Wey Education Share Discussion Threads

[battlebus2] 14/5/2019 22:36

Would you buy at today’s price bones🤔

[rjmahan] 14/5/2019 22:15

Thanks bones

[njl53] 14/5/2019 16:56

Thank you for that very interesting summary, Bones.

[kito692] 14/5/2019 07:25

Hindsight is a wonderful thing

[kcr69] 13/5/2019 21:20

Re Post #1868. In a morning note today WH Ireland quote circa 35% as organic revenue growth out of the 54.7% reported number.

[davr0s] 13/5/2019 20:12

Still glad I sold out...... at 28p

[bones] 13/5/2019 18:52

Thanks Net. It was mentioned today that the Interhigh website will also be getting a makeover soon.

[netcurtains] 13/5/2019 18:00

Thanks bones.. I see academy21 have done up their website and are advertising that they were at a major trade show in Manchester over the weekend. The TES and SEN show:


middle top line of exhibitors:

[bones] 13/5/2019 17:09

Net, I was there today at WH Ireland. Probably about 12 serious PI’s all told along with Wey’s WHI analyst and Jacqui Daniell, Barrie Whipp and Barry Nichols-Grey. A lot discussed in the 2 hour slot so I won’t begin to summarise yet. I’ll need to work on a summary and clarify/confirm a couple of things before posting later in the week probably.

I felt it was a positive, but balanced earnest discussion with lots of questions for the board. A summary will not do it justice, but that’s life.

One point was made about the big disposals last week. It does seem an institution bailed in the 5p range, clearly badly timed from their perspective. Possibly last of it? RNS can only come from the selling investor so one is expected but no timetable known. No names were mentioned for confidentiality reasons but an RNS will unveil the culprit. Actually not a culprit, as it enabled me to buy a handsome amount at close to 5p as I recorded at the time!

[netcurtains] 13/5/2019 10:08

anyone at the WH Ireland/WEY discussion in London this morning?

[bones] 13/5/2019 10:05

Elsa7878, I will be working on the details over the next week or two.

[bones] 13/5/2019 09:48

Dave, I agree with you that the small cap market is a haven for short term traders and those of us with longer horizons have to be wary of price moves. Again I agree with you about the leaderboard aspect which will attract some in-out traders (don’t be fooled as most will make a loss by being whipsawed out).

I do not agree that this prevents investors from making money in AIM, but we have to be choosy.

[s34icknote] 13/5/2019 09:11

Well done chaps !Good to see this turn around .Especially with what the company has gone through !Sicknote

[elsa7878] 13/5/2019 09:06

From my earlier post.
Edit: sounds a bit negative but have been burned before chasing stocks with high growth rates that flatten out...It's hard to know how much growth is organic and how much is a timing issue from the end of Dec 2017 acquisition now showing up in the interim figures for the first time.

If anyone has a handle on this please let me know.

[netcurtains] 13/5/2019 08:57

looks good this morning. I guess must be related to half year figures.

[dave4545] 13/5/2019 08:56

Numbers no longer matter these days in the market bones. You can say it's cheap and I can say it's not.

It's who ramping what now, a few mention it with followings on twitter, then a few intraday rampers arrive and how high does it go before the interest fizzles out.

Less than 5% hold stocks now, the rest all day trading and do not want to hold a stock
once the interest dies down.

Top of the leaders board keeps them interested for now

[ny boy] 13/5/2019 08:50

Some of us saw value sub 6p recently, onwards & upwards, broker valuation 30p from memory! (ITX) & (MSYS) next to rocket imo

[elsa7878] 13/5/2019 08:49

If you look at net current assets it is more like £3.3 million. Cash can flatter as the students pay upfront so need to account for timing.
Market cap £10.40 million. (130 m shares). Market cap ex-cash is £7 million
Annualised £200k post-tax. So 35 x rating.
Is growing but want to see that continue before I would add. (I do have 150,000 bought at 6p).

Edit: sounds a bit negative but have been burned before chasing stocks with high growth rates that flatten out...It's hard to know how much growth is organic and how much is a timing issue from the end of Dec 2017 acquisition now showing up in the interim figures for the first time.

[bones] 13/5/2019 08:49

Dave, your analysis is clearly beyond most of us. However, it is worth reading about operational gearing in growth companies. You would have turned down ASOS for the same reason before it multiplied 1000 fold in 10 years.

Good luck in your other investments.

[dave4545] 13/5/2019 08:40

If they strip out cash it's a £4 mil company that made £124k in interims

I will not be chasing the spike

[jungmana] 13/5/2019 08:38

4p cash level. Looks good value so took a small punt at 6.5p

[hamidahamida] 13/5/2019 08:28

Omg it is finally moving Cash gone up by 700k to 5 million M/cap 8 million Talk about company being under priced

[leoinvestoruk] 13/5/2019 08:22

At GCSE level (at least), there are two types of lessons. One type is a bit like a university lecture and this is probably where Junderwood's 50-80 students comes from. The other is like a tutorial and has a maximum of 18 as per their website, although of course in order to retain spare capacity and because of absences it is almost always less and often significantly so.

So from a customer's perspective this gives the best of all worlds - affordable prices, increased total teaching time and ratios that better most other private schools. It also makes scheduling easier for students as they can catch-up on recordings of the lectures without disadvantage and have some choice which tutorial to watch live (they can also watch recordings for those if circumstances dictate).

Also, remember that most questions are asked by textual chat message and that the teacher can control whether questions are public or not. This means it is still very practical for students to ask questions during a class with 50-80 students (or more) and that in most cases both the question and response will add value to the other students.

As far as I know, InterHigh is the only online school with significant scale to take advantage of this approach and it gives them a fundamental advantage in the effectiveness of their teaching (regardless of cost), as well as a significant competitive / cost advantage.

[zulu_principle] 13/5/2019 08:13

Bought back in again. Positive cash generation, with a clear future strategy - looks good.

Only concern is the £650k provision added for this period, can't see anything in the statement as to what it is for. Anyone got any ideas / insights?