Touchstar Share Discussion Threads

[hastings] 05/1/2017 08:12

Disappointing and frustrating but holding.

[cocker] 05/1/2017 08:10

Welcome to the dark side Mickey.

[spooky] 05/1/2017 07:57

Glasshalfull, thanks for the update.

[glasshalfull] 05/1/2017 07:54

Disappointing and looks like an element of clearing the decks for 2017.

WH Ireland have rebased to 6.6p EPS for year gone, with 12.6p EPS remaining on the cards for this year.

"The impact on 2016 forecasts is as follows: we lower our previous £8.7m revenue forecast by £1m to £7.7m which results in a reduction in PBT from £450k to £215k. Touchstar continues to benefit from a favourable tax regime in relation to R&D credits, hence the downgrade to the EPS is less pronounced with our new forecast of 6.6p (from 10.3p). All forecasts for 2017 remain unchanged.

Although disappointing, a great deal is going on at Touchstar, not least better integration of the underlying businesses all under the one brand. This should ultimately drive profit growth over the medium term. Recognising the disappointment from today’s update, however, we move to a Market Perform recommendation.

Our new 101p price target represents a cautious 8x current year (2017) P/E."

Kind regards
GHF

[michaelmouse] 05/1/2017 07:42

Interim results were good, but I was put off by the balance sheet and Ian Martin's reminder of the competitive nature of this market. Consequently I was never tempted back in.

Sadly it reminds me of the Warren Buffet quote:-

"When a management with a reputation for brilliance tackles a business with a reputation for bad economics, it is the reputation of the business that remains intact."

Good luck if you believe Martin can turn it around though.

[rivaldo] 05/1/2017 07:25

TST/BVM never fails to disappoint :o((



Given the illiquidity no doubt there will be a large markdown. The crumbs of comfort are that:

(a) H2 was still breakeven, not lossmaking, so there will still be a £0.3m PBT for the year
(b) orders were only deferred, not cancelled, so 2017 should benefit from the deferrals
(c) similarly, the bad debt is a one-off

With the progress that's been made I'm happy to hold as TST is transformed - there doesn't seem to be anything fundamentally wrong other than still being a small enough company that it remains vulnerable to certain order deferrals.

[rivaldo] 03/1/2017 09:11

RNS - Spreadex go above 3%. Looks like one or more of their clients have been busily buying via spreadbet/CFD....

[davidosh] 23/12/2016 18:46

Indeed I was one of the early Belgravium holders back on the BVM thread years ago when holders seemed to get more and more frustrated with JK and at one point I expected shareholder activism to play a role but fortunately Ian Martin came to the rescue it seems.

[fillipe] 23/12/2016 11:37

Loving it, now that at last I'm holding above my original Belgravium cost.

f

[pavey ark] 23/12/2016 10:29

Windy and horrible morning so I spent some time with the recent results.
(As a background I did at one time hold 1% of BVM (clogue to longer term posters) but have reduced substantially since then. I do remember buying a considerable number of shares at 2p(32p) but that was eight years ago so that hardly makes me Warren Buffett.
I still hold enough to make me pay attention but I've been distracted and only looked in now and then.)

I must say that the recent results were very solid and the cash being generated is quite substantial for a company this size.Without a considerable reduction in trade and payables these results would look even better but bills have to be paid and inventory was reduced and receivables fell but overall this was a very solid performance.

The second half is always better here.

The really good news for me is that the share price is now higher than that paid to Kembery (5p:80p)and nice to see the new guy in profit but I suspect he has higher and longer term ambitions here.

My first instinct this morning was that things were getting ahead of themselves here but on closer examination I certainly don't consider that to be the case.

[pavey ark] 23/12/2016 10:29

Double post.

[ny boy] 23/12/2016 10:21

In this one and another growth story over at (EVRH)

[aishah] 22/12/2016 23:53

Wonder if Techinvest or SCSW will tip TST in their New Year Naps

[mr hangman] 22/12/2016 16:34

Will CRAW be attending the next Mello event ?

[cockerhoop] 22/12/2016 16:32

David,

I hold both RNWH & TST so would love to be 'on the guestlist' for any presentation.

Many thanks

[glaws2] 22/12/2016 16:24

Davidosh - I would be very interested to meet with RNWH (long term holder) and TST

[paulypilot] 22/12/2016 15:50

I'm also long of TST, and would be very interested to meet mgt. It never seemed to go anywhere when it was Belgravium, so is more interesting now it has more ambitious mgt.

[rivaldo] 22/12/2016 13:49

That's great davidosh, cheers. Having met RNWH relatively recently I might try and make the Mello with TST that evening.

[davidosh] 22/12/2016 13:20

Good to see a respected group of us here. I will try to set up a presentation with Ian early in the new year before they go into a closed period.

I have one set up with Renew for 11am on the 16th Jan and it is my Mello in Beckenham that evening so probably a good day for a line up for lunch and in the afternoon.

[glasshalfull] 22/12/2016 13:10

...think that may have been on the back of me retweeting Hastings excellent article from October & interview with the Exec Chairman Ian Martin.



Tweet has already generated 1,500 impressions...

Kind regards,
GHF

[rivaldo] 22/12/2016 12:19

New highs now.

[rivaldo] 22/12/2016 10:42

FYI a new item on the News page is a White Paper on "Meeting the oil and gas challenge 2017":

[rivaldo] 21/12/2016 12:09

Nice 10k buy at 90p just now.

Online I can only buy a maximum 2,500 at 90p, whilst I can sell 15,000 at a big premium at 88.68p. Looks good.

[rivaldo] 21/12/2016 09:29

Welcome from me too GHF - apologies for being the last to do so, but I don't monitor this thread too often since it's generally a bit quiet :o))

The "new" CEO's nicely understated but positive outlook comments in the interims will hopefully be reflected in the anticipated stronger H2'16 results, continuing the recovery from H1.