particularly as the site had so much to commend it, being close to the city centre, the motorway and a short walking distance from major bus and rail links. �Demolition of the old printing works is imminent and the development should be projected for completion in August 2019.�

AR is certainly not far away - this news today for example: http ://www.proactiveinvestors.co.uk/companies/news/187654/apple-makes-augmented-reality-headset-move-with-reported-acquisition-of-a-canadian-start-up-firm-187654.html?utm_source=Sign-Up.to&utm_medium=email&utm_campaign=7163-371330-PROACTIVITY+-+22%2F11%2F2017 "Apple makes augmented reality headset move with reported acquisition of a Canadian start-up firm 13:27 22 Nov 2017 Technology news website techcrunch reported that the US tech giant has acquired Vrvana, the maker of an augmented reality headset called Totem, for about US$30mln Apple Inc. (NASDAQ:AAPL) has reportedly made a move towards its aim of providing an augmented reality headset in 2020 with the acquisition of a Canadian start-up firm, according to website techcrunch.com. The technology news site reported that the US tech giant has acquired Vrvana, the maker of an augmented reality headset called Totem, for about US$30mln, citing two unnamed sources. It noted that the only product that Vrvana shows off on its website is the unreleased Totem headset, which it says is an "extended reality" device utilising key technologies from both AR and virtual reality to allow for both experiences on a single headset. Techcrunch pointed out that Apple also has made other acquisitions that underscore its interest in developing the technology that powers the AR hardware. In June, Apple acquired SMI, an eye-tracking firm that was working on solutions for VR and AR headsets, while other AR and VR-related acquisitions have included Flyby Media, metaio, Emotient, and Faceshift."

Finncap retain their Buy and 108p target price, and note: "The contract for delivery of the Q-Pulse quality management system again shows the scale of opportunity for the Ideagen software portfolio, across multiple sectors and territories, and with customers of significant calibre – with a beachhead contract potentially offering further inroads into additional territories for the same global customer. Following the 7th November trading update reporting performance in line with expectations, Ideagen's momentum remains strong, with an attractive free cash flow yield into FY19 and continuing upside to achieve the Megabuyte accounting and enterprise software peer group index rating of 25x P/E into FY18 and FY19."

The WeChat Pay deal getting extensive coverage in China - and note the comment from SCH about expansion in Paris as well as London: Http://www.chinadaily.com.cn/business/tech/2017-11/23/content_34901988.htm Extract: "Digital wallet WeChat Pay launches in UK By ANGUS McNEICE | China Daily UK | Updated: 2017-11-23 17:42 "In terms of demographics, the number of Chinese tourists in Camden is certainly growing, and in terms of a brand, Camden was an obvious choice. It's iconic in London," said Craig Jacoby, head of retail payments at SafeCharge.... .....Jacoby said WeChat Pay will soon be available at other shopping destinations in London, and it is also launching at six large retailers in Paris as WeChat moves forward with its international expansion."

Bargain time here imo - crazy sell prices being taken yesterday. The dilution from the exercise of the convertibles has been known about for some years, and is already accounted for. WH Ireland forecast 2.1p fully diluted EPS this year and 2.3p EPS next year. To emphasise, that's FULLY DILUTED. No convertible holder is likely to be selling at these prices, or anything like them. A P/E of 7.8 is just far too low considering the growth prospects.

Liberum have a big new Buy note out today - they've raised their target price to 74p (from 64p) based on potentially large profits from (1) the new Pennsylvania legislation and (2) the European internet casino roll-out....

Great stuff: Http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/IDEA/13441147.html - a large $1.6m "initial" contract win - in the petrochemicals sector - benefiting the current year - and in the USA, showing IDEA's global strength

on low volumes - stock must be hard to find. Potentially big upside here on the market catching on to what's happening, and to the high recurring income from the existing revenue streams.