Sondrel (holdings) Share Discussion Threads

[stegrego] 04/5/2011 12:30

Clearly some dont think this is value on a p/e of 5.

Odd market. As usual.

[topvest] 22/4/2011 08:09

Commodities - but they will eventually get burnt. This is a great little company and should deliver good returns over the medium term, particularly after the debt is repaid.

[envirovision] 21/4/2011 22:30

In reality 60p would seem fair, this is the worrying thing about the market. I mean where is the smart money ?

Certainly is not finding its way to undervalued smaller caps that's for sure.

[battlebus2] 20/4/2011 21:16

JUST LEAVING THESE IN THE DRAWER TILL 40P.

[envirovision] 20/4/2011 08:09

On target for eps well of 5p, 6p next year. On a fwd Pe UNDER 5.

Any reason why?

[topvest] 11/3/2011 21:25

Yes, a good update - 9 new customers in 2m is pretty impressive stuff and shows that Sanderson are still winning in the market place. They are a quality company and shareholder value creation looks a good prospect here over the medium term.

[battlebus2] 10/3/2011 13:38

Guys the main thing is the company is progressing well and is still undervalued.

[stegrego] 10/3/2011 13:23

Good riddence

[envirovision] 10/3/2011 13:20

Stegrego

filtered

[stegrego] 10/3/2011 12:53

Well if you put these two bits together:

'Sanderson has a robust business model with pre-contracted recurring revenues accounting for over half of total turnover'

and

'Across the Group, nine new customers have been gained in the current financial year up to the end of February, compared to 28 during the whole of the previous year'


it doesnt read badly.

[edmondj] 10/3/2011 12:45

Probably the key word is a "steady" start to the year.

[cb7] 10/3/2011 12:42

yep, the statement sounded positive, but perplexed about the 9 new customers to end of Feb compared to 28 all last year.... err 5 months gone and just 9 customers... thats a worse ratio than last year... perhaps it was a typing error and it should be 19, or the 28 should have been 18????

[stegrego] 10/3/2011 12:16

Very suprised this is down after the AGM statement, which read reasonably bullish. Yes gearing is fairly high but they are paying it down quite quickly.

P/E is 5 on current forecasts.

[envirovision] 10/3/2011 11:45

Its time for me to buy back in with a medium term view so I have just done so. I am surprised no comment here on AGM.

Steady as she goes, targets currently on course to be met, i.e eps 5.1p prospective PE Ratio is just 5.5 and the PEG comes up as 0.06 wow what a bargain this is. Talking of the PEG it seems the growth is all organic and the debt is being quietly erased over time.

This company is getting itself into such a great shape, its such a total bargain.

In a few years time once all the debt it eradicated and new product and service growth is proving itself along with chunky dividend growth, everyone going to want these shares and the price could be anywhere between 70 pence and a pound.

[cb7] 04/3/2011 08:09

AGMs supposed to be on the 10th this year

[battlebus2] 03/3/2011 18:57

Strange couple of trades changing hands at 25p. 400k each. A bargain for the buyer.

[battlebus2] 21/2/2011 21:23

He may have moved on. I'm happy to hold long term even though this has taken longer to reach my target of 40p. Not bothered by pension deficits or intangibles as long as the cash generated continues to rise as per last accounts up 80% to 3.37 million. Shares maybe held back to see if the government cuts have any effect. AGM and trading update was on the 11th of March last year so not long till we see how they are shaping up.

[puku] 21/2/2011 17:05

Hi topvest - I agree "handsomely". Cant understand current share price at 30p. Previous eps 3.9 p and CR says forecast 5.6 but lets say 5 p gives PE 6. Chairman talked about "improved level of momentum" , orders up 22% with £3.96 from new customers. Bought twice and tempted again. Interesting CR hasnt visited for a while ?

[topvest] 20/2/2011 14:24

The pension deficit is a concern, but the accounting for it looks quite prudent and is largely caused by the movement down in the discount rate from 5.6% to 5%. This has a big impact on valuation of the liabilities. If they had gone for a more standard discount rate of 5.4-5.5% then things would look quite a bit better! Intangibles are irrelevant; yes they may have paid a little too much on one acquisition but that's history. Overall, I think this is a quality outfit, and we should be handsomely rewarded for buying shares anywhere in 20-40p range over the medium term.

[wheresthevalue2] 19/2/2011 21:19

Hi all

1) Does anyone have a concern with the pension liability (having gone up around 100% to 3.8m in 2010)

2) A more general question around intangibles. Do the write offs in the last two years indicate too high a price was paid in the first place? Also, does it matter to the health of the company and in what way?

Thanks in advance

[envirovision] 30/12/2010 09:36

Yes must confess they seem excellent value, I have taken some.

[topvest] 29/12/2010 17:13

Net debt at year-end further reduced by GBP2.12m to GBP7.84m (2009: GBP9.96m).

[cockneyrebel] 29/12/2010 16:49

5.6p forecast for this year.

CR