.... but shows clear growth if you look at the trend. The outlier H2-20 was affected by the outbreak of Covid19 in China with extended plant closures. Also to get an idea of growth trends using underlying eps would be better. |
Earnings per share have been erratic ... |
riverman77
A LIAR posting fibs is what you are.
Underlying1 basic earnings per share Y 2024 33.7c - 2023 30.2c +11.6%
the latest interim results the EPS are UP, as is the profit and dividend.
26 weeks 26 weeks 29 Sept 2024 1 Oct 2023Underlying1 basic earnings per share 15.2c 14.9c +2.0%Statutory basic earnings per share 10.4c 8.8c +18.2% |
"EPS is always the key measure for me and this was down over the year."
Where do you get that from? EPS has increased compared with the comparative half year and over the last year. |
I think what people are missing is that the sell-off here was not entirely due to the takeover news, but also the fairly soft results which were announced on the same day - EPS is always the key measure for me and this was down over the year. Not saying they were terrible, just not that great for what's supposed to be a growth company. |
IMO 340 will take some time as you say because of just an in line and current markets reactions. But I do also think Nat has set his stall out in terms of what level of debt he is comfortable with, which may have also contributed to the market reaction, such an increase in net debt, despite being within funding EBITDA covenants, is till a significant uplift in debt from current levels. |
An aborted bid is no reason to sell so I just sat holding waiting for the market to see sense lol |
I was hoping for a swift return to c340, but that looks unlikely now. I guess we all thought that the reason the share price dropped so much was the bid, but of course on the same day they announced their results which appeared to be inline.
TTG have also held up remarkably well. I guess VLX have come out of this having spent time and money on not making a bid, whilts TTG have shown that whilst their trading is a bit of a mess the company itself is in play as a takeover target.
I'll continue to hold though. |
Disappointed by the price action since the announcement. I can only assume there are short term vested interests manipulating the current price to limit their losses as I suspect the majority assumed the bid would go hostile ? |
Common sense prevails. |
r777
Yes, seems reasonable. |
Its a sign of quality management. When you make a reasonable offer, a company turns it down, but you don't come back with a much favourable offer. |
I'm pleased they are not going to chase TTG. Its a fair company at best and would need a lot of management time to put right. If they are going to pursue a buy and build strategy I'd rather that they buy great companies at fair prices rather than fair companies at great prices (as per the Warren Buffett saying).
TTG has held up well today, I don't hold there but its the same price as the day of the announcement. I think it will drift lower as interest fades, but I'm not a holder there and won't follow it.
Also pleased to see the trading update in todays notice that they are on track. Will continue to hold here longer term. |
Is there some element of arbitrage unwinding here since the announcement at 11am as ttg and vlx are moving in opposite directions post the initial reaction to the news which suggests vlx price a bit cheaper than it should be so opportunity to add a few |
That should move the market..
Hopefully back upto £3.40 now... |
Further to its announcement on 15 November 2024, Volex confirms that it does not intend to make an offer for TT Electronics. |
Relief by the market that they haven't chased TTG
Time for the bounce back
All imo
DYOR |
Agree, and I doubt they would. I think if they are going to move off AIM it might be to the US exchange where they can get a bigger re-rating and maybe better access to the increasingly protectionist local market. Essentially what Ashtead have just done. |
The prospect that VLX cculd use the t/o as an opportunity to graduate to the main market by backing into the TTG quote may not be entirely attractive to many private holders. |
The Volex story has always been about rapid growth through acquisition, we should give management the benefit of the doubt they can deliver on this one, especially as it's a company they know intimately. The UK market is a terribly unimaginative and conservative arbiter of value in these situations. Big share price growth from here requires big ambition, this could be the game changer. |
The TT price has steadily risen so expectation is that they will put something on the table. |
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