Member Info for rivaldo

Cantor Fitzgerald reiterate their Buy following the results, with a 24p target price: Http://investing.thisismoney.co.uk/broker-views/ That's almost 100% upside. The 24p target price moves from 25p, I suspect only due to the slightly increased shares in issue given today's warrant exercise and the Biopalm share conversion at 13.25p.

Https://www.prolificnorth.co.uk/2017/09/taylors-of-harrogate-chooses-life-for-shopper-campaign/ "Taylors of Harrogate chooses LIFE for shopper campaign By David Prior — 26 September 2017 Taylors of Harrogate has hired Birmingham agency LIFE to execute a master brand shopper campaign covering its tea and coffee portfolio. Following a successful shopper marketing campaign for Yorkshire Tea, LIFE has created and implemented a core shopper and below the line (BTL) campaign to support ‘The home of Extraordinary Flavour’ campaign, positioning Taylors as a tea and coffee brand that delivers an intense flavour. Some of LIFE’s creative for the campaign The agency executed the campaign specifically for Waitrose, Sainsbury’s and Morrisons, using media touchpoints including retailer press, printed and digital six sheets, retailer.com, in store sampling collateral and point of sale. The master campaign will coincide with two TV adverts created by Lucky Generals, both of which will support the rebrand. Deborah Smith, shopper marketing manager for Taylors of Harrogate, said: “We were impressed with the insightful and creative approach that LIFE presented during the pitch process. The team have showed a real passion and understanding of our brand and our customers. We’re looking forward to working together on further campaigns in the future.” Now in its 10th year, LIFE’s 50-strong agency with clients including Coca-Cola European Partners, Dr. Oetker, DeLonghi and Whitbread. In 2015 it became part of Leeds-headquartered Communisis PLC."

I've just seen a review of ratings in ACL's previous Support Services sector. The average current year EV/EBITDA is 12.5 - ACL's is only 8.8, and the lowest of all the 7 companies listed in the review. This falls to 8.2 next year. As for P/E, the average current year P/E is 20.2 - ACL's is 14.1, the second lowest. The average falls to 18.4 next year, with ACL's falling to 13.1, again the second lowest

Enough time has passed since publication to post WH Ireland's post-interims views. They see 2.12p EPS this year rising to 2.31p EPS next year. At 25.25p that's a forward fully diluted P/E of only 10.9 now, and an adjusted EV/EBITDA of less than 6. The order book has increased by 20% to £24m since the start of the year, giving excellent forward visibility: "Petards* Interims illustrate good progress; order book +20% Petards supplies advanced security and surveillance systems to the Transport, Defence and Emergency Services markets. H1 2017A results demonstrate a creditable performance, with growth in Transport and Emergency Services more than making up for a reduction in Defence sales. The order book has increased by 20% since the beginning of the year to £24m, providing excellent visibility over the next 18 months, including £8m order coverage for H2 2017E. Following the results, we have left our revenue and profitability forecasts unchanged, whilst reducing our year-end net cash expectation to reflect the increase in working capital and higher capex in the year. We maintain our Buy recommendation and 42p share price target. H1 2017A revenue increased by 8.1% to £8.0m, reflecting good performances in Transport, which accounted for almost two thirds of Group revenue, and Emergency Services, offset by lower activity in Defence, albeit with the latter ending the period strongly. The gross margin moved 340bps higher to 38.6%, this reflecting the fact that two of the six major eyeTrain contracts were nearing completion. Administration costs increased by £432k, in part reflecting a full period of costs from QRO, along with higher depreciation and amortisation following increased investment. PBT of £503k was 5.9% ahead of the prior six month period, with diluted EPS moving 3.2% higher to 0.98p. The Group ended the period with a net cash position of £33k (FY 2016A £0.8m), reflecting an increase of £1.1m in working capital and total capex of £585k, principally relating to three major eyeTrain orders. Management expects to see positive cashflows from these eyeTrain contracts in H2 2018E. The order book is reported to have increased by 20% to £24m as at 30 June, with eyeTrain accounting for more than 75% of this and including Stadler Bussnang AG on the list of customers for the first time. H2 2017E order coverage presently stands at £8m, with approaching £11m secured for FY 2018E. On the back of the results, we have left our revenue and profitability forecasts unchanged. However, given the anticipated working capital and capex requirements, we have reduced our year-end net cash forecast by £0.9m to £0.3m before expecting to see an improvement in H2 2018E. The shares currently trade on a FY 2017E fully diluted adjusted PER of 13.8x and adjusted EV/EBITDA of 6.0x. Given the level of secured work, in addition to the pipeline of opportunities, we believe t

Peel Hunt have today increased their target price to 230p (from 225p) and say Buy: Http://investing.thisismoney.co.uk/broker-views/

