Restore Share Discussion Threads

[irnbru2] 22/7/2015 11:04

Spoke too soon, down again.

[irnbru2] 22/7/2015 11:02

That's better.
I did not see why were so down on this news.
Now the jump.

[samenic] 22/7/2015 07:50

Well results ok but..
Volumes in Restore Scan, which primarily comprises the former Cintas scanning business and now represents around 10 per cent of Group turnover, were in line with expectations but significant technical problems on its major seasonal contract resulted in cost over-runs.

Anybody throw light on these 'technical problems' Are they ongoing?

[cwa1] 22/7/2015 07:49

Solid and satisfactory on the whole?

Trading Update

Restore plc, the UK office services provider ("Restore" or "the Group"), today issues a trading update for the six months ended 30 June 2015.

Trading in the first six months of 2015 was broadly in line with our expectations.

Our core records management business continued to perform steadily, with the integration of the Cintas activities acquired in October 2014 being the main focus during the period. Excluding Cintas, in the first six months annualised box growth exceeded expectations at 8%, with organic growth remaining strong. Following some rationalisation of smaller sites, capacity utilisation levels including Cintas are now moving above 90%. Volumes in Restore Scan, which primarily comprises the former Cintas scanning business and now represents around 10 per cent of Group turnover, were in line with expectations but significant technical problems on its major seasonal contract resulted in cost over-runs. Restore Shred traded satisfactorily.

Harrow Green, the UK office relocations market leader, performed in line with expectations and ended the first half strongly. The other parts of the Relocations division, Relocom and Restore IT Efficient, also performed satisfactorily. As previously announced, ITP Group, the UK's leading toner cartridge recycler, was acquired earlier this month and now forms part of this division, where it will work particularly closely with Restore IT Efficient, our IT recycling business.

The Group's Half Year results will be released on 15 September 2015.

[irnbru2] 13/7/2015 20:43

Charli and his m8s are loosing it.

They should concentrate on data storage, core, not printer cartrages.

[luckymouse] 11/7/2015 13:05

IrnBru - historic & forward

There was a trading update mid July last yr

[irnbru2] 07/7/2015 03:08

The money, is the advantage.

[irnbru2] 07/7/2015 02:48

Most deals are done, on the ratio.

Try to think.

[irnbru2] 07/7/2015 01:54

06/07/2015 11:34 ALNC - TAKING AIM: ITP Acquisition Looks Positive For Restore, N+1 Singer Says

Hi Irnbru - those charts simply show hist+fwd rev & eps going up nicely.
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Lucky, will have my advisers have a look.

Can you tell me what, "hist+fwd" is.

Also, while you are at it

Rev & esp.

[luckymouse] 06/7/2015 23:33

7/3/2015 N+1 Singer Boost Price Target Buy GBX 285 -> GBX 330

[gargleblaster] 06/7/2015 19:53

N+1 Singer reiterates buy rating and price target of 330p.

Interesting acquisition of ITP. Am prepared to give Skinner the benefit of doubt as he has proved to be a good steward of the company so far.

Cue half a dozen inane (filtered) posts from Irnbru telling me I'm wrong!!

[irnbru2] 06/7/2015 18:25

The total consideration for ITP is up to £4m on a cash-free debt-free basis. The initial consideration is £3.2m, funded from Restore’s existing bank facilities, with a further £0.4m payable after a six month handover period and an additional payment of up to £0.4m based on performance during that period. The multiple is therefore a rather modest 3.6x EBIT.
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funded from Restore’s existing bank facilities,

At last we are using our cash.

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rather modest 3.6x EBIT.

And at a good rate.

[irnbru2] 06/7/2015 18:11

It is taking too long, though.

Empty printer cartridges??

[luckymouse] 06/7/2015 17:13

Broker likes the acquisition

06/07/2015 11:34 ALNC - TAKING AIM: ITP Acquisition Looks Positive For Restore, N+1 Singer Says

Hi Irnbru - those charts simply show hist+fwd rev & eps going up nicely