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Jtc LSE:JTC London Ordinary Share JE00BF4X3P53 ORD GBP0.01
  Price Change % Change Share Price Shares Traded Last Trade
  +0.00p +0.00% 345.00p 605 08:12:56
Bid Price Offer Price High Price Low Price Open Price
329.00p 345.00p 345.00p 345.00p 345.00p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 382.6

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Date Time Title Posts
18/12/201809:24JTCod's Blog70,644
20/3/201812:01JTC Group IPO March 18 1
19/2/200122:18JTC - up 20% wow . nm3

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Jtc (JTC) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2018-12-17 16:35:05345.0096331.20UT
2018-12-17 16:29:57344.00100344.00AT
2018-12-17 16:29:56344.00108371.52AT
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Jtc Daily Update: Jtc is listed in the General Financial sector of the London Stock Exchange with ticker JTC. The last closing price for Jtc was 345p.
Jtc has a 4 week average price of 300p and a 12 week average price of 300p.
The 1 year high share price is 420p while the 1 year low share price is currently 295p.
There are currently 110,895,327 shares in issue and the average daily traded volume is 539 shares. The market capitalisation of Jtc is £382,588,878.15.
the stigologist: PYC The recent listings of Sensyne (SENS) (formerly known as Drayson Health) and Renalytix (RENX) have focused attention of UK investors on the new AI MedTech sector. Companies such as this in the AI/Machine Learning MedTech space "use anonymised data from the NHS to diagnose patterns in cancer and other diseases ...then pass on findings to drug companies so they can develop treatments faster and more cost-effectively than in the past." The rich valuations enjoyed by SENS and RENX have caused investors to look for other companies in the sector which may be 'hidden gems'. One such is Physiomics (PYC). Whilst Sensyne and Renalytix are valued at £240m and £70m despite have zero in revenues Physiomics is valued at only £3m AND has revenues of c. £0.5m However when considering how to value Physiomics it's important to realise there are two major strands to it's business. One strand is its 'legacy' Modelling and Simulation business which last year signed a E0.5m deal with Merck KgGA. This part of the business is analagous to the likes of Simulations Plus a $400m Mkt Cap Nasdaq listed comparitor with c.$20m in revenues. Thus one could apply a 'rating' of 10-20x revenues to value Physiomics business in this area. (£0.4m x 10-20x = £4.0-8.0m) The new strand to Physiomics business is it's AI/Personalised Medicine business. In this part of the business Physiomics has won research grant funding from the UK Government's InnovateUK to progress several studies on specific cancers in association with Oxford University academics and Oxford NHS. e.g. Oesophagal Cancer study hTtps:// Prostate Cancer study hTtps:// This part of Physiomics business is similar to and should be valued with reference to its newly listed comparitors Renalytix (RENX) and Sensyne (SENS). Those valuations would suggest a very wide potential range from £70m to £240m. Putting together the 'sum of the parts' we can conclude that a case can be made for valuing Physiomics currently as 'worth' somewhere within a range of £74-248m. In terms of share price with 72m shares in issue this would imply a potential valuation range of c.100-350p Clearly at a mere 5p the market has a lot of catching up to do in valuing Physiomics correctly.
brucie5: Mount Teide 27 Oct '18 - 15:42 - 69660 of 69663 0 2 0 Bruce - lol - my investment research posted on here is for value/growth investments i have made with a view to holding them for a minimum period of 3 years. ---------------------------------------------------------------------- Hey, MT, I realise you're not the sort of man to admit that you lose any kind of bet, since losing the much more significant one on a 'successful' Brexit will likely turn out to be anyone else's fault but yours. But yes, concerning this little side bet, you're right, first week is just white noise. However, this was a challenge, based on your 'original' and presumably gold plated research, and my 3rd party nonsense. I'm just lining them up and will enjoy continuing to do so. I hope you don't mind. BTW, three years should do EDEN just fine. I would expect it to be many multiples of the current share price, if not partly or wholly sold off to one or more of its major partners. Oh, and while doing good to the world. TXP?
