CASTLEFORD TIGER
24 Nov 2015
Well how long before Mr Bragg buys again.The shares are trading on 3x my forecast earnings for the next full year.Backed by good strong assets...............some micro fund will pick this up.Tiger
skidog
02 Nov 2015
Re: I agree - too cheap I used a number that was less bullish than that, I have been looking for my calcs (a bit 'back of an envelope') but can't find them. If I have time then I will re rerun them. As another poster says the pension deficit is a downer but really only for a perspective buyer I think, and if it was a large multi then this would be hoovered up into their large deficit....there is I am sure a provision set up to alleviate the shortfall, my accounting knowledge on this is scratchy at best.Lets hope we have a good Christmas dc
TX2
31 Oct 2015
Re: I agree - too cheap From memory the share consolidation in I think 2009 was designed to remove very small holders because I seem to recall that each of the 35m or whatever old shares were first consolidated into a larger share before being split again into the approx(then) 5m present shares.Tandems 2 historic defined benefit pension plans which have no active members and cost a fair amount to finance do put a bit of a dampener on the value of the company.Although even taking this into account it remains inexpensive.
CASTLEFORD TIGER
30 Oct 2015
Re: I agree - too cheap Share register shows many have gone.............did you check out my forecast EPS 60P pre exc items...for full year with the new companies.best tiger
skidog
30 Oct 2015
I agree - too cheap I have run some of my own basic calculations and think that even given a small rise in earnings with the same P/E we should be around 2.99 but with a more realistic 8 then price should be closer to 4 or aboveI just think there are too many small ex MV holders around with a few shares that have written that investment off long ago, and don't actually check in on this anymore, hence the lack of liquidity.I am looking forward to the next trading update, I have taken my off this ball recently but feel like I want to get involved again.dc
CASTLEFORD TIGER
29 Oct 2015
2.00 barrier gone Still way too cheap.Everything is costing less this year.Should be a bumper year.Tiger
CASTLEFORD TIGER
09 Oct 2015
The numbers we made 170k first half 2014 and finished the year at 1.2 million.pro rider added maybe 1/3rd of a year so 100k to the above.Current yearfirst half 700k and I think second half should be 1.4 million ( possibly as high as 1.6)This will have the full year of pro rider in.Bring on 2016 when we have to add in another 800k ( without any cost savings)So 2.9 to 3.1 million is my forecast for next full year.Bring into the equation reductions in cost prices and lower fuel and possible synergies then who knows where we may get to.With 4.78 million shares issued I estimate EPS 60/65p RANGE .Clearly valuing this business at 3x earnings is wrong.The market will catch up but the shares are hard to buy and the market makers need to push up the price to flush out some stock.Anyone see it differently?Tiger
CASTLEFORD TIGER
09 Oct 2015
better day buying good start a 5k block.Yesterday was a struggle...........want more if anyone wants to selltiger
KEEPING CALM MIKE
08 Oct 2015
Re: just gets better Wow what a great deal, this could be a real gem even a p/e of say 5 could double this stock in the next couple of years . I am riding my Tandem for a long long ride !!! Well done Tiger , Top Man . K.C.M.
CASTLEFORD TIGER
08 Oct 2015
just gets better we paid 2.1 million + 330 k + up to 750 K that's 3.15 million for1.8 million of assets so paid net 1.35 million for a company making 800k a year.Which ever way its looked at its very cheap and should get Tandem to earnings per share of 60p in a full year.Tiger
CASTLEFORD TIGER
29 Sep 2015
Results As per normal we talk the job down.This year we have no exc items so we throw in 315k of which 230 k and possibly it all will come back in the second half.PBT was 659 k v 99k last year............now that looks a great deal better.Clearly that's before underlying which added to last year and deducts from this year.EPS at 7.6p came based on the 355 profit but my calculation is EPS of 14.5p.Clearly the company should make 30p eps this year maybe as high as 40p a share.The shares look seriously undervalued.As for the DIRECTORS well getting to speak to them is impossible.Think its time I got more involved.Tiger
CASTLEFORD TIGER
18 Aug 2015
Half year numbers Results out in a month but I see it like thisRevenue up to 15.4 million from 13.7 based on their figures.So how will that transfer to bottom line?We should be between 200/500k net for first half.The overall year should be close to last years even with that exc gain in there.The shares under 250p look far too cheap.Tiger
CASTLEFORD TIGER
24 Jun 2015
1000 more at 185p that's all this morningtiger
CASTLEFORD TIGER
23 Jun 2015
Re: managed to buy a few GOT A FURTHER 1000 later. Impossible to buy.If they put the price up it may force a few sellers.tiger
KEEPING CALM MIKE
23 Jun 2015
Re: sneaked in for a few more late today Nice call