Terrific results and a bullish outlook today - the current valuation is just far too low. IMO anyway. This will surely spark the re-rating at last: Http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/DKL/13376457.html "Record H1 financial performance · Record H1 financial performance due to stronger pricing and the increase in CPO storage capacity from 5,000 to 8,000 tonnes which enabled the Company to sell CPO at a premium to international prices · 22.6% increase in revenues to €19.6 million (H1 2016: €16.0 m) - includes sale of Crude Palm Oil ('CPO'), Palm Kernel Oil ('PKO'), Palm Kernel Cake ('PKC') and Nursery Plants · 19.4% increase in EBITDA to €3.7 million (H1 2016: €3.1 m) · 33.3% increase in net profit after tax to €2.4million (H1 2016: €1.8m) · 26,947 tonnes of CPO produced in H1 2017 (H1 2016: 28,550 tonnes) - record Q1 like-for-like production was followed by lower Q2 CPO volumes due to now rectified mechanical issues.... Maiden final dividend · Progressive dividend policy adopted and final dividend of 0.17p per ordinary share declared and paid on 4 September 2017.... DekelOil Executive Director Lincoln Moore said, "The record first half financial performance, specifically in terms of revenues, EBITDA and net profit, demonstrates how cash generative our 100%-owned palm oil project at Ayenouan is becoming. Not only does it generate funds for additional investment into the project to increase profitability further, such as the new 3,000 tonne storage tank, but also sufficient cash to pay down debt and to fund a progressive dividend policy. "Ayenouan proves our strategy to work closely with local smallholders works for all parties and we are keen to roll-out our vertically integrated model, which includes a state of the art nursery, mill, and company-owned estates, elsewhere in the region. We are already making progress: as announced post period end, operations at Guitry, our second 100%-owned project in Côte d'Ivoire have formally commenced; and we remain in discussions to acquire an interest in Norpalm Ghana Limited, a vertically integrated palm oil producer in Western Ghana which produces approximately 15,000 tonnes of CPO a year from a 30t/hr mill. Becoming a multi-project palm oil producer is key to delivering on our goal to transform DekelOil into a leading palm oil company in West Africa and I look forward to providing further updates on our progress in due course."

SDI have today confirmed they're on track for at least 1.94p EPS this year, rising to 2.22p EPS next year. That's a P/E of 11.8 falling to 10.4. And a PEG of just 0.72, which also flags terrific value. And yet the only trade so far today is a 5k buy. The market will wake up to this at some point and re-rate the company a quick 30%-40% to 30p-32p imo. With more upside potential on another acquisition.

Numis have today increased their price target to 205p (from 165p). They say Hold, but of course that was based on this morning's opening price.

Finncap today reiterate their Buy and 586p target. That's 40% upside from 418p. They go for 32p EPS for the year ending in 4 days' time, with a 9.2p dividend. For this year starting 1st October they forecast 34.1p EPS with a 10.6p dividend.

Downing and their funds have now increased above 6% with 2.75m shares. They've actually bought around 440,000 more shares since their last holdings RNS last month, so they're quite keen: Https://www.investegate.co.uk/gama-aviation-plc--gmaa-/rns/holding-s--in-company/201709251423557329R/ I note that the last buying date was last Friday, which was the day after the Capital Markets Day, so we can hopefully deduce that the day went pretty well.

Very good H1 results, with EPS up a lovely 21%. Most importantly, the outlook is extremely bullish. With the acquisitions during H1 PTSG look well set to meet or beat expectations for the year. And more acquisitions are likely of course. With "high value cradle installations" planned for this H2, plus the divisional reorganisation highlighting PTSG's fire safety attributes, the confidence about the rest of this year appears well justified: "PTSG has considerable opportunity ahead. Our unique operating model delivers high contract retention rates, very steady gross margin performance and healthy underlying organic growth rates and we continue to identify carefully selected acquisition opportunities where our operating model can be put to good effect. Collectively this gives the Board confidence that the Group is well positioned to maintain its current positive momentum. Since 30 June, trading has continued to be strong and we remain hungry to succeed, confident of our prospects and enthusiastic about the future both in the remainder of this year and beyond."

Nicely in line to date, and to say at this stage that the rest of the year is viewed "very positively" is rather bullish: "The Group is trading in line with our expectations and the outlook for the year is unchanged. We are encouraged by the pace of the integration of Applied Thermal Control and the Board views the current financial year very positively."

