Looks like Phillip Reid might have something to do with the huge institutional interest here. 30 years in corporate finance, asset management etc. - must have made a few friends?
The board do not seem to understand the meaning of 'shareholder value' imo. Buying an indebted business earning roughly half a million a year (post-I.T.D.A) for £25m does not add up.
I'm not saying the company is not progressing, but from an unbiased investor point of view this smacks of one of those companies set up for the glorification of the directors - the aim of the game is to create a huge company.
You can see it already... Kevin Mahoney said in the interims:
"We have acquired two established businesses with continuity of management
and grown to a market capitalisation of approximately #30m."
Great, maybe in a few years the company will have a market capitalisation 100 times what it is now, with 200 times as many shares in issue...
Value 30 Index stock quotes
Value 30 Index stock charts
Follow this thread
