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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| React Group Plc | LSE:REAT | London | Ordinary Share | GB00BPCTRB97 | ORD 12.5P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| 0.00 | 0.00% | 87.00 | 14,946 | 08:00:17 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 86.00 | 88.00 | 87.00 | 87.00 | 87.00 | |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Bldg Clean & Maint Svc, Nec | 19.58M | 50k | 0.0023 | 378.26 | 18.75M |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| 15:30:17 | O | 11,520 | 86.80 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 08/11/2024 | 17:12 | UK RNS | React Group PLC Holding(s) in Company |
| 06/11/2024 | 07:00 | UK RNS | React Group PLC Exercise of Options & Total Voting Rights |
| 30/10/2024 | 15:09 | UK RNS | React Group PLC Holding(s) in Company |
| 30/10/2024 | 15:04 | UK RNS | React Group PLC Holding(s) in Company |
| 28/10/2024 | 11:58 | ALNC |  UPDATE: React completes GBP1 million equity raise amid acquisition |
| 28/10/2024 | 11:19 | UK RNS | React Group PLC Completion of Placing |
| 28/10/2024 | 10:12 | ALNC | React buys 24hr Aquaflow Services for GBP7 million and raises equity |
| 28/10/2024 | 07:30 | UK RNS | React Group PLC Acquisition, Proposed Placing & Trading Update |
| 17/9/2024 | 12:00 | UK RNS | React Group PLC Holding(s) in Company |
| 08/8/2024 | 07:33 | UK RNS | React Group PLC Holding(s) in Company |
React (REAT) Share Charts1 Year React Chart |
|
1 Month React Chart |
Intraday React Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 09/12/2024 | 11:28 | REACT Group : contamination/deep cleaning specialists | 1,384 |
| 24/4/2023 | 07:42 | REACT GROUP PLC | 477 |
| 07/11/2022 | 12:44 | React Group: a specialist company which will multibag very soon | 299 |
| 05/10/2021 | 11:59 | React Group: COVID-19 decontamination/deep cleaning specialists | 1,788 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|---|---|---|---|
| 15:53:26 | 86.80 | 11,520 | 9,999.36 | O |
| 15:30:17 | 86.80 | 1,146 | 994.73 | O |
| 14:24:35 | 86.00 | 1,000 | 860.00 | O |
| 14:12:20 | 86.00 | 530 | 455.80 | O |
| 13:51:52 | 86.00 | 750 | 645.00 | O |
| Top Posts |
|---|
Posted at 13/12/2024 08:20 by React Daily Update React Group Plc is listed in the Bldg Clean & Maint Svc, Nec sector of the London Stock Exchange with ticker REAT. The last closing price for React was 87p.React currently has 21,551,760 shares in issue. The market capitalisation of React is £18,750,031. React has a price to earnings ratio (PE ratio) of 378.26. This morning REAT shares opened at 87p |
Posted at 09/12/2024 08:19 by rivaldo This from Simon Thompson's Alpha company tip for REAT from only just over two months ago provides a satisfactory answer to the above (very easy to Google for yourself in just a few minutes btw...):"The typical contract length is around 12 to 36 months in the LaddersFree business and three to five years for Fidelis. Importantly, the terms of the contracts allow for the pass through to clients of inflationary increases in items such as the minimum wage, protecting React from being hit by unknown future input cost pressures when it enters contracts." |
Posted at 02/12/2024 09:26 by rivaldo Historic revenue and EBITDA to Sept'24 were slightly below forecasts, and Dowgate and Singer's historic EPS to 30/9/24 were just tweaked down a tad to 6.7p and 6.6p EPS respectively.Such tiny variations aren't enough to bother me. Similarly, MB has explained several times over that the placing for the LaddersFree acquisition was originally at a much higher price, but circumstances (Covid etc) conspired to cause the final placing price to have to be completed quickly and at an unfavourable price. Aquaflow does indeed look like a very good business bought at a decent valuation. Forecasts for this current year are now at 9.4p EPS/9.3p EPS, rising to 11.6p EPS/11.3p EPS. |
Posted at 24/11/2024 19:16 by effortless cool Just catching up on this one. Seems to be the same old story - a miss against forecasts distracted by an outsize acquisition.I don't think that REAT have ever hit their forecasts. Now we have revenue of £20.7m against a Dowgate forecast of £21.3. They really do need to get their act together. Last time the acquisition was LaddersFree. A good company yes, but a transaction done on terms that destroyed value for those shareholders that were not given the opportunity to participate in the prior placing. (We have still not recovered to the heady pre-consolidation levels of over 2p per share). Now its Aquaflow. This looks like a decent business being bought at a decent price, but it is too big for React's balance sheet and the same group of institutional investors that management let screw over other shareholders in 2022 is in on the act again. I'm going to update my model over the next week or so and I dare say that there will still be value to be had here. I am concerned, however, that this business seems to be run for the benefit of Mark Braund and a small group of institutional shareholders, rather than the entire shareholder base. |