mount teide: Bruce - 'In the meantime PM's are beating oil hands down atm, and should we move into recession, that is only likely to continue. I hold GPM.' Investing like a short term trader is a very risky strategy - industry research shows that well over 90%+ lose money, and often lots of it over the longer term. Recessions - Until very recently most major market equity index's were at/close to decade or all-time highs and many commodities, like industrial metals and oil were in the early stages of recovery from decade lows following a 6-8 year recession across the sectors which bottomed in 2016. Global equity markets and commodity markets are in fact in positions very similar to 1999/2000 in terms of their relative fundamentals and valuations. Ie; in diametrically opposite positions within their respective market cycles. In 2000, £100k invested in the FTSE 100 was worth just £80k some six years later(that's if you held your nerve and did't sell out during a brutal economic recession that bottomed in 2002 at a more than 50% loss), while the same amount invested in Copper in 2000 was worth circa £498k by 2006(many copper equities went up much more with sector star Oxiana Metals increasing an incredible 2,000 fold from a $3m to $6bn market valuation). While the same £100k invested in oil was worth £250k by 2006 - proving that not all asset classes necessarily go down, at least not for very long if at all, in general market corrections/downturns. The following chart compiled by Dr. Torsten Dennin / chief strategist at Tiberius Asset Management AG is well worth a look and explains very well the huge cyclical disconnection that has routinely occurred over the last 50 years between commodity market cycles and the wider economic cycle. hTTp:// Many would have expected something a little more substantial from you explaining the merits of the investment case of the Company you mention - something along the lines of the GYM Group post below made here last summer when the share-price was 180p - it has been as high as 340p before recent profit taking: 'The GYM Group - GYM - growth with no debt and entirely financed by its existing estate! The FY2016 Accounts show a 4 year CAGR of: revenue 38.4%, adjusted EBITDA of 39.5%, and gym/membership of 28.2% - all financed by its existing business. 15 new gyms were added in the year to the existing 74 gyms, which generated £73.5m in revenue, and EBITDA £22.7m (31% margin) Operating Cash Flow conversion of 109.9%. OCF of £24.9m, which is net of maintenance capex. Expansionary capex of £20.9m At £1.4m per new gym, that gives 20.9/ 1.4 = 15 new gyms To grow the number of gyms by over 20% in FY2016, the company took on no debt and, actually increased its net cash position at year end by £2m. For mature sites, each gym generates £476K in EBITDA. So a payback period of 3 - 4 years. Looking at FY2017, the company can open around 18 new gyms based on year 2016 assumptions, and all organically without raising a penny of finance. Looking at the market as a whole, I strongly suspect the low cost gym revolution(4 year CAGR of 44%), is still in its infancy, accelerating and has probably a decade or more to run before getting close to saturation level. Today there are 3,504 private gyms with an average monthly fee of £50, 2,709 public gym facilities with an average monthly fee of £30, and just 515 low cost gyms with an average fee of £17 a month. I expect Public sector gyms (CAGR over last 5 years of 1%), to be one of the main targets of the low cost gyms over the next decade, particularly since public sector sports facility funding has been cut sharply over the last 3 years (16% down). Some Gym Market Statistics: Source: Leisure Database - State of the UK Fitness Industry Report - dated 31 March 2017. Pure Gym is the current low cost market leader. On average Pure Gym charge around £7.60 more per month than The Gym Group. If Gym Group increased their charges by just £3.80 a month, half of the price difference with that of Pure Gym; on current membership levels of circa 500,000, that would more than double Gym Groups current EBITDA of £22.7m. Across high population London, Gym Group have got 38% of the current low cost market, nearly twice their largest two rivals combined. Despite the rapid growth over the past few years, there are still only 515 low cost gyms nationwide, just 7.6% of the current total gym market. Low cost gym membership has grown over the last 5 years at an average CAGR of 44%, while traditional high cost private and public sector gyms has seen growth of 0% and 1% respectively. Low cost gym membership today, still only represents just 22% of total gym membership nationwide. There are over 2700 public gyms - each has on average only 26% of the equipment of a low cost gym, 23% of the membership numbers, and a membership fee some 76% higher. And there has been a 16% reduction in spending on public sector sporting facilities over the last three years, which remains on a sharp downward trend. Declaration - completed building a position here last week - Gym Group is a top 5 portfolio holding.'
