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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Red24 | REDT | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 26.00 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 26.00 | 26.00 |
| Top Posts |
|---|
Posted at 28/12/2016 22:26 by integer Ditto here Norbert. My average was 8.5p. Just wish I had bought a few more at the sub 5p level but that's when the biggest risk was. Still, a very good outcome for investors. I wish the staff well within the expanded organisation, they could and should do very well there. |
Posted at 28/12/2016 21:51 by norbert colon Cash received in my account today. It's been a very good investment since Sep 2011 initial purchases at prices as low as 10.5p. As usual I wish I had held onto all the ones I originally bought. Thanks to all the investors on this thread who contributed. |
Posted at 28/8/2016 08:52 by norbert colon MrChrissSo you have sold at circa 21p on the basis that 26p undervalues the the company? Im sure investors would be keen to understand the logic applied to that decision. |
Posted at 01/7/2014 12:24 by sladdjo FYI - apparently from Shares mag. The market has misunderstood the figures connected to Red24's (REDT:AIM) sale of its 25% stake in training business Linx. The unit contributed £173,808 to operating profits last year, according to accounts published by the firm (17 Jun), so a sale price of £375,000 does not on the face of it appear to be a particularly good one, equivalent to a multiple of profits of just over two times. But the first figure includes a £114,000 fair-value adjustment and some legal costs, so underling profits were actually £54,000 meaning the unit was actually sold at a much-better multiple of 6.9 times. Frustratingly, none of this detail was included the published accounts on the day, hence why investors were right to be confused, precipitating a 15% share price sell-off. While clarity may help calm nerves, the loss of the unit has pushed earnings forecasts back a year with house broker Finncap's previous 1.8p March 2015 earnings per share (EPS) forecast now on the slate for 2016. The new March 2015 EPS forecast is 1.5p. Sentiment is understandably poor towards the stock, but we remain bullish longer term and believe investors should stick with Red24. It has invested for growth so the next stage is converting that into new business. We are encouraged by a good start to operations in Germany. |
Posted at 06/6/2014 14:16 by davydoo It's tax related, they're pretty open about it. Simon Richards writes some of the clearest, honest summaries I have seen as a small cap investor. |
Posted at 20/3/2014 14:00 by dashton42 Been in since last year, BB2, courtesy of a screen I ran. The fundamentals looked good then, and they still look good to me!This is exactly the sort of small company I love; largely off the radar of most investors, but with a steady track record. |
Posted at 14/11/2013 08:13 by pjhutchy Yes a good set of results. A decent little company this. Off the radar as well. No brokers follow it at all. Good for the small investor |
Posted at 06/8/2013 16:23 by sladdjo Notes from today's AGM:As mentioned in the update this morn, ytd trading going well and ahead of expectations, but mainly due to response work. REDT has recently signed a number of small contracts, but nothing material and hence hasn't published an RNS on them. The resolution to repurchase 500,000 shrs is mainly for staff who wish to sell their shares and is there in case the market can't take them. However, Maldwyn noted as an aside that several institutions had looked at Redt and liked the story, but weren't prepared to purchase shares on the market as they small amount wouldn't move their (the funds) respective values. So there may be an opportunity to directly link staff sales to investors, if the numbers match. David Gill was present and spoke about the tie-up between Redt and Linx. He feels that Ark and Perpetuity (Linx's training program) are 2 of the largest security training programs, altho their mrkts don't overlap much. Hence he hopes to combine them, maintaining their respective names/brands but creating efficiencies throu economies of scale. Also notes that Linx is similar to Redt in that it provides Crisis Mgmt to large comps (in particular Weetabix, Samsung & Royal Mint) and hopes to make resources available to Redt. The end game, if goes well, would be for Redt to take over Linx. |
Posted at 13/6/2013 06:45 by davydoo I attended the Red24 presentation at Mello last night and had a chance to talk afterwards with the chairman and major shareholder Simon Richards. My thanks to davidosh and the other organisers for an excellent event.The CEO Maldwyn Worlsey Tonks gave the presentation, thankfully he focused on the business and not the numbers as these were available for all to see from Tuesday's results and have already been well summarised here by Glasshalful My perspective is from that of a shareholder of 3 years, I would be very interested to hear from anyone who attended last night who was new to Red24. -The company is repositioning itself towards 'crisis management assistance' and away from security. This fits with its growing portfolio of food, recall and environmental services and is intended to distance themselves from market perceptions of security as guarding, physical locks etc. -Advice Support Response. This was described as the model to build products for clients. I understood this as a someone who knows the company, but im not sure this would have come across well to a potential investor just asking 'so what do you do?' ultimately red24 are a small company but doing many things in many places. One minute they talked about 1.5m HSBC customers the next hiring 1 person to run a new product. Id be interested to hear how this came across to potential investors. -Talent. Described the approach to in source talent, build a service, retain global contractors and roll out to underwriters. Interestingly theyre being asked by insurers to do things, and then taking it to other insurers. Whilst intuitively insurers wanted exclusivity they subsequently realise they get a better service and price if shared with other insurers. In a market where competence and confidence must be crucial this bodes well for future services. -HSBC. Confirmed significance of contract extension.