Posted at 04/11/2024 10:35 by rivaldo Appreciated vikingben (OT : good results and outlook from CSSG today if you're interested - another small cap on a v.cheap ex-cash multiple).More new recent highs at REAT this morning. As well as Dowgate, Singer Capital also updated after the new acquisition. They've raised their target price to 135p (from 120p) and say Buy. Here's extracts from their summary - they now forecast 9.3p EPS this year and 11.3p EPS next year: "Significantly earnings enhancing acquisition React has acquired 24hr Aquaflow Services for a consideration of £5.0m plus contingent consideration of £2.4m. This represents a multiple which is capped at 4.3x EV/EBITDA. 24hr Aquaflow Services is a drainage and plumbing company operating in a complementary sector with similar customers to React. It is profitable (£1.2m EBITDA last year), high margin (56% GM, 19% OM) and cash generative. The acquisition expands React’s service offering, as well as significantly enhancing its earnings. The consideration is funded by a mix of equity, debt and React’s own cash, including a £1.1m equity raise and a new £3.5m debt facility. We increase our FY25/FY26 EPS forecast by 22%/31%. This leaves the Group trading on a Sep. ’25 P/E rating of 8.7x, falling to 7.2x, which we see as very undemanding. We raise our TP to 135p (12x Sep. ’26 P/E) and retain our Buy recommendation." "Significant earnings enhancement The acquisition significantly enhances React’s earnings. We estimate an EBITDA contribution of £1.1m in FY25, driving a 36% upgrade, and a contribution of £1.4m in FY26 (first full year), driving a 42% upgrade. This is intended to be a conservative approach and compares to EBITDA performance targets of £1.6m in year one and £1.725m in year two. Post the impact of the equity raise, we estimate that the acquisition would add 22% to our FY25 EPS forecast and 31% to our FY26 forecast. Shares trade on 8.7x P/E post deal The earnings enhancement leaves React trading on a Sep. ’25 P/E rating of 8.7x post deal, falling to 7.2x. Its three year average FY1 P/E rating is 10x. UK FM peers trade on an average c.12x P/E, whilst larger, internationally listed peers trade on c.25x. We target a Sep. ’26 P/E rating of 12x to drive our 135p target price (upgraded from 97p). This underpins our Buy recommendation." |
Posted at 01/11/2024 10:40 by rivaldo FYI here's Dowgate's summary from their 29th October update, where they raised their forecasts for this year by 16% to 9.4p EPS and next year by 30% to 11.6p EPS:"Transformation now; firepower for tomorrow React Group is acquiring 24hr Aquaflow (drainage & plumbing services) for an initial £5.0m consideration with the potential, subject to hitting certain EBITDA levels (that are not factored into forecasts), for that to increase by an extra £2.4m. The upfront consideration represents 4.1x EBITDA, for an attractively profitable and high margin business. The purchase extends React Group’s range of services and brings opportunities for the management to market other Group services to a host of new clients. Taking the acquisition, £1.1m equity raise, accompanying FY trading update and outlook into account, we increase our FY 2026E EPS by c30% (the first full year). Prior to this deal, we highlighted in our April 2024 initiation note, that the Group had the capacity to make an enhancing move of this magnitude. We take this opportunity to also highlight that as this Group de-gears into 2026E, it should once again be able to make a similarly enhancing move. Based on the returns we expect from the current business, we raise our TP to 120p (from 100p); but there is more organic and particularly acquisitive growth to come" "We are raising our TP to 120p (from 100p) for React Group. This is as a result of the acquisition of 24hr Aquaflow and the inclusion of it into our EVA® and related MVA valuation method. This derives the theoretical share price of 120p per share, assuming the Group reaches an annual free cashflow per annum of c£3.5m by 2028E. Clearly, should the Group be able to attain its medium-term target of c£5m p.a. of free cashflow generation, then greater upside can be realised. With the valuation of this fast growing and cash generative group projected to reduce to just a little over 4x EBITDA and c7x PER by 2026E; we believe the shares are undervalued." |
