Member Info for rivaldo

Excellent new article about the prospects for XAR. Lots to talk about, but here's just one small extract: Http://www.printweek.com/print-week/briefing/1153676/xaar-renewed-ambitions-in-milestone-year "He’s also hoping that Xaar can tap into another potentially enormous market – direct-to-shape printing. If big brands follow the example of Belgium’s Martens Brouwerij, this could be huge. “Just a few percent would be bigger than ceramics,” Edwards says. “Market adoption will be driven by brands, and they are starting to see it as viable.”"

Hybridan's forecasts post-results are per Hemscott: - this year : 1.52p EPS, £0.7m PBT - next year : 1.72p EPS, £0.82m PBT

Good to see the CEO emphasising in a new interview that H1 has been very good: “XLMedia’s main goals are first and foremost to continue our growth, constantly adding new verticals, geographies and advertising platforms. We have managed to achieve such growth in 2014 and H1 of 2015 and believe we can continue our growth further in the coming years." Http://www.totallygaming.com/news/mobile/xlmedia-ceo-highlights-bright-future-affiliates

Today's Shares Mag is rather complimentary about NCC - it notes that Liberum believe more acquisitions are on the agenda, as it has a "relatively ungeared balance sheet", with net debt to EBITDA of just 0.8. This could be increased to 3 times given the escrow division's predictable cash flows. They conclude: "SHARES SAYS: At 259p, we continue to see NCC as the best UK-quoted play on the long run cyber security theme."

"Business aviation services company Gama (GMAA:AIM) has successfully integrated Hangar8 and a recent trading update confirmed that synergies are flowing strongly and demand for its expanded aviation and ground services is healthy. Cantor Fitzgerald’s Robin Byde believes that ‘growth prospects for Gama, across all regions, organically and through potential M&A, are excellent.’"

Nice feature about XLM in today's Shares Mag - I seem to remember that XLM actually has $40m+ in the bank:: "XLMedia can beat the house Look for a strong set of first-half numbers from gambling marketer HISTORICALLY MARKET SCEPTICISM towards ad tech play XLMedia (XLM:AIM) tends to evaporate when the company delivers with its financial results so the stock looks interesting ahead of interim results on 21 September. The £134 million cap is a victim of weak sentiment towards its sector – not helped by profit warnings from the likes of its fellow Israeli outfit Matomy Media (MTMY). Based on Liberum’s forecasts the shares are on an excash price to earnings ratio of 8.2 for 2015 and yield 4%. We featured the stock in Shares’ Small Caps column at the end of last year (Shares, 23 Dec 2014) ahead of the scheduled January trading update and it is up nearly 70% since then to 66p – having reached a high of 77.5p intra-day in the interim. The company offers search engine optimisation services and uses gambling portal websites to drive traffic to the likes of 888 (888) and Unibet (UNIB:SS), banking a fee when users start betting. The acquisition of ExciteAd Digital Marketing (EDM) just over a year ago provided a step out into social gaming and is proving so successful the company has waived (2 Sep) a key condition for the release of a second deferred payment on the deal. By doing so it hopes to accelerate the integration of EDM into the wider group. SHARES SAYS: 􀁓􀁔 With at least $30 million in the bank and a track record of strong cash generation XLMedia has capacity for further deals."

Six Flags have announced big growth plans for next year, with loads of new attractions etc: Http://finance.yahoo.com/news/innovative-coasters-exciting-attractions-immersive-090000693.html "GRAND PRAIRIE, Texas--(BUSINESS WIRE)-- Six Flags Entertainment Corporation (SIX), the world’s largest regional theme park company, today announced a wide-ranging lineup of exciting and innovative rides and attractions coming to its parks in 2016, including high-thrill coasters, interactive rides, expanded family offerings, new twists on iconic favorites, and Northern California’s first-ever hybrid roller coaster. etc" Big new rides at parks attract large numbers and create queues for the new rides.....perfect scenario for accesso to thrive. Good weather would be the icing on the cake....

