I will write the first Q2 performance summary in early July with some notable events since the start of the year within the portfolio. I have just updated the performance of the portfolio vs S&P500 and FTSE AIM All share and it stacks up favourably at 8% vs 4% and 6% respectively. Not a bad … Continue reading Portfolio performance →
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Mitie podcast uploaded
If you are thinking about adding Mitie as a holding, it might be worth doing so via the Marlow shares. Currently the value at which Marlow is trading at is below the 290p +1.1Mitie shares offer. This means that the share component of the offer is trading at about 10% discount(i.e Marlow is trading today … Continue reading Mitie podcast uploaded →
Mitie follow up
Having had a chance to review in details the analyst call(as well as the financial statements and results), I think the market has a)over reacted on the downside with the results and the acquisition b) the Marlow purchase seems to be at a good price(only 26% share premium to an already subdued Marlow share price … Continue reading Mitie follow up →
Cordel revenue miss
Very disappointing revenue miss from Cordel. While it is understandable that at this stage the contracts are quite lumpy relative to the overall figure, this is at least the second time management have rolled back on guidance which is not good news. The product is still a very attractive proposition to railways, but it would … Continue reading Cordel revenue miss →
Mitie FY25 results
Mitie announced reasonable results alongside an acquisition of Marlow(MRL) for £366m in a part cash(2/3), part shares(1/3) offer. The initial market reaction was quite disappointing with Mitie losing about £300m in market cap. I suspect the share reaction is a combination of the lack of clarity on the rationale for the acquisition and something within … Continue reading Mitie FY25 results →
Cordel Trading update
Positive update from Cordel, another excellent win with a reputable Class 1 US freight railroad for the AI technology offered by the company. Hopefully this provides additional assurances for other clients to jump on board imminently. In the current economic environment it is important to offer products which not only save you money but also … Continue reading Cordel Trading update →
Website updates progress
As I currently have a significant number of holdings which I have built over the years, it would take a while to upload podcasts and analysis on all of them. I will likely be uploading following an earnings announcement or a trading update for the companies which I hold but have yet to publish analysis … Continue reading Website updates progress →
Kinovo, potential takeover offer
Clearly the value of the business is being appreciated by third parties with the cash offer at 35% premium. Lets hope other suitors will step in and bring the offer closer to £1 per share(current cash offer from Sureserve is for 87.5p). I hope the podcast has helped some of you review Kinovo’s business in … Continue reading Kinovo, potential takeover offer →
Hilton Foods podcast added
A long term core holding of mine which is back to doing what it does best: operational excellence and automation. Who doesn’t need that? Worth a listen
New podcasts live
Investment case summaries for Kinovo, Billington and Touchstar have been added in addition to Cordel, Transense and Begbies.