Tclarke Share Discussion Threads

[tedg41] 05/11/2010 15:34

Added some about 5 hours ago. Since then the spread has narrowed significantly but not to my advantage. The bid price has risen but the offer price has actually gone down a little. Why is that?

[aleman] 05/11/2010 12:41

I bought quite a chunk of SDV and SHD when I discovered they held many of the shares I was buying or monitoring. Seemed a lot easier and gave me some nice risk diversification at a time quite a few high yielders were cutting dividends. It has been very profitable for the last couple of years and recent reports suggest small and midcaps are raising dividends again. Here's SHD's top 10:

Ten largest equity holdings at 30 September 2010

% of net assets

Oxford Instruments 3.1

XP Power 3.0
Weir 2.9
BSS 2.9
Chesnara 2.5
Morgan Sindall 2.4
Chaucer 2.2
Wilmington 2.2
McBride 2.2
Helical Bar 2.1
Total 25.5

[cwa1] 05/11/2010 10:05

Thanks for that Aleman. Interesting list of companies there, I seem to have, or have had, quite a few of them. Maybe a case of fools seldom differing!

Decided to grab a handful of them but doesn't seem to be much stock about.

[aleman] 05/11/2010 09:46

Largest holdings of SDV - smaller companies income fund, run by Chelveton A.M.

20 LARGEST HOLDINGS %

As at 31 August 2010

1 Macfarlane Group 4.10
2 Portmeirion Group 3.97
3 Sinclair (W) Holdings 3.62
4 S&U 3.48
5 Clarke (T) 3.42
6 Victoria 3.42
7 Zotefoams 3.16
8 Cineworld Group 2.96
9 Chesnara 2.94
10 Alumasc Group 2.81
11 Stadium Group 2.74
12 Consort Medical 2.67
13 Arbuthnot Banking 2.50
14 Trifast 2.48
15 Marshalls 2.40
16 Sanderson Group 2.27
17 Hilton Food Group 2.13
18 Abbey Protection 2.11
19 Avesco Group 2.10
20 Office2Office 1.98

[jab118] 05/11/2010 09:42

Thanks CWA1 yes just looked back on last years half years interims, could be the interims are very good, or the link above has alerted the market what a bargain this is.

[pifedayo] 05/11/2010 09:38

Year end is 31 December and last year's final dividend was declared in March. So my guess the full year results will also be in March.

[cwa1] 05/11/2010 09:32

jab

There was an IMS last year on 19/11. So guessing there will be one around the same time.

[cwa1] 05/11/2010 09:30

Morning

Tiny bit of interest this morning, nice to see, hope it lasts/is the bringer of good news.

Meanwhile CTO get a small positive mention in this article:-

[jab118] 05/11/2010 09:30

Anyone know when results are out ?

tia

jab

[copyright] 28/10/2010 22:35

Recommencement of building in the capital is good news for CTO...has close links with British Land and Land Securities (owner of One New Change complex).

I'm beginning to think that CTO will come out with a fairly positive outlook for new projects / recommencement of mothballed projects and it would appear that the two latest acquisitions involved with facilitIes management and mechanical engineering / pipework are doing better than expected.

Share price is an absolute steal, analysts keep raising the possibility of a dividend cut which is not likely IMHO for the next couple of years, I would like to think that not only are these two acquisitions profit enhancing but they will also be strong cash generators too. If you take the worst case scenario that the dividend could be halved then the shares would still yield approx 5.5%. Fingers crossed foward earnings per share will increase at a rate faster than the increase in the issued share capital so the pe ratio will still likely be below 10 which would leave the share price very attractively priced and the higher eps if followed through to positive cash conversion then I cannot see the dividend being cut by 50% so perhaps the dividend yield would still be in region of 8% or thereabouts.

About time CTO got more active on the acquisition front and geared up its balance sheet a bit, a sizeable bit of debt say around 25% of market value could easily be funded by the steadily growing business, this would give CTO about 10 million pounds to utilise and I wouldn't expect raising that sort of sum of money in the marketplace would be any problem for the company even in these uncertain times, have to believe the full backing of institutions and shareholders would be granted to CTO whether placing or open offer or rights issue.

This company has an excellent client portfolio, has a great reputation in the industry and has been around in business for a very long time.

