Restore Share Discussion Threads

[m.t.glass] 15/9/2015 09:13

Restore Underlying Profit Surges On Acquisition-Driven Revenue Rise
Tue, 15th Sep 2015 07:40

LONDON (Alliance News) - Office services provider Restore PLC on Tuesday said its pretax profit was slightly lower due to acquisition and restructuring costs, but its underlying profit surged higher in line with its revenue and it hiked its interim dividend on confidence its robust performance will continue in the second half.

Restore, which provides document management and office relocation services, said its pretax profit in the six months to the end of June was GBP2.9 million, down from GBP3.3 million a year earlier as the group booked exceptional costs related to acquisitions and redundancies, plus a provision booked against a major contract in its scanning arm which was hit by technical problems.

Stripping out these one-off costs, however, Restore said its adjusted pretax profit was up to GBP7.1 million from GBP5.0 million, driven by a 43% rise in revenue to GBP43.9 million from GBP30.6 million a year earlier.

Revenue in the group's document management business was up by 73% in the half, thanks primarily to the acquisition of Cintas, while relocations revenue rose 11%.

The group said trading in the second half has started well and said it anticipates meeting its expectations for the full year. That prompted it to hike its interim dividend to 1.0 pence per share, up from 0.8p last year.

"We continued to make good operational and financial progress in the first half with records management, the key driver of group performance, benefiting from strong organic box growth and the on-schedule integration of the Cintas business acquired last year. Our relocations division traded well in what is traditionally its seasonally weaker first half, and continued to benefit from improved operational efficiencies and the expansion of our service offering," said Chief Executive Charles Skinner.

By Sam Unsted; Alliance news, via LSE.

[11_percent] 15/9/2015 08:33

I don't think the results are good, they are brilliant.

We even get a 25% increase in divi.

Time to buy a few more, on the assumption that the share price Is going to get on track.

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Anyone know how IronMountain takeover of Recall is going. I assume it is off, as the IM share price is low.

[m.t.glass] 15/9/2015 08:24

The downward slide from the big double top failed to go beneath the 234ish interim low - which is good, bouncing twice off 238ish last month.

(I don't have access to detailed charts this morning, hence the 'ishes' !)

[11_percent] 15/9/2015 08:13

So, is that a double bottom, since March.

[11_percent] 15/9/2015 08:11

Yes.......up 7p.

[m.t.glass] 15/9/2015 08:10

Trades in the first 10 minutes all look like buys..

[m.t.glass] 15/9/2015 08:04

And decent results they are. I've not seen any media coverage yet.

[gswredland] 14/9/2015 17:59

Typical mm behaviour!
Fingers crossed for some decent results tomorrow.

[luckymouse] 14/9/2015 17:45

Volume 0.07M
AvgVol 0.14M

That's MMs f about

[rogers8] 14/9/2015 16:38

Half year results are published tomorrow.

[jopper74] 14/9/2015 16:21

wtf????? that's some drop

[11_percent] 09/9/2015 16:46

No, not that high, but they won't run that scam a third time.

[gucci] 04/9/2015 10:00

Heading back to 300p

[luckymouse] 03/9/2015 20:02

Pretty chart - someones just piled in with a classic corner trade

[rogers8] 02/9/2015 11:51

Big buys today. Looks like someone has faith in the numbers soon to be published.

[gargleblaster] 27/8/2015 14:59

LM- this is at a competitive valuation imv - 15X fwd earnings and fwd PEG of 0.76. A lot of mom & pop businesses available to be swept up in this space and as you say they seem to do it well (barring the problems with Cintas - which are apparently resolved). Figs due 10th Sept.

[luckymouse] 27/8/2015 14:25

Support here

[luckymouse] 22/8/2015 15:11

a lot of good stuff was flat thro much of 2014 - it just wouldn't go even if quality - and a lot of stuff is off/sideways since may this yr - so mr mkt can be like that I guess - external risks can delay a rise for quite a few mths

If you look thro the all share the number of smooth up trenders greatly diminishes during mkt risk off periods like now - you have to be all over it to stay on the ever shrinking number of smooth momo plays. At the nadir of a sharp downturn there will be only a few left - then it turns.

Stk wise this & other growth small caps have held reasonably well during recent mkt sell off - others have been slaughtered remember - this is at a spt lvl. Slater likes it - if you were being super picky you could say that organic growth is more popular than acquisitive because you have to work through an integration period and take some exceptionals - but this lot are pretty good at it - its what they do!

[luckymouse] 21/8/2015 22:34

dow dropped 530 pts today - mkts generally risk off perhaps?

[11_percent] 21/8/2015 20:07

Anyone any idea, why this has stalled.

Not a trick question.

[11_percent] 21/8/2015 20:04

essential,

Can you post the link to the Slater write up.

It has tried to go down Twice.

Not happened, what can not go down, must go up.

It is on the down, ATM.

If it bounces, for a third time, I will buy.