Quayle Munro Share Discussion Threads

[mw8156] 03/2/2004 18:08

Anyone any ideas what is lifting QYM?

[forensic] 30/1/2004 11:58

Up 55p today. Nice.

[mw8156] 17/1/2004 14:11

Bellway update should bolster QYM

[mw8156] 22/12/2003 19:23

Thanks i wondered why stv s accounts had not been made up to 31 12 02 in QYMs own accounts notes to their statemnts. No first hand knowledge of stv im afraid but think that QYM may be marginally undervalued by 10 - 15 %.`

[stevie blunder] 20/12/2003 17:25

At the valuation in the latest annual report, just under 600k, or about 17p per QYM share. The latest accounts from STV systems can be down loaded from companies house, and show just about flat profits for 2002. They did not file until 29th oct 2003.

Their financial position is improving, and they were able to clear some of the overdue payments on their preference stock. they also talked about their diversification into the middle east, and proposed to diversify into the americas and south east asia in 2003.

I have often thought that this business would be better sold, probably to the management, but if they can pull of their expaansion, there may be some value to be had. Perhaps the Wood Group would be interested?

Do you have any personal knowledge of the company, have you seen this expansion at first hand? Nothing like getting it from the horses mouth, as it were...........

regards

steve

[mw8156] 20/12/2003 13:01

What about their holding in Submersible tv systems. How much is that worth?

[stevie blunder] 07/11/2003 15:46

you could be right.

on the other hand Morris group just reported a rise in first half profits of 30%.

if they do the same for the second half then QYM's valuation of them is currently at a p/e of 3.1. They constitute 55% of QYM assets.

i think there is some upside.


Edit, oh, and Tayside is going to be huge (maybe)

regards


steve

[skyracer] 07/11/2003 11:40

Trading statement: rubbish, its fallen because it wasnt worth 440p.

[stevie blunder] 20/10/2003 12:00

Held these for years. I see 2 major reasons for hang on. Morris Homes, and Tayside flow technologies.

Morris group are here


you can get the annual accounts for the year to 31st March 2003 here:



remember to search for Morris Group, (not Morris Homes) They file their accounts at Companies House near the beginning of July each year, so you can the news early as it were.

QYM own 23.4% of Morris and carry them at a valuation implying a historic p/e of 4, and at just over 2 times Morris NAV. should be some good upside here over the next few years, as Morris NAV doubled in the last year, and they say that the current year will produce more growth.

Tayside Flow Technology are here

a few quotes:

TFT's lead product is a peripheral artery bypass graft. This product has been created by TFT and the SLF™ technology can readily be incorporated into the grafts of any of the existing manufacturers, whether in woven, knitted, or extruded materials. Because of the high failure rate of these grafts, clinical effectiveness can be established rapidly, either by cohort surveillance, or by a short randomised trial.

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In some areas, such as bypasses below the knee, seven out of 10 synthetic grafts will fail within two years, and 40% of patients will have to have a limb amputated as a result. Others face repeat bypass surgery. Both problems can shorten life expectancy.

Tayside Flow Technologies (TFT), a spin-off company founded by the three doctors, has now developed artificial arteries whose shape encourages natural spiral flow. Made from plastic or aluminium, they have a design similar to the bore of a rifle which preserves the spinning motion of the human artery. Although not yet tested in humans, it is thought they could halve the current failure rate. That could save hundreds of lives in Scotland each year and millions worldwide.
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me again

The initial market opportunity is the peripheral graft worth about 300 million, they have done work on pigs and will start clinical trials next year, all being well. There should be some news this year if they can sign up a partner to manufacture the grafts.

QYM own currently own about 23% of Tayside, who have raised about 4 million so far, but may be diluted at a later date. The stake represents about 20p per QYM share. The upside is substantial, IMHO.

regards

steveb

[forensic] 15/10/2003 16:47

They went x dividend today, which is worth 11p. So in fact they have effectively gone up 1p today.

[mercenary] 15/10/2003 15:32

1 small trade & marked down 10p? Any ideas

[simonevans] 02/9/2003 20:44

Interesting price movement today. Any views?

[boram] 01/3/2003 14:25

Interims are out on Monday 3rd, there finals were up last time, do you think that there Interims are going to be good.