Good to see Standard Life's holding substantially increasing. They now have 1.32m shares, compared to their last holding per 16th July of 1.11m, so they've bought another 200,000 or so shares: Http://accesso.com/about-accesso/investors/#shareholder_information

Great finish yesterday. The CEO is very positive: Http://www.yorkshirepost.co.uk/business/business-news/yorkshire-methane-mines-to-keep-the-lights-on-1-7452619 "Yorkshire methane mines to keep the lights on Wednesday 09 September 2015 ​​​Alkane Energy, which mines methane gas from redundant Yorkshire coal mines, reported strong annual results, boosted by an “extremely good” performance at the former Maltby Colliery. Maltby, near Rotherham, ​moved into full production last summer and is now Alkane’s biggest mine​ with a capacity of 10MW​. ​Alkane’s CEO​ ​Neil O’Brien​​ said:​ “We are delighted with Maltby which is running extremely well. “The facility has been running flat out and we are testing new running regimes, generating more in weekdays and the winter and less in the summer and at weekends so we can capture top prices.” Mr O’Brien said the strong results reflect the investment the group has made in the business. With energy shortages expected over the next two winters, the group is well placed to step in to the breach and supply National Grid with much needed capacity. “Both National Grid and Ofgem have warned the system is getting tight. There will be five per cent spare capacity in the coming winter, which is down from the usual 10 to 15 per cent and in 2016 the system will be under even more stress,” said Mr O’Brien. Capacity will be further hit by the closure of ​Eggborough power station in Yorkshire and ​the Longannet coal plant in Scotland, which are both due to close next March, raising the spectre of blackouts next winter. “We are seeing rising demand from National Grid and we’re being asked to step in almost every day,” said Mr O’Brien. Elsewhere in Yorkshire, operations at the former Wheldale Colliery in Castleford also performed well and Mr O’Brien said Wheldale is “up there with the best”. The 10MW site is both a coal mine methane producer and a power response site, the name given to former mines that have no methane left but the mine workings are used to buy in gas to produce power to feed the grid. National Grid calls on Alkane’s power response sites when there is a supply wobble, known in the trade as a “kettle blip” (when everyone puts on the kettle during the TV ad breaks). It only takes 15 minutes for a power response site to generate power while a big power station takes four hours to run up, which makes it uneconomical if power is only needed for a few hours. Alkane is expecting increased demand when the Rugby World Cup starts later this month. “If England progress there will be kettle blips as people open the fridge to get another tinny out,” said Mr O’Brien. “

From Beaufort Securities' market report FYI: "Petards Group (PEG.L, 12.50p) - Speculative Buy Yesterday, Petards Group (Petards) announced its interim results for the half year ended 30th June 2015. During the period, the revenues fell to £6.1m from £7.2m in H1 2014, mainly due to £3m of lower margin equipment deliveries for the Ministry of Defence. The company reported a 39% rise in EBITDA to £609,000 and the operating profits soared to £436,000 (2014: £346,000). Pre-tax profit rose 30% to £356,000 resulting in an EPS of 1.03p against 0.79p in H1 2014. The total cash stood at £2.0m (31st Dec 2014: £1.4m) with no bank debt. On the operational front, the company won a several key contracts including orders worth more than £2.5m for Petards' eyeTrain CCTV systems and a new project from Bombardier. Petards order book at the end of period stood at £19m. Our view: The first half of 2015 has been quite successful for Petards with improved margins and a stronger order book. The results are in line with the company’s plan to become highly profitable and cash rich. The company’s performance follows its over 100% rise in orders from MOD, Siemens, Bombardier and Hyundai Rotem along with higher number of contracts from its existing and new customers. Petards received orders worth £3m after a five-year framework deal with Siemens Mobility for the supply of Petards train related products and services. Further, the company plans to avail new opportunities in its relatively small scaled division of Emergency Services. We expect Petards’ second half to be in line with the market expectations largely due to the number of contracts, pre-orders and higher customer acquisitions. Given the above, we maintain our Speculative Buy rating on the stock."

