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CLT, CELLNET GROUP LIMITED
Lizard
post Posted: May 9 2007, 05:17 PM
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I see CVC just reported a holding of 20.21% - what are the rules? Do they have to make an immediate takeover offer at this point? (I no longer hold)

 
Lizard
post Posted: Nov 17 2006, 12:31 PM
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Sold the rest today, as the agm speech did not look encouraging. There is still an opportunity in this longer term but I have made my share out of it for now and it remains a high risk.

 
Lizard
post Posted: Oct 31 2006, 05:51 PM
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I'm still holding, though I've sold half recently. Still some risk around proving they can maintain sales and margins at the tighter working capital. But plenty of possible upside.

 
console
post Posted: Oct 31 2006, 03:36 PM
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Every day this builds up to 1.58 and then it gets dumped to 1.55. Once the seller finishes up this should run a bit more.

PJ Berriman Aquisition is completed too.



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Climate is what we expect, weather is what we get.
 
Lizard
post Posted: Jun 14 2006, 04:02 PM
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Has been pretty much sitting out this correction - maybe CVC are continuing to soak up sells below $1.21?

 
Lizard
post Posted: Apr 11 2006, 03:24 PM
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CVC buying has got this one moving into a new uptrend. Should be a good recovery if the turnaround plays out as expected. Still safer to wait for a progress report at FY, but the uptrend looks tempting in the meantime.

 

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Lizard
post Posted: Feb 27 2006, 10:54 AM
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Came in at the lower end of predicted HY result. Seems like the new MD is well on top of inventory and working capital issues. However, yet to prove they can extract the margins from that substantial revenue stream. Sticking with my predictions for FY - best time to buy for recovery is probably still 5-9 months away.

 
Lizard
post Posted: Dec 23 2005, 07:02 AM
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Latest update out from Cellnet.

As a longer term investor, this share has proved a frustrating roller coaster ride. I first bought at around $1.85, only to see the price fall back to below 70cps. Bought more at 72cps and sold some at $1.65...now here we are, back below $1 again....rather tired of this, and tempted to sell the lot, but am hopeful we may be back near the bottom.

Revenue for FY05 was $586m. With a market cap of approx 50m, this puts it on a very low price/sales ratio. i.e. a small improvement in margins will potentially produce great results.

Profit for HY05 was $5.4m, but second half produced a mere $0.7m after things went pear-shaped. A new Managing Director appears to be making all the right moves in reducing overheads, clearing obsolete inventory and reducing working capital. Predictably, this impacts the current half year to Dec 05 with yesterdays update predicting NPAT in the range $0.7-$1.2m. Approximately 70% of the re-structuring has been completed and therefore there may be some further costs to come, making the estimation of FY NPAT rather risky! My "anybodies guess" is a FY profit of $4-$4.5m, with dividend of 5cps, which at current sp of 98cps, puts it on a forward P/E of 11.2 - 12.5 and net div yield of 5.1%. Looking forward to 2007 and taking into account past profitability, a NPAT of $10m should be achievable for this business. Whether or not they disappoint again, there still seems alot of potential to move in the right direction.

It does look like a good buying opportunity, but I'm still queasy from the last ride, so I think I'll just wait it out with what I still hold...

 
Lizard
post Posted: Nov 21 2005, 12:55 PM
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Oops, sorry, my mistake.

It didn't show up on my cheap data... urkkk.

 
wolverine
post Posted: Nov 21 2005, 12:09 PM
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Liz they were crossed today by Bell's.



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TOO MANY CHIEFS

NOT ENOUGH INDIANS
 
 


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