Member Info for RunThoseProfits

Accountant - in January updates to eps were provided. I have 37.85 (2024), 45.88 (2025) and 53.4 (2026) - at today's share price (currently 492.5) I get a PE of 13 for 2024, and forward PEs of 10.7 (2025) and 9.2 (2026). I may well be wrong but those are the numbers I've used.

Thanks Scooby. As I say in my post below I'm relatively new to investing so keen to learn from others. Having to learn quickly!

I understand that proceeds from the sale of the Engineering division will be returned to shareholders through a probable tender offer. Can someone explain how that works in practice to this new investor?

I had a look at the overall AIM performance this evening. The FTSE Aim All share is within 6 points of its 52-week low. The FTSE Aim 100 has lost 14% of its value since the 1st of May last year and is down almost 48% since the start of August 2021 - just over 3 and a half years ago. That's pretty catastrophic and goes to show just how tough a market it is to invest in. It just feels that at present, with all the considerable uncertainty that exists with Tariffs etc that even the slightest hint of bad news is being hammered even when it in actual fact relates to investment for the longer term benefit of the company. The share price reaction to the Synectics trading update has been a salutary lesson to this new investor. I'm learning quickly just how uncertain markets can be and how tricky it is to invest in Aim. I will hold onto the mantra of investing in good businesses and being patient.

It's not showing on LSE just yet but it appears from other sources that Connor, Clark and Lunn increased their short position on 5th March and there are now 4 open shorts on Ashtead Tech. Two have increased this week. Given the share price nose dive they appear to be winning at the moment.

I was struck after the trading update for the year recently that the share price slumped on pretty small trading volumes. Looking at trades today on LSE we have 1.5k of sales and 18k of purchases and the share price falls 0.8%. Is it just me or is that not odd?

What makes you say that Scooby? Looking at the trades today there are yet again lots of late declarations.

The warrants end this summer. The Seafox holding is now around 5%, so less material than it was. There's no certainty of course but in all likelihood this will be distributed to their shareholders in tranches to come as they have been doing in recent months. To me these are short-term distractions. I'm inclined to stay patient on this one and put my faith in the business to continue the great progress made in turning the business around in recent years. The analyst forecasts of anywhere between 25-30p seem eminently achievable.

It's been a torrid couple of weeks even for a number of high quality stocks on Aim. Relatively speaking, GMS has held up reasonably well.

for any that have not seen it the following is worth listening to and perhaps put this morning's results in some context:

https://www.youtube.com/watch?v=dij4zoglrju

this is one of the ********** videos with christopher mills a month or so ago - spire is covered at approx 9 mins 20 secs in. harwood capital have just over 2% of the business last time i checked.

relating the results to what christopher states it's perhaps surprising that eps didn't increase more and that debt hasn't reduced further, although these are somewhat explained by the further investment in the business.

dyor

My bad oogleflugal - of course it's not on Aim! Most of my investments are, this is one of the few that is not. Just venting a little frustration.

This is an absurd over-reaction to a positive set of results. We've seen it time and again recently with other strong, stable and successful businesses such as Ashtead Technology, Transense, Synectics and many others. Aim can truly be a frustrating market in which to trade.

At close of play I have the shares on a forward PE of 8.9 and PEG of 0.5 (for 2026). The share price is approaching half of what it was at its peak in 2024. I do think the company could do more to communicate with shareholders. It doesn't give out many updates. That said, I do feel it's a very strong business and one that will deliver for shareholders who remain patient.

As seems to have happened so often during this season of trading updates, a great business provides a terrific set of results and the sp takes a dip. Aim can be such a depressing market. This is undoubtedly a thriving business and it strikes me that today offers a good opportunity to top up.

Looking forward to the full year trading update for FY24 on 6th March.

Good to see the vote go through today at the AGM, to delist from the main market and move to the Aim market instead. Should save the business some money and be less burdensome from a regulatory perspective. I look forward to the business progressing its strategy and delivering significant value to shareholders as it grows its top line and benefits from its work to strengthen the balance sheet.

Thanks for your thoughts Dartron. I don't disagree with the general thrust of what you say but whilst the multiple may struggle I would expect to see more recognition of the value being built and delivered by the business (and others on the Aim market). I will hold long on Ashtead Tech as I think it's a terrific business delivering on its strategy, much as the original Ashtead business did.

The RNS states there will be no impact to earnings this year as the software will require several months to be rolled out across Logistics UK. Cavendish states much the same but also states that it is an initial 3 year contract whose value will be amortised over the life of the contract and provide high quality recurring revenues. Their target price appears unchanged at 349p. It is a little disappointing that neither this announcement nor the previous one about the partnership in the US provided any sense of the estimated commercial value of the contract / partnership. It doesn't help investors to quantify the deals in any way to help inform investment decisions.

There is no obvious reason that O'm aware of for the sp of Ashtead to have dropped so severely since its recent trading update (and more widely since it's highs in the middle of 2024). Sadly the shooters seem to be winning at present, but I believe this is a strong business that is and will continue to deliver on its strategy. The target sp of around 850p feels imminently sensible and achievable - indeed it was at these levels last year, and that was before its takeover of a couple of businesses later in the year which were considered earnings accretive.

Since the trading update the share price has been hammered on even a handful of low volume sales. When the opposite has happened (such as in early trading today) there is no equivalent upwards movement. The MMs are having a laugh aren't they?

It's been a grim week on Aim. Businesses reporting strong trading updates or even slightly ahead of expectations are not seeing their sp progress. If anything they remain flat or even fall back. Any perception of bad news is being hammered. It's incredibly frustrating that good businesses that are under valued are not being recognised in this irrational market.