From VSA Capital today - they have a 43p target price, on a forward EV/EBITDA of only 5.7x.... "Alkane Energy (ALK LN)# Alkane Energy (ALK), the UK gas to power producer, has released interim results for the period ended 30 June 2015. • Revenue: £8.7m, +22.5% YoY (H1 2014: £7.1m); VSA FY estimate is £21.4m, +34.1% YoY • Adjusted PBT: £1.4m, +180.0% YoY (H1 2014: £0.5m); VSA FY estimate is £5.2m, +59.0% YoY • Net debt at 30 June: £19.3m, 41% net gearing (H1 2014: £12.4m, 31%) • Electricity output (CMM and Power Response) was 106GWh, +24.7% YoY (H1 2014: 85GWh); VSA FY estimate is 216GWh • Total installed generating capacity of 145MW • 94% of 2015 output contracted at an average price of £52/MWh; 56% of 2016 output contracted at an average price of £50/MWh (H1 2015: 89% of 2014 output contracted at an average price of £51/MWh; 64% of 2015 output contracted at an average price of £52/MWh) VSA Comment As highlighted by the recent trading update, ALK is trading in-line with our forecasts for the full-year. Almost all revenue was classified as core, at £8.6m, +45.7% YoY (H1 2014: £5.9m). Growth in core generation is largely as a result of full contribution from the Carron Energy power response assets acquired last year and the Maltby CMM operation, which was shut for three months in H1 2014 as the mine was sealed. STOR calls were also at an elevated level from April onwards and this has continued into Q3. Although UK electricity pricing has been on a downwards trajectory this year, ALK has now secured almost all of its 2015 baseload power output at an average price of £52/MWh. Baseload power prices have seen a slight increase in the last couple of weeks, as we move towards winter 2015/16, which has the potential be produce one of the lowest supply/demand margins on record. Our model assumes all remaining 2016 baseload output will be sold at current futures prices. This currently delivers an average selling price of £46.7/MWh for next year. However, baseload pricing is only part of the story. For its power response activities, ALK has reported that average pricing under its winter running programme has increased to £227/MWh for the coming winter, up from £195/MWh in winter 2014/15, +16% YoY with significant increases in availability and capacity payments as well. We believe this demonstrates the increasing importance of power response assets to the UK National Grid. The confirmed closure of the 2.4GW Longannet power station (c4.5% of UK peak demand) and the proposed closure of the 2.0GW Eggborough power station (c4% of UK peak demand), which will both close by 31 March 2016 alongside Ferrybridge C (1GW) are the latest announcements to highlight the growing fragility of the UK’s future power supply. With a forward EV/EBITDA of 5.7x and a P/Book of 0.8x, we maintain our BUY recommend

Yep, great stuff - 0.94p EPS in H1 alone, before the much seasonally stronger H2. The outlook is very confident. Back to 30p for starters?

The new ScrapRunner acquisition looks tremendous - just $2m cash paid for $0.7m of PBT and very high recurring revenues, plus no doubt cost synergies and opportunities for further sales to those clients who aren't already BRY clients: http://www.investegate.co.uk/brady-plc--bry-/rns/acquisition/201509070700232030Y/ Panmure have increased their target price to 129p (current price 96p). Forecasts for next year have been lifted to 6.9p EPS. Cenkos also say Buy today, and have further increased their forecasts after the excellent acquisition. And there's still room for further acquisitions from the £7m cash pile. The H1 results are obviously not great in themselves. BRY seem very confident that contracts signed in H2 will make up the difference for the year. In some cases I'd be somewhat doubtful about this, but I trust BRY's management, believe this to be a good company and am happy to hold. H2 news flow should be excellent assuming these "significant" contracts "in advanced discussions" come through. BRY's business is primarily about benefiting from volatility, not whether energy/commodity prices are high or low. Thus BRY's principal trading clients need BRY's products more, not less, in times of substantial price movements. Not to mention the growth and potential in Recycling. ...and of course BRY already has visibility on 80% of this year's forecast revenues with almost 4 months of the year still to go. Plus 55% of its income is recurring.

