Security Res. Share Discussion Threads

[stegrego] 21/2/2014 12:22

To be honest I'd taken this off my watchlist, so it only popped up as the thread re-appeared.....

I was quite surprised to see the price at near 30p.....

It is a gamble... - if property is doing well and they still have that cash - then this is a double from here quite easily.....

hmmmmmmmmmmmmmmmmmmmmmm

[glasshalfull] 21/2/2014 10:54

It's certainly interesting down here.

Steg - you've summed it up succinctly, Property Services is performing well and I'd envisage that the cash generated here will be used in developing the Audiotel products...while Packaging arm just rolls on.

Sub £6m cap or EV of £3m for c. £1m op profit is v cheap (that's if the cash balance remains around the £3m of course)

Any announcement of order wins by Audiotel will see these re-rate substantially.

Pay's yer money....

Regards,
GHF

[stegrego] 21/2/2014 08:17

Possibly so.

Seems to be in free fall at the mo though...

[arthur_lame_stocks] 21/2/2014 06:52

The cash fell so much because of working capital movements, unwinding the end of that large contract, it shouldn't be repeated.

[stegrego] 20/2/2014 23:48

Do they still have 3 million cash though as that decreased nearly 3 million in the first half.

Property part is probably doing well. Specialist elec probably not so well.

It could be cheap, it could be expensive, hard to say without any forecasts or trading updates.

[arthur_lame_stocks] 20/2/2014 22:55

These have fallen too far and look cheap to me. Net cash of £3m and a group of businesses making an operating profit of £1m per annum all for a market cap of £6.5m.

Very quiet thread on ADVFN and worth more like 50p a share now and more if specialist electronics delivers.

Anybody else think so?

[bubbleandleek] 24/7/2013 07:47

Well financed. Proven products and a well run business. All we need over the next 6/12 months is contract announcements. I think this is a decent play.

[skyracer] 22/7/2013 09:51

Thanks for the information ESWR. I have been expecting a fairly dismal second half, however if they have made some progress then SRG look good value albeit a little speculative. At 84p about half their market cap would be in cash.

[eswr] 19/7/2013 14:42

Results are out on Wed. I think that net current assets may be around £8 to 10m and cash balances (after the last tender offer) will have grown again. They have returned to shareholders through the tender offers I calculate around 70 pence CASH per share since August 2011. So they are definitely shareholder friendly. Audiotel should have had a good H2 because in their newsletter they say "has been extremely busy with March Madness and customers using the remainder of their budgets".

I think that this company will get taken out.

[spob] 20/2/2013 02:12

Any forecasts available here

also whats the likely net cash position here now ?

[jaws6] 07/2/2013 10:30

Any idea what was rec date for tender? any one.Tks

[naked trader] 07/2/2013 10:09

So little interest on here yet so cheap on the face of it. Tucked a few in to my SIPP today.

[stegrego] 15/11/2012 12:50

Great results, but of course all happening this year and little the next.
Huge amount of cash and 1 in 5 shares being bought back for 225p - almost 100% from today.

If they got any sort of size of new orders, it would be bargain of the century at this price.

[stegrego] 27/9/2012 20:52

PSG SOLUTIONS PLC

(`PSG' or the `Company')

Change of Name and Website

Following the passing of the resolutions at the Company's Annual General
Meeting on the 7 August, the Company has now formally changed its name to
Security Research Group Plc.

Dealings under the new name will commence at 8am on Tuesday 28 August 2012 when
the Company's TIDM (ticker symbol) will change from "PGS" to "SRG".

In addition the Company has updated its corporate website. To visit the updated
website, please go to

[clocktower] 11/8/2009 10:26

So the party is over here.

It will be missed Mac!!!

Well posted Des.

[deswalker] 11/8/2009 07:55

Recommended Offer at 62p by Adecco ...

[deswalker] 05/8/2009 15:09

Statement re possible cash offer :-)

[deswalker] 05/8/2009 15:02

Must be something in the pipeline ...

[clocktower] 05/8/2009 10:50

Looks exciting again, DW.

[deswalker] 05/8/2009 10:45

Hopefully something is happening here. Lots of volume yesterday and today. Results next week which won't be great. Does the City know something ?

[deswalker] 04/6/2009 10:22

Yes, I lost money on NRG. IMO this is much cheaper than NRG was back then due to its asset backing, size and better ownership structure.

As you say they probably need a fair bit of cash to support the working capital but nowhere near as much as is currently on the Balance Sheet IMO.

I'm attracted to recruiters again, particularly those with other offerings besides permanent recruitment such as temp recruitment (here) or offshoring (HVN). IMO it would be fantastic if they ever got together with HVN.

[harrogate] 04/6/2009 09:52

I have been looking. I would need to do some work but Debtors are so varaible in recruitment & seasonal it could be that the cash is actually not surplus and is needed at some times of the year - having said that it does look cheap

Didn't I see you on the NRG board?

[deswalker] 04/6/2009 09:49

I've bought a few here this morning. Below TBV, not far over NCA and very cash generative. Trading looks to be going fine and it has a clear path to growth in overseas markets.

The share price is being held back by the huge cash pile inflating the market cap but not contributing to earnings, thus it sits on a high PE. But if one works with numbers like EBITDA and EV then it looks very cheap. The dividend is miserly in the extreme.

It isn't an efficient way to run a company with this much net-cash. At some point the large shareholders should demand a cash return of at least £20mill. There would still be plenty of cash for growth but the PE and div yield would look more attractive as the share price dropped to compensate.

[clocktower] 22/4/2009 14:31

Still got plenty of headroom here with companies such a Aviva turning to Spring.