Spring Grove Share Discussion Threads

[tyranosaurus] 18/4/2002 18:35

Still on the rise!!!!
Still good value IMO.

[tyranosaurus] 16/4/2002 11:00

2 BUYS TODAY.
The price keeps ticking up.

STILL NOT A SINGLE SELL!
Where is the stock coming from for these buys?

[simonevans] 13/4/2002 13:53

Looks like some interest in this stock at last. The company is a solid performer, but I think it will take time to get really noticed as a company. Patience will be required, but for those that invest it might be looking quite good in 2-3 years from now. As always DYOR!

[tyranosaurus] 12/4/2002 21:18

This must be the first day for ages when there has actually been any trades.
This stock definitely needs more publicity.
I think the company should make announcements when they get new contracts so as to keep a flow of news.
I have been in since Ofex float and intent to stay in as I think this will be eventually rewarding for the patient investor.

[wholden] 12/4/2002 15:19

looks interesting, now on monitor.

[james8] 12/4/2002 09:33

Given a good write up in todays IC.
House broker Shore Capital expects sales of £7.5m and profit of £400k for yr to 31/1/02
I bt in this morning

[salar] 29/1/2002 18:50

Anyone got any figures for these ? There are no forecasts on HS and all I can find is this from yahoo:



Assuming there are approx 10m shares in issue and that they made 200k last year, this equates to around 2p eps.

I take it that Simon (above) is expecting a doubling of profits+ this year to give eps of 4 and PE of ten.


I like this kind of company having held or presently hold Mears, Parkwood and others in public sector support services businesses.

TIA for any info - its thin on the ground on this CO.

edit - heres a little more, from the D Mail site on 6 Dec. First half results certainly back up possibility of 4p or more for full year.


'SPRING Grove Property Maintenance, which provides repair and maintenance services to social housing owned and managed by registered social landlords and local authorities, is moving from OFEX* to AIM. The OFEX quote has been suspended since 9 November and the company has now completed a placing* of 6m ordinary shares at 40p a share to raise £2.4m.


The issue was oversubscribed and priced at the top end of the range. Profits for the six months to end of July at £197,000 compared with £199,000 for the whole of the preceding year. Three new contracts have been won since the end of July and the directors are confident of a successful outcome for the year ending January 2002'

[tyranosaurus] 26/1/2002 19:16

I will be following this board having invested in the original Ofex float at 50p per share.

[sinso] 09/1/2002 22:24

Simon...you may be interested to know that one of the investors is Unicorn AIM VCT managed by Peter Webb of Eaglet Trust fame. They have put in £250K as one of their frst investments.

[simonevans] 24/12/2001 16:49

This looks a good stock pick to me - I have recently bought some and might buy some more. The company has a strong track record, but struggled to make the step from Ofex to AIM. Eventually Shore Capital supported them and their PUMA II fund also picked up a million shares in the placing. In my view this company has already proved itself worthy, but was largely overlooked until Shore Capital came along. Profit growth looks like it was adversely effected by the use of a very expensive debt factoring facility - this will no longer be required with the £2.1 million placing - this alone should result in a £150k or 1p improvement in earnings next year. Add-in the fact that: 1. recession proof. 2. customers are Registered Social Landlords. 3. Strong revenue and earnings growth and 4. Now backed by a decent broker (Shore Capital) this looks good value - must be on less than a p/e of 10 for next year, assuming no mishaps. As always DYOR, but one of my tips for 2002. Any views?