mount teide: High Street fashion king Next says online business is booming - In a sign of the dramatic shift in shopping habits in Britain, the company revealed that just 47% of its sales came from its shops in the first half of this year. Next reported a 16.8% rose in online sales which completely offset poor sales at its High Street shops which tumbled 6.9% to £925million in the first half of the year. With online business booming Next raised the company's profit forecasts for the year to £727million, up from the £717million it predicted in May and £705million it forecast in January. Next upped its interim dividend from 53p for 55p, prompting speculation that investors could be in line for a bumper rise in this year's final dividend payment. Next has closed eight stores so far this year and delayed the opening of one large shop. It expects to close 22 shops in total this year. It is also taking a tough stance with landlords and has managed to secure significant reductions on rents across its stores. Likewise £2.4bn market cap online fashion retailer Boohoo saw total sales rise a staggering 50% to £395m in the six months to 31 August – a much bigger increase than City analysts had predicted. Boohoo’s CEO said the company was continuing to benefit from the shift to online shopping. “All our brands are taking market share,” The 'PrettyLittleThing' Brand was the standout performer, with its revenue soaring 132% despite the relocation of its distribution centre to Sheffield, northern England, during the period. Boohoo and other online specialists like Asos are tapping into a generation of young consumers who shop on their mobile phones and share fashion tips via social media. Traditional British clothing retailers such as Marks & Spencer and Debenhams have seen profits slump and stores close. Boohoo, which sells own-brand clothing, shoes, accessories and beauty products, largely to 16- to 30-year-olds, said it now expected full year sales to rise by up to 43%, 33% more than previously hoped. The share price rise means Boohoo now has a market cap some 24 times more than fast fading high street based Debenhams. Most youngsters (18-30 year olds) unburdened by large mortgages on overpriced property live through their £1,000 mobiles and social media - many of the old high street dinosaurs like House of Fraser and New Look completely missed this fast moving trend and paid the ultimate price.
mount teide: Mattjos - The board was set up as an open financial forum for equity investment IDEAS/RESEARCH - i am virtually alone in using it any longer for the intended purpose - hopefully many have benefitted from the equity investment ideas/research on some of the 100%+ winners posted here over the last 18 months. 'AAOG is a 4.30pm at Lingfield .. maybe it will win or, maybe it will fall at the first. a dice roll.' The 4.30pm at Lingfield can often come in if you know where to look and do some research worthy of the name: Oxiana Metals went up 1,000 fold before paying a dividend. Apple went up 250 fold before paying a dividend Amazon went 575 fold before paying a dividend Asia Met has gone up 11 fold since the start of this latest commodity cycle recovery stage in 2016 and recently got a II placing effortlessly away at a 1,100% premium to the 2016 cycle low share price equivalent in size to TWICE ITS THEN MARKET CAP - and guess what? Asia Met does not pay a dividend but does have a highly successful management that is totally unique to equity investment - since taking over the company in 2015/16 the entire Board has not taken a penny in fees, electing to align themselves completely with their shareholders by taking their fees in highly incentivised share-options - such is their confidence in their ability to generate exceptional value from the world class assets. Recent in-fill drilling in some of the 'hot spots' of their near term production first development project recorded up to 25% copper outcropping to within a few metres of the surface in an industry where the average grades of the world's 20 largest copper mines have dropped continuously for the last 30 years to just 0.59%. Oh, and this was the management team that took over Oxiana metals at the beginning of the last commodity cycle recovery stage when its market cap was $3m and walked away some 8 years later after a take-over offer, having increased the valuation of the company for its shareholders 2,000 fold to $6bn. And they did all this as the S&P 500 entered a brutal 6 year recession that saw it drop 50% at its lowest point and still was in correction territory just before Oxiana's management recommended the take-over offer. And all this was achieved in blissful ignorance of the amount spent on takeaways in New York during the recession going down.
