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Ramridge's Latest Blogs

Today's Sunday Times carries an interesting article on the extent of pension fund liabilities in listed companies balance sheets and impact on prices. Nothing new in this for those who study financial results. What struck me as interesting is that the report saw a ratio of pension liabilities to net assets of 50% as a marker. Anything above 50% is a amber to red flag.…



Ramridge's Latest Comments

Re Air Partner (LON:AIP). If ExpectingValue is right and basically AIP operates as middle-men, then should we not measure operating margin against gross profits and not revenues? This is usually the argument accepted for recruitment companies. That might explain why AIP's operating margins appear wafer thin?

Hi RandomAmbler - re. Air Partner (LON:AIP) yes you are right a lot of the £18m cash is from their JetCard which is a pre-paid card. Customers can buy flying hours in advance. This cash would help working capital but clearly cannot be used for acquisitions, etc. So your caution in this respect is correct.

Re. Air Partner (LON:AIP) The company had £18m cash as at the HY2014 results. On a cash adjusted basis and taking into account todays price of 308p, the forward PE drops to around 6. The story gets better all the time!

Re. Plus500 (LON:PLUS) PLUS boasts that they have developed their own proprietary platform that gives them an edge over the competition. The strange thing is that after examining their accounts, it appears that their platform requires practically no maintenance or development effort. It is as if they produced the perfect platform that requires no further maintenance or development spend, despite rapid expansion and evolving their…

Hi iwright7The other UK company closely linked with Apple is ARM. Here is a snippet from today's news:"(Open): Shares in chip designer Arm Holdings rose 1.9% as the company was boosted by news of Apple's record quarterly profit.Arm's chip designs are in many Apple products, and the US tech giant reported a profit of $18bn (£11.8bn) for the three months to 27 December"There have been…