||EPS - Basic
||Market Cap (m)
|09/2/2017||07:01||ONE||Wärtsilä Corporation's Annual Report 2016 published|
|01/2/2017||11:20||ONE||Wärtsilä Corporation, amendment to managers' transactions: Hietanen, Kari|
|01/2/2017||11:10||ONE||Wärtsilä Corporation, amendment to managers' transactions: Barbone,..|
|01/2/2017||11:00||ONE||Wärtsilä Corporation, amendment to managers' transactions: Eskola, Jaakko|
|31/1/2017||12:50||ONE||Wärtsilä Corporation, Managers' transactions: Hietanen, Kari|
|31/1/2017||12:45||ONE||Wärtsilä Corporation, Managers' transactions: Barbone, Pierpaolo|
|31/1/2017||12:40||ONE||Wärtsilä Corporation, Managers' transactions: Palomäki, Atte|
|31/1/2017||12:30||ONE||Wärtsilä Corporation, Managers' transactions: Eskola, Jaakko|
|31/1/2017||12:30||ONE||Wärtsilä Corporation, Managers' transactions: Castren, Päivi|
|31/1/2017||12:20||ONE||Wärtsilä Corporation, Managers' transactions: Wiren, Marco|
|tole: Companies: WRT
Wraith, which joined AIM in March, hires and sells modular and portable buildings used as temporary or semi-permanent accommodation units, to the construction, education, health, engineering and housing sectors.
Chairman David Wraith, who boasts a strong track record in this line of business, says the company has enjoyed strong, largely organic, growth during its early AIM life, with the listing 'getting us in the front door, rather than the back, and with larger customers'.
Interims to September were strong, showing 60% turnover growth to £10.6m and a 65% hike in pre-tax profits to £928,000. It spent £4.38m buying Bowood Event Hire's fleet hire assets, pushing gearing up to 130%. The fleet, which managed to maintain utilization rates of 80%, burgeoned from 6,000 to 8,000 units.
In other areas, Wraith has launched a well-received new niche product for the game bird shooting sector (birds that are shot must be refrigerated within two hours - Wraith supplies storage solutions) and the chairman insists other high margin product launches are on the cards for the second half.
For the year to March, house broker Fyshe Horton Finney forecasts a jump in pre-tax profits to £1.5m (£1.2m), off improved sales of £20m (£17.6m), giving earnings per share of 3.9p and a rather full forward rating of 23.7. If you can live with the borrowing levels (interest cover is over four times), Wraith represents an intriguing opportunity, being as it is valued at little over one times revenues.
Market cap: £24.7m
PE Forecast: 23.7
Share price: 92.5p|
|tole: Wraith - SPECULATIVE BUY
Fast growing Wraith, which hires and sells portable accommodation units including modular buildings, joined AIM through a March reversal into Seashell, a shell spun out from Lord Ashcroft's Carlisle Holdings. Chaired by David Wraith, the company operates out of five depots more are planned and has three main products. Its Jackleg units consist of timber frame construction and provide instant accommodation, whilst its steel anti-vandal accommodation units are designed for areas with high vandalism or theft risks. Wraith also supplies modular buildings to local authorities, NHS Trusts and health authorities, public bodies that ensure quality revenues. In a mature market, Wraith drives competitive advantage through canny understanding of customers and the design of accommodation solutions using the latest technology. Figures for Wraith Accommodation the sole subsidiary for the 15 months to March were very strong, revealing a 107% leap in pre-tax profits to £1.2m on a 63% surge in turnover to £17.6m. Impressively, that growth was achieved entirely organically. The main operational highlights included a 38% rise in the fleet of accommodation units, after £11.3m of capital expenditure, and utilisation rates which were maintained north of 80%. Wraith looks a decent growth stock, and could reward long-term.
Market cap: £22.9m
PE Forecast: n/a
Share price: 87.5p|
Wraith share price data is direct from the London Stock Exchange