Member Info for SlickMongoose

Fleccy, why are you spamming the board with AI slop?

Yeah I hope this doesn't get sold on the cheap, it's the best income share in the FTSE.

I've been wondering the same fromage. How much of the rise in metal prices is temporary I don't know. I only have a small % here so happy to just keep them but it's tough to decide when to sell a cyclical.

Does it say anywhere when the dividend will be paid?

Last year was the 23rd of May, so probably some time around then.

Yeah the share price will drop with the market, investment returns will be down, the company will be fine.

And why is 20% of the award based on ESG? Is anyone invested here for the ESG metrics???

Yeah solid results. Can't deny I was a bit nervous given the suspension.

Yeah it's a pathetic number compared to what they should be buying back ByeHi. They could ask for more if they wanted.

They really should have maintained the previous level of buybacks. I don't care about the debt, they should be buying back every share they can at these levels. They could buy back 25% of the share count this year at current levels if management had some balls.

Completely unacceptable, I agree Debrug.

May just be valuation?

The customers are getting hammered with tax rises as well!

From the interim results there was an 18m increase in cash, 39m buybacks and 4m dividends so cash generation of 61m, hopefully the same in H2 gives us 120m, so a price/fcf of about 5, with finance costs dropping over time as the debt is paid off.

No doubt the business has been struggling a little, revenue down 3% in the interims, but it just needs to stabilise to create a lot of value at these levels. Even if it slowly shrinks as long as nothing catastrophic happens and they buy back enough shares it'll be fine.

Do you think it's too late to buy in here? Or is the growth going to continue?

It's funny how people can see the same thing and disagree, personally I think the problem is they haven't bought back enough shares, 10% a year doesn't make enough of a dent when sentiment is so low. Make it 20% or 25% and we'd soon see the share price shoot up, or I'll be the last shareholder in a few years, which would be even better.

It's genuinely a crazy undervaluation. The core business isn't great, I don't expect a lot of growth, but it is cash generative and margins are decent. The current valuation is a p/e of 5 and EV/EBITDA of 4 (and free cash flow is pretty close to EBITDA here). They could literally buy back every share at current valuations in 4 years and pay off their debt as well.

The main risk I see is that management use the cash for something stupid instead of just buying back all the shares.

I am a little annoyed that their current authority from the AGM is only for 11m shares. They should be asking for authority to buy back 25% of share capital at the next AGM or the entire BoD should be fired.

I agree Littleaston, the strangely imbalanced dividend doesn't help anything, they should just split it into equal quarters.

Oil prices looking weak I guess. Plus the company has had some issues over the last couple of years, so the market is in "prove it" mode. As long as management can deliver the expected growth and cash flows the share price will rise.

Like a yo-yo. Weird.