Following the "transformational" agreement signed with Toweregate Holdings last week I have seen some big increases in profit forecasts of around 25% next year and 10% in 2014. On consensus forecasts the shares, at 41p are valued at about 5.2x 2013 earnings and only 3.7x 2014 earnings. My view is that this is far too cheap!
The Chief Executive, William Dewsall seems to agree, having bought 50,000shares at 41.5p. Mind you, he already holds 25,049,022 shares or 22.1% of the Company. I think they say "he has some skin in the game"!
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