Review of February
It has been a decent month on the news front for Grays Stocks to Watch, to run through the main:
Asian Citrus
Asian Citrus (LON:ACHL) has once again proven why they are a contingent of the growth section of Grays Stocks to Watch, as they have more than doubled profits this year, with profits including bio gains up 112% to over £50m, excluding bio gains up 123% to near £20m. Just to note, it may be wise to take the excluding bio gains profit when working out a P/E ratio, as the bio gains relate to the maturing of trees, which leads to an increase in their value, which must, due to accounting rules, go through the income statement. So using this figure, on a market cap of £600m at current, that puts them on a P/E ratio of approximately 32. But taking into account their recent acquisition of BPG, the juice maker, and the sheer strength of their balance sheet, and organic growth prospects, even though they are by no means cheap anymore, considering the potential they offer they still warrant a place in the growth section of Grays Stocks to Watch.
Antrim Energy
Antrim Energy (LON:AEY) this month has raised $45m at C$1.07 a share, adding to their already substantial cash reserves of approximately $25m. Therefore on a market cap of £120m (after placing), with $70m in cash, their Argentinean assets, and the sheer potential of their North Sea assets, they seem to be very cheap. Especially considering they appear to have passed the first hurdle on the Fyne option by Premier (One of Premiers opt out dates have passed). Therefore considering the potential they offer (Which can be seen via their newly updated presentation), with them now appearing completely fully funded, with a drilling campaign at the GTA likely to begin to this year, they still warrant a place in the potential company changing news section of Grays Stocks to Watch.
Globo Plc
Globo (LON:GBO) early in the month announced the completion of their £17.25m fund raising, with the price being a very healthy 15p a share. The money will go towards the continued international role out of their CitronGo! and GoSocial mobile apps. This placing puts their market cap near…
