Cenkos Securities PLC (CNKS)
Posted: March 31st, 2018, 1:41 pm
I bought a few shares in this company after the final results as they look reasonably priced to me with a decent yield and a solid balance sheet.
https://www.investegate.co.uk/cenkos-se ... 00046829I/
The market cap at £1.10 is about £60m, Net tangible assets are nearly £30m with much of that being cash. Profit after tax on continuing operations was £8.2m. One thing I will accept is that as a stockbroker profits tend to be lumpy so there is no guarantee that they will improve on this performance this year. In fact last years profit after tax on continuing operations was just £3.2m.
But what caught my eye was the below statement.
Since being admitted to trading on AIM in 2006, the Company has returned £108.0 million of cash to shareholders, equivalent to 165.3p per share, before the payment of the proposed final dividend of 4.5p per share.
I haven't tried to work out an annualised return for them but that looks like a pretty good return to me over 12 years.
I did well out of Panmure Gordon, buying when they were trading at a discount to net current assets and selling when they got taken over at 100% premium to the price I paid.
Does anyone else have an opinion?
https://www.investegate.co.uk/cenkos-se ... 00046829I/
The market cap at £1.10 is about £60m, Net tangible assets are nearly £30m with much of that being cash. Profit after tax on continuing operations was £8.2m. One thing I will accept is that as a stockbroker profits tend to be lumpy so there is no guarantee that they will improve on this performance this year. In fact last years profit after tax on continuing operations was just £3.2m.
But what caught my eye was the below statement.
Since being admitted to trading on AIM in 2006, the Company has returned £108.0 million of cash to shareholders, equivalent to 165.3p per share, before the payment of the proposed final dividend of 4.5p per share.
I haven't tried to work out an annualised return for them but that looks like a pretty good return to me over 12 years.
I did well out of Panmure Gordon, buying when they were trading at a discount to net current assets and selling when they got taken over at 100% premium to the price I paid.
Does anyone else have an opinion?