Lightnews — Scholar-powered news

James

@1james1n1.bsky.social

370 followers 110 following 1.6K posts

I post mainly about personal finance & shares. My tweets are not investment advice. Do your own research.

Posts Media Videos Starter Packs

Pinned

James @1james1n1.bsky.social · 4d

My portfolio is up 12.4% Cal YTD.

This week up 2.4% with 15📈, 8📉 & 1 unchanged.

My line-up as I enter Q4 is shown 👇. This week, #PAY.L shone with the Royal Mail investment in Collect+, #CE rose on Citi upgrade, while #BILN.L weakened on a further pw.

Next update 31 Dec. Good w/e all! 🏃‍♂️😎

James @1james1n1.bsky.social · 17h

#GNC.L - TU

✅"the Group now anticipates FY25 Adj Op Profit will be approximately £125m, above previous guidance [of £118-121m]".
✅Q4 profit conversion ahead of expectations. Strong volume momentum + cost management + OpEx focus.
✅Continues product innovation initiatives - 130 new products in Q4.

James @1james1n1.bsky.social · 18h

#NET.L

➡️Rev up 23%, adj PBT up 8%, divi up 6%
➡️Net cash down 22% due to acquisition payments.
➡️Outlook: "a record pipeline and a contracted revenue order book of £79m".
➡️Questionable adjustments to profits.

On a P/E of 29 & PEG of 2.2. Adjusted PBT growth of 8% makes it hard to see the attraction.

James @1james1n1.bsky.social · 18h

#BMY.L

Disney acquires rights to "Impossible Creatures" books by Bloomsbury printed author.

Agreement to adapt first two books into screenplays.

Suspect no early impact, but should sustain book sales akin to effect of Harry Potter film series.

James @1james1n1.bsky.social · 18h

#FSG.L - 1H TU

➡️BS Earnings in line with FY26 consensus estimates.
➡️AuM & FuM up 3% & 1% respectively.
➡️Continues to attract inflows to higher margin retail vehicles.
➡️On track to double BS Earnings in 5 years to FY29.

Looks ok overall, but reads a little cautious imo.

James @1james1n1.bsky.social · 1d

#VIC.L - FY TU

Class of 2021 IPO (so SP has since crashed) updates:

➡️Rev up 5%, order volumes up 6%, adj* PBT "in line with the top end of market expectations".
➡️MFI soft launch "has been very encouraging to date"
➡️Cash conversion "strong", but no numbers provided.

*Note: #VIC.L loves adjustments

James @1james1n1.bsky.social · 1d

#SAL.L - TU

A micro-cap, but some savvy investors have done well here in the past 18 months.

➡️Trading in line for FY25
✅Points to combined Rev growth for FY26 of 6%, borrowing costs down & PBT up 50%.

Quite some progress!

James @1james1n1.bsky.social · 1d

#GHH.L - FY TU

➡️"the Board expects to announce FY revenues & adj PBT broadly in line with its expectations" but higher adjustments.
➡️2H saw "continual challenges"
➡️Acquisitions on track
➡️Net debt of £30.8m ok
➡️Outlook: Order book up, underpins FY26. Confident in medium term prospects.

James @1james1n1.bsky.social · 2d

I look forward to hearing Richard's feedback. I used the word "derisory" in my RNS comments in a nod to the #RKW TU RNS from last Thursday...

James @1james1n1.bsky.social · 2d

#TIDE.L - Finals

Since peaking in 2020 at c378p, it has fallen hard, had 3 approaches, none of which proceeded and now it warns of some contract terminations which follows staff turnover and further customer "churn", making the outlook look challenging...

James @1james1n1.bsky.social · 2d

#HSS.L - Final Accounts & Agreement with Speedy Hire

➡️Reports a LBT of £130.3m & adj LBT of £8.4m.
➡️Leverage up to 2.3x, although net debt down a little in value.
➡️Enters 5 year agreement with #SDY.L & disposal.
😳Outlook: if something is worth saying, its worth saying twice 👇

James @1james1n1.bsky.social · 2d

#LIT - Adverse judgements

Last week - Wed
➡️Final Accounts & Going Concern - Material Uncertainty
➡️Judgement goes against it

Today
➡️Unsuccessful in seeking to appeal a loss fron April.
➡️£1.4m to be written off.

