Tclarke Share Discussion Threads

[f15jcm] 30/1/2020 13:38

The only thing I could find not to like here was the pension deficit but it wasn't enough to put me off. The valuation for a net cash business with everything heading the right direction is very attractive. An eye on industry drivers (carbon reduction) is a sign of astute management. No exposure to highways which is a blessing. I'm in!

[podgyted] 30/1/2020 13:07

Cenkos says it was £2m.

[cc2014] 30/1/2020 11:22

Hi Graham.

"The Group's cash position remains robust, with the year-end cash position at GBP12.4m (2018 cash GBP12.4m).

The deal will have been signed in the last day or so as T Clarke has a duty to inform the market with reasonable speed.


I would have thought the Gooee have asked for the value and percentage not to be disclosed. In the meantime I assume "small" to mean "nothing that significantly affects the on-going cash position of T Clarke". Perhaps a million or two. Perhaps not even that.

The Eton investment 18 months ago which was disclosed was £1.5m plus earnout if that puts things in context

[texaspete2] 30/1/2020 09:05

Great update today. Net of cash in bank the mkt cap is 45m. Annual profits of 10m this is incredibly cheap. I'd snap this up if I had the cash :)

[cc2014] 30/1/2020 08:17

Some really good stuff on Gooee on T Clarke website




And a video explaining what Gooee do

[effortless cool] 30/1/2020 07:57

A slight miss against broker consensus of £340m revenue and 17.7p EPS. Revenue was also below my own forecasts, but EPS and net cash were marginally ahead.

Outlook statement very positive but 2020 currently looks likely to be similar to 2019, rather than materially better.

I don't expect this announcement to do much for the price, but it does set a solid foundation for the next leg up.

[santangello] 30/1/2020 07:54

Cheers CC2014....

[cc2014] 30/1/2020 07:52

Profit beats by £0.2m (which is quite a bit when expectations were a rise in profits of £1.2m and you deliver £1.4m)

Cash beats by £2.4m (which is massive)

Order book up £42m (which is 11.6% in 2 months which is massive)


A strategic investment and partnership right in the sweet spot of what needs to be done for climate change


And you guys want to talk about whether Miton have any shares left to sell? For info Miton starting selling in Jan 18 when they had 17.7% of T Clarke. By Mar 19 they went below 5% so it's no longer notifyable. I know they are lower than that now and possibly zero but market opens in 10 minutes and don't have time to get my notes out. I doubt they have any left, maybe a few hundred thousand.

[santangello] 30/1/2020 07:45

Looks like Miton currently hold 4.94%.

[santangello] 30/1/2020 07:40

They were around 5% and reducing from early 2019, apologies for not knowing for certain their current holding, but the share price has been artificially held for some time whilst a distressed seller has been operating.....it is only my assumption that it is Miton.Perhaps the more clued up can either confirm or trash that assumption.....

[rounder2] 30/1/2020 07:30

Miton are sellers of CTO ??

[santangello] 30/1/2020 07:13

Expect the share price to be held back perhaps with MMs wary of Miton waiting in the wings to scoop any bid price mark up they offer.Only logical counter arguement would be buying volume trumping their sells ?Let's wait and see.....

[santangello] 30/1/2020 07:09

If Calsberg did Trading Updates :)

[rounder2] 30/1/2020 07:09

Nice update .

[effortless cool] 25/1/2020 20:00

Trading update scheduled for this Thursday, 30/1.

[santangello] 23/1/2020 14:57

Interesting and promising reading my friend. Many thanks for the post.

[jeff h] 23/1/2020 12:22

Reads well:-

[effortless cool] 19/1/2020 17:15

That's where I went to school!

[lasmo] 19/1/2020 16:42

www.tclarke.co.uk/tclarke-cala-homes-onsite-at-iconic-boroughmuir-in-edinburgh/

[lasmo] 17/1/2020 14:55

Can't imagine that the CEO would want to attend an investors event so soon after a trading update, unless the y/e results were good.
www.sharesmagazine.co.uk/events/event/growth-innovation-forum-2020-1

[squarepeg86] 17/1/2020 11:04

I've noticed unusually large volumes on the sell the last few days. Theres 3 odd trades this morning too, all for 8888. Hopefully we'll have a nice run up into the update now.

[cc2014] 17/1/2020 10:18

Shall we have some fun? I'm feeling very bullish today.

I can see from L2 we have a buyer and I think it's highly likely we will see trades beginning with 13 in the last half hour. Someone is collecting stock and has been for a few days. It's hard to work out but to me it looks they are buying directly on the order book rather than routing through MM's so that's quite unusual.

The only question is whether the seller(ers) who has smashed it down to 120p twice in the last week is finished. I can't answer that as we've kind of seen this pattern with CTO for the last 4 years, where a seller appears out of nowhere and their objective is prioritise volume rather than price.

[cc2014] 15/1/2020 08:49

Thanks EC. I'm in agreement that the strong balance sheet is very important to secure the best contracts. I'm sure there is some window dressing going on but I'm not sure it will be that large as is it standard practice in the M&E sector for wholesalers to offer prompt payment discounts and I'm told T Clarke always pay on time to take the maximum payment discount.

I'm drifting off my point though which I could have made better in my earlier post.

An operating profit of £10m, gives around a £1.7m corporation tax bill and a 4.4p dividend costs around £1.9m, so (if working capital remains the same and depreciation and amortisation is counterblanced by investment which seems reasonable) that's £6.4m of cash being retained in the business every year.

How much cash do they need? We could debate. £10m? £15m, £20m? more? However, whatever the number is there comes a point in a relatively short timeframe given £6.4m is being added to the pile on average every year where T Clarke won't need any more cash.

So, either it starts to come back to shareholders as dividends or it's used for investment in the future of the company.