It would appear it has been extremely risk averse for some time now, has been very cautious and highly selective with the work it takes on, the old management team has been too cautious and this has curtailed growth for a long time now.

The company is too small, annual turnover of less than 200 million and market capitalisation of approx 48 million means it is has been overlooked by all the main investors / institution, only support I reckon has come from small investors looking for extremely good income who have been looked after by special dividends in the past made from excellent cash generation which would have been better spent on acquisitions leader to a much bigger and more profitable growth company which would also have resulted in significantly better market rating and would have attracted wider interest and support from institutions.

The new management team haven't wasted much time in making these two acquisitions, it only remains to see just how successful they have been in growing the business, hope we don't stop there, we need a few more bolt on acquisitions plus more cross selling into new markets arising upon acquisitions.

CTO should have been on the radar of numerous predators before now, but it is still just too small for any medium sized company looking to diversify into or boost their existing electrical contractor business. Needs to at least double or treble or even quadruple in size before it attracts the interest of any predators, good news going forward for shareholders when and if the new management team can deliver.

I continue to hold primarily for income and will look to add more if the current share price weakness continues for much longer, a fall to 110 would attract my attention but the price never seems to go below 115 pence on the offer, always other bottom feeders / income seekers jump in when the price hits that level. Seems there are plenty of punters who see it as an easy way to make profit and sell/short the shares almost every time it recovers to between 130 and 135 pence, sendng the price back down sub 120 pence again.

[pifedayo] 28/10/2010 11:11

Bloomberg TV had a short piece on One New Change which is a shopping mall under development opposite St. Pauls in London. They showed T. Clarke working - nice little plug. Although not due for completion until 2014 it is opening some bits today at 12 noon.

[poggy pig] 27/10/2010 11:08

They have reduced to 10.75%.

[pifedayo] 27/10/2010 10:58

See RNS - AXA holding 11%

[jab118] 26/10/2010 20:41

New FD news was it, or are investors waking up ?

[jab118] 22/10/2010 16:25

Aleman, Also looked like someone wanted a fair few at 118p

[aleman] 20/10/2010 15:02

Could be wrong on this but a quick look at the spending review suggests capital budgets haven't been hit as hard as expected. Companies dependent on government capex seem to be rising a bit. Might help CTO's business a bit.

[jab118] 12/10/2010 09:24

Dewhurst PLC, an independent supplier of quality components to the lift, keypad
and rail industries, is pleased to announce the following pre-close trading
update for the year ended 30 September 2010. Profit before taxation for the
period is expected to be significantly ahead of market expectations. This is
primarily due to better than expected sales in Europe and Asia as well as
benefiting from positive exchange rate movements of our overseas operations.

Dewhurst's preliminary results for the year ended 30 September 2010 are expected
to be announced in early December 2010.

Richard Dewhurst, Chairman, commented "The international spread of our business
has given us resilience this year and allowed the Group to perform better than
expected despite the poor economic conditions in the UK."

.............................................

Could happen here,

" showing at your local cinama next week ! "

jab

[jab118] 29/9/2010 19:01

pif,

You seem to be a very shrewd investor, what a lot of ISA acc. holders do, is play with their money in companies well and truly risky. It's a tax free investment so you need a bit of level headed investment to put your well earn cash in my view, risking your money here imo., is a far safer investment than most banks at the moment, a nice steady rise better than a quick surge. This recession is only the start and far from over, many companies will struggle for months to come, I still believe the likes of companies like YELL & TW could well be swinging close to the WEST WIND sooner rather than later.

[solarno lopez] 29/9/2010 14:56

Sorry JAB you of course correct but it still ain't me

[jab118] 29/9/2010 14:33

lopez, no wouldn't need to own any if you was naked shorting, only for a half a minute on rolling over ...

[pifedayo] 29/9/2010 14:28

Jab - yes I have some in my ISA. Added them back in May, but I am holding on.

[solarno lopez] 29/9/2010 14:19

not me in fact don't have any

[jab118] 29/9/2010 14:14

OKay who just rolled over a 25k naked short, come on own up..///!!!????

[solarno lopez] 29/9/2010 13:06

JAB I always find this type of company to assess so I must leave it to the experts

[jab118] 29/9/2010 13:00

pif, are you a holder, I have done a lot of extensive research in to CTO, time to buy ihmo:-)