30th Nov


This space is reserved for Ramridge to introduce himself.

Ramridge's Latest Blogs

On February 3rd, Johnston Press Johnston Press (LON:JPR) put out an RNS stating that following an independent review their pension deficit has been reduced from £90m on 3/1/15 to £53m on 3/1/16. Following the announcement, the share price jumped 12%.This is a massive deficit reduction of 41% at one stroke which is unusual but not entirely unheard of. The company also stated that full details…

Recent UK IPOs have proved to be a rich seam for canny investors. The following three tables analyse UK IPOs over the previous 12 months to 30/10/2015. The data excludes investment trusts and REITS.The first table shows performance from first dealing dates to 30/10/15, both for absolute gains/losses and relative to the FTSE All Shares Index.The second table measures performance 3 months following the first…

Below is the text of an email I sent earlier today to Dmitrios Gryparis, Globo's Finance Director. The main issues have been unashamedly drawn from Paul Scott's blog of today (all E&OE are of course mine).  Any replies I receive will be published here."Dear Mr GryparisI am a Globo Plc investor who has been following your company’s fortunes fairly closely over the last 18 months.…

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

Graham Re. Kromek (LON:KMK)You say  " Broker sales forecast for the current financial year remains £8.9 million, rising to £12.5 million in FY 2017. "However broker forecast is also for eps to worsen from -1.52p to -2.5p in FY2017.I can't see this company being profitable any time soon.

Re. FCA Notice The FCA intends to introduce these measures in order to protect consumers. Well, when the FSA embarked on a similar mission some 20 years back in relation to the insurance industry. it simply drowned the industry in regulations after regulations. The upshot was closure of lots of small and medium sized insurance companies which just could not afford the cost of compliance.…

Re. 600 (LON:SIXH) On an accounting basis, yes, the surplus stands at £35m, but on an actuarial funding basis (recently completed in Q1 2016) the surplus is a modest £2.2m What this means is that no cash funding would be necessary from the company provided there are no material changes in key assumptions such as interest rate, inflation rate and pensioner longevity rates. What would…

Hi Paul - I'd like to add to the recent posts and wish you a well deserved break. I know this is a big ask, but I'd suggest you leave your laptop and smartphone behind (get a Tesco cheapie throwaway mobile which only allows text & voice comms). As the saying goes, take time out to smell the roses. Regards, Ram

Hi Paul - Re. Tracsis (LON:TRCS)Generally agree with your assessment. A few remarks to add :  - the company has a strict and disciplined approach to new acquisitions as can be seen on their website   here . No doubt a major reason behind successfully embedding recent acquisitions.  -  Philip Hammond's Autumn Statement has allowed for new major infrastructure spend. Around £2.6bn for transport network. Some…

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