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TFW smilingmickey1
23 Sep 2015
Latest results Latest results suggest Thorpe might be on a bit of a roll.Benefits of the purchase of the Belgian subsidiary will only come through fully in the next results and could add nearly £1m to the bottom line.They generated almost enough cash last year to pay for the acquisition, support increased sales with increased working capital (stock and increase in payments due) whilst supporting the business with strong capex and hiking the dividend. If there is no further acquisition next year there should be an even big cash pile!
CRND citychap2011
23 Sep 2015
Stalling technical analysis Hi Romeo. You really don't seem to have a grip on reality. I don't live Manchester and I'm not a real estate agent. Your posts are becoming as fictitious as your charting.I have a number of other investments that I'm not concerned about as I am invested for the long term. A number of these are in profit. Thanks for your concern all the same. RE: Noricum I am merely highlighting the BOD's failings. There is no desperation. I have a very small shareholding.Why are you so interested in Noricum Gold anyway?I see you haven't addressed the main point of my post, which is what has happened to your Technical Analysis? I'm looking forward to an update.
WAND paccamac
23 Sep 2015
Who needs a Chinese fraud.... ...when you can lose all your cash by investing in WanDisco?Another 6 months and another $18M loss. 6 months of cash left. Another mammoth fund raise on the horizon just to stay afloat.Big data revenue just $0.8M. Big Dodo more like.Everything I said in the past about this company holds true. A steaming pile of hype that continues to burn cash like it 1997.
MIRL JohnyCash
23 Sep 2015
Re: AIM suspension Latest RNS:Minera IRL has started the process of dismissing Diego Benavides, the former interim CEO of the Company, from his role as President and General Manager of its two Peruvian operating subsidiaries, Minera IRL S.A. and Compania Minera Kuri Kullu S.A. Further, on the advice of Peruvian counsel, criminal proceedings against Benavides have commenced >>>>>>>>>>
KBT r21442
23 Sep 2015
IC running profits K3 on a roll Aim-traded retail software company K3 Business Technology (KBT: 298p), the Salford-based supplier of software to the retail, manufacturing and logistics sectors and provider of managed IT and web hosting services, has smashed my 275p target price. I initiated coverage exactly a year ago when the price was 220p ('Tapping into retail growth', 16 Sep 2014), and last advised running profits at 275p (‘Hitting the right numbers’, 30 July 2015).It's easy to understand why investors are warming to a company that is not only generating decent profit growth - adjusted pre-tax profit rose by 9 per cent to £7.2m on revenues up 16 per cent to £83m in the 12 months to end June 2015 - but prospects are increasingly positive. Revenue from K3's own IP software is growing strongly, the company has been recognised by Microsoft as a leading partner for the fashion retail sector, and K3 has recently become a member of Microsoft's inner circle of Dynamics partners. This should provide a step change in licence sales and size as Oxfordshire-based K3's core business offering is a Microsoft Dynamics-based range of retail software that provides a single platform for the entire business. Last year, K3's sales of Microsoft Dynamics-based software products rose by more than half to £7.4m, representing 9 per cent of its revenues.Furthermore, the company has just announced a major contract win for its "ax l is fashion" solution with Munich-based TriStyle Mode GmbH, a leading European mail-order fashion retailer. The order has been secured through K3's channel partner in Germany and is its first order though a global systems integrator, the largest order secured to date through K3's channel partner network, and is the first win in Germany, the largest market for fashion in Europe. The expansion of K3's third-party sales network has been a key focus for the company over the past 12-18 months and is a significant part of the growth strategy. It's worth flagging up that sales and profit growth is also being underpinned by licence fee renewals, support contracts and hosting income; an increasing focus on K3's own IP, which is boosting higher-margin recurring revenues; and a focus on growing the SYSPRO and Sage businesses and selling hosting services to a larger proportion of its customers. This strategy is clearly working as the retail business had a pipeline worth £32m at the end of June and the manufacturing and distribution software business had just shy of £30m-worth of new deals in the pipeline. It's also the reason why analysts at broking house FinnCap expect revenues to rise by around 8 per cent to £90m in the 12 months to end-June 2016 to drive up both pre-tax profits and EPS by a third to £9.7m and 25.3p, respectively. This means that K3's shares are trading on 12 times fiscal 2016 earnings estimates, a three-point rating discount to the average earnings multiple for the small-cap UK software and IT service sector. Importantly, the company is well funded to achieve the step change in sales as year-end net debt of £12.1m, better than analysts had expected, represents less than a quarter of shareholders' funds. In turn, the combination of rising profits and falling debt offers scope for another double-digit increase in the dividend following the 20 per cent hike to 1.5p a share in the full-year results.In the circumstances, I would run your healthy profits as there is a decent chance the shares could run up to analysts' upgraded target prices. Edison Investment Research has fair value of 355p (up from 289p previously), and FinnCap raised its target price from 330p to 380p. Run profits.
