http://www.londonstockexchange.com/exchange/news/market-news/market-news-home.html?code=BVM&rbDate=released&preDate=Last3Months
Key bit states:-
"It was reported at the AGM that trading in the period had started slowly. Pleasingly trading picked up significantly in Q2 and as a consequence the results for the six months ended 30 June 2014 will show an increase in revenue and a significant improvement in profits compared to the equivalent period last year."
Trading is in line with expectations and second half weighted.
"The directors are encouraged by the level of enquiries and are confident that a good proportion of these can be converted to sales in the second half."
Broker forecasts:-
| "Year Ending | Revenue (£m) | Pre-tax (£m) | EPS | P/E | PEG | EPS Grth. | Div | Yield" |
|---|---|---|---|---|---|---|---|---|
| 31-Dec-14 | 10.20 | 0.70 | 0.66p | 7.6 | 0.1 | +65% | 0.20p | 4.0% |
| 31-Dec-15 | 11.00 | 0.90 | 0.80p | 6.3 | 0.3 | +21% | 0.25p | 5.0% |
This makes the shares look very cheap, particularly given current growth.
Appears to confirm my educated guess as to why the deal with Trakm8 fell at the first hurdle. Belgravium are understandably looking for a premium price for the business, and Trakm8 management like to seek out bargain basement prices. Bodes well for both companies in the future.
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