Stenprop Investors - STP

Stenprop Investors - STP

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Stock Name Stock Symbol Market Stock Type Stock ISIN Stock Description
Stenprop Limited STP London Ordinary Share GG00BFWMR296 ORD EUR0.000001258
  Price Change Price Change % Stock Price Last Trade
-0.25 -0.16% 152.25 16:35:06
Open Price Low Price High Price Close Price Previous Close
151.50 151.50 154.50 152.25 152.50
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Industry Sector

Top Investor Posts

oshy92: Short TV interviews with CEO, FD and Exec Property Director below: (CEO) (FD & Property Director)
cwa1: Well, eyes down and fingers crossed for the 12th NOTICE OF RELEASE OF FULL YEAR RESULTS 29 May 2020 Stenprop, the UK multi-let industrial ("MLI") property company listed on both the London and Johannesburg stock exchanges, will announce its financial results for the year ended 31 March 2020 on 12 June 2020. A webinar for investors and analysts will be held at 9.30am UK time and 10.30am (SA time) on 12 June 2020 via Zoom conference. For those wishing to join the webinar, please register prior to or on the day of the webinar
playful: "Of course, nobody really knows who the future occupiers of industrial space will be. However, with the ONS recording that the number of small businesses in the UK has grown by 69% since the turn of the century, we are confident there will be plenty of demand for industrial space from a diverse range of occupiers for some time to come." hTTps://
longshanks: One dat slipped thru da net. Firm is looking at several purchases, says chief executive Alastair Mills SpiriTel is targeting larger acquisitions in an increasingly aggressive drive into the converged solutions space. Speaking to Mobile, SpiriTel chief executive Alastair Mills (pictured) said the company is looking at several acquisitions, which could even include buying a company 'much larger than SpiriTel'. SpiriTel's combined strategy of acquisition and organic growth has seen the company's business division, which consists of mobile, fixed line and IP services, expand rapidly. Reporting its results this week, the group revealed revenue of £21.3m – 6% ahead of expectations – and EBITDA 7% ahead of estimates at £1.6m. Most of this growth lies in the business division, where revenues were up 71% to £17.7m and underlying EBITDA up 70% to £3.1m. SpiriTel's acquisition drive is backed by funding from equity investor Penta Group and Clydesdale Bank. Mills looks at around two potential acquisitions each week, and claims to regularly receive approaches from mobile, IP and fixed lines firms interested in selling. SpiriTel's mobile connections were recently swelled by its latest acquisition, Housing Communications Limited (HCL), in May. The Shropshire based mobile reseller, which centres on the Housing Association market, brought over 15,000 mobile connections to the Group's mobile business. SpiriTel aims to cross sell into HCL's customer base. Mills said: 'That's what our strategy is all about – cross selling mobile, networks and IP services to existing and acquired customers. This strategy of providing a complete business communications portfolio to our customers has generated significant organic growth of around 15%.' Responding to industry rumours that SpiriTel may become an acquisition target, he said: 'I would be disappointed if there was not some financial interest in SpiriTel. In a rapidly consolidating market you have to keep eating or be eaten, but we want to keep eating. We have a machine that really works and there is no reason to exit right now.' Second and last paragraphs make interestin readin. I is buyin more n more of dese muvvas. Cheap as chips.
martin44: longshanks - I am with you on this one currently disappointing but still the opportunity is being missed by investors I would suggest....
longshanks: I agree; with the drip, drip, drip away of support this is difficult to continue holding. However I am going to endeavour though it flies in the face of most short-term investment logic. The price movements have little if anything to do with the company's viability though...and I think you are a tad naughty to suggest this oracle28. If people sell and no-one buys, the price is only going to go one way...and it seems not many people are buying this story yet. Equally not many people are actually selling the story - so whatever weakness we are seeing is quite vulnerable to a market shock. The 40p resistance is also very strong given it is the placing price for the convertible loans. Results are due in a few weeks time we should be in a better position then to see where this is heading. But with solid backing from core investors and their bank giving them such a sizeable loan facility, I am betting that things are much better than you believe. I expect the company to still have made a loss for the last FY but for current trading to be profitable.
