We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Register to chat with like-minded investors on our interactive forums.
| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Wyg Plc | WYG | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 54.50 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 54.50 |
| Top Posts |
|---|
Posted at 24/5/2019 22:54 by norbert colon I sold 10k today as I needed some cash for another opportunity but otherwise I'm sitting tight.I did the same for Waterman and no higher offer was forthcoming but that was a very good offer at 140p.WYG has more legs yet I hope. I've been this patient so far and very well rewarded so another month or so is immaterial. |
Posted at 20/5/2019 15:38 by thorne3 There has to be a chance of a counterbid;£43 |
Posted at 18/3/2019 14:17 by norbert colon This is the good news I was hoping for.Not great losing the dividend but has to be expected given covenant issue. With respect for the results we all know they won’t be great - for me this isn’t an investment based on high margins, ROCE or other such metrics that would typically imply a “quality” This is a play on sector M&A which has been rife for decades. Despite poor trading (WYG are not alone) is this biz only worth 0.5 x Book / less than 0.1 x sales? I suggest not. Lets speculate that WYG ends up as a slimmed down £100m t/o business - what is that worth? I'm prepared to propose a valuation in the order of £50-60m based on peer group averages. The current mcap is circa £12m. I'm happy to have made an educated investment into the premise that it wont remain at such a discount for long given management's drive to reduce costs and ongoing M&A. |
Posted at 05/2/2019 12:24 by rndm355 WYG discussed on the Cube Podcast, 12 minutes in: |
Posted at 11/9/2018 18:52 by norbert colon https://www.investeg |
Posted at 08/6/2018 08:11 by norbert colon Waterman were acquired on a PE of 17 so 6p x 17 = 90p which is just one rough metric by which to value them. A market cap of circa £80-90m (double current mcap) is equally achievable based on peer group P/S so the current valuation is still very attractive.WYG are ~10% of both my SIPP and ISA |
Posted at 19/4/2018 10:09 by dangersimpson2 AB Traction holding RNS seems to have kicked off a bit of buying interest. Not sure why though since they seem to be an investment company not a trade player. I guess maybe WYG & AB Tractions holding in Hifab might make sense for consolidation:Still think WYG will eventually be taken out given the consolidation in the sector but not convinced this holding RNS is the starting gun that some obviously think it is. |
Posted at 30/3/2018 18:39 by norbert colon I had a very open mind about their results for this year given the early stage of the turnaround and various headwinds. On the positive side they seem to have pretty much stabilised the operating business and hopefully the actions taken to-date by the new management will provide a stable footing going forward.Order book is also still strong.On the down side, the write off of North Associates is disappointing given it cost WYG circa £5m only 2-3 years ago and I believe part of the cause for its failure was lack of integration but the Cumbria market has also been tough.Management have also highlighted that 2019 isn't going to look much better however I would rather them be cautious and realistic.This was never going to be an overnight turnaround and the valuation remains compelling. Personally I have been a little over optimistic to-date but I firmly believe that value will be realised over the medium term and I look forward to reading the full results. |
Posted at 27/2/2018 19:09 by norbert colon Topvest - what you have to believe then is that in the future the Group will generate free cash flow. I certainly do as there is nothing unique about WYG compared to their peer group to otherwise prevent them.Previous management have a lot to answer for in my opinion and given time investors should see much improved financial performance although it won't happen overnight. |
Posted at 05/12/2017 20:38 by norbert colon Interesting post from Walbrook82 and always good as to hear both sides of the investment case so I thoroughly encourage it.I would just like to throw my response in to the various points raised. 1 - Risk of Contract delays. This is not specific to WYG and is a risk applicable to all Consulting firms (and for that matter most businesses). Agreed that currently there are, however, various market headwinds particularly Brexit and that the current Macro climate is not exactly a rosy one. 2 - I have a particular loathing for adjusted profits and made this point to various CFO's including the one at Sweett Group where Doug McCormick was previously CEO for a short time. 3 - Its a people business! Of course the majority of costs are staff. 4 - Same response as 2) above. Transparency is key and I hope going forward this is addressed. 5 - Same response as 2) above. Will come onto cash later.... 6 - Interesting point. All I can say is that from my recent discussions with new mgt there is an acknowledgment that previous reported numbers had been somewhat flattered so you may have a point. I am satisfied that the pedigree of the new CEO will ensure such shenanigans cease. Investors can only engage with mgt going forward and press for greater transparency. 7 - 100% Agreed - historically WYG has been a bit of a basket case and under previous management I avoided it all together. We have a new CEO with a solid track record and its all about the future now. 8 - New mgt were very clear with me that the cash profile of the business historically is appalling. Again, its all about the future here under new mgt. Another reason I had steered clear before. 9 - Noted / agreed and covered above. 10 - Agreed. Mr Hamer (previous CEO) liked buying companies. I understand that a number of these businesses were poorly integrated and were working autonomously rather than as part of a global business. My clear impression having watched the company for a number of years is that Hamer / McTighe were on a mission to buy and build as quickly as possible and feather their own nests. Staff / business segments have been neglected and it couldn't have come sooner to get new management in including a new NED as reported today. 11 - I invested initially at 104p and have added all the way down to current prices. The plan was always to keep adding but at higher prices not lower prices. I should be happy with lower prices but even I have been taken back by the recent profit warnings. Clearly all investors will be spitting feathers (me included), however, WYG are not a fly-by-night blue sky company with a dubious business model. They have a good reputation in the market, work in some niche geographies / sectors that distinguish themselves from other Consultants and are a UK Top 3 consultant in some areas such as Planning. Its going to be a slow burn turning things around, however, looking further ahead its not unreasonable to see the valuation above GBP 80-90m given turnover of GBP 150m + I dislike token Director buying to prop up flagging valuations but management need to dig deep into their pockets at current prices and buy some stock to make it clear to the market that long term prospects are as sound as they make out. N+1 Singer's note this morning has 2019 revenue at GBP 163.5m, PBT at GBP 4.4m and EPS at 5.4p. The divi is also maintained (1.8p) and net debt is down to GBP 6.9m. Price to Sales is less than 0.2 which is exceedingly cheap for this sector. Lots to do over 2018 and beyond - I will be in for the long haul. |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Hot Features
Premium
