gretel
28 Mar 2017
Terrific results today Bought some more this morning - excellent results.CTO are cheap purely on fundamentals given 11.7p historic EPS - then add in the £9.2m cash against a £35m m/cap and it's looking pretty good.There should be some nice tips in the press for CTO too after this.
charlie51
28 Mar 2017
Results Look to be very good. Better than I anticipated.
gretel
15 Mar 2017
Expansion news [link] introduces major new prefabrication facilityPosted: 14th March 2017 TClarke’s prefabrication workshop is to relocate to a brand new facility at Stansted, Essex. The move will provide enhanced facilities for our people, while achieving improved quality and efficiency plus considerably extended capabilities in our fabrication and manufacturing activities.Group Chief Executive Mark Lawrence set out the strategic advantages that the new site offered: “TClarke’s prefabrication operation has been a key strategic advantage in allowing us to support clients’ prefabrication strategies for major projects including the Shard and Nova Victoria. This move, supporting our strategy of buidling our core M&E business, provide major efficiency advantages for our business and environmental improvements for our people. It will also allow us to offer a wider range of services to our partners and clients going forward. This is organic growth, coming at a time when the business is stepping forward nationwide."The new facility will consolidate all aspects of the business and improve productivity within a modern, high quality industrial unit. The unit will comprise the following: • 280m² of office on the first floor, incorporating meeting room, kitchenette and approximately 34 workstations• 1610m² of warehouse/prefabrication on the ground floor incorporating a paint shop, storage areas and 10no. welding bays• 245m² workshop on the ground floor• 215m² welfare facilities on the ground floor incorporating toilets, showers, changing and kitchenette. “Again it is an example of our steady growth strategy in action - creating value the TClarke way.”
gretel
07 Mar 2017
Good stuff on CTO web site Lots of news on the CTO web site, but this from a couple of weeks ago reads well as regards their new-ish Intelligent Buildings operation:[link] book is also substantially expandedThis growth in capability is also being matched by our order book growth - with the recent win of work on the vast 22 Bishopsgate project standing out. This is organic growth of the classic TClarke kind. Steady growth of in-house capability alongside the necessary accreditations, followed by delivery of significant wins which allow for further growth of capability. In the medium term we now plan to extend our offer into sprinkler systems - and that process is underway.A few years back we were a new operation. In 2016 we’re a genuine player in the market - a quality TClarke offer that not only builds high quality revenue for the firm but also allows us to be more competitive as a group when we approach major projects. So TCIB is also contributing to the agility of the business"
charlie51
22 Feb 2017
Re: Looking good now I go along with this. Serendipitous perhaps I sold down my holing of Serco on Friday and moved some more cash into this....if only my foresight was always so sharp.
gretel
22 Feb 2017
Re: Looking good now Hi charlie51. Maybe 100p initially, and then reassess. Might hold for some time - if the building sector in the UK continues to benefit from government spending etc for the next few years this could well be a one or two-bagger.Since the full SCSW article has been posted in full elsewhere already by someone else, here it is FYI:"T Clarke - Cash adjusted PE of 4.7 74.75p Epic code: CTO (Sharewatch) T Clarke (CTO; 74.75p), a UK provider of mechanical, electrical and ICT engineering services, was once a stockmarket darling and could do no wrong. It operated nationally for many years and successfully across the lifecycle of an asset from design, installation and commissioning to FM. But then it got hit by several busses at once: the recession led to margin pressure; there were two lossmaking offices (now closed); two contract disputes (resolved); and an employee was found with his fingers in the cookie jar to the tune of £2.8m (recovery of this swindled cash underway). But things seem to have cheered up and CTO has issued an exceptionally strong update with full year profits for 2016 expected to be £6m, materially ahead of N+1 Singer’s £4.2m forecast. Based on eps of 11p, net cash of £9.2m (22p a share) and a record £330m order book, the shares are a buy on a cash adjusted PE of 4.7. 2016 results are due on 28 March. * The writer has a holding"
charlie51
21 Feb 2017
Re: Looking good now Love your positive view on this..... any price target in mind?
gretel
21 Feb 2017
Re: Looking good now Continuing to move up. Lovely stuff. Should continue all the way to the results on 28th March given the strong trading update.
pearlsasinger
21 Feb 2017
Re: Strange Thank you all for your insight.I had not figured it out.It augurs well that a large holding is being -or was- sold and the price now edges upwards in fairly active trading - for this small company.I remain a holder.
charlie51
21 Feb 2017
Re: Strange In my view - yes. I know I will be!
foolish learner
21 Feb 2017
Re: Strange Thanks Charlie51, now seen the RNS and agree that JPM are likely to sell their remaining shares. Given the shares traded and risising price, no notifiable short postions, i think mid 80s are realistic pre divi Question is it it worth waiting on thereport due 28/3FL
charlie51
21 Feb 2017
Re: Strange Morning FL.....there was an RNS issued on 14 Feb giving the detail. I personally believe that JPM will sell down their entire position here now that they are beneath the notifiable level as they only rarely hold very small positions (by their standards) in such small caps as CTO.I never fully understand the buys and sells on ii, but at the prices the transactions went through and their size they looked very much like sells to me. Whether they reflected matched bargains I do not know - does anyone else? Gretel?
gretel
20 Feb 2017
Looking good now Great to see the overhang cleared and the excellent rise last week whilst I was on hols.With 11.2p historic EPS forecast for 2016, together with a 3.2p dividend - plus a £9m+ cash pile against a £33m m/cap - there would seem to be excellent upside from here.Re the earlier question incidentally, this RNS last Tuesday showed JP Morgan selling to less than the "minimum threshold", i.e 3%:[link] there were some VERY large trades - and then a big upwards run, indicating that the overhang had finally gone.
foolish learner
20 Feb 2017
Re: Strange Charlie1Not being funny but for my education, can i ask how you know its JP Morgan selling off with out a RNS being issued ?A second point, how are SELL/BUY being distinguished, may be me being nieve but surely you can't have a trade with out both buyers and sellers, or can you. Who is the Seller, is it the person who holds and wants to dispose of shares or is the Broker the Seller, but then he is the buyer in the first place isn't heIs it to simple to presume that there are more buyers out there than sellers if the price is rising? Would the spread between bid/offer price be a fair indicator of demand, a tighter spread i presume indicates there are many buyers waiting with orders placed with brokers. Conversly the wider spread indicates that the buyers are fewer in numbersWould be pleased if you or others could expand or contradict the above FL
charlie51
20 Feb 2017
Re: Strange So JP Morgan selling off their stake to a lower than notifiable level. It's fair to assume there will be some more selling pressure from them as they are unlikely to continue to hold a small quantity of stock.