jailbird: Look at the market cap not the share price
mount teide: Remember watching a Channel 4 TV interview Morgan Kelly gave at the height of the Irish property market lunacy - he said it was a major accident waiting to happen as 75% of Irish Bank lending was tied up in property and land speculation and totalled more than 2.5 times the size of the Irish Economy. Irish banks were almost entirely funded by deposits until 2000. In the next decade their business model was to borrow in the international wholesale markets and lend to property developers and house-buyers – it was Northern Rock on steroids until an international credit crunch came along and brought the whole thing crashing down. Politics and regulation instead of acting as a preventer acted as a catalyst as a result of the reckless behaviour of self serving politicians and banking sector management. Yet another huge financial disaster aided and abetted throughout by the big audit groups. The shenanigans at Anglo Irish 'Bank' probably best demonstrated the astonishing scale of the folly and breathtaking arrogance and corruption of its CEO - well reported on at the time by the FT: 'At the heart of the crisis was Anglo Irish Bank, the domain of Sean FitzPatrick, its chief executive for 18 years and chairman from 2005. FitzPatrick and Anglo streaked across the dull firmament of Irish banking like meteors, igniting a frenzied battle for size and market share. Between 1998 and 2008, Anglo’s loan book swelled from €3bn to €73bn. Almost all of this was to builders and property developers. Bertie Ahern, the Taoiseach who presided over the alchemical prolongation of the boom and hides his shrewdnesss behind a blokeish bonhomie and mangled syntax, saw it differently in 2006 when, as he put it, “the boom was getting more boomier”. Sean FitzPatrick, it would later transpire, used Irish Nationwide, the building society, to warehouse an undeclared personal loan from his own bank of €87m during the end-of-year reporting season – every year for eight years until it was detected in 2008. As the Anglo share price started to crumble and it and other banks started to haemorrhage deposits, another building society, Irish Life & Permanent, lent the bank €7.5bn to tide it over another sticky reporting season. This was presented in the accounts as part of Anglo’s customer deposit base. Anglo also lent money to a select group of 10, mainly builders, clients to buy stock in the bank and prop up its share price. This is a bank into which the government has already had to inject €14bn. Even after the nationalisation of Anglo Irish and the state’s rescue of its rivals through the establishment of a “ bad bank”, the National Asset Management Agency (Nama), to manage nearly €80bn in toxic property assets, some bankers’ purchase on reality was negligible. FitzPatrick, less than a week after Anglo was bailed out by the taxpayer, called for cuts in child and pensioner benefits. He and his peers were not operating in the penumbra, they were hiding in plain sight, protected by what Fintan O’Toole, The Irish Times columnist, has called “the Celtic informational twilight of things that are known but not known”. They have helped turn Ireland upside down. Twenty years ago, any Irish man or woman would be fluent in EU lore, from the number of scholarships available to the precise value of Brussels regional aid. Ten years ago they became encyclopaedic on property prices, and a storehouse of tips for buzzy holidays from Barcelona to Bangkok. Now, they enumerate toxic assets like a loss adjuster. “That building there, it’s just been Nama-ed,” said one resident, pointing to one of Dublin’s best-known hotels. As a barman in that same hotel had it: “We’re all economists now.” And as Yeats put it in a different context: “all changed, changed utterly”. '
