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Key VectorVest metrics indicate Bilby #BILB currently offers an exceptional investment opportunity for capital and dividend growth
Bilby Plc (BILB) is an award-winning provider of gas and electrical installation maintenance and building services to local authority and housing associations predominantly in London and the South East. The Group was formed in 2015 with a strategy to acquire businesses in the gas, electrical and general building services sectors to meet the continued demand for high quality improvement and maintenance services in public sector housing. BILB currently owns four companies which all benefit from service and operational synergies.
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On July 16th 2018, BILB published its unaudited accounts for the year ending 31st March 2018. The Group reported a 61% hike in underlying EBITDA to £6.29m, on improved margins and revenues up 23.2% to £78.8m. Basic group EPS rose to 8.61p from a 0.46p loss previously, and a final dividend per share of 2p (2017: 1.5p) was proposed, following an interim dividend of 0.5p. Non-Exec Chairman Sangita Shah said Bilby had delivered a year of excellent progress..”achieving record revenues, profitability and shareholder returns…”We have a clear growth strategy with a dedicated and focused management team to build on the progress we have made in the last financial year and to that end, we look to the future with confidence.”
The growth potential within this building services group came to the attention of VectorVest members with a Relative Value (RV) flag as far back as the start of 2018, and with share price dips in February, April and June logging across Relative Timing (RT) and Earnings Growth Rate (GRT) indicators. RV, an indicator of long-term price appreciation potential still logs BILB today at 1.63, excellent on a scale of 0.0 – 2.0, while a GRT (Earnings Growth Rate) of 40% also rates as excellent on the VectorVest stock and portfolio management system. Trading today at 126p, BILB is materially undervalued against a valuation of 204p
The chart of BILB.L is shown above in my normal format. After a strong advance during last half of 2017 the share has traded within a range during 2018. Recently the share charted a rising low which appears to be the right shoulder of an inverted head and shoulders reversal pattern. Over the past few days the share has broken northwards through the “neckline” defining the reversal pattern. This is a very positive technical signal for a further advance and confirms the fundamental view. BILB.Lis on a VectorVest Buy signal.
Summary: The impressive set of FY numbers coupled with the exceptionally high scores across a number of key VectorVest metrics highlights BILB an exceptional investment opportunity for capital and dividend growth. These strong fundamentals combine with a bullish charting configuration, adding up to a VectorVest buy rating and 204p price target.
Dr David Paul
July 25th 2018
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Glencore GLEN claims that its 2017 performance was the strongest on record with industrial adjusted EBITDA rising by 60% and basic earnings per share by 310%, helped by rising commodity prices which are completely outside the control of the company and a strong unit cost performance for which it must be given credit. Net debt fell by a hefty 31%. As for the future it believes that its unrivalled positioning and commodity diversification can create superior long term value for all stakeholders – until the next commodity slump that is but in the meantime enjoy the ride.
First Group FGP updates that reported revenue for the year to date rose by 10.7% but in constant currency terms that was reduced to 1.1%. Greyhounds long haul business was affected by intense airline competition. Even the weather with heavy snowstorms on the eastern sea board as far down as Florida, proved to be a challenge. Modest first half growth at Greyhound has turned into a decline of 0.4% for the year to date as the second half worsened with a 2.8% decline for the period from the end of September to January. At First Rail like for like passenger revenue rose by 3.2% both for the year to date and for the second half so far. TransPennine Express is described as producing industry leading growth which has got even stronger with the introduction of its new fleet in the autumn.
Bilby plc BILB Revenue and profitability for the year to the end of March will be ahead of current market expectations as the company continues to win new clients, new contracts and invitations from existing and long term customers to broaden the scope of work which it provides.Excellent customer service is regarded by the company as the clue to its success.
Gooch & Housego GHH is experiencing exceptional demand for critical components used in micro electric manufacturing, the order book as at the beginning of January stood at record levels with a rise of 48% compared to the same tie lasy year and put icing on the cake, overall market conditions are good.
Hotel Chocolat Group HOTC announces another period of strong sales growth for the half year to 31st December, with revenue, underlying EBITDA, profit before and after tax and earnings per share all rising by 15%. An interim dividend of 0.6p per share is to be paid following the maiden dividend of 1.6p at the year end in September. Mothers Day, Easter and Valentines Day results are all being looked forward to eagerly.
Inspirational Healthcare Group IHC has continued to perform strongly in the second half, as forecast the the half tear stage. Full year profit are expected to be in line.
Bilby plc BILB With revenue doubling in the year to 31st March and gross profit rising from £6m. to £11.02m., Bilby has established itself as the largest gas contractor in London and the South East. However after various non underlying items, profit before tax fell from a restated £0.72m in 2016 to this years £0.06m. On an adjusted basis last years basic earnings per share of 5.34p has increased to 7.66p. The annual dividend is to be 2.2p per share compared to a restated 2.75p. per share for 2016.
Advanced Oncotherapy AVO announces another year of significant progress and development in the commercialisation of its next-generation technology in the treatment of cancer – LIGHT. Despite some challenges and obstacles during the year to the end of December, these have been overcome and the company looks forward to successfully executing the timelines that were outlined in March 2017. Since the year end, management has been strengthened and significant technical milestones have been reached. New finance has also been agreed and secured.
LPA Group LPA claims that the excellent levels of orders and sales announced at the AGM, has continued through the half year to 31st March. Profit before tax has risen from £782,000 to £976,000 on revenue up by 3.1% Diluted earnings per share are up from 5.34p to 6.81p per share. The interim dividend is to be raised by 5% to 1.05p per share.However despite those claims about the excellence of the order book, it stands at £22m., exactly where it was at half time, a year ago.
Quantum Pharma plc QP. announces the disposal of its homecare and dispensary business enabling it to focus on its Niche and Specials divisions and eliminate low margin turnover.The Niche & Specials divisions have been trading ahead of plan in the early months of the year and the outperformance here is expected to offset the majority of the loss from the division which is being disposed of.