Baqus Group Share Discussion Threads

[glasshalfull] 24/8/2009 19:14

FWIW - I had a look at the original article last week and did some preliminary digging prior to the rise today.

Fag packet stuff:-

3.5p mid (now out of date)
3p-4p (25% spread)

Mkt Cap £3.96m (113m shares in issue)

2009 forecast £0.8m PTP = 0.5p EPS = PER 7
2010 forecast £1m PTP = 0.6p EPS = PER 5.8

Looking at trade data there have been a few poor souls burnt when selling a few thousand, with prices quoted below bid.
Growth pretty tepid but expected at this stage in the cycle and I'd imagine room to upgrade figures should economy be over the worse.

I decided against it due to illiquidity.

Please take calcs with pinch of salt as they were rough workings / memory, should my initial take have whetted my appetite to do more research.
Of course with today's rise they are now out of date in any case.

Hope this assists.

Regards,
GHF

[glasshalfull] 24/8/2009 19:06

Hi Mas / Steg,

25% rise is (probably) due to this article produced today.




Screen Value Under The Microscope

Highlighted shares are Vislink, RCG and Baqus.

Baqus

Baqus will be much too small for many investors' tastes. The quantity surveying group is certainly a lot smaller than it was. It came to market in December 2007 at 10p a share and went over 12p immediately but it's been downhill more or less all the way since to 3.5p now, which values the company at under £4m.

Of course, quantity surveying wouldn't be your first choice of business in a property downturn, but this AIM tiddler still managed to make a pre-tax profit of £0.4m to the half year, had cash of £1.6m, and was "cautiously optimistic". Overall net asset value, meanwhile, was a relatively huge £10.8m though almost 80% of this is goodwill.

Nevertheless, Baqus was feeling confident enough to make a recent acquisition which will add to earnings. It looks like the company is on a P/E of something like seven excluding the acquisition, which falls to around 4.5 against enterprise value taking out the cash. And if we're in for a gradual recovery in property and construction, Baqus will benefit further.

Regards,
GHF

[stegrego] 24/8/2009 18:46

Mas,

Not really, but maybe rise is due to the slight upturn in the building game?

[masurenguy] 24/8/2009 15:07

Steg/jonwig - you guys still monitoring this tiddler ?

Wonder what prompted the recent rise from 3p to 4.5p over the last few days.

[jonwig] 09/4/2008 12:51

Had a chance to buy these at IPO for 8p (20% EIS relief on issue price), but passed it by.
Time to have another look, now that offer is around 8p?

Ste, can you slip this link into the header, please?



BAQUS = BACCHUS ... nice thought. I read the name more as "BACK US (please ...)"