mount teide: As expected, with the Baltic Dry Index rising close to 50% since Q1/2018, the world's largest shipbroker Clarkson's has experienced a stronger Q2/2018 across most of its main shipbroking and sale&purchase markets. The oil tanker market although still the exception is now seeing green shoots, moving up strongly off multi year lows; vessel charter rates have increased by over 100% since the start of Q3/2018 which should bode well for H2/2018 and 2019. Likewise the oil services sector, also recently made a bottom and entered a new cyclical recovery phase following a brutal 5 year recession which brought the industry to its knees. Clarkson's highly expensive takeover of Platou some 3 years ago - a specialist oil tanker and oil services sector shipbroker - could not have been more badly judged/timed but, following an awful post acquisition period should now start to generate better news and results going forward. Oil tanker rates dropped over 10 fold peak to trough following Clarkson's takeover of Platou and the oil services sector completely collapsed, with large sections of many major fleets put in to long term lay-up. The Clarkson share-price which briefly dropped from £30 to below £20 following the profit warning in Q1/2018, has recovered strongly since, hitting £29 this morning following this morning's Interims With the shipping markets forecast to be close to a demand/supply balance for the first time in a decade in 2019, I'm maintaining my earlier call of a £100 Clarkson share price by 2023/25 as the shipping markets continue to strengthen into this new commodity cycle recovery stage, which like all previous recovery stages will come with the high stomach churning volatility these markets are renown for. The shipping and commodity markets may not be for the fainthearted, widows or orphans perhaps - but for those with the constitution to withstand the volatility, with careful stock selection the once in every 15-20 year recovery/boom stage of these long term, highly cyclical markets offer investors the opportunity of tremendous multi year outperformance compared to the wider market indexes.
henryatkin: Aleman...US stock buy backs are now at levels not seen since 2000 & 2007, yet the buy back companies index is lagging the S&P 500 year to date. At the same time ROI on buybacks has steadily diminished over the past five years. To my mind we eventually reach a point in market timing where buybacks are the only buyers in town. edited. I didn't realise it was a subscription page> Full text U.S. companies are buying back record amounts of stock this year, but their shares aren't getting the boost they bargained for. S&P 500 companies are on track to repurchase as much as $800 billion in stock this year, a record that would eclipse 2007's buyback bonanza. Among the biggest buyers are companies like Oracle Corp. , Bank of America Corp. and JPMorgan Chase & Co. But 57% of the more than 350 companies in the S&P 500 that bought back shares so far this year are trailing the index's 3.2% increase. That is the highest percentage of companies to fall short of the benchmark's gain since the onset of the financial crisis in 2008, according to a Wall Street Journal analysis of share buyback and performance data from FactSet. And the historic spending spree on share buybacks has some analysts worried companies are buying their shares at excessive valuations during the peak of the economic cycle and at a time when the market rally is nine years old. Others warn the billions of dollars spent to buy back shares could have gone toward capital improvements like new factories or technology that could lead to stronger long-term growth. "There has been less of a reward for companies engaging in new buybacks over the last 18 months," said Kate Moore , chief equity strategist and a managing director at asset-management firm BlackRock Inc. "It's fair for investors to ask whether companies are buying at the right point." The S&P 500 Buyback index, which tracks the share performance of the 100 biggest stock repurchasers, has gained just 1.3% this year, well underperforming the S&P 500. Share buybacks have become corporate America's go-to strategy for boosting stock prices and earnings over the past 30 years. The point of buybacks is to try to make a company's stock more valuable. By mopping up shares, a company shrinks the stock pie, which boosts earnings per share. That, in turn, should push the share price higher. The potential problem: Executives directing buybacks are essentially timing the market, and often they end up buying high. Buyback activity reached a frenzy in the early 2000s; the previous record for share repurchases was $589.1 billion in 2007. But that was just a year before the stock market tumbled into the worst financial crisis since the Great Depression. The result: companies like Exxon Mobil Corp. , Microsoft Corp. and International Business Machine Corp. each paid