"There are decades where nothing happens; and there are weeks when decades happen"

James @1james1n1.bsky.social · 2d

#TET.L - Takeover - offer raised

💰Offer increased from a derisory 260p to a mildly derisory 290p.
➡️"The Increased Cash Offer is final and will not be further increased" subject to the usual caveats.

❓Is this enough to get the deal done? Will be interesting to see how it plays out from here.

James @1james1n1.bsky.social · 2d

#DIA.L - TU

✅"the Group now expects to significantly exceed the market expectation for Adjusted Operating Profit for FY26"
➡️Despite, "sales marginally down on the PY" due to tariff incertainty, & generally softer macro impacts.
➡️Margin improvements, cost reductions & cash generation
😳Fwd P/E of 35!

James @1james1n1.bsky.social · 4d

Moving to quarterly updates going forwards.

James @1james1n1.bsky.social · 4d

My portfolio is up 12.4% Cal YTD.

This week up 2.4% with 15📈, 8📉 & 1 unchanged.

My line-up as I enter Q4 is shown 👇. This week, #PAY.L shone with the Royal Mail investment in Collect+, #CE rose on Citi upgrade, while #BILN.L weakened on a further pw.

Next update 31 Dec. Good w/e all! 🏃‍♂️😎

James @1james1n1.bsky.social · 5d

2/2

That said, my take is there is something different in this company to be growing when the rest of the industry is struggling and the correction now looks overdone. All imho of course (& I am biased as I hold!)

James @1james1n1.bsky.social · 5d

#HERC.L - Hard to say. I wonder if the SP got a bit ahead of itself in Q1. Arguably a forward P/E of c14x was rather warm for a low margin labour supply company.

1/2

James @1james1n1.bsky.social · 5d

#JDW.L - Finals

➡️Rev up 5.1%, adj PBT up 10.1%, flat divi.
➡️Outlook: "anticipates a reasonable outcome for the financial year"
🙄Lots of complaints about taxes and a trip back to the 1970's even.

James @1james1n1.bsky.social · 5d

#TBTG - Beauty Tech IPO

➡️Easy to forget what an IPO is, but today Beauty Tech begins dealings with a pricing of 271p & expected market cap of £300m.

James @1james1n1.bsky.social · 5d

#HEAD.L - Man overboard

➡️CEO leaves "with immediate effect".
➡️He is thanked, but the mesage is clear: "The Board is taking decisive action to deliver the transformation our business needs"

James @1james1n1.bsky.social · 5d

#BIG.L - Chair resigns

➡️Chair steps down with immediate effect.
➡️Replaced on interim basis.
➡️"best interests of all shareholders" if someone new & independent steps in.
➡️Awaiting to see if offer of mediation accepted - hmmmm.

🍿🥤🥊

James @1james1n1.bsky.social · 6d

#CHSS.L - Award Win

➡️Wins an award and cannot stop itself writing about why its so significant an award. I reckon it's plumping itself up for the next placing...

💰 Over-valued by about £16m imo.

James @1james1n1.bsky.social · 6d

#MGNS.L - TU

✅"the Group now anticipates that its FY25 results will be significantly ahead of its previous expectations"
✅Fit Out division blowing the doors off & has "continued to strengthen significantly".
➡️Even drag in Mixed Use Partnerships cannot offset.
✅Positive cash update.

James @1james1n1.bsky.social · 6d

#RKW.L - TU

➡️NAV up 12.5% in period & total shareholder return up 11.5%
➡️Added #TET.L in period & #TRB.L. Former received a "derisory" t/over offer in period.
➡️Sold #GFRD.L & netted a 48.2% IRR, with a 2.4x money multiple.
➡️Outlook: "we believe all are at a deep discount to intrinsic value"

James @1james1n1.bsky.social · 6d

#HERC.L - FY TU

➡️FY Rev, BS Earnings & adj PBT to be in line with [stated ✅] market expectations. Indeed, Rev looks about 5% above those expectations.
➡️It "will again deliver record results, with more to look forward to in FY26, and beyond"
➡️Acquisitions & market tailwinds supportive.