Small Cap Report - MAYG, SLG, IND, TNI, SWP, ARI

Monday, Nov 05 2012 by

Good morning! A bit earlier than usual today, as a busy day planned. Firstly, some comments on existing positions.

May Gurney Integrated Services (LON:MAYG) is performing very well indeed, delighted with that one. It was flagged here less than a month ago at 138p, and has already risen to 173p Bid/180p Offer, so a rather ridiculous spread there, but a mid-price of about 176p, so that's a pretty impressive 27% gain already!

I double-checked the figures again, and in my opinion it still looks good value. EPS is forecast for about 25p, so I cannot see any justification for a PER of less than 10, or 250p a share. That relies on no more significant bad news coming out, of course. There could be more bumps in the road, although management did recently say that their 3 problem areas are ring-fenced, implying that the bad news is out.

With a dividend yield still over 5%, and not looking under any threat, I'm very happy to hold until the price gets to my 250p target. But as usual, this is just my personal opinion, not advice, and you should DYOR*

The trading statement from Sarantel (LON:SLG) intrigues me, as I've followed this company for years, and remember speaking to the CEO a long time ago. It's a micro cap (c.£2m) that makes specialist, high performance aerials for mobile devices. It's consistently loss-making, and its finances look precarious (need for another fund-raising soon I'm guessing). So extremely high risk. However, sales  do seem to be in the early stages of taking off - full year sales 35% up at £3m. Doesn't say what the loss is, although they only have £0.8m headroom left on a loan facility. But military customers in particular, are making repeat orders. Intriguing, might be worth a further look, with fun money only, given the very high risk.

I have high hopes for the Indigovision (LON:IND) AGM statement this Thursday, 8 Nov. Since they are in the process of giving away virtually all their cash pile through a Special Dividend, it seems inconceivable that their current trading statement this week will be…

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Kier Mgis Limited, formerly May Gurney Integrated Services Plc, provides infrastructure support services. It operates in three segments: Public Sector Services (highways services, environmental services, facility services and fleet and passenger services), Regulated Sector Services (utility services, rail services and waterways services) and Property. The Company is a highways maintenance services provider for local authorities. It is the provider of municipal waste collection services in the United Kingdom. It provides end-to-end fleet management and passenger services to local authorities. It delivers utility maintenance and asset enhancement services in water, gas, power and telecommunications across the United Kingdom. It works in long-term partnership with its client, Network Rail, to deliver maintenance and refurbishment works on rail structures, rail property and in signalling. more »

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UK Oil & Gas Investments PLC is an oil and gas investment company. The principal activity of the Company is to acquire a portfolio of direct and indirect interests in exploration, development and production oil and gas assets, which are based in the United Kingdom. The Company's segments are Oil exploration and production, Oil exploration and evaluation, and Corporate & Administrative. The Oil exploration and production segment includes producing business activities. The Oil exploration and evaluation segment includes non-producing activities. The Company specializes in finding and producing oil from unrecognized naturally-fractured rocks in the Weald Basin of southern England. Its portfolio consists of four onshore oil producing fields, four appraisal/development licenses, and four exploration licenses. Its onshore producing oil fields include Horndean, Avington, Lidsey and Brockham. Its development/appraisal assets include Horse Hill, Markwells Wood and Baxters Copse. more »

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IndigoVision Group plc is a United Kingdom-based company engaged in the design, development, manufacture and sale of networked video security systems. The Company's segments include Europe, the Middle East and Africa; North America; Latin America, and Asia Pacific. Its cameras, encoders, network video recorders and software are designed both internally and with technology partners and manufactured in Asia and Europe. The Company's end to end Internet protocol (IP) video security systems allow full motion video to be transmitted around the world, in real time, with digital quality and security, over local or other area networks, wireless links or the Internet, using market compression technology to minimize the usage of network bandwidth. Its subsidiaries include IndigoVision Limited and IndigoVision Pte Ltd, which are engaged in marketing of its products, and IndigoVision Solucoes De Seguranca Eletronica Ltda., which is engaged in product repair and warehousing, among others. more »

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  Is May Gurney Integrated Services PLC fundamentally strong or weak? Find out More »

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About Paul Scott

Paul Scott

I trained as an accountant with a Top 5 firm, but that was so boring that I spent too much time in the 1990s being a disco bunny, and busting moves on the dancefloor, and chilling out with mates back at either my house or theirs, and having a lot of fun!Then spent 8 years as FD for a ladieswear retail chain called "Pilot", leaving on great terms in 2002 - having been a key player in growing the business 10 fold. If the truth be told, I partied pretty hard at the weekends too, so bank reconciliations on Monday mornings were more luck than judgement!! But they were always correct.I got bored with that and decided to become a professional small caps investor in 2002. I made millions, but got too cocky, and lost the lot in 2008, due to excessive gearing. A miserable, wilderness period occurred from 2008-2012.Since then, the sun has begun to shine again! I am now utterly briliant again, and immerse myself in small caps, and am a walking encyclopedia on the subject. I love writing a daily report for on most weekday mornings, constantly researching daily results & trading updates for small caps. Cheese! more »


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