Posted at 28/10/2024 15:16 by rivaldo This is a terrific deal imho.Singer have raised their forecasts to 9.3p EPS this year and 11.3p EPS next year. Which makes REAT look very cheap indeed imho. Today's acquisition is: - highly earnings-enhancing - a cheap acquisition multiple - lots of recurring income - lots of synergies via REAT's recent digitisation/new computer systems - founders staying with the business and incentivised with contingent consideration - existing large shareholders Octopus, Dowgate and Harwood all buying more shares - the placing was at almost no discount - and was "heavily oversubscribed" And we all know how in demand plumbers and drainage enginners are - this demand is only going to increase assuming the weather becomes more volatile and extreme. The "at least" £2.4m EBITDA for the year just ended may be a touch behind the £2.5m forecast, but this is completely immaterial, especially given today's news. |
Posted at 06/9/2024 09:03 by rivaldo The investment company ONWD have this morning just release their (rather impressive) interims.They own £1.42m of shares in REAT - 5.8% of their portfolio - and they had this to say today: "React Group plc (REAT LN) - Date of first investment May 2023 With React we believe we have captured a defensive growth opportunity at a value price, and invested c.6% NAV into the company. It is a business the team have been researching since September 2022 (pre-launch) and was an early pipeline priority. Through a mix of specialist cleaning services for UK corporates, the business has a highly attractive earnings profile. The business has three core divisions: 1. React - the heritage of the group, reactive specialist cleaning often needed for emergencies or callouts requiring specialist cleaning techniques; high margin but less predictable. 2. LaddersFree - large glass pane and cladding cleaning for UK corporates, executed through a capital-light membership model. 3. Fidelis - contract cleaning focused on public services. The business operates over 80% of its sales on contracted terms of one to five years and has been organically growing at 17%+ per annum for the past four years under a new management team. Sales are highly cash generative and yield a high contribution margin, whilst CAPEX, depreciation and amortisation are all insignificant. Crucially now, as a result of a mix of organic and acquisitive growth and the upcoming cessation of deferred consideration payments, the business is beginning to generate strong profits and free cash flow growth from contribution margin as it exploits inherent operational gearing. If one were to look away for a moment - not knowing the company cleans large glass facades, rolling stock, and prisons - its characteristics mean it could easily be mistaken for a small, successful software company. Yet we have been able to acquire shares in React on forward P/E multiples of 6.5x - 8.5x." |
Posted at 18/6/2024 10:38 by rivaldo The Mello Monday presentation is excellent as usual. Some highlights:- "it's been a great start to the financial year" - "momentum has continued into H2" with a "healthy pipeline" - recurring revenues are now over 85% - "we're ready for M&A activity again" - revenues have grown organically at 24% per annum for each of the last 4 years - Fidelis have grown their revenues from £4.8m to £12m since acquisition - Laddersfree are growing revenues by 30% and have added 7 new nationwide customers in the last 18 months - REAT looked at 40 other opportunities before buying Fidelis - acquisitions have to be earnings-accretive in the first year - REAT are likely the only company who can provide their services nationwide - "now extremely cash-generative" as final payments have been made for the acquisitions - REAT is a "very defensive business", with customer expenditure being non-discretionary - the rating is undervalued - minimum wage increases are already built into contracts |
Posted at 30/5/2024 20:34 by tole https://masterinvest |
Posted at 28/3/2024 09:39 by gbenson1 Very positive trading statement, if the share consolidation is approved at the AGM (we should know about 1400 hrs) @ the current share price it should be worth 67.5p on the opening on Tuesday after the bank holiday. With only 21m+ shares in issue I suspect we should see an upward movement in the share price @ the open!! |
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