||EPS - Basic
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Christie Share Discussion Threads
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Prelims out this am:-
Obviously the current figures are, ahem, "unexciting" but:-
The year for both our divisions has started more strongly than in 2016. We have some inflationary costs to absorb which our budgets allow for. Your management and staff alike strive to always deliver a service that is second to none, and on your behalf I thank them. We plan for continued growth in 2017. Your board's enthusiasm for the unique and logically related Group of companies that constitute your business continues unabated.
Reflecting this optimism, your directors recommend a final dividend of 1.5p per share (2015: 1.5p), maintaining a total of 2.5p for the year (2015: 2.5p). If approved the dividend will be paid on 7 July 2017 to those shareholders on the register on 9 June 2017.
The pick-up in sales towards the end of 2016 continued into the new year. We entered 2017 with a strong pipeline across our business.
As underlying market trends re-establish themselves we are poised to benefit. With capacity already in place we can take on more business without incurring significant extra costs. It means further revenue growth is likely to result in higher operating profit returns as we benefit from our operational gearing.
Not exactly a "no brainer bet the farm job" but as a result, and hoping the share price is bumping along the bottom, I decided to join you mob with a very modest purchase first thing this morning.
Good fortune to all holders.|
|Yes - he did say he thought they were fundamentally undervalued. He's often right ...|
|mctmct. The answer to your question is "yes", see FT 07/01/17. I came to this thread to find out why he is so keen. No answer!! From Stockopedia web site I see that CTG has negative net book value, a significant pension scheme deficit and the web site puts them into the "Distress" category for Bankruptcy Risk". JL's mention seems to have put the price up by 10% so his adherents are bowing before the throne.|
|Results on Sept 12. share price moving up slightly. Is John Lee still holding?|
|Read Panmure’s full note on Christie Group (CTG), out this morning, by visiting www.research-tree.com…
"Prelims to Dec 2015 ahead of forecasts, but 2016 had a quiet start 9% sales growth in CTG’s PBS division on broadly stable margins. 2016 softness leads us to reduce our PBT forecast by c.7%. Target price goes from ..."|
|Core advisory business is absolutely flying, albeit it will be slightly impacted by the general election. More importantly though the pension deficit was a bit of a shocker, and the stocktaking division was loss-making in H2'14.
Interestingly as well, house broker Charles Stanley reduced their adjusted EPS for this year to 8.1p from 9.2p in 2014.|
|Anyone have any thoughts on the price drop?
Results looked Ok to me, divi up etc.
Still holding, just curious.|
|Dream on Brummy though they did issue some shares (at 60p?) about 18(?) months ago to finance an acquisition
Existing holders very happy|
|The business seems to be flying – the only problem being that liquidity in the shares is low, which means there is very little spare stock available for new investors.
IMO -The company really needs to look at this and increase its profile.|
|No posts for over 6 months.
But today's "expect results to be significantly be ahead of forecast for this year 31/12/14" t/up is worthy of comment as is that the value of shares have virtually doubled in last year.
Look forward to seeing full results announcement on 31 March 2015.|
|Chris Jordaan, CEO will be presenting at the Proactive Investor forum on 23rd October. To register, please click here; http://tinyurl.com/lenwvcl|
|Been here since 80p ish, and it's had a good run in the past few month. The valuation looks a bit high now, so I am out for now. GL|
|Appreciate your comments fugwit. I know what you mean about paying up front for growth that hasn't happened yet and I don't tend to do it as a matter of routine. I've made an exception in this case as the April trading update was very bullish e.g. CTG is saying just 4 months into its new financial year that it is already confident it will beat market expectations for the FY. I would be surprised if it now fails to achieve the new upgrade forecasts, therefore I'm assuming it is reasonable to value the company on those upgraded forecasts. I'm hoping the recent chart breakout above its 52 week high might continue to draw in some momentum investors too.|
|Hi firtasia, I guess mcap/PBT is the same thing as PE you are just working on a company level as opposed to a per share level. I see what you mean about EPS upgrade momentum, it is a nice approach and one I have some difficulty with myself...I never have been able to pay up for growth even though I am a fan of Slater, you can imagine it can lead to a fair amount of frustration. It has kept me out of CTG even though I have had an eye to it since John Lee covered it in the FT some time ago, it might be time to reconsider before it is too late here. Ta for the response.|
|Hi Fugwit, I dont tend to use PE ratio that much, I tend to look at the ratio of market cap to PBT and compare it with the rate of EPS growth, a mishmash of Messrs Slater and Burns I suppose. Given the relative lack of broker coverage and given I believe the company to be in an earnings upgrade cycle which will continue, I will look for the "earnings upgrade surprises" to move the share price up in fits and starts, but I have the patience to wait. Will be looking for a loss in EPS upgrade momentum to dictate my exit point. Sometimes this strategy has worked for me, sometimes it hasnt. Thats what I like about the markets, you just never know.|
|Increases in sales very largely flow through to profits so there is huge scope for profit growth here.
I think the Christies division on its own previously made peak profits of £10 million. Assuming they will get back to peak profitability and add some profit from the stocktaking side and you get EPS of over 30p in time. I would put a PE of 10 on that|
|I have 2014 EPS forecast of 8.2p showing for Charles Stanley, a full 10 fold increase against 0.82p for 2013. However at 8.2p EPS we CTG are currently on a PE ratio of 16. I wonder what PE you think that should or could be worth firtashia.|
|EPS forecasts very recently (within the last week) increased by 46%. I dont believe this is fully reflected in the share price despite the recent rise so have bought in. But we shall see.|
|Thanks Brummy, I bought MAR for that reason also, but there hasn't been that much gain there. I wonder why I can not even see MAR in advfn, so bought it through hl, any thoughts please.|
|IMO the shares are strengthening due to the perceived pickup in commercial property. Also +ve recent newsflow from Waterman (new build) and wider property sector|
|He recently did bed and isa to transfer all his holding of ctg into isa. There was a recent article in the telegraph , about 4 weeks ago, I think|
|He has been a shareholder for some time. Has there been recent publicity about his holding?|
|Cheers sleepy, are you a holder. I wonder if it has anything to do with the fact that John Lee has taken a big stake in his isa.|
|Well done modform|