(warranted a standalone RNS I think) 20% of current revenues, down from a previous high of 50%, which is testament to the growth in other areas. Implied 4 year extension which I presume means the 1 plus 3. HSBC pay monthly in advance. Now an 8 year long relationship (boy did HSBC take a risk previously) and are looking at introducing to other countries. -Security response. (£1.2m revenue in 2012, £568k in 2013) is only budgeted for modestly as they have no control over events. Interestingly what I had assumed was Arab Spring related response revenue in 2012, was actually largely achieved from Mali (pulling people out, in and out again of gold mines) and DRC. Although they still got 400 people out in the Arab spring. Growth forecasts from Finncap may appear modest but at least can be beaten by any increase to response work. This is much better than warning the market because no events occurred. One of many prudent measures I sense throughout the management. -Acquisitions being considered however I would suggest unlikely in short term, the process of in sourcing niche talent to run a new product line and then expanding it to many underwriters seems to be working and they see further opportunities this way. -Cash. £2m might seem idle to a small cap promising growth, but for me another sign of the prudence of management. £1m is needed as a cash reserve to prove to insurers they have the financial capacity to respond and meet obligations. e.g. Chartering a plane to go into Syria needs paying before they'll take off whereas the insurer may take many months to pay back to red24 as part of the claims process. Although they've hired credit controllers in an attempt to improve receiveables. Also a poor financial position in the past has caused them to fail due diligence from major banks/credit card/insurers. This is understandable, and I feel that the 5 year track record they now have will be significant to winning new contracts. -Green24 yet to add revenue, however it has very low overheads (1 person) and they intend to continue for at least another 18 months. Described the low intensity of managing an environmental website where articles can be valid for a long time compared to a security website where changing situation may make information only useful for a few hours. They are seeing growth in environmental consultancy work. I always expected Green24 to work this way, not as a website with a subscription revenue, but as a back up to credibility in the environmental space. An environmental crisis is much like a food recall or KRE event, it is the management and response skills that are needed. -Major contracts. Fascinating to understand more about the way they contract. HSBC pay a fixed fee for an all inclusive service. AIG pay a retainer, and then pay again if response is required. This is potentially a big risk for Red24, they are in effect acting as insurers themselves and have to cover the risks and costs of 1.5m HSBC customers. Thankfully HSBC premier customers on the whole are not a wild bunch, so its more like the odd police altercation in Bangkok than kidnaps in Somalia. -EPS. Simon confirmed the limited growth in EPS due to the increasing tax charge. This is nearly exhausted and so they expect any future rise in profit to be fully reflected in a rise to EPS. I think its important to understand this now, will future analysts or private investors look deep enough? or just see a stalled and then rising eps. -Arc Training. Only mentioned briefly, I suspect its largely stand alone, described the limited 20% margin compared to other business areas. I did wonder whether it could be sold, however it delivers a consistent revenue stream and I suspect supports the wider credibility of the firm, and keeps them very well connected. How many people out there managing the security of major organisations must've been through an Arc course? it would be hard to measure, but one of those 'dividends' you don't see on a P&L. -Employee Share Plan. Afterwards I suggested to Simon they should make more of this to investors. They have a deep employee share ownership going back many years. Something that I have never seen in other micro caps and is worth shouting about. -Timing. This to me is the most significant prospect for Red24 now. The financial position should no longer scare off any decent due diligence. This might've taken 5 years but they haven't stopped talking to potential clients (only so many big banks/credit cards/insurers out there) when a credit card offer an added service/benefit to members they don't do so lightly, and usually do so for at least 3-5 years. This means even if a red24 service is liked they may have to wait until next review of added services in many years time to do a deal. I'm sure there's more I can add, I will if I think of anything significant. apologies for any typos/errors, it's still early. I hope its useful and very interested to hear comments from other attendees |
Posted at 11/6/2013 22:22 by glasshalfull SnapshotPrice 14.37p Shares in issue 49 million Current market cap £7 million Net Cash £1.6 million (following £800k spend on acquiring freehold of their Cape Town office) EV £5.4million Net Cash position:- 2009 - £328k 2010 - £938k 2011 - £1.2 million 2012 - £2.07million 2013 - £1.6 million* H1 2013 saw REDT purchase freehold of their S African HQ for £800k & removing £80k annual rental payment. Progressive Dividend:- 2009 - nil 2010 - 0.15p (maiden dividend) 2011 - 0.24p (+60%) 2012 - 0.32p (+33%) 2013 - 0.4p (+25%) and 0.2p dividend announced today (technically Final dividend for 2013) as they move to interim & final dividend payouts for 2014 5- years profitable growth:- PBT 2009 - £537k 2010 - £628k (+17%) 2011 - £742k (+18%) 2012 - £863k (+16) 2013 - £940k (+9%) EPS growth affected by utilisation of tax losses, with tax showing incremental increase each year:- EPS (diluted) 2009 - 0.95p 2010 - 1.4p (47% growth) - nil tax 2011 - 1.50p (7% growth) - 2.4% tax 2012 - 1.53p (1.5% growth) - 13.5% tax 2013 - 1.54p (-) 19.4% tax Also worth pointing out that the company has not had recourse to the market to raise funds in the last 5 years and have focused solely on organic growth. One of my main concerns was alleviated today with news that the HSBC contract is tied up until 2017. I believe that the AIG and HSBC contracts amount to c.£2m per annum. This underpins the growth ambitions of the company and move into other markets such as the cyber-crime service for insurers, where they remarked having went live with their first insurer in April 2013. Outlook was also very positive & I'll be interested to see finnCap's forecast in light of these strong results. Well done to davidosh in organising an investors presentation and we PI's owe him a debt of gratitude for his sterling efforts in bringing these events together. Unfortunately I cannot attend & recognise I'll be missing an excellent opportunity to meet the RED 24 team and hear of their plans. Hope some PIs from the thread can attend and as always would appreciate any feedback or perhaps broker note (many of you have my email) & any change to previous forecasts if anyone is in a position to report back. Regards, GHF |
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