N+1 Singer believe the shares are "good value" and say their forecasts imply a 68p share price. Extracts from N+1 Singer's note: "Transformed opportunity; executing to plan ATTRAQT’s first set of results post the Fredhopper acquisition are in line and show the transformational impact of the deal. We are excited about the group’s opportunity to address the 56,000 online retailers it can target with its technology. The group has shown good contract win momentum and secured its second largest win in its history post period. It is growing double digit organically, has c.85% recurring revenues, profitable and cash generative. We believe there is the potential to deliver significant shareholder value from these levels, where valuation is at 2.2x 2018 EV/Sales." "2nd largest ever win post period The group won 13 new logos, including Arc’teryx, Brora, Country Attire, Hunter Boots, Specsavers, and The White Company. Post period, there were further strong wins including one of the largest global sportswear manufacturers in the world across both EMEA and North American regions. This is the second largest win in the group’s history. H1 revenues together with the exit run-rate (£16.5m) give visibility of 93% of FY’17 revenues." "2.2x EV/Sales 2018 attractive ATTRAQT trades on 2018 multiples of 2.2x EV/sales, 14.4x EV/EBITDA and 23.2x PE. Comparable SaaS companies have average EV/Sales of 3.3x and EV/EBITDA 2018 of 21.7x. With c.85% recurring revenues, organic growth in 2018 of c.17%, a highly operationally geared model, a positive demand environment and a global market opportunity, we believe the shares are good value. Putting ATTRAQT on the average 3.3x 2018 EV/Sales multiple implies a 68p share price."

Ploughed through the latest 22 page Cenkos note this weekend. It's amazing to note that XLM trade on around a 60% discount to the vastly inferior Catena Media. I hadn't realised that XLM own the 101greatgoals.com web site, which I regularly visit. XLM also trades at around a 50% discount to its UK-based price comparator stocks, and around 10% to gambling/gaming operators.

Whitman Howard have issued a brief update entitled "Post analyst meeting feedback" FYI. They retain their Buy and 2,000p target. A couple of snippets - sounds like management are priming the analysts to expect more news from the Asia-Pacific region, including China: "The Board are confident are making FY estimates and we reiterate this confidence. H2 will have the full summer trading months and the added benefit of both recent acquisitions which are progressing to plan, and the recent Village Roadshow contract win in Australia." "ACSO continues to benefit underlying growth in theme parks as well as the increasingly connected nature of venues. We retain our positive view. Management continued to highlight the potential of the Asia-Pacific region and the importance of being taken in to the Chinese market by Merlin. ACSO is supported by significant long term contracts (Merlin, Six Flags, Village Roadshow) with clear visibility and an improving mix of the higher margin ticketing sales."

WH Ireland have issued a new note post the Capital Markets Day. They reiterate their Buy and 370p target price - 50% upside from the current 246p share price. They forecast 32.9c EPS this year, rising to 36c and 41.2c. That's around 24.3p EPS this year rising to 26.7p and 30.5p EPS. They comment as follows: "Capital Markets Day illustrates the platform built to support growth Gama Aviation is a global business aviation services provider. The Group yesterday held a Capital Markets Day at its Farnborough HQ, including its Air and Ground operation centres. The event provided the opportunity both to revisit the operations at first hand and to meet the wider global senior management teams. Key takeaways were: 1) the robust and scalable operational platform that has been built against what remains a highly fragmented market, 2) strength of the wider management team, 3) the growth opportunities in each of key geographies, including in special missions and through cross-selling, 4) the focus across the business on client delivery and 5) reinforcement of the regulatory environment in which the Group operates. Whilst the shares have performed well since the beginning of the year, we believe that the business is illustrating increasingly positive momentum, including improved cash generation as illustrated in recent interim results. We continue to see the valuation multiples ascribed as undemanding and we reiterate our Buy stance and 370p share price target. Gama’s HQ and core centre of operations in the UK is located at Farnborough Airport. In the Air division, this hosts the Group’s operations centre, international flight planning, charter operations, airworthiness and regulatory functions. Ground operations at the site include the Beechcraft authorised service facility, base maintenance and line maintenance capabilities. We believe that each geography has interesting areas from which to deliver growth: Europe - adding scale to the existing platform and expansion from what remains a predominantly UK centric business into mainland Europe, US – adding further scale from the established platform, leveraging the Signature network following the recent BBA merger and building on the single existing special missions’ contract in place, Asia – build scale from leveraging Hutchison Whampoa and CASL agreements and through acquisition and Middle East – build scale both through organic and acquisitive means, including taking advantage of regulatory changes in Saudi Arabia. Overall, we came away with the view that Gama has built a strong platform from which to grow in this highly fragmented market. Our forecasts imply that the shares trade on a FY 2017E PER of just 9.5x falling to 8.7x, which suggests a significant 40%+ discount to our basket of peers. As such, we reiterate our Buy recommendation and 370p share price target."

