Pre 8 a.m. comments

Good morning! A fairly quiet morning for small cap announcements, so nothing earth-shattering to say before 8 a.m.

A share that is high on my watch list, but haven't yet hit the button to buy, is Newriver Retail (LON:NRR) - a property REIT with a fantastic dividend yield of around 8% (not well covered though). Although it sounds unattractive, having invested in secondary retail properties, management appear to be very energetic in driving value out of their properties, and their tenant mix is firmly value-orientated, hence not susceptible to competition from the internet, nor likely to see much of a downturn in trading if the economy worsens.

They announce that planning permission has been granted to extend and improve their shopping centre in Birmingham. Sounds positive, although no financial details are given.

 

Snoozebox Holdings (LON:ZZZ) has announced that the founder, Robert Breare has resigned, and left the company with immediate effect. He had already stepped down as CEO, but was going to continue in a business development role. Doesn't exactly inspire confidence for their refinancing which is underway - I'm keeping well clear, as this one's turning into a bit of a car crash, so whoever refinances it this time can pretty much name their price, which could be at a deep discount to the prevailing share price, who knows? I'm not going to take that risk, so will sit on the sidelines & watch.

It seems a good idea (shipping containers converted into temporary accommodation), but not very well executed. That said, no start-up is easy, so it's easy for armchair commentators to criticise.

 

 

Post 8 a.m. comments

My first impressions from looking at results for the year-ended 28 Feb 2013 from Tangent Communications (LON:TNG) are fairly positive.

I last commented on them here on 4 Mar, when I concluded that at 10p the shares looked pricey, being on a PER of 16 times forecast earnings of 0.62p. That was a good call, as the shares have since dropped sharply to 6.7p. Underlying EPS has come in a bit below forecast, at 0.56p, but the share price fall means that the PER is now a much more sensible 12 times.

If there is…

Unlock the rest of this article with a 14 day trial

Already have an account?
Login here