longshanks: Daisy group have announced results this morning for their 15month period since starting their own active market consolidation. They have EBITDA of £11m for the 15 month period and a market cap of £272m. There is a presumption that EBITDA will improve as they digest their acquisitions but the current market cap represents a multiple of 5.3 on the 15 mth gross profit figures (£52m) which prices them pretty highly when compared to STP. STP is looking at having gross profit of around £10m for the full year (£12.5m for 15 months). Admittedly the scale of STP's growth is less ambitious than that of Daisy but still, if you apply the same multiple on gross profit over a 15mth period a similar market cap for STP would be £66m or £3.70 per share. That said we need to also consider STP from a different perspective: the acquisition rather than investment case. Currently acquisitions of smaller (subscale) telco's are priced at 4.6 times EBITDA (both by STP and DAY). I calculate that current underlying EBITDA for STP is around £5m, so that would put an "acquisition price" on STP of £23m if STP were forced sellers. As business is growing for STP, they are not forced sellers and they represent a significant competitive pressure to DAY in the business telco market. More importantly though they are an increasingly irritating competitor in making decent acquisitions of those smaller, subscale telco's. Given this a premium would need to be applied to any STP takeout. I think a multiple of 2 can be applied giving a value of STP to DAY of around £46m or around £2.70 per share. In both valuation examples (investor and takeover case) we need to consider the underlying debt which conservatively accounts for around 80p/share. I therefore estimate a fair valuation on STP of between £1.50 and £2.50 per share. Like I said above, these are cheap as chips. They are unloved and untrusted. Love is fickle though and when it returns these will appreciate handsomely. The market needs to be convinced that STP can hack it in the competitive telecoms environment but the strength of support from both Clydesdale bank and their largest shareholders, is indicative that this confidence will return at some point.
profiting: As stated previously the only downside on this company is that their financial PR is not very good. They need to get the message out to investors and therefore this will improve demand and create a re-rating. Alternatively this will hopefully happen upon results.
profiting: Again let's hope so and soon this company will begin to get some attention.One thing that appear to be poor at is investor relations and getting their story across to the city institutions which is key for any quoted company if they are to increase their market cap. True performance will eventually shine through but it would do no harm to sell the story.
oracle28: Also a new message from the CEO........ MESSAGE FROM THE CEO As the communications market has evolved in recent years, so has SpiriTel. As businesses have been assessing the opportunities that arise from 'converged communications', SpiriTel has been focusing on developing a robust business model that offers value to both customers and investors. It has been an incredible few years for the Group. We have restructured our business to focus on long term relationships with business customers and brought together a board and management team focused on delivering sustainable growth in this market. We have acquired and integrated eight businesses into the Group and grown our customer base and product portfolio to record levels. We now have over 2,800 SME and corporate clients, including Whitbread and BBC Worldwide. I am particularly pleased with the progress we have made in delivering products and services based on emerging IP technologies. The VoIP hype of the last decade has left behind a number of casualties but we have built upon our strong foundations in IP based communications to deliver a new range of networking, Wi-Fi and VoIP services alongside our traditional voice and data product portfolio. We are enabling our customers to provide an improved service, reduce costs and increase business efficiencies through the adoption of these technologies. Our recent awards are testament to our standing as one of the UK's leading providers of IP based communications services for businesses. If you are visiting our site as an investor, I hope you find a company that has delivered on its promises, having developed a robust business model with increasing earnings visibility and exciting growth opportunities. If you are here as a business customer, looking for either traditional or converged communications services, then I hope you find the products you are looking for; all of which are backed up by a focus on excellent customer service - a constant theme behind our recent successes. Whilst remaining challenging, these are also exciting times for the communications industry, and I am confident that SpiriTel will continue to capitalise on the opportunities for growth that we are seeing and maintain our market leading position. Many thanks for visiting the website - I hope you find what you are looking for. With kind regards Alastair Mills, CEO
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