Scarmonger
25 Nov 2016
Re: Sold out I am pleased for you I only found out about takeover today did not follow avesco over the years and had no shares however I met mr r murray at agm mid 1990s and very pleased for him still in img plc myself a nightmare
Greyinvestor
18 Nov 2016
Sold out Sold out of AVS. Lovely to get 3* my initial investment......now searching for a new home for the investment.....
casabanker
17 Nov 2016
Re: Takeover bid What a welcome surprise after a week and a half of losses on my folio. I was that fed up, I didn't look at the close of play until just now. The rather sketchy details can be found ine the "news" tab above.Casa.
Gus1065
17 Nov 2016
Re: Takeover bid Details here if you've not seen them yet.[link] cash, recommended with 58% acceptances in the bag. Done deal.Gus.
bare faced liar
17 Nov 2016
Re: Takeover bid I recently sold half of mine!!Where are the details of the bid?
Greyinvestor
17 Nov 2016
Takeover bid A simply huge takeover bid for AVS, why didn't I buy more??!!
Greyinvestor
30 Sep 2016
Disposal To my mind the interesting thing is what this illustrates about management, namely a continued focus on strengthening the balance sheet and the P&L.Shares now up 50% since my purchase in May, a terrific run. Well done AVS for concentrating on creating a leaner and better business with a sound balance sheet.The business still seems reasonably priced..........
casabanker
30 Sep 2016
Presteigne sold Presteigne has been sold off the a private equity company and managed by current personnel. This is good news for AVS as Presteigne has been loss making and has debt. AVS management can now concentrate on its core highly profitable business.Casa.
Sambram
07 Sep 2016
Re: Trading update "Avesco shares enjoyed a welcome lift on the trading update... given the group’s progress to date, we believe that there is still momentum to the valuation yet to emerge. Avesco’s debt profile has been transformed by the sale of land and buildings in Wembley (Fountain TV), which has reduced net gearing to a low level. The group continues to focus on operational improvement/streamlining to minimise the annual swing in profitability, which traditionally characterised group earnings and depressed the rating. Sustaining dividend growth is also a key management focus. Thus with Creative Technology’s underlying profit now approaching £10m, the question will increasingly become by how much does the share price potentially undervalue the group’s operations? Admittedly, reported profit for 2016 will be flattered by asset disposal gains, which add £8.7m to underlying PBT, and FX will help the year-end NAV (H1: 230p), but as investors become more comfortable with Creative Technologies’ earnings quality, we believe that the scope exists for the shares to attract a more generous earnings multiple."finnCap update on Research Tree
Greyinvestor
01 Sep 2016
Trading update Cracking little trading update today, it's looking good.......
casabanker
23 Jun 2016
Re: Too good to be true? Hello Blanketstacker,It seems the key quality to have when holding small caps is definitely patience. The one thing that all of the small caps I hold have in common is a strong balance sheet. Having some yield helps. particularly if the stock is a slow burner such as NXR. AVS should do well over time. In the short term, if the UK exits the EU, some of the pundits think there will be run on the GBP. I guess very few stocks will do well if that happens.I agree that LAKE is somewhat dodgy but, in spite of the debacle and public fallout of the board, it is paying an interim dividend of 1p and looking to pay a final one of 1.8 to 2p. The boardroom difficulties have been sorted out and, providing there are no more profit warnings, recovery should ensue.Casa.
Blanketstacker
22 Jun 2016
Re: Too good to be true? I am in here too, having bought just after the half-yearly report. It may also be being held back a wee bit by the fact that the mclcreate division has performed poorly, and the fall in profits. I think these are minor factors. Assets are set at 230 a share, so we should be onto a good thing! You have a good spread there Casa. Paul Scott remains keen, and it was one of his 'nap' suggestions for this year.LAKE I am giving a wide berth, as it is too dependent on lacl government spending. If you fancy some real tiddlers, I like AEO, FLK, and REC for well-covered dividends. Having said that, they are so small they could well sink without trace.
casabanker
21 Jun 2016
Too good to be true? I have also bought some today at just under 210. I think the only reason AVS hasn't risen quickly and stayed higher is that it's only a small cap and suffering from low visibility. Investors are also sitting on their hands until after the referendum particularly for small caps.This will be another small cap in my portfolio waiting to blossom like SAL, AXS, MTEC, LAKE, WTM, AIR and ALY. Quite a list. NXR seems to be coming out of its shell though.Casa.
MrMeerkat
13 Jun 2016
Re: Undervalued I also bought some this morning at 208 after digesting the results and commentaries over the weekend. I look forward to getting to know them better over coming monthsMM
Greyinvestor
09 Jun 2016
Undervalued I've added to my already decent sized holding today. I'm simply baffled by the share price.Downsides; the business is a low margin, bumpy and cyclical business.Upsides; management have a lot of skin in the game, the balance sheet is rock solid, and the P/E is crazily low.Just takea quick look at the figures.From my notes Current assets minus all liabilities = (£13m). But there are then a solid £53m of assets, leaving a £40m surplus. This is about the value of the company.Revenues are about £73m for a half year, and profits about £4.6m.So in a full year you could get a PBT around £8m, post a reduced interest charge. Or have I got this totally wrong? Current forecasts are way below this.The whole company is only valued at around £40m.In my view this is a steal. If I worked in private equity or at Crystal Amber, it would be on my radar........
