Callun
25 Feb 2016
Re: Collapse Seadoc,Thanks for that.The whole tone of the results has changed from last year's. How convenient that the promise of significant growth boosyed the SPsufficient to trigger the equity release.Compare this offering from Paul Swinney this year:"We are pleased to report strong half-on-half profits growth, which has translated into an increase in cash and a substantial increase in the interim dividend. Overseas sales accounted for 36% of total revenue and increased by 20% during the period. Our international expansion continues with many regulatory approvals awaited, not only in healthcare markets in which we already sell, but also in countries in which we have no presence. This includes the United States."Two products have been selected for our approach to the US market, and we are in dialogue with the FDA in preparation for a full regulatory approval submission during 2016."..with the2014 half year statementTristel has enjoyed another strong performance during the first half. Encouragingly, this has come from all areas of the business, both in the UK and overseas. Our operations in Germany, China and Hong Kong, and Australasia, where we have our own people on the ground, are developing particularly well."The balance sheet and cash flow are very sound and we are well placed to continue the growth of our business."The SP has continued its steep fall today, presently 95p to sell.Callun
seadoc
24 Feb 2016
Re: Collapse Callun,Here is one of the sellers, and his take on it:[link] webinar may be interesting if you want to register:[link]
Callun
24 Feb 2016
Collapse The share price has now fallen over 25% today on these results. Questions should be asked of the board regarding their failure to disclose information likely to adversely affect the SP back in January when this cost was triggered, IMHO.
Callun
24 Feb 2016
Re: H1 Share Based Payments... Non cash item, one off exceptionals, dilution; all of these have a habit of being repeated and becoming the norm to the detrement of shareholder value.Ironic that the share based payments was triggered by the share price reaching and staying at or above £1.34 for a period of thirty consecutive dealing days, and now it's tumbled to the 125p area. Also, within a week of the trigger date (6th Jan) the SP dived to less than 120p. Still a respectable price for long term holders, but a bit suspicious for my liking.
winningstreak
24 Feb 2016
Re: H1 Share Based Payments... Options being exercised generally translates into more share in issue.My concern with TSTL is that the company allocates options too generouslyfor the size of company it is.IMHO,ws
AndyRB
24 Feb 2016
Re: H1 Share Based Payments... They still generated £1.4 million cash in the six months and upped the divi . They say the share based payments are a non cash item , I guess options being exercised just means more shares being issued.Anybody else got a take on this?
Callun
24 Feb 2016
Re: H1 Share Based Payments... It would seem that you are not alone in being unsettled. The market has responded to these results with a significant drop in the sp (down 14% at present and still falling). The tone of the report is far less upbeat than previous ones, and the sp had been propped up by expectations of continued strong growth. I get the feeling that further growth will be significantly slower.I had become accustomed to this management being open and achieving promised goals and feel rather let down here. With Soler leaving the chair in the near future the whole lot could come apart. Really wish I had sold yesterday. Greed again.
winningstreak
24 Feb 2016
H1 Share Based Payments... Share Based Payments of £1m wiped out two-thirds of Profits.Whichever way that is painted, I find that a huge impact andrather unsettling. ws
II Editor
18 Dec 2015
NEW ARTICLE: Tristel: Would you buy now? "Tristel: Would you buy now?Deciding whether to sell shares is difficult. One way is to turn the question on its head and ask: Would you buy now? I received some challenging tweets following my write up of the Tristel AGM, particularly ..."[link]
II Editor
16 Dec 2015
NEW ARTICLE: Tristel AGM: Breakthrough products and untapped markets "A trip to Newmarket yesterday reveals breakthrough products, untapped markets, plenty of answers and even more questions about how much it’s all worth.So this is what it’s like to own a growth stock. It’s the morning of the Annual General ..."[link]
Callun
25 Nov 2015
Re: III article Darn! There's been no market weakness to buy into. SP defying gravity at the moment in a generally declining market. Great little company.
II Editor
16 Oct 2015
NEW ARTICLE: Tristel: From recovery to global growth "Tristel has reinvented itself, profitability has recovered, and the infection control specialist is going for global growth. Management and investors are united in their belief.In full year results to 30 June 2015, Tristel lifted revenue ..."[link]
Callun
16 Oct 2015
Re: III article This is one of the few companies where management actually do what they say they will, and include the shareholder in the rewareds. When they came to market they started to pay dividends, remarked on at the time as unusual for a small cap company. When their market collapsed they had the insight and will to create new products and markets, and here we are today with a very credable company, IMHO.If Paul Swinney believes there is further growth in the near term I expect it to happen. Firm hold for me over the long term, though valuation is a little high to increase. Will buy on market wekness.
nk1999
15 Oct 2015
III article "..... A share price of 116p values the enterprise at £45m, about 22 times adjusted earnings in 2015. The earnings yield is 4%.A valuation this high implies investors believe Tristel will meet its targets. As the rationale for owning the shares shifts from the present, to the future, how much we think the company will earn, attention must shift to Tristel’s competitive advantage, and whether it is likely that growth will be sustained......"[link]
II Editor
12 Oct 2015
NEW ARTICLE: Tristel up 10% as upgrades keep coming "Last year, we wrote that LSE:TSTL:Tristel was in the midst of a profits upgrade cycle. Hospitals, laboratories and vet surgeries were snapping up its disinfectants, and earnings were growing fast. Despite having risen 60% in three months, we ..."[link]