WH Ireland this morning have an 18p price target and note that their forecasts could be raised... "Petards*# (PEG) - Buy – Interims – solid results; forecasts unchanged Market Cap £4m Price 12p Target 18p Interims demonstrated a very creditable performance. H1 2015A revenue decreased by 15.3%, reflecting the mix of work undertaken in the period. However, the gross margin moved 900bps higher to 36.4%. PBT of £0.4m showed an increase of 30.4%, with diluted EPS moving 22.6% higher to 0.8p. The Group ended the period with a net cash position of £0.4m, an inflow of £0.5m since the beginning of the year. Solid outlook for the remainder of the year. The order book at £19m is marginally lower than the previously reported £20m position in March but shows good order coverage for H2 and beyond. Management note that order intake across the Group has been slower than anticipated in part, but with a good number of opportunities in the current pipeline. Looking further out, last week’s formal opening of the new Hitachi rail vehicle manufacturing facility in Newton Aycliffe is clearly positive. At this stage, we make no changes to our estimates but should current trends continue, see scope for these to be raised in due course. Our valuation is undemanding. Based on our forecasts, the shares currently trade on a FY 2015E fully diluted PER of 7.6x and EV/EBITDA of 3.5x. Given the level of secured work, in addition to the pipeline of opportunities ahead, we believe that these multiples significantly undervalue the business. We maintain our Buy recommendation and 18p share price target, a 20% discount to the wider Support Services sector."

Very good H1 results. PEG made 1.03p EPS in H1 alone, against a 12p share price. Forecasts are for 1.5p EPS this year, so it looks like they could well be beaten, and possibly handsomely. Cash generation was good, and they now have a £2m cash pile against a £4.84m m/cap, with the CLN not due until 2018. The outlook statement shows a lot of confidence for the year end outturn. Good to see the "much stronger" recurring revenues this half too. The share overhang appears to have disappeared. With a mere £4.8m m/cap WHI's 18p target is well within reach given 1.5p+ EPS this year.

NXR are tipped in this week's Shares Mag as part of a long feature on top brands: "Norcros (NXR) 20.7p It may be the name of Neptune’s largest moon but Triton is almost certainly better known to UK consumers as one the country’s most recognisable marques of electric shower. What they may not realise is that it is a brand owned by listed bathroom fit-out specialist Norcros (NXR). The company would appear to be an obvious beneficiary of the UK’s still nascent economic recovery. Meanwhile, an objective to greatly increase the proportion of revenues generated from outside the country should also help prompt a rerating as the market rewards a more geographically balanced business model. Norcros supplies high quality showers, taps, bathroom accessories, ceramic wall and floor tiles as well as adhesive products. The group’s operations are primarily located in the UK and south Africa. In the UK, Norcros owns Triton, the market-leading shower brand, Johnson Tiles and Norcros Adhesives as well as Vado - a major manufacturer of bathroom controls including taps, mixer showers, bathroom accessories and valves. These are exported to over 60 countries, most notably the Middle east and Africa – a judicious and accretive addition from March 2013. In south Africa, norcros operates under three brands; ceramics retailer Tile Africa; Johnson Tiles South Africa, a manufacturer of ceramic and porcelain tiles; and TAl which manufactures ceramic and building adhesives. The bathroom fit-out specialist is up 14.5% year-to-date and while revenue growth has been muted in the first quarter, we keep faith with a proven management team implementing a sound growth strategy. despite a positive backdrop for construction, The group saw only 0.7% revenue growth in the UK in the year to march 2015. The South African business, by contrast, saw 15.1% constant currency revenue growth but gains have been severely impacted by a weak rand. The more recent first quarter update (22 Jul) trimmed turnover growth in that region back from 12% (constant currency) to 7.9% in sterling terms. The upshot is that first quarter revenues are up 3% (or 4.3% if you discount currency movements) and again, as per final results on 18 June, Norcros flagged a challenging UK retail environment. On the upside, the UK trade segment was a little more encouraging with revenue growing 0.6% in the period as the group benefited from increased activity in the trade segment due to an improving housebuilding and commercial space. The 25 June announcement of the group’s £21.9 million acquisition of Croydex – a designer, manufacturer and distributor of high quality bathroom furnishings and accessories with exposure to both the UK trade and retail segments – is exactly the kind of deal norcros should be doing in order to drive UK growth. ‘The acquisition of Croydex is a compelling fit with our strategic growth criteria, bro

