Sondrel (holdings) Share Discussion Threads

[xajorkith] 07/5/2019 14:50

All time high as well :-)

Looking very strong ahead of next week's interims.

[rivaldo] 07/5/2019 14:48

New highs now.

[rivaldo] 03/5/2019 08:45

Apeman, it is indeed lovely and quiet here - which is often a feature of the best quality companies :o))

However, there are some others who've been following SND for a while, including Investors' Champion who've updated here post the latest acquisition:

[return_of_the_apeman] 02/5/2019 20:49

Quiet round here, even more noteable by the breakout confirmation at close today

I wonder what they have their new company working on? Those incentives will certainly focus the minds
:-)

[davidosh] 02/5/2019 18:13

Just to mention that Sanderson will be presenting at Mello2019 in Chiswick, London on Thursday 16th May
Mello is an event created by investors, run by investors and most certainly for investors. It is a ticket only event.

If you would like to come and meet and speak with tens of listed companies at the event and watch this presentation it will take place in the late afternoon at Mello2019 held in Chiswick, London W4 and further details here



If you want discounted tickets to attend then the best code to use is ADVFN30 and you will get 30% off the one or two day prices

[return_of_the_apeman] 02/5/2019 14:11

Not long now to the interims on the 15th and expecting new contract wins to be announced shortly following this aquisition ;-)

Solid business which is well on course to significantly exceed management and market expectations come September

[rivaldo] 02/5/2019 09:37

N+1 Singer say they'll update their forecasts after the interims, and say the acquisition "should also deliver healthy earnings enhancement in the first full year of contribution".

So they leave their forecasts at:

this year to 30/9/19: 8.1p EPS, 3.3p divi, £2.8m net cash
next year: 9p EPS, 3.6p divi, £5m net cash

[xajorkith] 02/5/2019 08:16

Yep, nice fit given the initial outlay & deferred, performance based cost.

Slowly but surely closing in on the previous high.

[rivaldo] 02/5/2019 07:18

New acquisition which looks good value at £3.2m for a historic £0.3m PBT, with much of the consideration deferred and dependent upon performance, and plenty of opportunities for cross-selling and other synergies:



"Commenting on the acquisition, Group Chief Executive, Ian Newcombe, said:

"We are delighted to welcome the Gould Hall directors and team to Sanderson and we are excited by the opportunities that will arise from this complementary acquisition which further strengthens the range of Group solutions and services available to customers within the supply chain logistics and distribution sectors."

[rivaldo] 25/4/2019 10:01

For the record, N+1 Singer's note post-update summarised as follows:

"H1 trading ahead of expectations
N+1 Singer view

"Sanderson has issued an update indicating that first half trading is ahead of management’s expectations with all group businesses performing well. Digital Retail continues to deliver double-digit growth, Manufacturing sales order intake has grown over 10%, and Supply Chain Logistics made a good start to the year. A positive outlook is supported by good sales order intake in the half, strong sales prospects for H2 and a healthy order book (c£8.0m).

Despite this trading strength, we are adopting management’s cautious approach given underlying economic uncertainty and make no changes to our forecasts ahead of interim results on 15 May. We continue to believe that the current valuation (FY 2019 EV/EBITDA of 8.4x, falling to 7.5x for FY 2020) fails to reflect an attractive combination of strong trading momentum, good revenue visibility, healthy cash
generation and a decent dividend yield."

"Impact on earnings & valuation

This is another positive update from Sanderson, highlighting the strength of the offering and the group’s market positioning. While management remains cautious in its approach given the economic and political backdrop, strong trading momentum,
a healthy order book, high recurring revenues and a robust balance sheet provides confidence that further progress will be made in the rest of the year.

Although trading is clearly tracking ahead of expectations, we are adopting management’s cautious approach and leaving our existing headline forecasts unchanged for the time being given underlying economic uncertainty. We will revisit our group and divisional expectations when H1 results are released on 15 May. The current valuation (FY 2019 EV/EBITDA of 8.4x, falling to 7.5x for FY 2020) looks highly attractive given strong trading momentum, good revenue visibility, strong cash generation and an attractive dividend yield."

[master rsi] 16/4/2019 11:19

The bid further up to 102p, looking good for a BREAKOUT

The last Intraday high was 103.50p, but already higher than the closing high 102.50p

[master rsi] 16/4/2019 10:05

All buys this morning and with that the bid price has improved to 100p

The latest buys paying 103.89p very close to the offer 104p price

[rivaldo] 15/4/2019 13:55

N+1 Singer echo WHI's sentiments, leaving their forecasts prudently unchanged at 8.1p EPS this year rising to 9p EPS to 30/9/20, with 3.3p and 3.6p dividends respectively.

[rivaldo] 15/4/2019 10:40

WH Ireland today note the £3m+ cash pile and conclude as follows, noting that their forecasts of 8p EPS and 3.2p dividend are prudent and leave room for upside:

"Prudence dictates that we leave our FY2019 expectation unchanged this morning – given broader macro uncertainties. That said, if business confidence holds, the risk with respect to our full year expectations is certainly towards the upside. Our estimates look for revenue of £34.4m (FY2018: £32.1m +7.1% y-o-y) and WHI PTP of £5.4m (FY2018: £4.8m, +12.5% y-o-y), both relatively undemanding given the momentum seen in H1. EPS of 8.0p (PER: 11.8x) and DPS of 3.20p (yield 3.4%).

Sanderson expects to report interim results on 15 May 2019."

[master rsi] 15/4/2019 09:26

A remarkable rise in the operating profits
" operating profit ... increasing by over 30% to £2.8 million (H1 2018: £2.1 million)"
It was only expected around 20% increased

[return_of_the_apeman] 15/4/2019 08:05

Added 20k this morning, great statement, waiting for the brokers to sharpen their pencils

:-)

[xajorkith] 15/4/2019 07:45

Excellent update.

So a £50m software company making £2.8m in H1 alone, with over £3m net cash, a healthy order book / high recurring revenues, and a progressive dividend of 3-4%.

Far too cheap on 11x earnings.

[rivaldo] 15/4/2019 07:25

Excellent H1 trading statement - ahead of management's expectations....

The order book is up to £8m (from £7.6m at the year end), cash is over £6m, both divisions are growing at 10% or more, acquisitions are doing well - and the outlook is unusually confident:



"following the strong trading momentum built in the first half of the year, a healthy order book, high recurring revenues and a strong, cash backed balance sheet, the Board has confidence that the Group is well positioned to make further progress in the rest of the full financial year ending 30 September 2019. This will enable the Board to maintain its progressive dividend policy and continue to build shareholder value."

[alter ego] 12/4/2019 14:25

Reported buys and sells are so unreliable because the quoted mid price is often nothing like actual prices.

[master rsi] 12/4/2019 13:31

Are MMs playing games?

15 k sells v 11 K buys

only a difference of 4K more sells than buys and the stock is down 1p

move lower at 13.10 after a 6 K sell
the spread was very narrow till then 93.10 v 94.20p

Plenty more buys than sells yesterday, also in a narrow spread

[master rsi] 10/4/2019 16:51

A late report of 25K @ 95p

Most likely a buy order with limit 95p being fill during the day and reported as usual at the end of the day

[xajorkith] 10/4/2019 16:38

No problem Master RSI, easily done when you hold / follow several shares.

Very encouraging to see Alto Invest adding ahead of the TU.