KBC r21442
23 Sep 2015
IC still buying Aim-traded KBC Advanced Technologies (KBC:112p), a consultancy and leading software provider to the global hydrocarbon processing industry, continues to buck the downturn in the energy sector and is set to continue to do so.In the first half of this year, the company's pre-tax profits edged up 3 per cent to £4.2m on a 5 per cent rise in revenues to £36.2m, a rare performance indeed for a business operating in an industry that has seen a savage downturn in the past 12 months. True, cost cutting has played its part as KBC's board took the decision to take overheads out of the business to align the cost base given the challenging market environment. Headcount was cut by 10 per cent in the half-year, including the closure of the company's New Jersey office, at a cost of £800,000. These measures are expected to generate annual cost savings of £3.5m, the full benefit of which will be seen in the second half.But this is far more than a cost-cutting story as 85 per cent of KBC's revenues are derived from oil refiners, the part of the industry that has been doing remarkably well, whereas it has been the upstream segment that has seen the savage cost-cutting and project deferrals. Indeed, the combination of a plunging oil price and rising output has sent US Gulf Coast crack spreads to five-year highs, a sign of refiners' profitability, which has enabled KBC to increase its own pricing on some contracts. Moreover, given that KBC's smart software and consultancy activities optimise performance and profitability for cost-conscious clients, demand is well underpinned. In fact, the order book was up 17 per cent to £74m in the six-month period and since then KBC has won two important contracts, a three-year award worth $8.5m (£5.5m) with a Middle Eastern client for margin improvement and workforce capability development across three refineries, and its largest award ever in the Former Soviet Union.It's worth noting that half the order book results from a four-year contract worth $100m (£64.5m) with Ecuador national oil company EP Petroecuador. This alone accounted for £13m of KBC's first-half revenue of £36m and offers solid visibility on future revenues. It also explains why trade receivables spiked from £30m to £43m year on year. However, I understand that all the December receivables from EP Petroecuador and other clients have been collected, in addition to a further £6m of receivables since the June half-year-end. As a result, KBC's net funds of £10.6m are set to rise to somewhere between £13.2m and £14.7m by the year-end, according to finance director Eric Dodd. That's important as running a strong balance sheet is enabling KBC to tender for further multi-million-dollar contracts without stretching its finances.The bottom line is that KBC is bang on track to deliver the 10 per cent rise in pre-tax profits to £10.5m as predicted by analysts and reward shareholders with a 9 per cent hike in the dividend per share to 1.2p. So after stripping out net funds from its market value of £91m, in effect the equity is being valued on around seven times underlying operating profit estimates. That's hardly a punchy valuation for a company with a high-margin technology business that makes around £7.4m of operating profit on turnover of £21m and could be easily worth £60m on a standalone basis. So having advised buying KBC's shares at 69p ('Fuelled for growth', 5 May 2013), reiterated the investment case at 110p (‘Riding an earnings upgrade cycle’, 18 June 2015) and at 123p (‘Fuelled for strong growth’, 12 August 2015), I believe a return to the 142p highs dating back to June 2014 is a reasonable target. On a bid-offer spread of 111p-112p, I rate KBC's shares a buy.