The AGM has come and gone. Good to see the share price inching up again. I e-mailed CRE again - it seems that the next trading news will be the interims in November "As there is no new information to update the market on since our last trading update on 9 June". This is good news. There can have been no material change in trading since that positive results outlook in June, otherwise CRE would have had to say something. So nothing has changed, and hopefully we can therefore expect good interim numbers.

Around 7.2p EPS in H1 alone, and a very confident outlook going forward for the year-end outturn, reinforced by the H1 divi up 27% to around 1.3p. Plus a $9m cash pile. New products being successfully introduced. Global growth momentum being maintained. China is a huge opportunity and should start to reap dividends in H2 and beyond, and Latin America and India are also off the ground now.

WH Ireland's monthly magazine WHI Spy is just out for September, and GMAA is the main company featured....which will hopefully bring in some interest: Http://assets.wh-ireland.co.uk/downloads/whs/2015_09.pdf "FLYING HIGH AND SCOPE FOR FURTHER EXPANSION Gama Aviation (GMAA) FTSE AIM | Share price: 305p | Market Cap: £130m www.gamaaviation.com Gama Aviation is a global aviation services operator with 144 aircraft under management in 44 locations and spanning 5 continents. Though it was founded in 1983 the business joined AIM earlier this year following a reverse takeover of its smaller rival Hangar8 – a move which has greatly expanded its geographic reach. It operates aircraft on behalf of aircraft owners, providing a raft of services from aircraft management and charter through to engineering and support services. Gama can also deliver: crew personnel, fuel, insurance, hangar space, valeting as well as all travel arrangements. The private aviation market is growing but the major opportunity for Gama is the fact that the industry remains highly fragmented. In Europe nearly 80% of fleet operators manage just 2 to 5 business aircraft and only 9 companies manage a fleet in excess of 20 aircraft. The US market is not dissimilar in its composition. Gama has a market share of less than 1.6% of the EU fleet and 0.5% of the US fleet there is clearly scope for more acquisitions. What we like The aviation market has stringent and increasing regulation with the expense of obtaining an Air Operator Certificate (AOC) proving a major barrier of entry for new competitors. Sub scale operators will struggle to afford this regulatory burden and are unable to match the integrated offering of the likes of Gama. Up to 80% of its gross margin is contracted and there is a high degree of nondiscretionary spend to maintain aircraft. Gama also expects further potential from its 5 year contract with US based Wheels Up, a membership based private aviation operator to manage aircraft. Restructuring post the deal with Hangar8 has allowed Gama to extract significant cost savings and it recently confirmed it was performing in line with expectations. Trading on less than 12x 2016 earnings the shares look undervalued given the growth potential. Results later this month should provide a useful opportunity for investors to take a closer look. Estimates to Dec 2014 (E) 2015 (E) 2016 (E) Revenue (£m) 282.3 323.9 371.9 EBITDA (£m) 14.1 20.9 23.8 EPS (p) 11.6 22.9 26.9 P/E (x) 26.3 13.8 11.3 DIV (p) Nil 2.25 2.75 Yield (%) N/A 0.7 0.9"

CAR is rather an exciting company imo at present. CAR showed 30% underlying EPS growth last year, and another 30% growth is expected this year with a further 20% next year. I can see CAR trading on a P/E of 15-16 with a share price of say 190p-200p looking to next year's forecasts of 12.5p-13p EPS. The LED division is in a fast-growing and highly profitable niche which is being fast expanded into additional areas. CTP is similarly placed in a healthcare/diagnostic space with growing and high recurring income, and is expanding across the world building on its excellent reputation. Precision engineering is small relative to the other divisions, though nicely profitable. Plus we have CDS in for free. The LED and CTP divisions are just what the City loves - secure income streams for years ahead in growing sectors.