Restore Share Discussion Threads

[spooky] 21/11/2024 08:10

Statement strikes me as a classic case of a plan to under promise and over deliver.

[edmonda] 21/11/2024 07:24

"Management actions driving profit growth"

Link to research note:

Restore’s ten-month trading update reiterates profit expectations for both FY24 and FY25. Excellent progress is being made in delivering cost savings and driving profit margins, a clear priority for this management team. This has offset some market softness around the Autumn Budget as well as a £3m headwind for FY25 relating to increases in employer National Insurance Contributions and the National Living Wage. Absent these changes, we believe Restore would have been primed for an earnings upgrade looking into next year.

A recent investor site visit provided a reminder of Restore’s quality, as well as medium term growth ambitions. In our view, this is not yet reflected in an FY25 P/E rating of <14x.

We reiterate our 400p Fair Value estimate with confidence in the Group's growth trajectory.

[sphere25] 13/11/2024 12:58

If they have announced the update like that Gargoyle2, it should be in line with expectations. They would have warned already otherwise. Someone is definitely in the market chewing up big blocks of shares so maybe they have been given the nod that trading is going at least okay?

Those director buys suggest it should be strong too. Don't know if it is Harwood buying more ahead of the update, but someone has come in yesterday for big blocks at 265p with 570k and 700k.

It looks like they are still in the market and could be about to cause a breakout higher above 270p.

Being only in and out of the market of late, forgotten the detail here. I am sure there were some really bullish commentary going around about the margin recovery story here. Something very substantial, but others more tuned in can add....if anyone is about....it is like talking to yourself on these boards at times nowadays ha

Hello!

Looks worth a watch to see if it can breakout.

All imo
DYOR

[gargoyle2] 06/11/2024 11:29

Trading update here on 21 November. After the recent director buying (as high as 280p by the CEO) and Harwood increasing, I wonder if the update will be any good... Back to the recent share price highs soon imo

[edmonda] 28/10/2024 07:46

"Site visit highlights cultural change, focus on growth"

Restore held a well-attended investor and analyst site visit last week near Doncaster, taking in the new Markham Vale Records Management facility and a state-of-the-art Datashred facility at South Kirkby. The tours were hosted by local management and followed up by presentations from the Restore executive team.

No new financial information was disclosed, but the visit did provide a clear link between the previously stated Group growth and margin targets and the actions being taken at divisional level, with greater autonomy, to deliver against these stretching targets.

FY24 is important as a first step in the medium-term profit recovery story. We are forecasting double-digit profit growth, following a challenging FY23.

In our view, Restore’s share price does not yet reflect recent progress under the new management team or the upside potential of medium-term targets. We reiterate our 400p Fair Value estimate and look forward to a further update on progress in a scheduled trading update on 21st November.

New note here:

[pyglet] 17/10/2024 07:10

Hefty buy showing increasing confidence

[gargoyle2] 26/9/2024 20:27

RST getting some pre-budget turbulence, but a solid business imo. The CEO and Harwood adding gives some confidence imo.

[owenski] 04/9/2024 20:28

That CEO purchase is quite chunky at £280k

[wad collector] 04/9/2024 19:12

Another director buy has not harmed the share price , currently new one year high .Which in a slightly depressed AIM sector is not to be sniffed at.

[edmonda] 31/7/2024 06:39

Refocused strategy underpins rerating potential

Restore (AIM: RST) is the UK’s leading provider of records management, digitisation and secure recycling services.

The last twelve months have seen a management overhaul with the return of former CEO Charles Skinner, bringing a refreshed strategic focus to address a disappointing trading performance in 2023.

Restore is a high-quality business operating in markets characterised by high barriers to entry, recurring revenues, attractive margins and sticky customer relationships. Under a proven, driven and experienced management team, we see scope for consistent earnings growth over the medium term, which in-turn should see a rerating of the shares.

It is clear to us that the share price does not yet reflect confidence in earnings forecasts, or the upside potential of management’s medium-term targets.

We initiate coverage with a 400p Fair Value estimate which represents an FY25 P/E rating of 20x, in line with Restore’s historic average rating and peer group multiples.

[wad collector] 17/5/2024 16:13

Yesterdays unchanged TU has taken the share price to a year high. About time...

[pugugly] 14/3/2024 09:07

Personal marker at 215/220

[melody9999] 14/3/2024 08:12

Results as per TU - no surprises. Revenue at lower end - but net debt also at low end.

[melody9999] 19/2/2024 08:16

top sliced at 248p but added back today.

[market master] 08/2/2024 07:32

Should be a good day today here

[market master] 02/2/2024 10:33

Share price gaining traction with 6 out of 7 brokers saying BUY and with Berenburg saying price upgrade to 290 from 250

[melody9999] 25/1/2024 18:02

and with Charles Skinner simplifying operations and reducing cost.

[market master] 25/1/2024 10:20

Absolutely, and don't forget the £140m hmrc contract

[wad collector] 24/1/2024 21:04

Just noticed last week's In line TU.
Looks like the worst is behind the sp?

[eagle eye] 01/1/2024 12:42

Happy New Year to all shareholders.
Looks like 2024 should be a good year.
All very quiet here, just the way I like it.

[eagle eye] 18/12/2023 12:01

Director Buy this morning.
CFO doubles his stake from 25K to 50K.
Time to top up IMHO.

18 December 2023

Director/PDMR Shareholding

Restore plc (AIM: RST), the UK's leading provider of digital and information management and secure lifecycle services, announces that it has been notified that on 15 December 2023 Dan Baker, Chief Financial Officer, purchased 25,000 ordinary shares of 5 pence each in the capital of the Company ("Ordinary Shares") at a price of 209.34 pence per share. Following this transaction Dan holds a beneficial interest in a total of 50,000 Ordinary Shares.

[hpcg] 26/9/2023 20:30

Breaking out of the recent consolidation. Reasonable director buying, reversion of strategy, defensive / growth with companies reducing office space. Looks good to me :)

[cwa1] 26/9/2023 15:41

Frothy of late