HFEL Fabius1
23 Sep 2015
Re: Second Leg down? TSMy own view is that we are in the process of a necessary cyclical 'reset' to bring valuations into line for the next growth cycle. So, plenty of pruning left before the next phase. F1
PAR SalopTractor
23 Sep 2015
i have sent an email to Simon 2 days ago - no reply. I might contact the NOMAD
SGI TX2
23 Sep 2015
Re: Inventory SGI has tangible assets,mainly stock,which has a book value which equates to a value of just under £1 per share.In addition it has brand names in particular Stanley Gibbons which should have a reasonable value.This should give some "comfort".I think Investors Chronicle a few years ago put forward the idea,and others have followed, that because SGI works on high margins,typically it probably marks up its stock by 100% plus,it has a lot of hidden profit in its stock because eventually the £50m of stock it holds will sell for well over £100m.This is flawed thinking because although it is true it will eventually get this GROSS margin on sale;the company has to work very hard,employ 250 people,spend lots of dosh on marketing,expensive premises etc etc to shift the stock and at the end of the day it is lucky to make 20% NET margins on sales and thats before the "exceptional" costs that in recent years seem to occur,reducing the actual net margins after all costs to nearer 10%.It cant just go out and cash in its stock at a premium.SGI is running two quite distinct businesses in the same field.A very up market stamp investment business that is selling big ticket items or collections to a tiny number of punters who might spend £1m plus;but you are in competition with other alternative investments Classic Ferraris,Villa in South of France,Old Masters,Young Mistresses(!)......and on the other side it is selling relatively modest price collectibles to a much wider market;but ebay and the internet generally has bought a lot of competition.It is easier for smaller dealers to compete and people to trade with each other.Business is hard work in all areas.SGI is an interesting business.I was a shareholder shortly after it came to market,did quite well albeit not at the price it reached recently and was a shareholder in Mallett the up market antique dealer for about 15 years until bought by SGI(Just about the only time Malletts made a decent profit and returned cash was when it sold a couple of its properties).I feel SGI is worth about 10 or 12 times its net earnings and would be interested in buying but at the moment it is difficult to see what its earnings potential is.Like to be proved wrong for the sake of existing holders but it does not presently look a screaming bargain at the present price let alone £3+.
PAR freefall1414
23 Sep 2015
Re: PAR Stream Log Salop, biggunz. We need to demand answers. We cant go on like this!! we arent gonna get a return, we are all going to lose money!!, if we even manage a relist.. The shareprice pre suspension was too low, thanks again to Simon Hunt allowing darwin to short sell. He is hopeless!
EGS II Editor
23 Sep 2015
NEW ARTICLE: New products a springboard to profits at eg Solutions "Tonight, investors will pack into floor 69 of The Shard not just for the champagne and canapés, but also to test the two new and eagerly-anticipated products from AIM-listed LSE:EGS:eg Solutions. The event rounds off a day when the back office ..."[link]
BVXP MrMeerkat
23 Sep 2015
Bought Today I've been following BVXP for a few months having read Keith A-L's very positive article, and Paul Scott on Stockopedia also appears to rate them highly. Sadly I didn't buy before the results earlier in the month but have started today at 1112. While they dropped very marginally with the current market correction, I don't think they'll go lower (barring bad news) so now is as good a moment as any. Time, not timing, is a good maxim to follow anyway and I hope BVXP lives up to its reputation.MM
LGO moving up. huge reserves with production of 1500bopd. cost is only $10per barrel (oil price now $45) no wonder it was 4p not so long ago. do the calculation and see how much LGO worth
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