focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
But the SP is down 30% for a reason. RTO are clearly overpaying hence there own share price rapidly heading to its own 30% decline. 80% of acquisitions destroy value to the buyer. Clearly this is not one of the 20% exceptions to that rule.
A new CEO, a new CFO, an acquisition in which the Circular suggests declining sales and an exit p/e of nearly 40x. No wonder shareholders who stumped up 485p per share before the full facts were known have headed for the exit.
A small tech company that attracts overseas buyers of its products, but not UK buyers. Tells you all you need to know about head in the sands British management generally.
Agreed. Still ridiculously undervalued.
It is not dilution that is the issue. It is whether the acquisition is value enhancing. as 80% of acquisitions are value destroying to the buyer. Is this one of the 20% winners. Evidence please.
Town is running to stand still. Too much short term debt that needs to be refinanced asap to give some breathing space. Otherwise a drip drip of property sales will be necessary.
There is still a huge stock overhang. I suppose a trade buyer could step in.
Surely if they delay the results, the market has to be notified. Answers on a postcard.
Problem is that these extraordinary items keep appearing year after year. So goodness knows what other nasties lie under the bonnet. But we will find out soon enough as the new CEO gets his feet under the table. JMAT has been a great company in the past, and can be again now they have pensioned off the exiting value destroying CEO.
It is not that BHP is leaving, but Woodside not joining. This morning's RNS is depressingly vague.
In summary a basket case.
Yet more extraordinary items which are not extraordinary at all but business as usual. Plus a shed load more next year.
DT appears to be trading on a forward p/e of circa 5, has freeholds of about £4 per share and after deducting debt about £3 per share.
What am I missing?
Do not carried away. Buried away in the small print are £170m of yet more extraordinary items, which as ever are really business as usual.