Titon Share Discussion Threads

[sonofbanjosinger] 19/5/2015 16:01

You can sell up to 30,000 at 76.4p but not sure on the buy side

[jay083] 19/5/2015 15:11

liquidity is an issue. h1 results announcement was an opportunity for those who may have been waiting to sell.....trading volumes now back to usual....

[red army] 19/5/2015 15:02

Or director buying

[rainmaker] 19/5/2015 14:22

IMHO purely on the basis of known facts, let alone definite prospects,way, way undervalued, we should be in three figures.Mystified why the share price hasn't continued to make further strong progress following the sharp rise with news of the results. The Company needs to launch a share buy back.

AIMHO, DYOR

[wad collector] 15/5/2015 14:42

Better than buying at 140 in 2003!

[sleepy] 13/5/2015 21:18

I remember selling at 140p in 2003

[jay083] 13/5/2015 14:53

a few thoughts....

PE = 7.27 assuming no H2 growth
EV/EBITDA = 3.672 assuming no H2 growth

Balance Sheet
Working Capital Surplus (6.756m) + Property, Plant and equipment (3.252) = 10m vs 8.2m mcap @78p

so probably trading at approx equal to wind-up value.


Gross Margin
H1 15 26.6%
H1 14 26.79%
FY14 27.67%
FY13 23.3%
FY12 19.8%

Seem to have held up after improving - I would expect this to suffer in the face of increased competition think it is worth watching going forward.

I think a lot of investors have been attracted as a value play - but after years holding steady this company is now growing...

[wad collector] 13/5/2015 10:03

New 8 year high (for those with long memories it was 144p in 2003).

[rainmaker] 13/5/2015 09:06

Hi Guys,outstanding set of results from Titon Holdings but even after todays rise, at the current offer price of 78p, we're only trading on a paltry 7.27 times historic earnings(earnings per share for the last six months were 4.59p, added to earnings of 6.13p in the previous six months).

We've had similiarly impressive results before and the share price has reacted strongly on the news then returned to sleep and even dropped on no news.Given Titon's derisory rating,strong trading performance and another large hike in the dividend,I believe this time the share price will continue rise and we will reach 100p relatively quickly.Coincidentally, for anyone following the chart, today we've broken out of a wedge formation with a count to that level. I really can't believe the share price will remain at these levels or thereabouts until the next set of results, it would be unthinkable.

For those not currently holding, I believe Titon offers a tremendous opportunity. The UK has returned to profit but we've only really scratched the surface of the recovery here, as trading activity has yet to return to levels prior to 2008. Added to this,I also believe there is a good chance that the UK manufacturing side will relocate overseas with huge cost savings.

AIMHO,DYOR

regards

[fozzie] 13/5/2015 08:51

I agree with you John, I am happy with the progress being made here.

[wad collector] 13/5/2015 08:50

Understatement is much more appealing ; very British. Happy to hold but not looking for more .

I see that the spread has narrowed ; the MMs look to be short of stock. Will we see a new high today?

[sailing john] 13/5/2015 08:44

Fozzie - You made me read it again without the rose tints

Same conclusion - slight warning on UK 2H but everything else positive

The numbers are certainly impressive vs 2014

Cracking balance sheet

And I like the fact that we are off radar

[sailing john] 13/5/2015 08:37

Battlebus - if you look in

Is this one I hold and You don't!!!! :-)

SJ

[fozzie] 13/5/2015 08:37

Accepting that it's always better to under promise and over deliver the narrative tone here is decidedly gloomy, he highlights the negatives but fails to accentuate the positive. A ltbh for me and tucked away safely in the bottom drawer.

[sailing john] 13/5/2015 08:33

Titon 1H TS summary

Market Cap £7.5m at 73p

Shareholder equity £10m+ with <£1m intangibles

Net cash £2.4m

1H PBT £0.8m +44%

1H EPS 4.6p vs 2.4p 2014 +90%

Interim divi 1.25p + 25%

Minor warning on UK 2H but everything else positive so I'm expecting 2H similar to 1H

Unable to add on the bell

dyor nai SJ

[sonofbanjosinger] 13/5/2015 07:32

Nice set of figures today. 25 percent increase in the divdend, increase in cash and a more positive outlook than last report.

[red army] 08/4/2015 13:23

Added today and my target £1.20

[wad collector] 08/4/2015 13:03

Yes thanks for that.
Building a bit of momentum today - are we going to break out of the 60-70 range again like this time last year?

[jay083] 07/4/2015 17:51

Hi sladdjo,
Thanks for the info - good to know...

[sladdjo] 07/4/2015 16:50

Hi Jay, as an FYI - director leaving the comp was flagged up during the AGM and they made a special effort to thank him for his work with the company. IIRC director mentioned that he wanted to start his own company (been something that he wanted to do for ages) and that there had been a transition process in place so shouldn't be any negative effects on the business. Said that he'd likely be at next year's AGM, as a shareholder, so people can ask him about his decision then if they'd like.

Didn't seem anything untoward as far as I could tell from the meeting, anouncement could have been a bit clearer but comp has been preparing for this forr a while.

[jay083] 02/4/2015 16:55

hard to tell with such an illiquid stock. must say that the director announcement was a little strange - the guy had been with the company for 42 years, why was it effective immediately - who is replacing him... has he left the co or just the board etc etc.

normally they give you a little more.

anyway probably nothing

[wad collector] 02/4/2015 16:15

Could just be noise , but it would be good to see a move back towards last years highs. The spread is still pretty wide.

[sonofbanjosinger] 02/4/2015 15:49

Titon perking up a bit today pehaps another buy back like last year only a month to the finals.

[sirhedgealot] 19/3/2015 16:05

If the discount becomes "much" wider I think it could be interesting.

[jay083] 19/3/2015 00:20

Rainmaker,
No, but given that last year they brought 50k shares at 53p gives some indication that they are prepared to enter the market when the price is weak. That was only £25k but that is quite a lot of volume for this and would easily take up the slack