Well, you were pretty clever to hang on to this one! Well done.
The original Cornishman must have made off like a bandit back in the day. I have this vision of him sailing his yacht around the Caribbean :-) |
Thanks Gnome3, but I am definitely not as clever as the Cornishman you refer to! Just got lucky with this one. |
Congratulations Cornishman. That's an incredible buy and hold!!
Are you THE Cornishman? If so, I owe you a belated thanks from the start of the Millennium!
I began my investing journey in the midst of the Tech bubble and you struck me at the time as one of the few voices of reason in amongst all the insanity. I remember you used to keep a list of your current holdings on your MF profile and I would keep an eye on it for new ideas. Having made a not inconsiderable amount of money, I woke up one morning in early 2000 with a feeling of impending doom. When I checked your holdings, you'd removed the lot and I took the decision then to sell everything - right at the top of the market!
Unlike you probably, I reinvested my profits a few months later in the blue sky dross which was now trading at a mere fraction of its former highs. The rest is history! Without doubt the best and cheapest investment lesson I ever learned. |
The interview was only 35 minutes so I am sure you can fit that in before your hair dries lol |
Four hours talking about stocks ; I think I'll go and wash my hair :-) |
'New all time high. What a great investment this has been, having first purchased in 2009 at a little over £1.'
Agreed....Did you watch the interview?
.It has just been released to our 800 plus annual pass holders and is available here...
That is the whole four hour show. Next show is on the 8th November |
New all time high. What a great investment this has been, having first purchased in 2009 at a little over £1. |
Still, anyone who has bought a 50 bagger should be allowed to boast a little....
I'm on a paltry 30 percent. |
He has more sense than to tell you inside information so it's not really a secret is it. |
We've had over 300 companies present at Mello in the last 15 yrs but none as successful to date as Judges Scientific which has 50 bagged for investors since David Cicurel came to dinner in 2009
Tonight I interview him & discover the secret of his success |
A hold in IC this week @ 7500. |
Judges will be reviewed in the Mello September Results Review show tonight
To join with a complimentary shareholder pass use code 2809Mello |
Judges Scientific plc (JDG) Interim results presentation September 2021
Judges’ CEO, David Cicurel, Gp FD, Brad Ormsby and COO, Mark Lavelle, present interim results for the period ended 30 June 2021.
Watch the video here:
Or listen to the podcast here: |
Mr Hoop to you ;-) |
WHI upgraded around 10% to 208p which I think is still light considering the 18.8 week orderbook and a historic H2 weighting. |
Does anyone know what analysts’ estimates are, please?
I was forecasting 190p for the year. |
Despite obvious irritation at the obstacles created by Covid and supply chain issues etc, the outlook is positive as the chairman says
"Our financial position is robust and the Board has confidence that the performance for the year as a whole will be ahead of consensus expectations."
Just wish I had bought more when they were £6.33. Still mustn't grumble. |
A company that just keeps giving!!!! |
That is an impressive chart with a new ATH. I wonder why? |
Great trading update |
David Circuel has said he believes that having come through the financial crisis and now, Covid, many owners will be thinking about selling up before another crisis hits them. He doesn't think putting more resources into seeking deals would work as you can't persuade someone to retire so JDG will wait to be approached. Owners know JDG will look after the business and its employees which must be important if it's been your life's work.
However, I suspect they have a number of irons in the fire, hence the improved finance available. |
Inference from this announcement is that the board believes there is scope to accelerate their acquisition strategy, but knowing their criteria is set in stone in terms of ratios it may be awhile before any new deals materialise. |
 New GBP60.0 million Bank Facility
Judges Scientific, the group focused on acquiring and developing companies in the scientific instrument sector, is pleased to announce that it has entered into new banking facilities ("Facility") with Lloyds Banking Group plc (the "Bank") which replace its existing banking arrangements with the Bank, which were for an aggregate amount of GBP35.0 million. This new Facility will provide greater acquisition financing capacity, both in terms of higher frequency and/or larger deals, in support of the Group's buy and build strategy.
The Facility is for an aggregate GBP60.0 million consisting of a GBP19.0 million term loan ("Term Loan"), a committed GBP35.0 million revolving credit facility ("RCF") plus a GBP6.0 million accordion facility, which can be drawn at the discretion of the Bank. The Facility replaces the Group's previous facilities of which GBP19.0m remained drawn. The Facility has a five year term ("Borrowing Term") with covenants and interest consistent with the previous bank facilities.
The Term Loan amortises on a straight line basis over the Borrowing Term by quarterly instalments. The RCF is repayable in a bullet at the end of the Borrowing Term. The accordion facility increases by the amount paid off the Term Loan, keeping the overall Facility at GBP60.0 million throughout the Borrowing Term.
The banking covenants remain similar to the previous banking arrangements, namely:
-- Gearing no greater than 2.5 times Adjusted* EBITDA;
-- Interest Cover no less than 3 times; and
-- Adjusted* EBITDA cover of greater than GBP7.5 million plus 75% of any future acquired company's EBITDA.
The existing lending facilities via Bordeaux Acquisition Limited ("Bordeaux"), the Group's 88% owned subsidiary, remain unchanged. Bordeaux owns the trading companies of Deben UK Limited and Oxford Cryosystems Limited .
* Adjusted EBITDA excludes adjusting items relating to amortisation of acquired intangible assets, acquisition-related costs, share based payments and hedging of risks materialising after the end of the year.
Brad Ormsby, Judges' Group Finance Director, commented:
"We are delighted that Lloyds and its Relationship Team have continued to show their long-term desire to stand behind the Group's growth trajectory. This Facility will provide the Group with a substantially larger springboard to continue with the execution of its buy and build growth strategy." |
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