more than $18 billion to repurchase stock at a peak, only to see their share prices slump a year later. Stock buybacks appear just as ill-timed now, some analysts and investors say, especially as companies ramp up spending after last year's $1.5 trillion tax overhaul put extra cash in their coffers. Oracle has been one of the biggest buyers of its own stock in recent years and spent $11.8 billion on stock repurchases last year, when shares gained nearly 23%. But that gamble hasn't looked smart this year as the networking- device maker has struggled alongside the broader market, pulling its shares down 6%. Still, Oracle's board approved a fresh round of share buybacks totaling $12 billion in February, and executives appear to have spent nearly half that sum already. A representative from Oracle declined to comment on its share buyback program, but the company said in a recent Securities and Exchange Commission filing that it "cannot guarantee" its share repurchase "will enhance long-term stockholder value." Others like McDonald's Corp. , Bank of America and JPMorgan Chase have spent billions on share repurchases this year, but haven't seen a short-term bounce in share prices. McDonald's bought back $1.6 billion of shares in the first quarter, but the fast-food chain's stock is down 7.4% this year. Bank of America and JPMorgan Chase have both spent more than $4.5 billion to buy back their shares, which are down 5% and 2.7%, respectively. All three companies also spent multibillion-dollar sums on buybacks in 2017 as the stock market hit repeated highs. Companies in the S&P 500 that have repurchased shares are expected to see a return on investment of about 6.4% this year, a percentage that falls below the past six rolling five-year periods as measured by Fortuna Advisors , a financial consulting firm that has examined buyback trends going back to 2007. Returns on investment for buybacks peaked in 2013, according to Fortuna's analysis, as companies used share repurchases to boost earnings and dig themselves out of the depths of the financial crisis. With stock prices relatively low at the time and economic activity tepid, share buybacks were one of companies' key sources of earnings growth. But even as the stock market steadied in the subsequent years and economic growth around the world picked up to help boost profits, corporate executives continued to spend wildly on share repurchases -- often at the expense of other types of spending, including dividends and capital improvements. Spending on capital expenditures rose to $166 billion in the first quarter, up 24% from a year earlier, according to Credit Suisse , but still well below the $189 billion spent on buybacks. "The majority of capital deployed is going right back to shareholders and not reinvestment in businesses," said Gregory Milano , chief executive at Fortuna. "If that's the only thing you're relying on, it's going to end badly." Some share buybacks do pay off, but that tends to be among companies that show a high level of sales and earnings growth on their own, analysts say. Apple Inc. , for example, has bought back $22.8 billion worth of stock so far this year. Its shares have risen 11%, with much of the boost coming after it reported strong gains in second-fiscal-quarter revenue and profit -- as well as a record $100 billion plan to buy back more stock. "Corporate America has such an obsession with bottom-line growth," said Jay Bowen , president of Bowen Hanes & Co. , manager of the $2 billion Tampa Firefighters and Police Officers Pension Fund . "Long term, I don't like it." Write to Michael Wursthorn at (END) Dow Jones Newswires 07-08-18 0900ET Copyright (c) 2018 Dow Jones & Company, Inc.
tewkesbury: Powerhouse Energy (PHE) possible 2000 bagger: englishlongbow 25 May '18 - 10:49 - 6554 of 6556 Keith Allaun says PHE could be a FTSE 100 company based on their UK rollout plans i.e. at least 300p share price; and they are expecting 2.5x more rollout in the EU, and roll out in other geographies like Australia, Far East, Midddle East, etc. So in terms of the share price: 300p for the UK + 750p for the EU + more elsewhere, gives an eventual share price well over 1000p (£10) making it a 2000+ bagger from here. £1000 investment now could be worth £2 million in future. That is a mind boggling return on investment.
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