There's work on fire safety for blocks of flats for years to come post-Grenfell per this report today: Https://www.theguardian.com/business/2017/sep/24/grenfell-tower-work-to-upgrade-fire-safety-in-high-rises-could-take-years "Improving fire safety in high-rises after Grenfell blaze 'could take years' Completing repair work on the hundreds of buildings that have failed fire safety tests in the aftermath of the Grenfell Tower disaster could take years due to the scale of the task, according to a government document. etc"

VLE are presenting on October 11th in London as follows along with Creightons and probably one or more other companies - it's free to register: Http://www.blackthornfocus.com/blackthorn-event/apply/568-c3c52ee29d8bd7f2a4e93acd3dce9b3551c39225 Simso elsewhere has produced a "sum of the parts" valuation as follows which gives an NAV of 1,389p per share - almost 75% upside from here:- 1. Shire: My profit assumption for H2 is that it will match last year's H2 of £1.02m. We are now past the anniversary of sterling devaluation, so the negative impact on margins has worked through. The re-pricings they have progressively done through H1, and also the fact that sterling in H2 may actually be better than H2 last year, may make the out-turn better. A full year out-turn PBT of £0.78m, I apply a lowly rating of 5* Post Tax Earnings to derive a value of £3.1m. 2. Impetus: I am hoping for at least £3.7m PBT as already explained. I would value this much more highly, and think a market average P/E of 14 times is prudent given the growth and contractual backing for the earnings. Value £41.4m. 3. Perhaps harshly I give no value to Sira. 4. £2.6m of NTAV given that it is mostly freehold property. That gives a Gross Value of £47.2m, from which I deduct 20% for Minorities and a further 10% for Bruvva's Bonus for the increase in value created....so net net £31.2m. I would expect year end cash to be at least £22.5m, so my total SOTP valuation of the business is £56.6m (£13.89 a share)." This valuation increases to around 1,500p per share if you assume a prudent 10% growth rate for Impetus, introduce some value for Sira Defence etc.

New product release: Https://www.ideagen.com/company/news/ideagen-release-pentana-disclose-v4/ "Ideagen release Pentana Disclose v4 22 September 2017 Ideagen, developers of quality, safety, audit, risk and performance management software, has released the latest version of its popular financial disclosure checklist software, Pentana Disclose. The latest version of the software, now in its 4th edition, is a web-based SaaS solution and modernises the user experience thanks to several new features and capabilities.... .....Ideagen’s Pentana Disclose provides an efficient way to check disclosures required by accounting standards and legislation needed for entities preparing financial statements. The software provides checklists in accordance with both UK and International Disclose requirements such as FRS 102, 103 and 105 (including all SORPS) and UK GAAP. Internationally, Disclose covers IFRS and AIFRS among other interims. Ideagen’s Pentana Disclose software supports eight of the top 10 global accountancy firms and by more than 250 organisations globally, including PwC, RSM, EY, Moore Stephens, PKF International, Grant Thornton, BDO and Scott-Moncrieff. etc"

Incredibly impressive momentum it would seem. I like the sound of this nationwide contract with Wetherspoons: Http://www.ptsg.co.uk/news/electrical-services/ptsg-raises-the-bar-with-new-jd-wetherspoon-contract/ "PTSG raises the bar with new JD Wetherspoon contract Premier Technical Services Group PLC (PTSG) has secured a contract to provide nationwide portable appliance testing (PAT) services for UK pub chain JD Wetherspoon. Engineers from PTSG’s Electrical Services division will attend 120 pub sites around the UK to provide PAT testing, ensuring all portable appliances used at the pubs are safe to operate. The contract will require a dedicated team of PAT operatives to manage the specialised nature of the works. Founded in 1979, JD Wetherspoon currently owns just under 1,000 outlets...... etc" And also this major contract for E.ON: Http://www.ptsg.co.uk/news/electrical-services/ptsg-powers-ahead-with-e-on-uk-contract-win/ "PTSG powers ahead with E.ON UK contract win Premier Technical Services Group PLC (PTSG) has been awarded a contract to provide a bundle package of specialist services for energy company E.ON UK. Engineers from PTSG’s Electrical Services division will provide maintenance and testing services to fall arrest, lighting protection and mansafe systems, as well as fixed wire testing, to E.ON’s portfolio of distribution centres located across the UK. E.ON UK is a subsidiary of E.ON, the world’s largest investor-owned power and gas company. It is headquartered in Coventry and currently employs 15,000 people in the UK......" Finally, another nationwide contract for ScS Http://www.ptsg.co.uk/news/electrical-services/ptsg-brings-home-comforts-with-scs-contract-win/ "Premier Technical Services Group PLC (PTSG) has been awarded a contract to provide a bundled package of specialist services for home furnishings retailer ScS. The package consists of fall arrest and lightning protection testing and maintenance services, which will be carried out across ScS’s nationwide portfolio of distribution centres by specialist engineers from PTSG’s Electrical Services division. etc"