Northbridge Industrial S... Share Discussion Threads

[davidosh] 30/5/2014 11:23

Did anyone attend the Agm yesterday ?

[smithie6] 30/5/2014 10:34

eggbacon
yes
in the notes of the accounts (annual rpt I think) it reports turnover etc in different regions...
where you can see the doubling for USA from 2012 to 2013

[alter ego] 30/5/2014 10:30

Smithie6, Tasman Tools not Talisman Oils, otherwise spot on.

[smithie6] 30/5/2014 10:23

...I disagree....

I thought it was a bad article....

Why ?

because he doesnt know almost anything about NBI

which is what you would expect since he tries to give opinions about 3-4 companies every day.....so only has perhaps 30 minutes to analysis each one....impossible to do almost anything in that time or look back at the past history.
[update. although for a 30 minute review and instant comment....its not bad]

----

eg. he criticised the large % increase in number of shares over past years...

but in reality a large part of that was for buying Tasman Oil [corrected name]....and that was an excellent buy which produced a step increase in EPS....and the share price !.

and the purchase of European co. adds benefits to NBI like adding transformers to the equipt,. hire list..and more physical location sites---and at a reasonable/good price

while share number increase is also a valid observation....but needed filling out...

and he fails to mention that increasing size increases the opportunities...and reduces the % of profit that is used to pay for the HQ function, directors, auditor and listing etc...

---

and needs to also mention that issuing shares rather than using just debt has allowed the gearing to be kept within limits....which limits risk....which is a good thing...

the record of NBI since listing has imo been excellent....including getting over a major fall of business in middle east..and Zincov project loss...they sidestepped and expanded in Auz, nicely done.

[apad] 29/5/2014 09:30

Good article in Small Cap Value Report Paul Scott.
Comments about the regular large increases in shares in issue.
apad

[eggbaconandbubble] 21/5/2014 10:57

Smithie, Have you got that from the Company Report? If so where is it. Cheers

[smithie6] 20/5/2014 14:29

just noticed they have 2.4Mn pnds in receivables in US dollars...

doubled from the year before...
looks to indicate that trade in USA has seen a large increase...
big place, big mkt....hopefully that increase will continue this year

[eggbaconandbubble] 09/5/2014 14:18

Tipped in Moneyweek by Mike Prentis of Blackrock Smaller Companies Trust plc.
"It trades on a prospective earnings multiple of 14, which looks attractive, given the medium-term growth prospects"

[smithie6] 15/4/2014 12:55

"Countryman5 11 Apr'14 - 17:55 - 1345 of 1348 0 0

I C comment positive. Expecting N America bolt on"

be nice....

USA having a boom in oil and gas (fracking, shale etc)
and NBI are of course now busy in oil/gas sector (in Auz and now also in middle east)

in any case...I think there is a high chance of an acquisition of some sort in coming 12 months...assuming they can get a decent price, so far NBI have been careful to only buy at decent prices, avoiding overpaying.

[2006stocktaker] 15/4/2014 10:42

This company is now my third largest holding. I bought most of them between 2007 and 2009 at prices ranging from 110 to 174. I have made a very satisfying return.

When I bought, they could have been considered cheap. In 2007 PE was 12 and 2009 got down to 6. This is no longer true. Free cash flow is good, but PE over 15. The shares have outperformed the market and the price does not look as compelling.

I have decided to slice a third of my holding. This is as much to do with my views on the market as on this particular share. I am looking to take money off the table and this is the obvious candidate.

I do think NBI has a good future but the risk/reward is not right for me here.

FWIW - Westhouse have a buy rating and target price of 571.

Good luck to all holders.

[nurdin] 14/4/2014 15:51

I bought mine at 1.38p...if records are correct :o)

[norbert colon] 14/4/2014 15:33

I know of one shrewd investor who bought NBI at around 125p in 2009 - a fine investment over 6 years including divi yield. I only bought at 158p in July 2010 and have top sliced since then (needed the cash) but am very happy with current trading and strategy.

[countryman5] 11/4/2014 17:55

I C comment positive. Expecting N America bolt on

[smithie6] 09/4/2014 21:50

Topvest
"Management starting to deliver"

That's a little unfair perhaps !
they have grown the co. very well....after raising money at 100p per share...they are now producing 28p EPS, after tax, impressive imo....and there is a good chunk of assets per share as well.

but I think we all know.....
and hence a fair number of NBI fans posting.

[norbert colon] 09/4/2014 10:11

Happy to remain a long term firm holder here. I like doing nothing - just hold and forget as it should be.

[topvest] 08/4/2014 20:36

Yes, very good results. Management starting to deliver. Looks well set for the future.

[smithie6] 08/4/2014 11:50

good results

well done to the execs. , managers and workers.

NBI continues to grow
and nice growth in its fleet size.

[countryman5] 08/4/2014 10:06

Alter.
We meet again. I came here at the beginning. Mr Hook runs a tight ship.

[alter ego] 08/4/2014 08:47

agreed and nice to see you here too C5

[countryman5] 08/4/2014 08:25

Brilliant, especially considering adverse exchange rate movement. Superb management operating in a global niche market.

[woodcutter] 08/4/2014 07:57

Excellent set of results and reasonable forward looking statement too.

Wouldn't anticipate much share price movement in the immmediate future though. Maybe a move back toward 460p at most.

Woody

[smithie6] 04/3/2014 15:06

Ashtead up 13% btw

(good part of income from hiring in USA)

[smithie6] 09/2/2014 14:29

bwt
imo it is also worth looking at WESP as an alternative way to get exposure to shares of NBI

WESP has around 52p/share in NBI shares
while WESP costs 55p/share to buy and has NAV of
a) 91-93p
b) NAV of 101-103p if use a more realistic value for its 49% holding in unlisted Hartim (or 111-113p if Hartim has had a good 2013 and hence is worth more)

(WESP. Western selection. on www.isdx.com
around 18M shares...and has 2M shares in NBI
and 3M in Creston and around 1.8M in SWL...and around 3M in a portfolio of blue chips...and 49% of Hartim (import/export company)

Because of the large discount of WESP share price to its NAV....a 10% increase in NAV of WESP would be 9.3p which would be 17%

one could also argue that the large discount of the WESP share price to NAV gives some useful downside protection
and the spread of WSEP NAV over 4 different investments gives a lower risk than just being invested in 1 share

WESP pays around 2p divi, approx. 4%

WESP also has some -ve factors such as controlled by another company, LFI...controlled by family trusts of the Marshalls.
and the shares are illiquid and on ISDX.
(personally being on ISDX doesnt worry me, ISDX is just as safe or risky imo as shares on AIM.....various cases of fraud or false accounts on AIM show that AIM is not 'safe' or well regulated, nor the LSE imo)

[smithie6] 07/2/2014 15:54

There are trades reported of 34601 shares.
Clearly, imo !, someone moving shares from one of their accounts to another of their own accounts....no nett buy or sale.

but
can anyone explain why there are 3 trades shown...
I've seen it before

moving shares from say a trading account to a SIPP account, say, one would expect one sell and one buy ......not three

is there a simple explanation ?

[topvest] 06/2/2014 21:17

Yes, nice to see that they have met this year's expectations.